Colorado State University today released its annual Financial Accountability Report – a non-subjective report that details the university’s finances including total university revenue and expenditures.
The full report is available at http://busfin.colostate.edu/finstmt.aspx.
The report also reviews a five-year history of university revenues and expenditures. Information provided in the report is presented in accordance with Generally Accepted Accounting Principles and is consolidated into the annual audited financial statements of the Colorado State University System.
The Financial Accountability Report, which is issued every year once the annual financial audit has concluded, provides a useful snapshot of the university’s financial position, revenue and expenditures. It also highlights some of the university’s major accomplishments in the past year.
"This report provides an overview of the university’s financial statements as part of our overall effort to be transparent and accountable to the people we serve,” said Tony Frank, president of Colorado State University. “These are difficult financial times, and we want to ensure that we’re responsible stewards of public funds — and that we stay focused on our mission to provide access to a high-quality education to our students, research that advances our society, and service to Colorado residents that addresses critical economic needs.”
• The amount of money that the university spends on instruction and academic support has remained consistent during the past five years at 31 percent of all university expenditures.
• In FY 2009, students provided $191.4 million (23 percent) of CSU’s revenue through their share of tuition and fees; the university spent $245.9 million on academic instruction and academic support (31 percent).
• Colorado State University is the second lowest among its 12 peers in resident undergraduate tuition and fees ranking only above North Carolina State University.
• CSU’s tuition increases remain 14 percent below the average peer increases during the last decade.
• In FY 2009, the state of Colorado used State Fiscal Stabilization Funds – stimulus money provided by the federal government in the form of a grant – to replace the state’s fee-for-service revenue and College Opportunity Fund stipends.
• The percentage of expenditures spent on administrative or institutional support was 4.2 percent of total expenditures in FY 08-09, putting CSU below national averages.