[00:00:03] ALRIGHT. LOOKS LIKE WE'RE STREAMING. CORRECT? YES. OKAY, GREAT. SO WE'RE NOW IN PUBLIC SESSION. [B. 11:00 a.m. CALL TO ORDER/PUBLIC MEETING, Chair Rennison presiding] WE HAVE MANY ITEMS FOR CONSIDERATION. UP FIRST IS AN ACTION ITEM. [1. Action Item: Award of Tenure (1): University of Colorado Anschutz Medical Campus] A WORD OF TENURE AT THE UNIVERSITY OF COLORADO ANSCHUTZ MEDICAL CAMPUS IS THERE. IT SAYS IT'S ASKING FOR DISCUSSION FIRST. DO I DO DISCUSSION BEFORE THE MOTIONS EFFIE? YOU CAN ON THIS OR WE CAN TAKE A MOTION FIRST. OKAY. EITHER WAY. SO IS THERE ANY DISCUSSION ON THIS ITEM? OKAY SEEING NONE, IS THERE A MOTION IN A SECOND. SO MOVED. THANK YOU. WILL GIVE THE MOTION TO REGENT SPIEGEL THE SECOND TO REGENT VANDRIEL ALL IN FAVOR, PLEASE SAY AYE. SEEING NONE OPPOSED. THE MOTION PASSES. THANK YOU EVERYBODY. B2 ACTION ITEM APPOINTMENTS WITH TENURE AT THE UNIVERSITY OF COLORADO ANSCHUTZ MEDICAL CAMPUS. [2. Action Item: Appointments with Tenure (6); University of Colorado Anschutz Medical Campus] ANY DISCUSSION HERE? ALL RIGHT. SEEING NONE. IS THERE A MOTION? SO MOVED. ALL RIGHT. SO MOVED BY REGENT SECONDED BY SECOND DOVE IN THERE. SORRY [INAUDIBLE]. ALL IN POST. ALL IN FAVOR, PLEASE SAY AYE. AYE. OPPOSED? NONE. SEEING NONE, THE MOTION PASSES. THANK YOU. B3 ACTION ITEM. [3. Action Item: Appointment with Tenure (2); University of Colorado Colorado Springs] APPOINTMENT WITH TENURE AT THE UNIVERSITY OF COLORADO, COLORADO SPRINGS. ANY DISCUSSION ON THESE ITEMS? ALL RIGHT. IS THERE A MOTION IN A SECOND? SO MOVED. OKAY. OH, MY. I'M GOING TO GO WITH THE MOTION BY REGENT VANDRIEL AND I SAW REGENT CHAVEZ LIGHT UP FOR THE SECOND. ALL IN FAVOR, PLEASE SAY AYE. AYE. OPPOSED? SEEING NONE PASSES BEFORE ACTION ITEM APPOINTMENT WITH TENURE AT THE UNIVERSITY OF COLORADO IN BOULDER CAMPUS DISCUSSION. [4. Action Item: Appointment with Tenure (3); University of Colorado Boulder] ALL RIGHT. A MOTION AND A SECOND. SO MOVED. SECOND. I'M GOING TO GO WITH THE MOTION BY REGENT SMITH AND I THINK I SAW REGENT JAMES SECONDED. YES. GOTCHA. GREAT. ALL IN FAVOR, PLEASE SAY AYE. AYE. OPPOSED. SEEING NONE, THE MOTION PASSES. THANK YOU. B5 SABBATICALS AT THE UNIVERSITY OF COLORADO, BOULDER. [5. Action Item: Sabbaticals (9); University of Colorado Boulder] DISCUSSION. [INAUDIBLE]. MY INPUT. IS THERE A MOTION? SO MOVED. OKAY, GREAT. SECOND. ANYBODY? SECOND. SECOND. OKAY, I GOT A MOTION BY REGENT VANDRIEL. A SECOND BY REGENT CHAVEZ. ALL IN FAVOR, PLEASE SAY AYE. AYE. OPPOSED? SEEING NONE, THE MOTION PASSES. ACTION ITEM B6 RE-APPOINTMENT OF RICHARD MONFORT TO THE UNIVERSITY OF COLORADO HEALTH BOARD OF DIRECTORS. [6. Action Item: Reappointment of Richard L. Monfort to the University of Colorado Health Board of Directors] ANY DISCUSSION? ALL RIGHT. SEEING NONE. DO WE HAVE A MOTION? AND A SECOND. SO MOVED. MOVED BY REGENT. SECOND. OKAY. SECONDED BY REGENT. ALL IN FAVOR? AYE, AYE. ANY OPPOSED? SEEING NONE. THE MOTION PASSES. THANK YOU. INFORMATION ITEM, THE CU FISCAL ANALYSIS OF THE 2024 PROPERTY TAX BALLOT MEASURE. [7. Information Item: CU Fiscal Analysis of 2024 Property Tax Ballot Measures] THIS IS NOT AN ACTION ITEM, BUT ANYBODY HAVE ANY DISCUSSION THEY'D LIKE TO SHARE ON THIS TOPIC INFORMATION. SO I'D LIKE TO KICK IT OVER TO CHAD, AND HE CAN DO A QUICK OVERVIEW OF THE INITIATIVES THAT ARE CURRENTLY BEING CONSIDERED. THANK YOU CHAD. THANK YOU, MADAM CHAIR. SO I'M GOING TO SHARE MY SCREEN. SO WE PRESENTED THIS IN FINANCE COMMITTEE ON MONDAY AND A NUMBER OF YOU WERE THERE. SO I'M GOING TO GO THROUGH THIS. AND IF FOLKS HAVE QUESTIONS AS I'M GOING, FEEL FREE TO RAISE YOUR HAND AND AND POSE YOUR QUESTION. IF NOT, I'M JUST GOING TO CHUCK ON THROUGH THE ANALYSIS. SO THIS IS SOMETHING THAT WE DO WITH INTERNALLY WITH OUR RESOURCES IN TERMS OF LOOKING AT A TEN YEAR STATE REVENUE FORECAST AND EXPENDITURE, OUR TEN YEAR STATE REVENUE AND EXPENDITURE FORECAST, ONE OF THOSE COMPONENT PARTS IS LOOKING AT THE SCHOOL FINANCE ACT, AND WE ACTUALLY MODEL THAT SEPARATELY AND BUILD THAT INTO OUR FORECAST AND THE CU ANALYSIS THAT YOU'LL SEE IS WHAT'S COMING OUT OF OUR K-12 ANALYSIS. IN TERMS OF THE FOLKS THAT ARE THAT MAKE UP OUR FORECASTING TEAM, IT INCLUDES MYSELF DOCTOR KATE WATKINS, WHO'S A FORMER CHIEF ECONOMIST OF LEGISLATIVE COUNCIL STAFF, ALEXIS SINGER, WHO IS REALLY WELL REGARDED IN THE STATE IN TERMS OF HER BUDGET EXPERTISE, WHO'S FORMER JBC AND OSB, PHYLLIS RESNICK, WHO'S [00:05:08] ALSO A STATE ECONOMIST IN THE STATE THAT'S REALLY WELL RESPECTED. WE UTILIZE MOODY'S BASELINE, WHICH IS JUST A BACKBONE OF TERMS OF OUR FORECAST AND WHAT WE'VE BUILT IN IN THIS ANALYSIS IS CURRENT LAW, INCLUDING THE MAJOR CHANGES TO K-12 IN THE MOST RECENT SESSION, AND WE BUILD OFF OF OUR ANALYSIS FROM THAT POINT. SOMETHING THAT OUR ANALYSIS DOES NOT INCLUDE IS THE POTENTIAL IMPACTS TO LOCAL GOVERNMENT RELATIVE TO THESE BALLOT INITIATIVES. I WANT TO BE CLEAR THAT OUR Q DATA IS SPECIFIC TO THE IMPACT ON K-12. THERE'S SOME DETAIL HERE IN TERMS OF THE OTHER DATA POINTS THAT WE USE. THE OTHER THING THAT IS UNIQUE ABOUT OUR ANALYSIS IS WE'RE THE ONLY TEN YEAR FORECAST THAT WE'RE THE ONLY ONES THAT DO THIS IN THE STATE AND IT PROVIDES US A UNIQUE LENS IN LOOKING AT PUBLIC POLICY DECISIONS AND THEIR IMPACT ON THE STATE'S BUDGET OVER TIME. SO, I MENTIONED WE WERE TALKING ABOUT OUR K-12 ANALYSIS AND SO IT'S SOMETHING THAT'S KIND OF CORE TO THIS IS UNDERSTANDING HOW K 12 FINANCE WORKS. SO THE STATE ON AN ANNUAL BASIS SETS UP FUNDING LEVEL AND THAT'S SOMETHING CALLED TOTAL PROGRAM. THAT'S THE TOTAL AMOUNT OF REVENUE THAT WILL GO INTO COVERING K 12 EXPENSE FOR THE YEAR. THAT'S COVERED BY TWO SOURCES. THE FIRST OF THOSE TWO SOURCES IS THE LOCAL SHARE, WHICH IS THAT GRAY SEGMENT OF THE BAR THAT YOU SEE AND THEN AFTER LOCAL SHARE IS ACCOUNTED FOR AS A REVENUE, WHATEVER IS REMAINING, WHATEVER THE DELTA IS BETWEEN THE TOTAL SHARE AND LOCAL SHARE IS FILLED IN WITH STATE SHARE AND THAT STATE SHARE COMES FROM A COMBINATION OF SOURCES, PRIMARILY FROM THE GENERAL FUND, THE STATE EDUCATION FUND, AND THE STATE PUBLIC SCHOOL FUND. SO LOCAL SHARE AND PROPERTY TAX PLAYS A BIG ROLE IN COVERING K-12 EXPENSES. WHEN WE LOOK AT HOW PROPERTY TAX IS CALCULATED THIS IS THE FORMULA BY WHICH THAT'S DETERMINED. SO THE THE ACTUAL VALUE OF A PROPERTY IS TIMES BY AN ASSESSMENT RATE AND THAT GETS ONE IN ASSESSED VALUE. THAT ASSESSED VALUE IS THEN IMPACTED BY WHATEVER THAT LOCAL JURISDICTIONS MILL LEVY IS AND THAT RESULTS IN THE TAXES OWED AND SO THERE'S AN EXAMPLE OF HOW THAT FORMULA WORKS BELOW ON THE BOTTOM OF THIS SLIDE. THE PROPERTY TAX MEASURES THAT THE LEGISLATURE TOOK UP IN THE MOST RECENT SESSION, AS WELL AS THE BALLOT PROPOSAL, PROP PROP 108 IMPACT, THE ASSESSMENT RATE, THE GOLD LETTERS, THE PROPOSED BALLOT MEASURE NUMBER 50. THAT IMPACTS THE TAXES OWED ON THIS SCREEN AND SO IT'S A DIFFERENT COMPONENT PART, BUT IT'S ALL IT'S ULTIMATELY IMPACTING LOCAL SHARE. WHAT THIS ILLUSTRATES ARE THE DIFFERENCES OF THOSE. SO WHAT WE DID WITH OUR ANALYSIS WAS WE TOOK WHAT WAS CURRENT STATE BEFORE THE MOST RECENT LEGISLATIVE SESSION SAY WHAT DID LOCAL PROPERTY TAX LOOK LIKE AT THAT POINT IN TIME AND WE COMPARE THAT TO WHAT JUST PASSED. SO WHAT'S IN CURRENT LAW AND THEN WE LOOKED AT IT THROUGH FOR 108 AND WE ALSO LOOKED AT FOR 50 AND SO I'M GOING TO WALK THROUGH OUR ANALYSIS FOR EACH ONE OF THOSE AT THIS POINT. SO IF WE LOOK AT THE MOST RECENT LEGISLATION ON THIS FOR SENATE BILL 233 THERE WAS A DECREASE IN THE ASSESSMENT RATE OR THAT IMPACTS K-12 FINANCING, AND YOU ULTIMATELY SEE AN IMPACT AFTER WE MODEL A SPENDING DOWN OF THE STATE EDUCATION FUND. THERE'S ULTIMATELY A GENERAL FUND IMPACT IN TERMS OF AN ADDITIONAL GENERAL FUND EXPENSE, BECAUSE THAT LOCAL SHARE COMPONENT DECREASES IN THE STATE SHARE HAS TO BACKFILL THAT. WHAT WE'VE MODELED HERE OVER OUR TEN YEAR PERIOD, AND I'LL DIRECT YOUR ATTENTION TO THE TOP RIGHT HAND CORNER. IS THAT OVER A TEN YEAR PERIOD IN A BASELINE SCENARIO, JUST OVER A $2 BILLION IMPACT IN THE EVENT THAT THERE'S A RECESSION AND WE TRIED TO MODEL THAT WE THINK THAT IMPACT IS AROUND $3.9 BILLION AND THE THAT'S ILLUSTRATED WITH THE BLACK BAR THAT YOU SEE THERE BEING OUR BASELINE, AND THEN THE LIGHTER GRAY BAR THAT YOU SEE BEING A RECESSIONARY SCENARIO, YOU'LL SEE THAT SAME FORMAT IN THE SUBSEQUENT SLIDES AS WELL. IF WE LOOK AT THE PROPOSED BALLOT INITIATIVE NUMBER 50 YOU CAN SEE THAT THE TEN YEAR IMPACT THAT WE FORECASTED HERE ON THE GENERAL FUND IS ABOUT $2.1 BILLION AND IN THE EVENT OF A RECESSIONARY EVENT, WE HAVE THAT AROUND $3.9 BILLION AND I'LL POINT YOU, I DO WANT TO POINT OUT ON THIS SLIDE THAT YOU SEE IN THE LIGHTER BLUE BAR THAT KIND OF GETS MORE SIGNIFICANT AS YOU GO FURTHER OUT IN TIME. THAT'S BECAUSE AMENDMENT 50 KIND OF HAS THIS OR PARDON ME, INITIATIVE 50 WOULD HAVE THIS RATCHET EFFECT WHERE IF WE HAD A RECESSIONARY EVENT, YOU WOULD THEN BE LOCKED IN [00:10:04] AT A LOWER LEVEL THAT YOU COULD ONLY GROW FROM 4% FROM IN LOOKING AT 108. THIS IS A MATERIAL CHANGE IN THE ASSESSED VALUATION DROPPING DOWN TO 5.7% FROM ITS CURRENT AROUND 7% ASSESSMENT RATE LEVEL. SO THIS IS WHY YOU SEE SUCH A BIG INCREASE IN GENERAL FUND EXPENSE OR A BAR THAT'S SHOWING UP AS NEGATIVE. SO THAT'S AN ADDITIONAL EXPENSE TO THE STATE AND OVER OUR TEN YEAR PERIOD THAT'S ABOUT $8.9 BILLION AND IN THE EVENT THAT THERE WAS AN ECONOMIC DOWNTURN, WE'VE MODELED THAT AT ABOUT $10.4 BILLION. THERE'S ALSO A SCENARIO WHERE 50 AND 108 STACK WHERE THEY BOTH PASS AND IF THAT WAS TO OCCUR, THAT IMPACT WOULD JUST BE AMPLIFIED A LITTLE BIT AND SO THAT COMES OUT TO ABOUT $10.6 BILLION OR $12 BILLION OVER THE FORECAST PERIOD, DEPENDING ON THE BASELINE VERSUS THE RECESSIONARY SCENARIO. SO THIS IS OUR K-12 MODELING. SOMETHING ELSE THAT HAPPENS IN ADDITION TO OUR WORK IS JUST THE NATURAL ORDER OF LOOKING AT PROPOSED BALLOT MEASURES AND THAT'S SOMETHING THAT LEGISLATIVE COUNSEL DOES. SO SPECIFIC TO 108 LEGISLATIVE COUNCIL'S MOST RECENT ANALYSIS, WHICH IS THE BOTTOM PART OF THIS PAGE, SHOWS A DECREASE IN LOCAL TAX REVENUES OF AROUND $2.4 BILLION IN TAX YEAR 2025, AND WHAT THAT ULTIMATELY MEANS FOR THE STATE'S BUDGET FOR FISCAL YEAR 2526, WHICH IS NEXT BUDGET YEAR IS A PROJECTED IMPACT THAT RANGES BETWEEN $630 MILLION AND $1.7 BILLION. THE $630 MILLION FIGURE THAT YOU SEE THERE IS THE IMPACT IN TERMS OF A FOR K-12, AND THAT WOULD BE AS A RESULT OF A DECREASE IN LOCAL SHARE AND THEN THAT ONE, THE DELTA BETWEEN THE 630 MILLION AND THE 1.7 BILLION IS IN THE EVENT THAT THERE WAS LOCAL GOVERNMENT BACKFLIP. SO THEY'VE SAID THAT THERE'S A RANGE THERE. OVER THE SUMMER IN JUNE THE OFFICE OF STATE PLANNING AND BUDGETING, WHICH IS IN THE GOVERNOR'S OFFICE WAS TAKING THE INITIAL LEGISLATIVE COUNCIL ANALYSIS FROM JANUARY, AND THEY WERE MODELING OUT WHAT, WHERE AREAS IN THE BUDGET THAT THEY MIGHT HAVE TO TARGET REDUCTIONS. GRANTED, THE SIGNIFICANT PROJECTIONS OF DECREASED OR ADDITIONAL EXPENSES AND PRESSURE ON THE GENERAL FUND. ONE OF THE THINGS THAT THEY IDENTIFIED WAS REDUCING FUNDING TO HIGHER EDUCATION. SO WE TOOK THAT ANALYSIS AND WE OVERLAID IT WITH THE REVISED LEGISLATIVE COUNCIL SECOND DRAFT, WHICH IS THE DECREASE OF $630 MILLION TO $1.7 BILLION AND WHAT WE PROJECTED IS AROUND A REDUCTION TO HIGHER EDUCATION IN THE STATE THAT WOULD RANGE BETWEEN 160 MILLION AND $450 MILLION. IF WE ASSUME IF WE WERE TO ASSUME WHAT THOSE FIGURES ARE AND THINK ABOUT, WHAT WOULD IT MEAN FOR CU. CU SHARE OF THOSE REDUCTIONS WOULD RANGE BETWEEN A DECREASE IN FUNDING OF 43 MILLION AND $120 MILLION. IF WE WERE TO BACKFILL THAT DECREASE IN STATE FUNDING WITH JUST TUITION INCREASES, RESIDENT TUITION WOULD WOULD LIKELY HAVE TO INCREASE BETWEEN 7% AND 21%. OF COURSE REDUCTIONS OF THAT SIZE. WE WOULD RESPOND TO THAT THROUGH A COMBINATION OF BUDGET REDUCTIONS AND TUITION RATE CONSIDERATIONS. BUT ALL OF THIS WOULD PUT THINGS LIKE THE CU BOULDER TUITION GUARANTEE. THEY WOULD IMPACT THAT. WE WOULD HAVE TO EVALUATE IF WE COULD AFFORD TO DO THAT. ONE OF THE OTHER THINGS THAT I DIDN'T TOUCH ON A PRIOR SLIDE WAS POSSIBLE REDUCTIONS TO THE PROVIDER RATE AND THAT PROVIDER RATE IMPACTS THE REIMBURSEMENT THAT OUR CU DOCS AND PROVIDERS IN TERMS OF WHAT THEY GET REIMBURSED FOR SERVING MEDICAID PATIENTS. SO THAT WOULD ALSO HAVE A MATERIAL IMPACT ON THOSE FOLKS. SO THAT GIVES HOPEFULLY THE BOARD A SENSE OF WHAT THESE PROPOSED BALLOT MEASURES COULD MEAN RELATIVE TO THE STATE'S BUDGET AND WHAT THAT ULTIMATELY MEANS TO OUR BUDGET AND OUR STUDENTS AND FAMILIES AND I'M HAPPY TO TAKE QUESTIONS IF ANYBODY HAS ONE AND THEY'RE IN THERE, AND I'M HAPPY TO AND I'D LIKE TO PROVIDE SOME ADDITIONAL CONTEXT ALSO. MADAM CHAIR, WHEN FOLKS ARE READY FOR THAT. IF THERE YOU ARE ON MUTE. THANK YOU I THOUGHT I UNMUTED I APOLOGIZE, SO PLEASE, PRESIDENT SALIMAN, GO AHEAD. OKAY. THANK YOU VERY MUCH. [00:15:02] SO THESE ARE THE BALLOT MEASURES THAT ARE CURRENTLY IN PLAY OF COURSE AND SO WE WANTED TO PROVIDE YOU WITH OUR BEST ANALYSIS OF WHAT WE THINK THE IMPACT WOULD BE ON THE STATE AND ON CU. BUT THIS IS A VERY FLUID SITUATION AND THINGS ARE SHIFTING AROUND. I KNOW THAT REGENT SMITH HAS A PROPOSED RESOLUTION THAT SHE IS GOING TO DISCUSS WITH THE BOARD AND WE WILL GET TO THAT IN JUST A SECOND. I WANTED TO JUST NOTE THAT I'M GRATEFUL THAT THERE ARE NEGOTIATIONS GOING ON TO REACH A COMPROMISE THAT WOULD HELP PROTECT HIGHER EDUCATION AND OTHER STATE PRIORITIES. AND I'M HOPEFUL THAT THOSE NEGOTIATIONS WILL PRODUCE A GOOD OUTCOME AND IF THEY DO, I THINK THE PRODUCT OF THAT NEGOTIATION WOULD LIKELY BE THAT THESE BALLOT MEASURES WOULD BE WITHDRAWN. THAT BEING SAID IT'S STILL FLUID. I WOULD JUST ENCOURAGE THE LEGISLATURE TO GO AHEAD AND PROCEED WITH THE SPECIAL SESSION, IF THAT IS WHAT'S NEEDED TO IMPLEMENT AN AGREEMENT IF ONE IS REACHED. BUT THAT'S SOMETHING THAT, OF COURSE, THE LEGISLATURE WILL DECIDE FOR THEMSELVES AND THE AND THE LEGISLATIVE LEADERSHIP. BUT IT'S SOMETHING IT'S SO CRITICAL TO ME THAT THAT WE THAT THESE MEASURES NOT PASS IN ORDER TO ENSURE THAT HIGHER EDUCATION IS PROTECTED AND SO A COMPROMISE WOULD BE AN EXCELLENT OUTCOME, IN MY OPINION AND BUT WITH THAT WE DON'T KNOW WHAT'S GOING TO HAPPEN AND I AM HAPPY TO KICK IT BACK OVER TO YOU. REGENT RENNISON AND TO REGENT SMITH. ALRIGHT. GREAT. YEAH. WE'LL TURN IT RIGHT OVER TO REGENT SMITH FOR ITEM B8, A DISCUSSION ITEM RESOLUTION TO OPPOSE PROPERTY TAX BALLOT MEASURES. [8. Discussion Item: Resolution to Oppose Property Tax Ballot Measures] REGENT SMITH. THANK YOU. SO THE COLORADO TRUSTEE NETWORK HOSTED A PRESENTATION ON PROS AND CONS FOR THESE TWO BALLOT INITIATIVES. MICHAEL FIELDS BEING THE PRO AND SENATOR, CHRIS HANSEN BEING THE OPPONENT AND AFTER HEARING THE PRESENTATION AND THE POTENTIAL EFFECT ON HIGHER ED, I BECAME VERY ALARMED. AS FIDUCIARIES OF THE UNIVERSITY OF COLORADO, IT'S INCUMBENT UPON US TO FINANCIALLY PROTECT THE UNIVERSITY. I'M THANKFUL THAT CHAD AND TEAM STEPPED UP AND DID THIS TEN YEAR ANALYSIS AGAIN, HIGHLIGHTING THE FACT THAT WE ARE THE ONLY INSTITUTION THAT DOES THIS TEN YEAR ANALYSIS. SO I ASKED THE ADMINISTRATION TO PROVIDE ME WITH A RESOLUTION THAT WOULD OPPOSE THESE TWO INITIATIVES, WHICH I BROUGHT UP AT THE FINANCE MEETING ON MONDAY, AND I THANK MY COLLEAGUES THAT ARE ON THAT COMMITTEE FOR ENTERTAINING THAT AT THAT TIME, I SAID, BECAUSE WE LEARNED JUST THAT MORNING THAT POTENTIALLY THERE WOULD BE A SPECIAL SESSION WITH A COMPROMISE AND THEN A WITHDRAWAL OF THE TWO INITIATIVES, WHICH HAS TO HAPPEN BEFORE SEPTEMBER 6TH. SO AT THIS POINT, I WOULD LIKE YOU TO ENTERTAIN NOT VOTING ON THIS, AND LET'S SEE HOW THIS ALL PLAYS OUT. I'M HOPEFUL IN THE NEXT FEW DAYS THAT A SPECIAL SESSION WILL BE CALLED AND THERE WILL BE A COMPROMISE. BUT AT THIS POINT, I DO NOT WANT TO MOVE MY RESOLUTION FORWARD AND FOR THE BOARD TO VOTE ON IT. THANK YOU. ANY ADDITIONAL DISCUSSION? I JUST A QUICK QUESTION THAT MAYBE HEATHER CAN ANSWER. WHAT IS THE MOST LIKELY TIMING SCENARIO THAT WE WOULD SEE IF THEY WENT TO SPECIAL SESSION OR IF THERE WAS A COMPROMISE MADE BEFORE SPECIAL SESSION? WHAT CAN WE EXPECT? THAT'S A GREAT QUESTION. SO THE DEADLINE TO REMOVE THOSE BALLOT MEASURES FROM THE BALLOT IS THE BEGINNING OF SEPTEMBER. AND SO IF THEY DID CALL A SPECIAL SESSION, WE WOULD LIKELY SEE IT IN THE NEXT COUPLE OF WEEKS, LIKELY BEFORE THE END OF AUGUST. OKAY. SO SEPTEMBER 6TH, IS THAT DROP DEAD DATE CORRECT. THANK YOU. THE ADDITIONAL DISCUSSION. THANK YOU. THANK YOU, REGENT SMITH, FOR YOUR WORK ON THIS AND TO THE SYSTEM OFFICE. WHO HELPED YOU. SO WE'LL MOVE ON TO THE LAST ITEM OF OUR AGENDA. [9. Discussion Item: June 2025 Board Meeting Location] B9 IS THE DISCUSSION ITEM, THE JUNE 2025 BOARD MEETING LOCATION. [00:20:02] IF YOU GUYS REMEMBER, LAST YEAR, REGENT MCNULTY MADE A SUGGESTION THAT WE HOLD ONE OF OUR BOARD MEETINGS SOMEWHERE OTHER THAN THE FOUR CAMPUSES, KIND OF COMBINING IT WITH OUTREACH. A LOT OF ADVANTAGES OF DOING THAT. BUT THERE ARE ALSO SOME DISADVANTAGES OF DOING IT. SO I HAD ASKED LEONARD AND TEAM TO PULL TOGETHER KIND OF A COST COMPARISON BETWEEN THE COST OF HAVING OUR LAST MEETING IN PUEBLO VERSUS HAD IT BEEN ON THE BOULDER CAMPUS, WHICH IS WHAT IT WAS ORIGINALLY PLANNED TO BE, THOSE NUMBERS WERE SENT OUT TO EACH OF THE REGENTS. SO THIS IS JUST TIME FOR US TO DISCUSS PUBLICLY THOUGHTS ABOUT THAT. WE'RE NOT VOTING ON IT TODAY, BUT KIND OF JUST A HIGH LEVEL DISCUSSION ABOUT IF WE WANT TO MOVE FORWARD WITH DOING THAT AGAIN. ELIZABETH AND COMPANY KIND OF NEED TO KNOW SOONER THAN POSSIBLE SO THAT THEY CAN GET PLANNING FOR OUR 2025 MEETING. SO I'LL JUST OPEN IT UP FOR ANY DISCUSSION. I'VE GOT A QUESTION. MADAM CHAIR I APPRECIATE THE FINANCIAL ANALYSIS WE DID. IT DOES APPEAR THAT IT'S MORE EXPENSIVE FOR US TO DO SOMETHING OFF SITE. WHAT I'M CURIOUS ABOUT IS WHAT DOES IT DO FOR OUR STAFF? HOW MUCH MORE DIFFICULT IS IT OR MUCH MORE TIME CONSUMING? IS IT FOR YOU TO PUT ON SOMETHING OFF CAMPUS VERSUS ON CAMPUS? YES, I'LL TAKE THAT ONE. SO IT'S ACTUALLY I HAVE TO SAY IT'S A CHALLENGE AT EVERY BOARD MEETING BECAUSE WE'RE CONSTANTLY MOVING AROUND AND WE'RE NOT NECESSARILY IN THE SAME ROOM, EVEN ON A CAMPUS THAT WE WERE THE PREVIOUS YEAR. SO YOU KNOW, TAKING OUR SHOW ON THE ROAD IS ALWAYS A BIT OF A CHALLENGE. THAT BEING SAID, YOU KNOW, WITH THE CAMPUSES, WE'RE USED TO WHO WE'RE WORKING WITH ON THE CAMPUSES IN TERMS OF THE ROOM SETUP, THE AV FOLKS, YOU KNOW, THE CAMPUS STAFFS ARE AMAZING AND HELPING US GET EVERYTHING DONE WHEN WE GO TO AN OFF SITE VENUE, WHETHER IT'S FOR A RETREAT OR AS WE DID WITH THE PUEBLO BOARD MEETING AT THE PUEBLO CONVENTION CENTER. WE ARE, OF COURSE, AS FAMILIAR WITH THOSE FOLKS. SO THAT IS, OF COURSE, AN ADDED CHALLENGE. THAT BEING SAID, PUEBLO CONVENTION CENTER, I THINK DID AN AMAZING JOB. THEY WERE WONDERFUL TO WORK WITH. I HAVE NOTHING BUT REALLY WONDERFUL THINGS TO SAY ABOUT THEM AND HOW THEY WERE ABLE TO HELP ACCOMMODATE US. SO YOU KNOW, IT IS AN ADDED CHALLENGE. I DON'T THINK IT'S ANYTHING THAT'S INSURMOUNTABLE. WE ARE ABLE TO DO IT AND WORK WITH IT. WE ALSO DO USE OUR OWN AV COMPANY THAT WE CONTRACT WITH, WHICH IS THIRD HARMONIC. THEY ARE WITH US AT EVERY SINGLE BOARD MEETING, INCLUDING ON CAMPUSES, INCLUDING AT ANY MEETINGS THAT WOULD BE OFF SITE. SO NOT AT RETREATS BECAUSE WE AREN'T LIVE STREAMING THOSE, BUT ANY TIME WE DO HAVE A BOARD MEETING, WE DO HAVE THAT CONSISTENT SUPPORT ALSO FROM THIRD HARMONIC AND [INAUDIBLE] AND I HAVE SPOKEN WITH SHE AND HER TEAM ABOUT THIS. AT THE END OF THE DAY, WHATEVER THE BOARD DECIDES TO DO, YOU KNOW, WE WILL MAKE IT WORK AS SHE SAID. THANK YOU. SO THE LITTLE EXCEL SHEET THAT WAS SHARED WITH EVERYBODY FOCUSES ON THE FINANCES AND IT'S A BIT MORE EXPENSIVE, DEFINITELY TO DO IT OFF SITE. BUT I THINK THERE ARE OTHER THINGS IN REGENT ONTARIO. QUESTION. TAPPED INTO IT, RIGHT? IT'S NOT JUST ABOUT MONEY, BUT I WOULD BE CURIOUS FROM THE REGENTS WHO WERE UNABLE TO MAKE IT TO THE LAST MEETING. IT FELT LIKE AS HARD AS EVERYBODY TRIED IT AT LEAST APPEARED TO ME LIKE IT WAS MORE DIFFICULT FOR YOU TO FEEL FULLY ENGAGED. DID ANY OF THE REGENTS WHO ZOOMED IN? DO YOU HAVE ANYTHING TO ADD OR THOUGHTS OR JUST CURIOUS? WELL I'LL GO. I DIDN'T ATTEND THE MEETING IN PUEBLO, AND THE EXECUTIVE SESSION WAS REALLY DIFFICULT TO HEAR. THE MEETING ITSELF WAS GOOD, BUT THE EXECUTIVE SESSION AND THE THINGS THAT WERE GOING ON THERE JUST IMPOSSIBLE. SO I THINK WHETHER WE TRAVEL OR NOT, WE ALWAYS NEED TO MAKE SURE THAT WE HAVE AV THAT WORKS FOR EVERYBODY. IT WAS A VERY DIFFICULT ROOM. YES. REGENT ANDREW. I WAS JUST GOING TO SAY I ONLY MISSED PART OF THE MEETING, BUT YEAH, IT WAS HORRIBLE MISSING THAT LIKE, ONE OUT OF EVERY THREE WORDS CAME THROUGH, WHICH IS JUST ENOUGH THAT YOU CAN ALMOST PRETEND YOU HEAR AND ENOUGH THAT YOU THINK IT MIGHT GET BETTER SO YOU DON'T GIVE UP. IT WAS NOT FUN. THAT SAID I MEAN, I DON'T THINK THAT MY STRONG DESIRE IS TO CONTINUE THIS TYPE OF MEETING BECAUSE. SORRY ABOUT THAT. BECAUSE I JUST I THINK THAT IT HELPS US BE PRESENT TO THE STATE AND I AGREE [00:25:02] THAT, LIKE, THERE IS A CLEAR LESSON LEARNED FROM THERE ON THE AUDIO. FOR SOME OF IT WAS HARD TO BE ENGAGED. BUT I DON'T THINK THE LOCATION MADE THAT ANY PARTICULARLY DIFFERENT. IT WAS LIKE THE LOCATION NOT BEING ON CAMPUS. IT WAS JUST AIR IN THE ROOM SETUP. THANK YOU. YEAH. I MEAN, THE ROOM WE WERE IN, HONESTLY, YOU HEARD US. MAYBE YOU COULDN'T HEAR US SAY IT WAS DIFFICULT FOR US TO HEAR EACH OTHER WHEN WE WERE ALL IN THE SAME ROOM. IT WAS A DIFFICULT ROOM. REGENT SMITH. GREAT, THANK YOU AND I JUST HAVE THE SAME COMMENTS. AS FAR AS THE EXACT SESSION, I FELT FULLY ENGAGED WHEN I WAS WHEN IT WAS THE OPEN MEETING. THE ONE THING THAT YOU KNOW, BEING CHAIR OF UNIVERSITY AFFAIRS AND WE HAD QUITE A FEW SOMEWHAT, MAYBE CONTROVERSIAL TOPICS TO COVER AND SO I HAD TO PUNT THAT OVER TO THE VICE CHAIR BECAUSE I, YOU KNOW, DEFINITELY THE PERSON NEEDED TO BE IN THE ROOM TO READ REGENTS IF THEY WANTED TO TALK OR SO FORTH. SO BUT THAT WORKED OUT FINE AND AGAIN, I'M THANKFUL TO KEN MONTEIRO FOR DOING THAT, BUT THAT'S ONLY AN EXTRA COMMENT ABOUT DOING IT REMOTELY. THANK YOU. REGENT MCNULTY. THANK YOU, MADAM CHAIR. YEAH. MY POSITION HASN'T CHANGED. I THINK THAT IT IS IMPORTANT FOR US TO RECOGNIZE THE NEED TO HOLD MEETINGS OUTSIDE OF OUR FOUR CAMPUSES AND IF WE THINK THE COST IS THE MOST IMPORTANT DRIVER, THEN WE HAVE THEM AT THE SYSTEM OFFICE DOWNTOWN. ALL OF THEM. IF WE THINK THAT EASE ON STAFF IS THE DRIVING FACTOR, THEN WE HAVE THEM AT THE SYSTEM OFFICE, ALL OF THEM DOWNTOWN. IF WE THINK THAT RECOGNIZING THE VALUE OF HAVING THESE MEETINGS THROUGHOUT THE STATE OF COLORADO IS IMPORTANT, THEN WE THEN WE CONTINUE TO DO WHAT WE DID IN PUEBLO, AND I'LL SAY THIS, REGARDLESS OF WHERE YOU REGARDLESS OF WHERE WE HOST A MEETING IT'S GOING TO BE A CHALLENGE FOR ONE OF US. MOST OFTEN IT'S GOING TO BE A CHALLENGE FOR GLENN OR WHOEVER REPRESENTS THE THIRD CONGRESSIONAL DISTRICT NEXT, BECAUSE, THE CONTINENTAL DIVIDE GETS IN THE WAY. BUT WHETHER I HAVE TO GO UP TO BOULDER OR WHETHER YOU AND LESLEY HAVE TO COME DOWN TO COLORADO SPRINGS OR DOWN TO PUEBLO YOU KNOW, THESE ARE THE SAME DRIVE, THE SAME PLACE AND SO I DO THINK THAT THERE WERE LESSONS LEARNED FROM OUR TRIP DOWN TO PUEBLO. I THINK THAT I AGREE WITH MARK AND GLENN THAT THOSE ARE THINGS THAT CAN BE OVERCOME AND I FULLY ENCOURAGE US TO CONTINUE THE PRACTICE OF HAVING ONE OF OUR MEETINGS OUTSIDE OF OUR CAMPUSES EVERY YEAR. THANK YOU VERY MUCH. REGENT SPIEGEL. GREAT. THANKS, CHAIR RENNISON AND YOU KNOW, I TOO, SINCE WE STARTED THE OUTREACH WORK SINCE I GOT ON THE BOARD, YOU KNOW, QUESTIONED WHY WE DIDN'T DO ONE MEETING OFF SITE AND I'M EXTREMELY GRATEFUL FOR ALL THE WORK THAT WENT INTO PLANNING IT. YOU KNOW, A COUPLE OF THOUGHTS YOU KNOW, ABOUT THIS IS ONE OF THE OTHER THINGS THAT WE HAVE DONE IS, YOU KNOW, WE'VE STARTED MAKING SURE THAT OUR WINTER RETREAT IT TAKES INTO CONSIDERATION SOME OF THESE OUTREACH CONSIDERATIONS AND WHERE WE'RE GOING AND HOW WE'RE ENGAGING. WHEN WE DO THOSE AS WELL. SO I THINK WE'RE STARTING TO REALIZE HOW IMPORTANT IT IS TO REGENT MCNULTY'S POINT THAT, YOU KNOW, WE GET OUT AND ARE SEEN AND HEARD AND ENGAGING WITH THE COMMUNITY AND THE STATE THAT WE SERVE. SO, YOU KNOW, I THINK THAT SOMETHING ELSE TO TAKE INTO CONSIDERATION. I WOULD ALSO ANOTHER FACTOR IN THIS FOR ME IS THAT IT'S CHALLENGING. FOR ME PERSONALLY AS A REGENT TO HAVE REGENT MEETINGS, ESPECIALLY ONES THAT ARE OFF SITE OR RETREATS THAT ARE BACK TO BACK WITH OUTREACH TRIPS AND I THINK IF PART OF OUR GOAL IN DOING THIS, LIKE I WOULD SUPPORT CONTINUING TO DO IT OFF SITE IF IT'S NOT HAPPENING BACK TO BACK. WITH AN OUTREACH TRIP THAT I THINK JUST SOME SCHEDULING COORDINATION AROUND THAT IS IMPORTANT AND I THINK WE FOUND, YOU KNOW, WITH THE RETREAT THAT THERE ARE WAYS OF DOING THESE THINGS OFF SITE THAT ACTUALLY AREN'T NECESSARILY AS AS EXPENSIVE. I RECOGNIZE THERE ARE A LOT OF OTHER FACTORS INVOLVED IN A FULL PUBLIC BOARD MEETING. BUT I THINK ANOTHER FACTOR HAS TO BE NOT SCHEDULING OUTREACH TRIPS BACK TO BACK WITH THEM. [00:30:03] THANK YOU VERY MUCH, REGENT MONTERA. YEAH. JUST A QUICK BIT OF UPDATE. BEING BORN AND RAISED IN PUEBLO, THERE WAS A LOT OF PEOPLE AT THE RECEPTION THAT I KNEW AND KNOWN FOR A LONG TIME, AND HAD RECEIVED UNSOLICITED FEEDBACK THAT THEY BELIEVE THAT, CU REALLY CARED WHEN WE CAME TO PUEBLO THAT WE ACTUALLY TOOK THE TIME TO COME TO THAT COMMUNITY AND BE PRESENT IN THAT COMMUNITY. SO THAT WAS SOME REALLY POSITIVE FEEDBACK FROM SOME OF THE PEOPLE THAT I SPOKE TO. AS A MATTER OF FACT, I WAS IN AN EVENT LAST NIGHT AND THERE WAS AN INDIVIDUAL AT THAT EVENT FROM PUEBLO AND SHE SAID YOU'D BE SURPRISED HOW MUCH THAT MEETING GOT AROUND THE COMMUNITY, THAT WE TOOK THE TIME TO SPEND TIME IN SOUTHERN COLORADO AND LET THEM KNOW THAT WE REALLY WANT TO HAVE THEM PART OF OUR UNIVERSITY SYSTEM. SO FOR WHATEVER THAT'S WORTH, I THERE WAS SOME REALLY POSITIVE FEEDBACK FROM PEOPLE I KNEW FROM PUEBLO. GREAT. THANK YOU, REGENT VANDRIEL. THANK YOU, MADAM CHAIR. THIS REMARK VERY CLOSELY ECHOES KEN'S. BUT I'D WANTED TO SAY, AT LEAST ON MY OWN BEHALF. I'M JUST VERY GRATEFUL TO THE PEOPLE THAT WE MET IN PUEBLO AND THE HOSPITALITY WE RECEIVED THERE. GREAT. ALL RIGHT, ANY, CAN I FOLLOW UP ONE MORE TIME HERE? I'M NOT I THINK THAT MY YEARS ON THE BOARD, WE'VE ALWAYS TRIED TO MAKE THE ENTIRE STATE ACCESSIBLE AND CU LEX THE REGENTS BY CONGRESSIONAL DISTRICT AND IN OUR CHARTER IT TALKS ABOUT IT BEING A UNIVERSITY FOR THE STATE AND I THINK IT'S IMPORTANT THAT WE DID A MEETING IN PUEBLO A FEW YEARS AGO. WE DID ONE IN GRAND JUNCTION. I THINK IF THAT THE BOARD WANTS TO CONTINUE TO DO THAT. BUT I WANT TO POINT OUT THAT WE'RE DOING A LOT OF THINGS STATEWIDE, NOT ONLY OUR OUTREACH TRIPS THAT WE'RE DOING AND WE'RE GETTING TO PUEBLO A LOT. WE'RE GETTING TO GRAND JUNCTION, WE'RE GETTING TO SOUTHERN COLORADO. WE HAVE DEGREE PROGRAMS IN WESTERN STATE AND AT MESA, AT FORT LEWIS. WE ARE DOING TREMENDOUS NUMBER OF THINGS WITH OUR MENTAL HEALTH, OUR HOSPITAL THE NUMBER OF VISITS FROM PEOPLE AND THE NUMBER OF FOLKS FROM ANSCHUTZ THAT ARE TRAVELING SOME DIFFERENT PLACES. SO HAVING A MEETING AT A DIFFERENT LOCATION OFF SITE IS GREAT. BUT THE ROLE OF A REGENT ALSO IS TO BE INVOLVED IN YOUR DISTRICT AND YOUR COMMUNITY, AND THAT SOMETIMES THAT MEANS BRINGING A MEETING THERE YOURSELF. SO DON'T THINK FOR A MINUTE THAT SEE YOU IS NOT DOING A LOT. WE'RE DOING A TREMENDOUS AMOUNT AND IT FEELS GOOD ALL OVER THE PLACE, AND WE NEED TO CONTINUE TO DO IT. THE MEETING WAS A GOOD IDEA AND THIS BOARD WILL DECIDE WHETHER THEY WANT TO CONTINUE THAT. BUT THE BIGGER PICTURE IS HOW MUCH WE'RE GETTING AROUND THE STATE AND TODD, YOU'RE DOING A GREAT JOB WITH THAT. OH GREAT I AGREE. THANK YOU. ANY ADDITIONAL COMMENTS OR DISCUSSION? OKAY. AWESOME. MADAM CHAIR, WHEN DO WE DECIDE WHETHER WE'RE GOING TO CONTINUE TO DO THIS? AND AND IF SO, WHEN OUR NEXT OR WHERE WE'LL GO FOR OUR NEXT OFF CAMPUS MEETING. THIS IS A I MEAN, THIS ISN'T A VOTE TODAY. I'M GOING TO ALSO ASK REGENT MONTEIRO TO STEP IN AS VICE CHAIR. WHAT I'M HEARING IS PRIMARILY PEOPLE LIKE THE IDEA OF GOING OFF SITE. SO IF THAT BEING THE CASE, THEN I THINK THAT'S WHAT WE'LL DO. AND WE JUST NEED TO LET ELIZABETH AND AMANDA AND AMBER AND EFFIE KNOW THAT SO THEY CAN START PLANNING RIGHT AWAY. SO THEY'LL PROBABLY BE SOME COMMUNICATION ABOUT WHERE THE NEXT ONE WOULD BE, THE DATE IT WOULD BE, ETC. BUT I MEAN, UNLESS REGENT MONTARA, DID YOU HEAR SOMETHING DIFFERENT IN THIS DISCUSSION? NO, I THINK THAT SOUNDS GREAT. THE ONLY THING I WOULD ADD IS MAYBE WE WOULD GET TONY'S GROUP INVOLVED TO REALLY UNDERSTAND WHERE WE CAN PARLAY OUTREACH TRIPS AND MAKE SURE WE'RE TAKING ADVANTAGE OF THAT. RIGHT. YEAH [INAUDIBLE] WANT TO JUMP IN. WE ALSO TALKED TO OR TALKING TO DANIELLE ABOUT TONY AND HIS TEAM AND KIND OF IDENTIFYING SOME STRATEGIC OPTIONS FOR THE BOARD TO CONSIDER. SO THAT'S GOING TO PLAY A ROLE. BUT IT'S FOR TWO DATES. IT'S FOR THE WINTER RETREAT. WE'RE IN FORT COLLINS EARLIER, AND IT'S ALSO FOR A MEETING IN OFF CAMPUS AND OR AT A DIFFERENT LOCATION IN JUNE. SO THERE'S TWO OPPORTUNITIES THERE. SO KEN AND I WILL BE IN DISCUSSION WITH LEONARD AND THE OTHERS IN THE SYSTEM OFFICE AND KEEP YOU GUYS INFORMED AS TO WHAT'S HAPPENING, DATE, LOCATION, ETC. BUT AS ALWAYS, FEEL FREE TO SHARE WHAT YOUR THOUGHTS ARE. THANK YOU. GREAT. [00:35:02] SO SEEING NO FURTHER BUSINESS, I THINK WE'RE GOING TO ADJOURN THIS MEETING AND GET ON WITH OUR DAY. THANK YOU EVERYBODY. IT'S GOOD TO SEE YOU. BYE, TEAM THANK YOU. THANKS, EVERYBODY. * This transcript was compiled from uncorrected Closed Captioning.