Skip to main content

Meeting of the Board of Regents | April 2008

Tuesday, April 1, 2008 - 8:20am

sed seal                                                                                                 

 

 

THE STATE EDUCATION DEPARTMENT / THE UNIVERSITY OF THE STATE OF NEW YORK / ALBANY, NY 12234

signature of Jeff Cannell

TO:

The Honorable the Members of the Board of Regents

FROM:

Jeffrey Cannell

SUBJECT:

Report on Office of Cultural Education Finances

DATE:

March 21, 2008

 

STRATEGIC GOAL:

5

AUTHORIZATION(S):

 

 

SUMMARY

 

Issue for Discussion

 

Office of Cultural Education (OCE) finances, including the status of OCE’s major financial account.  This report will facilitate a discussion of issues in maintaining adequate revenues to support Cultural Education programs in the future.

 

Background Information

 

The Cultural Education Trusteeship Committee has received regular reports about the financial status of Cultural Education accounts. At the most recent committee meeting on March 18, 2007, Office of Cultural Education staff provided a written and oral report, which identified major funding sources and special revenue accounts and explained the types of programs, services, and personnel that each category of funding covered.  The report also indicated that the Cultural Education Account is facing a serious funding shortfall as a result of revenue declines and increased transfers of funds from the account for other purposes.

 

Proposed Handling

 

This updated information will come before the full Board in April for discussion.