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Budget Educatio n

Budget Educatio n. March 5, 2014. Agenda. External Environment Financial Structure General Fund Budget Overview Budget Development Budget Committee Budget Approval. External Environment. Legislative Issues Capital Construction Update Native American Tuition Waiver

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Budget Educatio n

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  1. Budget Education March 5, 2014

  2. Agenda • External Environment • Financial Structure • General Fund Budget Overview • Budget Development • Budget Committee • Budget Approval

  3. External Environment • Legislative Issues • Capital Construction Update • Native American Tuition Waiver • Scrutiny in Higher Education • FY 2014-15 Higher Education Funding

  4. External Environment • Colorado Futures Center Study • Funding for Higher Education in Colorado • Long Term Modeling • Reduce reliance on state support • Quasi-privatization

  5. Financial Structure Total Campus Funding • General Fund • Auxiliary Funds • Construction • Grants / Gifts

  6. Financial Structure Primary Funds • General Fund • Auxiliary • Pledged • Housing /Dining/Bookstore/Student Life Center / Health & Counseling Center • Non Pledged • Student Activities, Continuing Education, Athletics, Special Projects

  7. General Fund Budget Revenue 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 Fund Fee 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

  8. General Fund Budget Expenditures Salaries/Benefits 66% Classified Faculty/Exempt Institutional Items 27% Scholarships, utilities, contracts, audit Other Current Expenditures 7% (OCE) Departmental Operating

  9. Budget Development Approach Incremental Only 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

  10. 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

  11. 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

  12. Budget Committee Five Year planning model Allows the committee to evaluate the impact of current year funding decisions on future budget years

  13. Budget Approval Total budget submitted by the President to the Board of Trustees for approval

  14. Questions / Discussion

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