The Board of Governors of the Colorado State University System today approved a total budget for the CSU System, including the Fort Collins and Pueblo campuses, of approximately $880 million including state funds, tuition, fees and research dollars.
This budget also covers expenditures for Colorado State University’s Denver operations as well as 59 Extension offices, eight Agricultural Experiment Stations and Colorado State Forest Service operations throughout the state.
The education and general budget for the Fort Collins campus is $406.5 million. This budget reflects a revenue increase over last year of $39.2 million, including $11.2 million from state funds.
As part of the budget, the board also approved expected tuition increases in the 2008-2009 academic year. Resident undergraduate students will pay $4,424 in annual tuition – an increase of $384 over last year. If a student lives on campus and attends full-time for one year, the cost of attendance is estimated at $14,976, an increase of $1,487 over 2007-2008. Non-resident undergraduate students attending full-time will pay $20,140 in annual tuition, an increase of $2,660 over last year.
Even with the increases, Colorado State is one of the most affordable universities among its peers.
CSU-Fort Collins plans to invest the new funds in several key areas that align with the Board of Governors’ goals to "stretch" the university’s potential. Budget support for the stretch goals, now in their second year, includes:
-The university plans to invest $6.9 million to improve the teaching and learning environment. Among the additions will be 10 new faculty positions to address the growth in academic and research interests, particularly in fields of study in new energy and climate change.
-The university will invest $2.4 million in research and development so it can expand its efforts in solving global issues – such as indoor and outdoor air pollution in the developing world – where it has had notable success.
-The university will commit more than $16 million to faculty and staff retention with an average 5 percent salary increase.
-An investment of $2.3 million will bolster the university’s leadership in STEM (Science, Technology, Engineering, Mathematics) education, continuing its enrollment gains including gains among diverse students, and upgrading classrooms.
In addition to the stretch goals, $3.4 million will go to financial aid.
A significant portion – 70 percent – of the new revenue allows the university to cover mandated costs at the Fort Collins campus.
"We appreciate the Legislature’s support and are encouraged by progress in several areas, including state funding support for economically important university research in the biosciences, and a bill that eases funding restrictions on our Colorado Water Institute and supports the development of a statewide collaboratory for water education and research," said Larry Edward Penley, president of Colorado State University and chancellor of the CSU System.
The university started the budget planning process in August 2007, which included meetings and hearings with the state Legislature.
"The involvement and input of students, faculty, staff, and administration has been a hallmark of this process, and I believe this is a budget that places primary emphasis on advancing the academic quality and climate at this university," said Tony Frank, CSU provost and senior executive vice president.
A full-time resident student at CSU-Pueblo will pay an annual tuition of $3,422 in 2008-2009. This is an increase of $238 over the 2007-2008 academic year. Annual tuition for a full-time non-resident student at CSU-Pueblo will not increase and will remain at $13,543. Total cost of attendance for a full-time resident student at CSU-Pueblo, which includes base tuition, student fees and room and board, will be about $10,718.
"Colorado State University is making great progress on the aggressive stretch goals set by the Board of Governors, helping to achieve the highest levels of excellence in education, research and outreach to the state, nation and world," said Douglas L. Jones, chairman of the CSU Board of Governors. "This budget will go a long way in improving on what is already one of the nation’s premier research institutions."
The board’s stretch goals include adding 450 new faculty, increasing enrollment by 6,000 students and doubling research spending to $500 million in the next four years – to remain a competitive contributor to the Colorado and global economies and to provide the best possible educational experience for all students. To help meet those stretch goals, the board in 2007 approved a $175 million bond issue for the university system to improve the quality of facilities for students. That includes, among others, improvements to the University Center for the Arts, a new Computer Science building and an addition to the business college’s Rockwell Hall in Fort Collins.