CU’s Board of Regents discuss next year’s budget in February meeting 

At their Feb. 9-10 meeting, CU’s Board of Regents began budget planning for the CU System’s 2023-24 fiscal with three budget proposals.  

The Board of Regents is made up of nine members and focuses heavily on managing the entire CU system’s budget and funding. They also focus on diversity and making education affordable throughout the CU system. More information about what they do is located on their website

In their meeting, the Regents discussed a possible decrease in student enrollment and an increase in tuition, the budget and in the base hourly pay for students and staff throughout the CU system.  

District 5 Regent Ken Montera, whose district includes Colorado Springs, specifically broke down the potential increase in UCCS’ budget, which could be as high as $2 million. 

“Initial budget planning for the UCCS campus budget shows an increase headed into the [fiscal year] 2023-24 of around $3.9 million to $4.8 million, which ranges between a 2.3% to 2.8% increase over the current year,” Montera wrote via email.  

The proposal also notes that there will be an increase in tuition, which Montera said will impact UCCS students. He said that this increase will vary based on available state funding.  

The Board recognizes that with this increase in tuition comes the need for enough money to cover those costs. However, Montera said that the increase in base wages for all four campuses still needs to be voted on and formally considered.  

“Pay is a critical component that is part of the solution to hiring challenges and the budget planning at UCCS includes increases in compensation for faculty and staff. The board fully understands the need for appropriate compensation and the campus shares that commitment,” Montera said. 

The Regents will continue this budget planning at their next board meeting happening April 27-28.  

Students can learn more about these budget proposals and other official business by visiting the Regents’ BoardDocs website