Since the university jacked the students with more fees to pay for the kissing bandit, maybe the university should roll back fees on students now that they’ve hired a coach that isn’t holding UH students for ransom.
The incremental 3 million would reduce student fees by $25 per semester.
Student fee increases didn’t happen to pay for Coach Herman. In fact the student fee increase happened several years before Herman and those went to the stadium. I believe at least 75% of the funds paying Herman came directly from donors and wasn’t part of his state salary. Not sure exact figures.
If you want tuition reduced, lobby the state to give more funds to state Universities. Unfortunately, tuition across the state (and in every state) is high because the states continue to cut higher education funding. Athletics is a drop in the bucket in regards to fees compared to what else you have to pay for.
Not meaning this post to be political; I feel for the students that have to deal with this.
How does a private company balance their books?
What oversight do public entities have?
We all know this but it has to be pointed out. I can tell you first hand that we live in two distinctive worlds. The private one and the public one to be precise.
When a company can’t control their spending they usually close doors. How do we balance our checking account?
When a public entity runs out of funds they ask for more funds. How is that responsible? Why can’t they be held accountable like everyone else is?
The private sector has seen a decrease in its yearly income. In fact people earn less today than they did in 2008. At the same time what is the public employees yearly income? This is salary plus benefits.
For some of you that live in California plug in a public employee that you may know. Here is the website.
Is that sustainable? You decide. There is probably one that exists for Texas.
It is important that we see and understand BOTH sides.
The state balances its budget by giving less to its public universities. We used to be substantially funded by the state. Now it’s about 10%. Tuition has outpaced inflation for many years.
Since the great recession, only a few private and for-profit colleges have shutdown. Much of the burden of higher tuition has been borne by the government and students.
And on that note, Khator tweeted this morning that the TX legislature will open session today with a $5 billion state budget shortfall.
Here are a couple of info that shed a little bit of a better light on what is really going on with the Texas public sector.
You can “plug in” any public employee that you know. This is public information.
Yes, our much maligned Mr. Zaretski makes…
Does that include his pension? No I do not think it does. Now read the following article.
http://watchdog.org/285551/texas-pension-crisis/
Is that reasonable spending? So what is going on here?
Yep, that’s been a “kick-the-can-down-the-road” problem for awhile now. Mayor Turner is having to deal with it now. Pensions were a great idea years ago when people had shorter life-spans, but it’s not so much the case now.
Military just had to switch their system to a 401K program for incoming recruits to try to survive the mounting costs it takes to pay us vets as we live longer. Don’t blame them, our retirement funds were going to bankrupt the nation eventually.
Here’s an article on what the new Texas congress is facing when it comes to education:
Yeah. I think they should have done it they way they do it for Reservists. You become eligible upon 20 yrs of service, but don’t start receiving your pension until your 60 yrs of age. It was unsustainable. (I am a veteran of 11-yrs active duty in the Air Force and currently serve in the AF Reserves for the last 3 years)
Retired military members typically will double-dip as well. They serve in the military, retire, and then get a GS government job for 20 years. They receive two pensions for life sometimes making upwards of $100k a year with full medical benefits.
I am in the minority. I went into the private sector.
Great points all around.
Here is an example of what has been happening in California.
Nothing against Mr.Malone but how is this system sustainable? This is one example but this does not start with a City Manager. It actually starts with every public employee. Again, this is not a knock against public employee but a KNOCK on the actual overall benefits payouts. We can’t leave in fantasy land any longer.
Gov Brown just announced that California would have a $2B shortfall due to reduced tax revenues. So that means he is going to go after the private sector again. More private companies will leave the state, same with residents. California might rank sixth on the world stage economy but is it a clear ranking?
Greece reminds everyone of what a country can become.
By the way, in California you can pretty much qualify for multiple pensions. Since the water agencies are public but for profit (see the conflict of interest) you can triple dipping.So you could have someone work for a city, School district and water agency. Yes, it is happening right now.
Who pays for these pensions? Yes, the tax payer. Now you understand why I am always hesitant when I see that there is a budget shortfall. Personal accountability is real. It is way overdue for public agencies to be held accountable. IT BENEFITS EVERYONE
Zaretsky is a full professor so that’s not too outrageous. My wife works at SMU as an associate professor (step down from full professor) and salaries are comparable. However, she has a 403b or the equivalent of the 401K for education. I don’t think there’s a pension but maybe some contribution/matching. There needs to be a lot less pension support and more 401K equivalents. The problem is the lower paid folks who don’t contribute to retirement accounts at nearly the same rate as higher paid employees. They’re the ones that get left out when pensions go away.
Just finished 18 years in and was medically retired due to back issues keeping me out of work still. Promised myself that I wouldn’t go back to GS once I recover. Saw too many switch over and the struggles of having to deal with quite a few of them on a daily basis (folks knew they were set so they didn’t want to really change with the times).
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