Cal State System Faces $500 Million Budget Gap Under Newsom’s New Plan

California State University is facing a budget gap of $500 million for the upcoming 2024-25 fiscal year, officials revealed at a trustee board meeting last week. The state is also wrestling with an estimated $45 billion budget deficit for its fiscal year starting July 1. Gov. Gavin Newsom’s May budget proposal would include a one-time funding reduction of $75 million to CSU for the upcoming fiscal year that Mr. Newsom promises to restore the following year. The system—the state’s largest with 23 campuses enrolling more than 480,000 students— was also previously promised a 10 percent budget increase for the 2025-26 fiscal year but will now receive only 2 percent....