Colorado small businesses are less likely to change health insurers for the upcoming year, even as they anticipate continued price increases, according to the second-annual Delta Dental of Colorado Small Business Survey.
Click here to read more
The budget, effective July 1, also includes a 9-percent tuition increase for resident undergraduates.
CSU’s budget includes state funding and tuition dollars, but does not include self-funded programs or research support. The general budget is $459 million, an increase of 6 percent from last year. The budget for the entire university is about $900 million, up about 4 percent from the previous year.
In addition to the tuition increase for residents, undergraduate nonresident tuition will increase 3 percent from last year.
The worst-case scenario, however, did not materialize, CSU said in its release.
Instead, the improving economy means CSU will be able boost salaries for faculty and staff by 3 percent.
It will be the first salary increase for employees since the 2008-09 fiscal year.
“After three years of some of the toughest budgets in CSU history, we’re very pleased to bring forward a budget that keeps tuition increases in the single digits and provides the first pay increase to our employees in four years,” CSU President Tony Frank said in a statement. “While we’re still taking a reduction in state funding, it’s far less than what we had built into our original budget planning last fall.”
The average cost of room and board at CSU will grow by $558, a 5.8 percent increase.
The total cost of attending CSU – tuition, fees and room and board – is expected to increase 6.6 percent over the prior year, a change of $1,165.
Frank used the news to repeat one of his key messages: The cost of educating a student at Colorado is the same as it was 20 years ago on an inflation-adjusted basis.
But what has changed is that 20 years ago, two-thirds of the cost of a CSU education was paid for by the state. Today, that ratio has flipped — individual students and their families pay for two-thirds of the cost, with the state paying one-third.
“While this budget contains much good news compared to recent years, it continues to reflect the privatization of public higher education in Colorado, with state support declining and students paying a greater share through tuition,” Frank said. “It is a fundamental challenge facing higher education in Colorado and throughout the nation.”