The University of Colorado saved nearly $32 million in fiscal year 2015-16 through continued and expanded efficiencies across the campuses and system. Todd Saliman, vice president for budget and finance and chief financial officer, presented the numbers to the CU Board of Regents at its Nov. 10 meeting at 1800 Grant St.
CU Boulder saw a savings of $7,057,795 through 50 new actions, including:
- Increased employment of student workers, providing direct work experience and reducing annual labor costs by $316,800.
- Housing and Dining uses purchasing price programs and rebate programs to negotiate and reduce costs of supplies, resulting in annual cost savings of $736,600.
CU Colorado Springs enacted 38 new efficiencies for a savings of $879,457, including:
- Creating a book rental system for students for a cost savings directly to students of $237,257.
- Using Digital Measures software for reporting faculty activities and Qualtrics software to administer online surveys is saving $80,000.
CU Denver | Anschutz Medical Campus reported 74 new efficiencies for savings of $6,907,522, including:
- A $1.9 million savings through a consolidation of Health Science Library academic resource subscriptions across CU campuses, known as CLERT – Colorado Libraries Electronic Resources Team.
- Cost avoidances and savings of $571,575 through redistribution of duties to current full-time staff and faculty members.
- Colorado School of Public Health realized $315,000 in savings by restructuring and reorganizing administrative areas.
- School of Public Affairs saved $120,000 by eliminating two positions and redistributing their duties.
The report was the second in the university’s efforts to annually track increased efficiencies to deliver a greater value to students, the university and the state. The first report, requested by the regents in 2015 as a baseline, highlighted $40 million in savings. Saliman told the board after the initial report that some years would be more than the $40 million and some, such as this year, would be less.