A lack of knowledge on investing and saving means students will have less in their retirement fund than any other generation.
When Long Beach State students look back on their time at this school, instead of remembering that our volleyball team received a championship title or that we’re one of the only universities with shark tanks on campus, their memories will be filled with broken escalators and the lack of a mascot. Long Beach State should spend its funds on improving the academic experience, not on escalators and rebranding the university. Last June, former California Governor Jerry Brown increased state funding for the California State University system, allowing room for about 4,000 more students to enroll statewide. While that sounds positive, this means classes will increase in size and courses will fill up faster. To accommodate these changes, LBSU will need to spend more money on new infrastructures and hiring staff. Instead the university is spending on the new mascot campaign and repairing escalators that never seem to work regardless. Incoming students may be unaware of the university’s current financial situation, but upperclassmen know that last year the commencement ceremony was moved from the Central Quad to the Athletic Soccer Field and live music was almost cut in order to save money due to proposed budget cuts. According to President Jane
The California State University system audited Long Beach State on its cash handling and cashiering practices from July 1, 2016 to Aug. 24, 2018, and found a lack of effectiveness in “operational, administrative, and financial controls.” According to the audit report released on Oct. 5, the locations on campus that are authorized to handle money did not fully comply with LBSU and statewide requirements. The findings revealed that money management in general needs improvement, but they found that this did not keep finances from being managed in order to meet objectives. The auditing team reviewed five locations on campus: the Carpenter Performing Arts Center, College of Continuing and Professional Education, Community Clinic for Counseling and Education Services, the main cashier’s office and the physical therapy department. “The audit told us that one of our deficiencies was that the students or cash handlers need to be taught how do cash handling better,” said Jesse Luna, Associated Students Inc. treasurer. LBSU also “had an appropriate framework” for handling cash, but many locations had trouble following through on the policies set in place. The audit report did not specify which problems related to which campus location. However, the auditors found that there were