Broke University to pay consultant $3 Million to help it find ways to save money

Excessive budget-cutting consultant fees not on chopping block says handsomely paid consultant

"The only way the university will be able to cover the costs of its librarians," said the consultant, "is by selling all the books in the university's library on Amazon.com."

"The only way the university will be able to cover the costs of its librarians," said the consultant, "is by selling all the books in the university's library on Amazon."

BERKELEY, CA. –  UC Berkeley has reached an agreement to pay a consultant $3 million to help the school find new ways it can save money. The consultant suggested that the university could cut its budget deficit by up to $1.2 million if it: cut faculty pay; laid off some employees; sold a portion of its campus; and raised student fees.

These, and other similar suggestions were part of the what the consultant calls its first phase of budget suggestions. The consultant said such suggestions were merely intended to be short-term fixes, much like a band-aid gently placed over a newly severed limb. The consultant urged everyone not to confuse its first phase of budget suggestions with its second phase of budget tips which include “long-term financial strategies.”

Budget analysts say the consultant’s second phase of budget tips could potentially save the university up to $6 million a year in the long term. “We think we have a great opportunity to save millions of dollars every year, if the consultant would just tell us what the second phase of tips are” said UC Berkeley Vice Chancellor Yeary in an announcement posted on the university’s website Monday morning. Sources close to Chancellor Yeary say the university has nearly secured all the funding to cover the consultant’s $8 million asking price for its second phase of suggestions. Read more of this post

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