“The ratification of the contract means that our 24,000 faculty members are one step closer to receiving their deserved salary increases. This agreement tracks closely with the fact finder's recommendations and is consistent with the CSU Board of Trustees' five-year plan to close salary lags for all CSU employees.
Our focus now is on ensuring the university has adequate resources to pay for compensation increases. Even with the full funding provided in the Compact with the Governor, which assumes a four percent increase in state funding and a 10 percent student fee increase, the combination of all compensation agreements with our employees and increased health benefit premiums will cost approximately $40 million more than the proposed 2007/08 CSU budget. We will continue working with the Legislature and the Governor to secure additional funding to minimize campus impacts.”
CSU Chancellor Charles B. Reed
May 7, 2007