To ensure that it sets self-supported extended education fees in accordance with state law and Executive Order 1054, CSU Sacramento should immediately take the following action: prepare statements of revenues and expenditures for the ongoing programs we discuss in this report, and, if necessary, increase or decrease those programs' future fees to appropriate levels.
We are providing a spreadsheet that lists the expenses for each year incurred with respect to the MS in Geology. These include 2010-11 (pre-launch), 2011-12 and 2012-13. In addition, we projected the expenses for 2013-14 and 2014-15. Most students completed their coursework by Fall 2013 and are now moving to the thesis stage. The revenues and expenses related to courses and thesis supervision for this year and the revenues and costs associated with thesis supervision for next year have been projected.
The documentation also shows that the forecasted surplus over five years (development to graduation of this cohort) at the present time is $55,324.33. This represents 13.26% of the projected cumulative revenues. Barring any other unforeseen expenses, this residual would be split evenly between the College of Natural Science and Mathematics and CCE. The residual of 6.6% to CCE would be used as a development fund to start other projects.
In process, we expect to complete by June 10, 2014
†Response Type refers to the interval in which the auditee is providing the State Auditor with their status in implementing recommendations made in an audit report. Auditees must submit a response regarding their progress in implementing recommendations from our reports at three intervals from the release of the report: 60 days, six months, and one year or subsequent to one year.
*Agency responses received after June 2013 are posted verbatim.