The UC Board of Regents will convene at UC San Francisco’s Mission Bay Community Center today to discuss methods to compensate for shortfalls within the UC system’s 2011-12 budget.

During the second and final day of the Board’s meetings, Committees on Compensation and Finance will discuss a number of financial decisions within the UC administration, including adjustments to chancellor salaries, an update on the 2011-12 state budget, funding plan options and financial aid strategies. Investor and political advisor David Crane — who was appointed as the Board’s newest member last December — will perform his duties as a Regent among growing public opposition.

The UC Student Association spearheaded a movement expressing official opposition to the appointment. According to a press release, the organization believes former governor Arnold Schwarznegger’s appointment of Crane was in conflict with the interests of the UC system and feels Crane’s deep political ties make him a poor candidate for a position requiring unbiased dedication to the university system.

UCSA President Claudia Magaña, a third-year student at UC Santa Cruz, said the association is frustrated with both Crane’s appointment and the governor’s lack of communication with students regarding his decision.

“We only received a letter after the appointment and there were absolutely no consultations prior,” Magaña said. “We are especially concerned with where he stands on collective bargaining and we hope our press release opens the opportunity to show the senate committee that Crane is not wanted.”

The board will also discuss UC President Mark Yudof’s recommendation of former Georgia College president Dorothy Leland as UC Merced’s new chancellor. According to a statement released by the UC Office of the President, Yudof recommended Leland because of her quality leadership at Georgia College, where she oversaw a 54 percent increase in federal research funding and other projects over the past five years.

“Dorothy Leland is a great fit for UC Merced at this pivotal stage of its development,” Yudof said in the press release. “She’s a proven leader who knows how to bring vision to a mission and how to build support from different people to get things done.”

The Committee on Finance’s meeting will focus on the California’s 2011-12 state budget, constructing a ‘Plan B’ contingency budget to address how the university system can handle the possibility of further decreases in state funding. There will also be deliberations concerning the Office of the President’s overall budget, which is expected to have a ceiling of $545 million — a 6 percent reduction from its 2010-11 budget of $577.5 million.

The Committee on Compensation will additionally discuss adjustments in position and pay for former UC Merced Chancellor Sung-Mo ‘Steve’ Kang and UC San Francisco Associate Vice Chancellor Eric Vermillion. As Kang transitions from Chancellor to a position as a ‘professor above scale’ in UCSC’s Electrical Engineering department, his current annual salary will decrease from $295,000 to $215,000. Vermillion may be promoted from Associate Vice Chancellor to Vice Chancellor due to an increase in his responsibilities and could see his salary increase from $277,500 to $298,313.