May 31, 2025
Funds

CSCU profs ask to tap into $635M reserves; Regents noncommittal


With jobs on the line as state funding tightens, a group of faculty members from the state’s public universities went to a Connecticut State Colleges and Universities’ Board of Regents meeting Wednesday morning, hoping to convince them to use its multimillion-dollar reserve funds to directly fund teaching in the classrooms.

But they got no guarantees, leaving them “frustrated,” “disappointed” and “overwhelmed,” they said.

The system has about $635 million in reserves, according to a presentation given to the Board of Regents’ finance committee earlier this month. About $359 million of that is already designated, leaving $276 million unassigned. 

At the same time, universities are being asked to make cuts as federal coronavirus relief funds evaporate. The Connecticut State Colleges and Universities’ system is planning to reduce expenditures by $40 million next year and $37 million the following year, according to a presentation given at a Board of Regents Finance Committee Meeting in February. 

The Board of Regents did vote Wednesday to implement a new policy that could reduce the amount that the colleges and university system keeps in reserves.  

Lloyd Blanchard, the Chief Financial Officer for the Connecticut State Colleges and Universities, told members of the Board of Regents’ Finance Committee earlier this month that the reserve fund had grown over the past few years thanks to an influx of coronavirus relief funds and some cost savings. 

But Blanchard said that university policies requiring the system to set aside a certain percentage of funds had contributed to the buildup. He suggested that the Board of Regents modify the policy to eliminate some of the required set-asides. 

“The policies that we are proposing to change … in my opinion, have compelled us to set aside more than was necessary,” Blanchard said.  



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