1. 1 March 5, 2014 Budget Education

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

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

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

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

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

7. General Fund Budget Revenue Tuition - 76% Resident Students23% Non Resident Students24% Native American Students29% (Reimbursed by the State the year after waived) (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 7

8. General Fund Budget Expenditures Salaries/Benefits66% ClassifiedFaculty/Exempt Institutional Items27% Scholarships, utilities, contracts, audit Other Current Expenditures 7% (OCE) Departmental Operating (OCE) Departmental Operating 8

9. Budget Development ApproachIncremental 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 9

10. Budget Development Budget Compilation Steps Determine the change in revenue Determine the change in revenue Identify increases/decreases in Institutional/Non-Discretionary categories – includes Classified staff salary increases Identify increases/decreases in Institutional/Non-Discretionary categories – includes Classified staff salary increases Faculty/Exempt staff salary increases Faculty/Exempt staff salary increases Funding Requests Funding Requests 10

11. Budget Committee First discusses salary increases and equity adjustments First discusses salary increases and equity adjustments Prioritizes budget requests based upon effectiveness of proposal to accomplishing the Strategic Plan Prioritizes budget requests based upon effectiveness of proposal to accomplishing the Strategic Plan Makes recommendations to the President Makes recommendations to the President 11

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

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

14. Questions / Discussion 14