CMC Trustees approve college 2014-15 budget
June 21, 2014
At the Wednesday, June 18 meeting of the Colorado Mountain College Board of Trustees, the board voted unanimously to approve the college’s overall operating and capital budget of $60.6 million for 2014-15.
The general operating budget, of $56.3 million, reflects a 1.8 percent increase over the current year’s budget, which is in line with inflation.
The 2014-15 budget is based on projections that enrollment will increase by at least 2 percent and state-based financial aid will grow by at least 50 percent.
Revenues are projected to be higher overall than in the current year by almost $1.5 million, primarily due to increases in state funding and net tuition revenue. After holding tuition rates constant for the previous two years, increases of 2 to 6 percent were approved for 2014-15.
Four new full-time faculty will be hired in 2014-15 to provide direct support to students in the classroom, along with a learning management system administrator and faculty trainer. A new position to support veteran enrollments and transcript evaluation will also be hired.