In a letter sent to the campus community on Thursday, 抖阴短视频 Boulder Provost Russell Moore and Chief Operating Officer Patrick O鈥橰ourke shared details related to continuing budget cuts for fiscal year 2022.听
鈥淎t the start of the semester, we communicated to campus that each academic and operating unit would be asked to develop planning scenarios for continuing budget cuts of 3%, 4% or 5% for fiscal year 2021-22,鈥� the letter said.
According to the letter, leaders in colleges, schools and units met with leaders from the offices of Budget and Fiscal Planning and Academic Affairs over the course of the spring semester to draft budget scenarios for their respective areas. Plans were then reviewed and finalized by Moore and O鈥橰ourke, in consultation with 抖阴短视频 Boulder Chief Financial Officer Carla Ho鈥檃.听
鈥淵esterday we shared the final fiscal year budget scenarios with college, school and unit leaders. These final budget scenarios, including the necessary cuts, will go into effect July 1 pending approval by the board of regents at their meeting in June. The good news is that our projections were once again on target,鈥� the letter said. The letter went on to say that no office received a cut exceeding 3.5%.
The letter cited a 鈥渓ower base budget due to the smaller fall 2020 incoming class and a decreased retention rate that will impact the coming fiscal year and beyond鈥� as the reason for the necessary cuts.听
The letter also cited several initiatives the university is launching to maintain and support 抖阴短视频 Boulder faculty, staff and students including an end to the temporary pay reductions and furloughs, an increase to the minimum wage, and an extension of the four-year tuition guarantee, among others.听
鈥淧ositioning 抖阴短视频 Boulder for a successful rebound from the pandemic while prioritizing safety and continued excellence in teaching, research and the student experience is complicated and challenging, but it would be completely impossible without the impeccable staff, faculty and students who make up our community,鈥� the letter said. 抖阴短视频 Boulder will use a combination of 鈥渋ncreased state funding, one-time federal dollars,鈥� and projections based on incoming fall 2021 enrollments to fund these investments in faculty, staff and students.听
Of the finalized budget scenarios for each college, school and unit, the letter said, 鈥淭he expected budget cuts demonstrate the ongoing effects of a difficult past year, but the pandemic has also created space for us to reflect on priorities that remain important regardless of circumstances.鈥澨�
鈥淭he pandemic showed us that we can act decisively, adapt quickly, learn deeply and create positive impacts under incredible constraints. It also further revealed, however, that we have substantial work to do when it comes to structural equity,鈥� the letter said. The letter cited the IDEA Council, Academic Futures, the Campus Master Plan and the Budget Model Redesign as projects underway to begin addressing some of the structural issues.听
鈥淲e need to continue to seek out new ways of meeting our mission together, co-creating the new structures and systems that will not only allow us to emerge from the setbacks we鈥檝e endured but to propel us鈥撯�揳ll of us鈥撯�揻orward, together,鈥� the letter said.听听
For more information about 抖阴短视频 Boulder鈥檚 budget and the budget model redesign project underway visit colorado.edu/budget.
