Overview
Campus Budget Committee
The Budget Committee is responsible for making recommendations to the president, for approval by the Board of Trustees, that will ensure a balanced and sustainable college budget over the next three years.
The committee regularly informs the college community about the process and results of its work.
The Campus Budget Committee informational slide-deck, 2022 Spring
Contact us or send feedback: budgetcommittee@coloradocollege.edu
The Campus Budget Committee has been charged in 2021-22 with the following:
- Discuss the strategic implications of our comprehensive fee in the context of the market in which we operate (our peer institutions and private higher education), including the potential for an increase in the discount rate;
- Propose tuition, fees and room and board charges for 2022-23 in at least three scenarios (conservative, neutral, and optimistic). Provide a multi-year budget projection;
- Assure that there are sufficient funds in the faculty salary pool to provide for a “cluster” hire of at least three senior faculty members in support of the anti-racism initiative;
- Use advice from the Compensation Committee to recommend changes in compensation for faculty and staff, including:
- modeling the feasibility of offering appreciation to staff who stepped up in front-line roles during the pandemic,
- addressing the cost of living for our lowest paid staff, and the compression resulting from adjusting their compensation upward, and
- finding a way for every employee to receive a raise, recognizing the cost of living in the area;
- Allocate funds to address any of the college’s ongoing commitments that are not adequately funded in the operating budget, funds to support the college’s anti-racism commitment, and funds to assist with the highest priority budget requests received from the campus community;
- Develop a multi-year plan for our budget that recognizes anticipated external forces while strengthening our commitment to the College’s mission and our commitment to anti-racism;
- Recommend and pilot a process (or processes) that will inform decision makers in a transparent and objective manner regarding submission of new budget requests, funding for new initiatives and the continuation of unfunded mandates; and
- Communicate actively with working groups about the College’s strategic direction, and update faculty and staff on progress.
Annual timeline for Campus Budget Committee
Summer:
Formed by committee chair, Staff Council, and Faculty Executive Committee
Fall:
Presentation of the charge by the college president (August/September)
Regular meetings to discuss college priorities and work on the charge (September-November)
Regular communication with the Compensation Committee (September-November)
Presentation of completed recommendations to the college president (December)
Spring:
Conversation with the Board of Trustees about recommendations as needed (January/February)
Planning and work on multi-year objectives (January-May)