{"id":113278,"date":"2019-06-27T08:39:43","date_gmt":"2019-06-27T14:39:43","guid":{"rendered":"http:\/\/communique.uccs.edu\/?p=113278"},"modified":"2019-06-27T10:06:00","modified_gmt":"2019-06-27T16:06:00","slug":"regents-approve-4-8-billion-cu-budget-for-2019-20","status":"publish","type":"post","link":"https:\/\/communique.uccs.edu\/?p=113278","title":{"rendered":"Regents approve $4.8 billion CU budget for 2019-20"},"content":{"rendered":"
\"2019<\/a>
CU Board of Regents<\/figcaption><\/figure>\n

The University of Colorado Board of Regents approved a nearly $4.8 billion budget for fiscal year 2019-20. It includes a 3% compensation pool for faculty and staff.<\/p>\n

The regents voted 8-0 \u2013 Regent Linda Shoemaker was absent \u2013 to approve the budget during the board\u2019s meeting June 14 at CU Boulder.<\/p>\n

The largest portion of revenue for the upcoming year is health services, at 25%, followed by federal, state and local grants (14.5%) and nonresident tuition (12.9%).<\/p>\n

Despite higher education gaining a 13% increase overall ($98 million; CU\u2019s share $30 million), Colorado remains 48th in the nation in state funding for higher ed, said Todd Saliman, vice president of finance and CFO. Direct state funding accounts for $263 million of CU\u2019s revenue, or 5.5%.<\/p>\n

The state budget, approved by Gov. Jared Polis in April, called for no tuition increase and flat mandatory fees for resident undergraduate students. The 3% merit increase for faculty and staff is in line with the mandatory classified staff increase in the state\u2019s FY 2019-20 budget, and will increase salaries across CU by $36.4 million.<\/p>\n

CU\u2019s 2019-20 budget by campus:<\/p>\n