Cal U. ends fiscal year with a surplus
CALIFORNIA – California University of Pennsylvania ended its last fiscal year with a $478,000 surplus.
Cal U. President Geraldine M. Jones said the surplus will be set aside to support new initiatives in the 2019-20 term, including the molecular biology program.
Some of the money will used to support existing academic programs, continue ongoing marketing and branding campaigns and new capital improvement projects.
“All of these areas are vital to the university’s overall strategic enrollment plan,” Jones said.
The administration also presented a balanced budget of $120 million for this term without dipping into the university’s fund balance.