Board of Regents approves $3.04 billion budget for FY 2013-14

Figure represents 2.3 percent increase over prior year

The CU Board of Regents on Friday unanimously approved a $3.04 billion budget for the University of Colorado for fiscal year 2013-14. The budget increased by $68.6 million, or 2.3 percent, from the 2012-13 revised budget.

Key revenue increases include:

  • Health services revenue, from $547.5 million to $585.3 million – a $37.8 million increase
  • Resident tuition revenue, from $359.9 million to $386.5 million – a $26.3 million increase
  • Nonresident tuition revenue, from $360.7 million to $380.5 million – a $20.1 million increase.

Budget breakdown by campus/administration:

  • CU-Boulder, $1.29 billion
  • UCCS, $186.9 million
  • CU Denver, $246.4 million
  • CU Anschutz Medical Campus, $1.3 billion
  • System administration, $92.4 million

As university leadership looks ahead, Todd Saliman, vice president and chief financial officer, asked the board to consider whether it would prefer to budget year-to-year (as is done now), enact a multi-year plan or a hybrid of both.

When asked by Board of Regents Chair Michael Carrigan for their preference, campus chancellors said they favored a multi-year plan, as long as it allowed for flexibility.

The board will further consider its options as planning for FY 2014-15 begins in the fall.

 

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