UC Faces $125 Million in Cuts Amid State Budget Deficit

The University of California said anticipated state budget cuts would slash its annual revenue by $125 million for the upcoming 2024-25 fiscal year. The state is wrestling with an estimated $28 billion budget deficit for the fiscal year starting July 1. University officials confirmed the cuts—which amount to about 2.5 percent of its annual state revenue—during a regents board meeting May 13. The one-time cut will be restored to the system during the 2025-26 school year under Mr. Newsom’s plan to reconcile the current deficit. The UC system, which has 10 campuses across the state, would also get a 2 percent budget increase in 2025-26 under the governor’s proposal—less than the 10 percent increase he pledged the system in January....