Thank you, Chair Carter.
Last month Bill Eisenhardt made the official announcement that he will be retiring as Cal Maritime President. During his tenure, Bill has taken Cal Maritime to the next level where it is recognized nationally as one of the very best maritime academies. We will certainly miss his leadership and expertise.
Currently the CSU is facing five presidential vacancies, which is more than ever in its modern history. In addition to Cal Maritime, we are going to be filling positions at Fullerton, Northridge, San Bernardino, and San Francisco. This has been a very stable group for a very long time.
Together, these presidents represent more than 80 years of service. I am proud of their collective longevity as presidents, and we have benefited from their wisdom and experience over many years. But now we have some big shoes to fill.
It is incumbent on us—now more than ever—to find qualified and talented leaders who can take on this job during a very challenging time. One thing is for sure: Our students, our faculty and staff, and our communities deserve the very best.
Right now the search for presidents at Northridge and Fullerton are underway. We will start the San Bernardino and San Francisco searches in January. We will need all the assistance we can get in conducting these critically important searches.
Regarding the budget, we anticipate that the Department of Finance will pull the "trigger" to cut us another $100 million. We are as prepared as we can be to take this cut without increasing tuition mid-year. But many campuses are operating structural deficits for 2012/13.
Right now we are looking at a $498 increase in tuition for next year. But we will ask the governor and the Legislature to buy out that increase. In relative terms, it is a modest increase. Without the buy-out, undergraduate tuition will still amount to less than the national average of our comparison institutions.
I want to give a special thank you to our budget team, both here and in Sacramento—and to our presidents and trustees—all of whom have been working very hard on behalf of the CSU's budget.
Last, I want to let you know that as of last month, Cal State TEACH has been awarded full accreditation from the California Commission on Teacher Credentialing (CTC)—meeting all standards fully. The program was commended for its mentoring of candidates, and for the organization of the accreditation website and site visit.
We started Cal State TEACH in 1999 and since then it has helped make high-quality teacher preparation accessible to thousands of candidates all over California.
Thank you to our regional directors, faculty, staff, candidates, graduates, and school partners for all of their hard work.
Chair Carter, that concludes my report.