The Board of Governors of the Colorado State University System today approved a $33.1 million 2007-08 educational and general budget for Colorado State University-Pueblo that includes significant support for increasing enrollment and graduation rates.
The budget also addresses financial aid increases and faculty salary equity adjustments.
“All in all, this budget—reached after considerable deliberation and discussion—provides a basis for future progress at Colorado State University-Pueblo,” said Larry Edward Penley, chancellor of the Colorado State University System. “CSU-Pueblo is an important educational and economic resource for southern Colorado, and we are committed to providing the resources needed to continue to enhance the quality and competitiveness of the institution. That is why I proposed to the Joint Budget Committee to equalize CSU-Pueblo’s funding with similar sized Colorado colleges and universities. I will do so again this next year in my presentation to the Joint Budget Committee.”
“We appreciate the governor’s support throughout the budget process. I am encouraged by the ongoing discussions with state leadership about the magnitude of the funding challenges facing all of Colorado State’s campuses, and we expect to work together in the coming year to continue to address these challenges.”
The budget includes a tuition increase on the Pueblo campus of $104 per semester for full-time resident students, and no increase in tuition for nonresident students. Full-time tuition for resident students will be $3,184 per year, and full-time tuition for nonresidents will remain at $13,543 per academic year.
According to a recent analysis, the full-time resident tuition and fees rate at CSU-Pueblo is only 63 percent of the tuition and fees charged by such peers as the University of South Carolina-Upstate and Missouri Western State University and is lower than its in-state peers, the University of Colorado at Colorado Springs and the University of Northern Colorado.
Significant funding in this year's CSU-Pueblo budget is focused on the university’s “stretch goals,” which aim to increase enrollment and retention in the next five years and improve the quality of education for all students.
“A major goal for us is to improve our retention rates and our four-year graduation rates. Student success is our number one priority,” said CSU-Pueblo President Joseph Garcia. “These additional funds will help us toward those goals.”
“The Board of Governors has set aggressive stretch goals for Colorado State University-Pueblo to achieve the highest levels of excellence in education, outreach and regional economic impact,” said Douglas L. Jones, chairman of the CSU Board of Governors. “This budget will go a long way in helping the university reach new levels of success.”
Of its $2.1 million increase for 2007-2008, CSU-Pueblo will spend $1.7 million to meet its mandated costs such as utilities and salary increases and $415,000 to make progress toward its stretch goals.
The board also authorized the sale of a $175 million bond issue for capital construction and improvement projects for the university system, including a new Student Recreation Center in Pueblo. Recently, the board also passed a resolution that provided for system enterprise status. One of the positive results of that status is that CSU-Pueblo’s debt service will be lower than it would have been if CSU-Pueblo had issued its debt as a lone institution rather than as part of the Colorado State University System.
Capital improvements and construction are major initiatives at CSU-Pueblo in the next few years. Additional campus housing is a major priority for the university, which is now investigating financing options for an additional 400 beds. Other capital projects at CSU-Pueblo include a newly completed Student Multipurpose Recreational Field, and a new Student Recreation Center, which has a June 2008 completion date. The university is requesting state funding to begin renovating the University Academic Learning Center (Library) and is planning cash-funded projects to renovate the Occhiato University Center and build new student housing. Long-term, CSU-Pueblo is planning renovations of its Professional Studies (Technology) and Humanities and General Education (Art/Music) buildings as its next two state-funded projects.
Colorado State University - Pueblo is a regional, comprehensive university emphasizing professional, career-oriented, and applied programs. Displaying excellence in teaching, celebrating diversity, and engaging in service and outreach, CSU-Pueblo is distinguished by access, opportunity, and the overall quality of services provided to its students.