CSU System Board of Governors Approves CSU Pueblo Budget for 2023-2024

The Board of Governors of the Colorado State University System approved budgets for its campuses this week that keep tuition increases below the rate of inflation and legislative allowances, while focusing on compensation for faculty and staff.

CSU System leadership thanked state legislators, particularly the Joint Budget Committee, and Governor Jared Polis for their funding support during a year of significant inflationary pressures. Statewide general fund appropriations to higher education in Colorado increased by 11.5% this year, with an 11% increase to the CSU System. 

“We started out this budget cycle hoping to cover mandatory costs and make progress on employee compensation – and we’re grateful we’ve been able to do both while keeping tuition increases at a reasonable level,” Chancellor Tony Frank said. “That has only been possible with the hard work and dedication of our state leaders, who recognize the importance of keeping Colorado higher education accessible, affordable, and able to compete for and retain top faculty and staff.”

The state this year allowed resident undergraduate tuition increases up to 5%, but the CSU campuses all kept increases below that level and below the rate of inflation.

The 2023-24 fiscal years starts July 1. The CSU Pueblo budget approved by the Board this week includes the following highlights:

CSU Pueblo

• CSU Pueblo will increase faculty and staff salaries by 5%, with an additional $250,000 set aside in incremental budget to address salary equities of faculty and staff. Interim provost, Chad Kinney, will invest an additional $200,000 toward faculty compensation.
• Undergraduate tuition for Colorado resident students will increase 3%, or approximately $100 a semester.

“Housing, health care, and inflation are placing a lot of pressure on employees who are trying to balance their own family budgets. The Board heard these concerns plainly and made them a priority in our budget process,” Frank said. “President Parsons in Fort Collins and President Mottet in Pueblo made employee salary increases a top priority in their budgets this year, and this will continue to be an area of focus.”

The three CSU System campuses, and the out-of-state students they attract in an average year, fuel nearly 23,000 Colorado jobs and roughly $238 million in state income and sales tax revenue annually. The campuses – the flagship research university in Fort Collins; CSU Pueblo, a regionally focused Hispanic-serving institution; and the fully online CSU Global – together enroll more than 50,000 new and returning students each year.

“I am incredibly proud of the way our campus collaborated this year to balance a budget, expand the appeal of campus, enhance the student experience, and develop our people. Working together, CSU Pueblo successfully managed a carryover COVID deficit and reduced our long-term debt by more than $1 million, while never losing site of our central mission to deliver high-quality academics to every student we serve,” President Mottet remarked. “To that end, we also committed more than $2 million toward faculty and staff compensation in the year ahead, ensuring we move all our employees closer to market.”

The three CSU System campuses, and the out-of-state students they attract in an average year, fuel nearly 23,000 Colorado jobs and roughly $238 million in state income and sales tax revenue annually. The campuses – the flagship research university in Fort Collins; CSU Pueblo, a regionally focused Hispanic-serving institution; and the fully online CSU Global – together enroll more than 50,000 new and returning students each year.