Tuesday, June 07, 2016

California's Stem Cell Agency Approves Nearly $19 Million Operational Budget

CIRM's budget comparisons. The column in the center reflects estimated final spending for this year.
A key committee of the California stem cell agency today approved an $18.9 million operational budget for its next fiscal year, a nearly 10 percent increase over its current level of spending.

The money will go for such things as salaries, meetings, travel and office supplies at the $3 billion state enterprise. It does not affect the size of its grant program, which has seen the agency hand out roughly $2 billion since 2005.

The increase of 10 percent largely reflects its failure to fill vacant positions at the Oakland-based organization, which has a staff of about 55.

The spending plan was approved unanimously by the Finance Subcommittee of the agency's governing  board with little discussion during a 20-minute teleconference meeting. The budget is expected to be ratified by the full board at its meeting June 15 in Berkeley. It will take effect July 1.

For more on the budget and the agency's unusual 6 percent budget cap, see here and here. Sphere: Related Content

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