CMC board approves $62M budget for 2016-17
The Colorado Mountain College board of trustees has approved a $62.6 million operating budget for the 2016-17 academic year.
“The 2016-17 budget reflects some key reductions we’ve made so that we can absorb cuts to our revenue next year,” said Linda English, vice president of fiscal affairs for Colorado Mountain College. Trustees heard that overall revenues are expected to decrease by 2.6 percent from 2015-16, but cost reductions throughout the college will allow CMC to have a balanced budget.
“We have reduced our operational budgets, made changes to employee benefits, reduced legal expenses and increased minimum class size,” said English. “We know our employees have been working harder than ever under our ambitious strategic plan, so we strived to ensure that this budget also allows us to continue to pay college employees competitive wages by covering up to a 2.5 percent cost-of-living increase.”
The 2016-17 budget is tied to the college’s 2014-18 strategic plan, which the trustees have approved. Among the strategic goals the budget supports is that of increasing CMC’s inclusiveness, equity and diversity, by continuing the $1,000 President’s Scholarship for every in-district graduating high school senior, as well as creating initiatives to increase GED, ESL and degree completions.
The college is also upgrading technology, developing internal leadership training for employees and implementing the college’s sustainability plan.
The trustees also held a general discussion about creating a philosophy on student and employee housing. This follows more than a year of reviewing data and presentations about possible new campus facilities and housing throughout the college’s six-county district. In future board meetings, the trustees will hold discussions and at least one work session to define and set priorities for the next phase of capital projects.
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