This post was updated Nov. 13 at 9:20 p.m. UCLA is launching a new leadership coalition to manage the university’s budgetary shortfall amid state and federal funding cuts, Chancellor Julio Frenk announced in a Wednesday campuswide email.  Frenk, who will chair the Executive Budget Action Group, said in the email that the group’s creation was prompted by “structural budget deficits, federal and state funding uncertainties, and rising costs,” which challenge the university’s academic mission.  The budget action group will create guidelines for future campus financial decisions, investigate specific areas for improvement in its investments and emphasize transparency in all of its budgetary decisions, Frenk said in the email.  “Our North Star is to ensure that the resources entrusted to us add maximum value back to society while protecting the academic core that defines UCLA’s strength,” he said.  The California State Legislature and Gov. Read more...

Photo: Chancellor Julio Frenk’s Wednesday campuswide email announcing the creation of a new budget action group sits on a computer screen. Frenk said in the email that the coalition will manage UCLA’s budgetary shortfall amid state and federal funding cuts. (Andrew Ramiro Diaz/Photo editor)