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March 5, 2014

Budget 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 Environment

Legislative Issues

Capital Construction Update

Native American Tuition Waiver

Scrutiny in Higher Education

FY 2014-15 Higher Education Funding

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External Environment

Colorado Futures Center StudyFunding for Higher Education in Colorado

Long Term ModelingReduce reliance on state supportQuasi-privatization

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Financial Structure

Total Campus FundingGeneral FundAuxiliary FundsConstructionGrants / Gifts

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Financial Structure

Primary FundsGeneral 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 Budget

ExpendituresSalaries/Benefits 66%

ClassifiedFaculty/Exempt

Institutional Items 27%Scholarships, utilities, contracts, audit

Other Current Expenditures 7% (OCE) Departmental Operating

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Budget Development

Approach

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 level

Permanent vs One time funding

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Budget Development

Budget 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 Committee

Five 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