CMC board OKs 2017-18 budget
The Colorado Mountain College board of trustees, at its June 23 meeting in Glenwood Springs, approved a 2017-18 general operating fund budget of $65.5 million.
“This balanced budget reflects an increase over 2016-17 of 1.2 percent, which is well below inflation,” according to a news release from the college.
The released noted that projected revenues for the coming year reflect a $79,000 decline in property tax revenues, with a slight increase in state revenues and motor vehicle ownership taxes.
The budget includes cost-of-living salary increases of 2.5 percent for full-time and part-time employees, while achieving cost savings through efficiencies in the structure of retirement plans and salary savings via the college’s voluntary early retirement plan and other staff turnover, according to the release.
The budget is based on an expectation of flat enrollment for the 2017-18 year.
Earlier this year, college trustees also approved a $3-per-credit-hour tuition increase for the upcoming academic year. The in-state, but out-of-district, rate was also increased by $20 per credit hour, and out-of-state students will pay $11 more per credit hour for the ‘17-’18 year.