Amid rising uncertainty about California’s economic health, one of the state’s leading business schools is preparing to give up state support, according to the Financial Times.

The Anderson School of Management at the University of California, Los Angeles, will seek to fill its budget gap with private donations under a plan awaiting approval from Mark Yudof, president of university system. The Anderson School gets about 18 percent of its $90-million budget from the state.

Spending on higher education has slipped from 10 percent of California’s budget 30 years ago to 7.5 percent today, and the Cal system is facing an $800-million deficit, prompting campuses to cut classes and raise tuition fees.

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