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.