Budget Educatio n

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March 5, 2014Budget Education

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Agenda

External Environment Financial Structure General Fund Budget Overview Budget Development Budget Committee Budget Approval

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External EnvironmentLegislative IssuesCapital Construction UpdateNative American Tuition WaiverScrutiny in Higher EducationFY 2014-15 Higher Education Funding

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External EnvironmentColorado Futures Center Study

Funding for Higher Education in Colorado

Long Term ModelingReduce reliance on state supportQuasi-privatization

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Financial StructureTotal Campus Funding

General FundAuxiliary FundsConstructionGrants / Gifts

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Financial StructurePrimary Funds

General Fund Auxiliary

PledgedHousing /Dining/Bookstore/Student Life Center / Health & Counseling Center

Non PledgedStudent Activities, Continuing Education, Athletics, Special Projects

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General Fund BudgetRevenue

Tuition - 76%Resident Students 23%Non Resident Students 24%Native American Students 29% (Reimbursed by the State the year after waived)

State Support - 19%College Opportunity FundFee for Service Contract

Other Income - 5%Interest income, charges for service (application fee,

matriculation fee), Technology Fee, Career Services Fee, Arts Fee, Course specific fees

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General Fund BudgetExpenditures

Salaries/Benefits 66%ClassifiedFaculty/Exempt

Institutional Items 27%Scholarships, utilities, contracts, audit

Other Current Expenditures 7% (OCE) Departmental Operating

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Budget DevelopmentApproach

IncrementalOnly considered the differences

Base budgets Assume all items start where they ended in the previous year

budget process

Reallocation occurs at the Vice President levelPermanent vs One time funding

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Budget DevelopmentBudget Compilation Steps• Determine the change in revenue• Identify increases/decreases in

Institutional/Non-Discretionary categories – includes Classified staff salary increases

• Faculty/Exempt staff salary increases• Funding Requests

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Budget Committee• First discusses salary increases and

equity adjustments• Prioritizes budget requests based

upon effectiveness of proposal to accomplishing the Strategic Plan

• Makes recommendations to the President

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Budget CommitteeFive Year planning model

Allows the committee to evaluate the impact of current year funding decisions on future budget years

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Budget Approval

Total budget submitted by the President to the Board of Trustees for approval

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Questions / Discussion