The University of Northern Colorado Board of Trustees moved through a lengthy agenda for its final meeting of fiscal year (FY) 22 on Friday, June 10, approving next year’s budget and receiving an update on the next phase of the university’s strategic plan, Rowing, Not Drifting 2030. 

FY23 Budget 

The university will end FY22 with a cash balance of more than $77.2 million, its highest since FY13. That figure includes setting aside $15 million from federal stimulus funding and oil and gas royalties to support the normalization of operations and investments in FY23 and FY24. UNC’s FY23 budget includes $186.3 million in net revenue, $191.4 million in operating expenditures and $3.8 million in capital transfers, leading to a projected budget deficit of $8.9 million. The deficit includes a 6.2% decline in net tuition and fee revenue, primarily due to projected declines in undergraduate enrollment at 10% and graduate enrollment at 1.8%.  

In terms of state funding, UNC will see a total of $57 million from the state in FY23, an increase of $5.3 million compared to the $2 million initially proposed by the governor’s office last November. That increase is due in part to the significant efforts of higher education leaders in Colorado, including UNC’s President Feinstein, as they continue to petition legislators to more adequately fund higher education in the state.  

The FY23 budget also includes increases of 2% for undergraduate resident tuition, 3% for undergraduate non-resident tuition, 2% for graduate tuition, 3% for student fees, 5% for room rates and 7% for board rates. The increase in the total cost of attendance (tuition, fees and room and board) for the average undergraduate, resident, full-time student amounts to about $957 a year. However, due to increases in institutional, state and federal aid, the average student’s out-of-pocket expenses for tuition and fees decreased, from $2,766 in FY22 to a projected $2,204 in FY23.  

Strategic Planning 

UNC President Andy Feinstein provided an overview of the university’s strategic planning efforts, detailing progress to date as work in Phase 1 wraps up at the end of June, and what’s next for Phase 2. Some of the key highlights from Phase included efforts related to improving recruitment, admissions, retention rates, graduation rates and the overall student experience through its Students First Framework, the engagement and readiness work that has been undertaken as part of UNC’s efforts to become a Hispanic Serving Institution, and the intentional efforts to create systems of accountability, effectiveness and collaboration that prioritize diversity, equity and inclusion. 

As the university moves into Phase 2 of its strategic plan, key actions and tactics will focus on the development of a strategic enrollment management (SEM) plan, an academic portfolio management plan, a campus/facilities master plan and a marketing and communications plan informed by UNC’s recent brand audit. Feinstein also highlighted actions that will continue to support the university’s commitment to fostering student success, as well as developing and implementing faculty and staff recruitment, engagement and retention plans. 

In other news: 

• Board members heard and approved a proposal from Kirsten Fleming, UNC’s new provost, regarding proposals for new graduate-level offerings. Beginning fall 2022 UNC will add two new concentrations to the Master of Business Administration program in the areas of Accounting Analytics and Marketing, as well as a new online graduate certificate in Brewing Sciences.  
   
• The board approved several action items, including the FY 24 Capital Plan, a recommendation for the sale of university property, faculty promotions and tenure recommendations and emeritus status recommendations for 11 faculty members. 
   
• The board approved a five-year contract extension for Lyndsey Oates, UNC’s volleyball coach. Oates has guided Northern Colorado to a total of four Big Sky regular-season titles and six conference tournament titles since joining the Big Sky in 2006. Under her leadership, the program has earned AVCA All-Academic honors for 10 straight years and is looking to secure the honor for an 11th consecutive year this summer.