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[B. 11:00 a.m. WEDNESDAY, APRIL 29, 2020 - CALL TO ORDER/PUBLIC MEETING - Chair Glen Gallegos presiding]
REGENT SHOEMAKER, WILL YOU LEAD US IN THE PLEDGE OF ALLEGIANCE, PLEASE? ALL RIGHT.YES, SORRY. I DIDN'T KNOW YOU WERE GOING TO CALL ME AND I HAD MYSELF ON MUTE.
THAT'S A NICE FLAG, BY THE WAY, I LIKE TO WELCOME EVERYONE THAT IS ON ZOOM AND INCLUDING PEOPLE THAT ARE STREAMING LIVE TO THE START OF OUR PUBLIC MEETING.
BECAUSE OF TIME, I'M GOING TO ACKNOWLEDGE SOME PEOPLE.
AND THE FIRST ONES THAT I WOULD ACKNOWLEDGE IS JOE MADISON OF FACULTY COUNCIL CHAIR, RYAN [INAUDIBLE], STAFF COUNCIL CHAIR AND ANNA GORDON [INAUDIBLE], WHO'S THE STUDENT CHAIR.
AND THEN ALSO I'D LIKE TO ACKNOWLEDGE WE HAVE A LOT OF REGENT CANDIDATES IN ATTENDANCE.
REALLY APPRECIATE THE INTEREST AND OPPORTUNITY FOR YOU GUYS TO BE HERE.
I HAVE MENTIONED THAT WE DON'T HAVE TIME IN THIS SESSION FOR YOU TO SPEAK, BUT AT OUR MAY 19TH MEETING.
WE'LL GIVE YOU UP TO TWO MINUTES TO INTRODUCE YOURSELF AND TO DO YOUR STUMP SPEECH.
SO WE HOPE TO SEE YOU AGAIN ON THE 19TH.
BUT AGAIN, THANKS TO THE FOLLOWING PEOPLE FOR BEING IN ATTENDANCE, IN ATTENDANCE ON ZOOM, DAVID GROSS, REGION CANDIDATE FOR DISTRICT TWO, AARON HARBER DISTRICT TWO.
RICHARD MURRAY, CANDIDATE FOR DISTRICT SIX.
PRISCILLA [INAUDIBLE], CANDIDATE FOR DISTRICT SIX.
KELLY RENNISON, CANDIDATE FOR DISTRICT TWO, ALANNA SPIGEL REGION CANDIDATE FOR DISTRICT SIX. AND NORBERT CHAVEZ, CANDIDATE FOR DISTRICT SEVEN.
I'D LIKE TO MOVE TO THE FIRST AGENDA ITEM.
AND THAT'S AN UPDATE FROM PRESIDENT KENNEDY REGARDING THE UNIVERSITY'S RESPONSE TO COVID 19. PRESIDENT KENNEDY? WELL, CHAIRMAN REGENTS, WE VERY MUCH APPRECIATE THE OPPORTUNITY TO GIVE YOU A FURTHER UPDATE. A LOT GOING ON IN US, STAYING CLOSER TOGETHER IN TERMS OF THE REGENTS UNDERSTANDING WHAT WE'RE DOING AND US GETTING YOUR INPUT IS VERY IMPORTANT TO US.
SO THANK YOU FOR AGREEING TO HAVE THIS MEETING.
I WANT TO BEGIN BY THANKING THE FACULTY AND THE STAFF THAT HAVE DONE PHENOMENAL WORK, EXPENDED EXTRA EFFORT TO MAKE SURE THAT OUR STUDENTS GOT THEIR CREDIT HOURS, THAT THEY WERE ABLE TO ADVANCE THEIR EDUCATION THIS SEMESTER.
AND THEY HAVE REALLY DESERVED OUR APPRECIATION.
I HAVE TO GIVE A SPECIAL CALL OUT TO THOSE AT ANSCHUTZ CLINICAL FACULTY THAT HAS BEEN HELPING DURING THIS TIME EVERY NIGHT AT 8:00 WHEN WE HEAR THE CHEERING FOR THEM.
WE JOIN WITH THAT CHEERING AND NOT ONLY DOING GREAT WORK IN TERMS OF DELIVERING CARE AT THIS VERY CHALLENGING TIME, BUT ALSO WORKING ON DISCOVERIES IN TESTING AND THERAPEUTICS THAT WILL HELP US COME OUT OF THIS.
I WOULD SAY APPRECIATE THE FACULTY COUNCIL AGREEING TO WORK WITH US THROUGH THE SUMMER AND SOME OF THE KEY INITIATIVES WE'RE HAVING BECAUSE WE'RE BOTH FOCUSED ON HOW DO WE ADJUST AND ADAPT TO THE HIT THAT WE'RE TAKING FROM COVID 19, AS WELL AS HOW DO WE MAKE SURE THAT WE COME THROUGH THIS AS BIG OF A BENEFIT TO OUR STUDENTS AND THE STATE AS WE HAVE BEEN IN THE PAST.
SO YOU'RE HEARING FROM EACH CAMPUS IS THAT THE WORK THEY'RE DOING TO FIGURE OUT WHAT CAN WE DO TO COME BACK AND FALL? HOW CAN WE STAND UP OUR RESEARCH ENTERPRISE? AND AGAIN, A LOT OF CAREFUL PLANNING, A LOT OF UNKNOWNS NOW, BUT WE LOOK FORWARD TO STAYING CLOSE, IN TOUCH WITH THE REGENTS AS WE WORK THROUGH THESE DIFFICULT ISSUES AND HOPEFULLY COME BACK AS CLOSE AS WE CAN TO AN ON CAMPUS EXPERIENCE IN THE FALL.
THANK YOU FOR YOUR TIME. I'LL DEFER TO THE OTHER PRESENTATIONS THAT WE'RE RECEIVING TODAY. THANK YOU, PRESIDENT KENNEDY.
SECOND ITEM IS AN UPDATE FROM VICE PRESIDENT SALIMAN REGARDING TUITION AND COMPENSATION PROPOSALS. THANK YOU VERY MUCH.
I'M ACTUALLY GOING TO JUST DO A IF IT'S OKAY, MR. CHAIRMAN. IT'LL BE A STATE AND CU BUDGET UPDATE, WHICH WILL INCLUDE WHICH WILL HELP FRAME
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THIS ISSUE FOR ALL OF US IN THE FUTURE.AND I AM GOING TO SHARE MY SCREEN.
AND IF FOLKS HAVE QUESTIONS DURING THIS PRESENTATION, PLEASE DON'T HESITATE TO INTERRUPT.
SO WE JUST WANTED TO GIVE YOU A QUICK UPDATE ON WHERE WE ARE IN TERMS OF THE STATE BUDGETING PROCESS AND AND AND THE TIMELINE THAT THE JBC HAS IS ADHERING TO.
SO. SO THE JBC WILL BE COMING BACK TOGETHER AND ON MAY 4TH TO BEGIN THEIR BUDGET BALANCING CONVERSATIONS IN PUBLIC.
THEY THEY ACTUALLY POSTED A LOT OF INFORMATION ON THEIR WEB SITE ON APRIL 27, JUST TWO DAYS AGO. AND SO WE ARE GOING THROUGH ALL OF THAT TO DETERMINE WHAT THE POSSIBLE IMPACTS WOULD BE TO HIGHER EDUCATION.
THEY HOPE TO HAVE THE LONG BILL DONE BY THE END OF MAY, AND SO BEFORE TOO LONG, WE'LL KNOW EXACTLY WHERE WE STAND IN TERMS OF THE STATE BUDGET.
THE BIG CHALLENGE FOR THE FOR THE LEGISLATURE RIGHT NOW IS FEDERAL RELIEF DOLLARS AND AND WHETHER OR NOT THOSE DOLLARS WILL ULTIMATELY BE FLEXIBLE.
COLORADO IS GOING TO BE RECEIVING OVER THE STATE OF COLORADO WILL BE RECEIVING OVER ONE POINT FIVE BILLION DOLLARS IN FEDERAL RELIEF FUNDS.
THE QUESTION IS, CAN THOSE FUNDS BE USED TO MITIGATE THE BUDGET CUTS TO THE VARIOUS PARTS OF THE STATE BUDGET FOR HIGHER EDUCATION, K-12, THINGS LIKE THAT? SO I MENTIONED THAT THE JBC STAFF POSTED RECOMMENDATIONS ON THE TWENTY SEVENTH A COUPLE DAYS AGO. THESE ARE A FEW OF THE THINGS THAT THEY HAD THAT ARE INCLUDED IN THEIR INITIAL RECOMMENDATIONS, OF COURSE.
ALL OF THESE THINGS HAVE TO BE CONSIDERED BY THE JBC AND APPROVED BY THE JBC.
BUT THE JBC IS GOING TO BE FACING SOME DIFFICULT DECISIONS.
AND THESE ARE THE ONES THAT WE WERE ABLE TO QUICKLY IDENTIFY THAT WOULD IMPACT HIGHER ED RIGHT OUT OF THE GATE WOULD BE THE ELIMINATION OF THE SEVEN PERCENT INCREASE.
THAT'S WHAT THEIR STAFF IS RECOMMENDING.
AND THAT WAS AN INCREASE THAT WAS APPROVED BY THE JBC ABOUT A MONTH OR TWO AGO.
AND THEY'RE THE JBC STAFF ALSO EXPRESSED CONCERN ABOUT IMPLEMENTING ANY FUNDING CHANGES IN HIGHER EDUCATION PROPORTIONALLY ACROSS THE BOARD OF ALL INSTITUTIONS.
THAT PROPORTIONAL APPROACH IS ACTUALLY PUT BEFORE IT BY.
THE PROPORTIONAL APPROACH WAS ACTUALLY RECOMMENDED BY ALL THE CEOS AND THE CFOS IN THE STATE FOR HIGHER ED.
BUT THE JBC STAFF MIGHT END UP TAKING A DIFFERENT APPROACH.
SO WE'LL SEE WHERE THAT ENDS UP.
THE GOOD NEWS IS THAT THE NEW FUNDING FORMULA BILL THAT WE ALL WORKED ON OVER THE LAST FEW MONTHS IS GOING THE JBC STAFF IS RECOMMENDING THAT CONTINUE TO MOVE FORWARD.
AND WE'VE GOTTEN GOOD FEEDBACK FROM JBC MEMBERS THAT THEY INTEND TO TRY TO CONTINUE TO HAVE THAT BILL MOVE FORWARD.
THE EFFECTIVE DATE OF THAT, THOUGH, WOULD BE CHANGED TO FY 21, 22, BUT IT WOULD BE IN LAW. SO WE WOULD KNOW EXACTLY WHAT THE LAY OF THE LAND IS AS WE MOVE FORWARD.
UNFORTUNATELY, JBC STAFF IS RECOMMENDED RECOMMENDING THE ELIMINATION OF ESSENTIALLY ALL CAPITAL CONSTRUCTION FUNDING FOR FY TWENTY TWENTY ONE, WHICH WOULD INCLUDE THE ELIMINATION OF FUNDING FOR THE THIRD AND FINAL PHASE OF THE CU ANSCHUTZ PERSONALIZED MEDICINE BUILDING. IT WOULD ALSO THEY ARE ALSO RECOMMENDING THE ELIMINATION OF CONTROLLED MAINTENANCE FUNDING FOR FY 20, 21 AND CU'S CAMPUSES DID HAVE SOME PROJECTS ON THAT LIST.
THE JBC STAFF ALSO IS PRESENTING TO THE COMMITTEE AN OPTION TO REDUCE OR ELIMINATE FUNDING FOR THE, FOR CYBER THAT UCCS BENEFITS FROM.
THAT IS FUNDING THAT WAS INCLUDED IN LAW.
SENATE BILL EIGHTEEN EIGHTY SIX, WHICH PASSED IN 2018.
THEY'RE NOT RECOMMENDING AN ACTUAL CUT TO THIS PROGRAM, BUT THEY ARE PRESENTING IT AS A BUDGET BALANCING OPTION.
SO. SO IT DEFINITELY IS ON THE TABLE.
JBC STAFF HAS ALSO COME TO MEAN THAT CU AND MANY INSTITUTIONS IN THE STATE HAVE THREE PERCENT TUITION AUTHORITY.
WHETHER OR NOT A GOVERNING BOARD WILL TAKE ADVANTAGE OF THAT IS ANOTHER QUESTION.
BUT THAT WOULD THAT IS THE FLEXIBILITY THEY'RE RECOMMENDING.
AND THEY'RE ALSO RECOMMENDING THE ELIMINATION OF THE THREE PERCENT SALARY INCREASE THAT WAS SLATED FOR STATE EMPLOYEES.
ANY QUESTIONS ON ANY OF THAT? ON THE FEDERAL FRONT, AND TANYA MIGHT HAVE SOMETHING TO ADD TO THIS OR PRESIDENT KENNEDY, BUT JUST A REMINDER THAT ONE HUNDRED AND FIFTY BILLION DOLLARS WAS WAS APPROVED THROUGH
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THE CARES ACT FOR STATE AND LOCAL GOVERNMENTS.THE QUESTION OF THE QUESTION IS HOW MUCH OF THAT IS GOING TO BE FLEXIBLE OR IF THESE FUNDS ARE GOING TO BE FLEXIBLE.
AND PRESIDENT KENNEDY AND OUR CONGRESSIONAL THEY LOOK DELEGATION HAS BEEN WORKING VERY HARD TO ADVOCATE, TO TRY TO INCREASE FLEXIBILITY FOR THESE FUNDS.
BUT FOLKS ARE CONTINUING TO WORK ON THAT.
WHEN WE LOOK AT THE DOLLARS THAT ARE COMING DIRECTLY TO THE UNIVERSITY OF COLORADO THROUGH THE CARES ACT, IT'S ABOUT THIRTY SIX.
ABOUT THIRTY SEVEN MILLION DOLLARS TOTAL.
ABOUT HALF AND HALF OF IT HAS TO GOES DIRECTLY TO STUDENTS AND THE OTHER HALF CAN BE RETAINED BY THE, BY THE INSTITUTION TO OFFSET SOME OF THE IMPACTS.
AND WE HAVE WE GOTTEN ADDITIONAL GUIDANCE FROM THE FEDERAL GOVERNMENT IN TERMS OF THE FINANCIAL AID TO STUDENTS AND THE CAMPUSES ARE WORKING HARD TO GET THAT MONEY OUT TO STUDENTS QUICKLY.
THE 50 PERCENT RELIEF FUNDS THAT WILL COME TO THE INSTITUTIONS ARE MUCH APPRECIATED.
AND FORTUNATELY, THERE THEY ARE GOING.
WE'RE STILL GOING TO HAVE A LOT OF UNCOVERED COSTS IN THE CURRENT FISCAL YEAR.
AND I'LL SHOW YOU THAT IN A SECOND.
SO IMMEDIATE ACTIONS THAT HAVE BEEN OCCURRING ON THE CAMPUSES AND IN THE SYSTEM TO DEAL WITH THE THESE ARE JUST A FEW OF THEM AND MOST AND ALL OF THESE ARE THINGS THAT HAVE BEEN SHARED WITH THE CAMPUS COMMUNITIES AND PUBLICLY THAT.
BUT THE CAMPUSES AND THE AND THE PRESIDENT ARE WORKING HARD TO TRY TO MAKE SURE THAT WE ARE DOING ALL THE SCENARIO, PLANNING AND EXPECTATIONS SETTING ON THE CAMPUSES.
OBVIOUSLY, WE'RE IN FOR WE'RE IN FOR SOME REVENUE DISRUPTIONS.
THE QUESTION IS, HOW DEEP WILL THOSE DISRUPTIONS BE? AND SO THE CAMPUSES ARE LOOKING AT AT THREE DIFFERENT OPERATING BUDGET SCENARIOS, A FIVE PERCENT, 10 PERCENT AND 20 PERCENT OPERATING.
I MENTIONED EARLIER THAT THAT THE MONEY COMING FROM THE KAHRIZAK DIRECTLY TO THE HIGHER ED INSTITUTIONS IS MUCH APPRECIATED, BUT THAT IT WON'T QUITE BE ENOUGH TO OFFSET OUR OUR IMPACTS OR THE IMPACTS THROUGHOUT THE STATE IN THE CURRENT FISCAL YEAR.
SO HERE YOU CAN SEE THAT ABOUT SEVENTY FOUR POINT EIGHT MILLION IS GOING DIRECTLY TO INSTITUTIONS AND WHICH WILL THROUGHOUT THE STATE, WHICH WILL MEAN THAT STATE INSTITUTIONS ACROSS THE STATE WILL HAVE ABOUT TWO HUNDRED SEVENTY FOUR MILLION DOLLARS OF EXPENSES OR LOST REVENUE IN THE CURRENT FISCAL YEAR THAT WON'T BE COVERED BY THAT ASSISTANCE.
OF COURSE, WE'RE HOPING THAT THERE WILL BE FLEXIBILITY AROUND THE STATE PORTION OF FUNDS AND THAT THAT COULD HELP OFFSET SOME OF THESE LOSSES.
AT CU, WE HAVE ABOUT ONE HUNDRED AND EIGHTY SIX MILLION DOLLARS OF EXPENSES THAT WEREN'T COVERED. IN TERMS OF SUMMER FEES, AS WE APPROACH THE SUMMER TERM, THE CAMPUSES ARE EITHER NOT CHARGING OR COVERING A VARIETY VARIETY OF STUDENT FEES.
THIS IS WHAT EACH CAMPUS HAS IN STORE FOR STUDENT FEES.
AND THE ONES THAT ARE NOT GOING TO BE CHARGED OR WHICH THE CAMPUS IS COVERING THE COSTS FOR. SO THE CAMPUSES ARE WORKING HARD TO TRY TO BE SENSITIVE TO THE FACT THAT SUMMER EXPERIENCES ARE GOING TO BE REMOTE.
AND THEY'RE TRYING TO RECOGNIZE THAT IN THE FEE DECISIONS.
SO WE WORKED WITH ALL OF OUR COLLEAGUES AROUND THE STATE TO ESTIMATE THE POSSIBLE REVENUE LOSSES FOR ALL OF OUR REVENUE SOURCES, E AND G, WHICH IS OUR OPERATING BUDGET.
AUXILLARY AND RESTRICTED REVENUES.
THIS DOES NOT INCLUDE POTENTIAL STATE BUDGET CUTS.
AND SO ALL OF ALL OF THIS SO WE, ALONG WITH ALL OF OUR COLLEAGUES AROUND THE STATE, MODEL THREE DIFFERENT SCENARIOS.
ONE SCENARIO IS IF IS IF STUDENTS CAN RETURN.
ALL THE SCENARIOS INCLUDE REMOTE SUMMER LEARNING.
THE FIRST SCENARIO IS STUDENTS CAN RETURN IN THE FALL AND SPRING.
OF COURSE, THE RETURN WILL BE NOT A TRADITIONAL RETURN.
IT'LL BE MODIFIED. IT WOULD BE MODIFIED TO ENSURE SAFETY.
THE SECOND SCENARIO MODELED WHAT IT WOULD LOOK LIKE IF ALL LEARNING WAS REMOTE IN THE FALL. BUT IN PERSON IN THE SPRING AND THE THIRD ONE LOOKED AT REMOTE LEARNING AND FALL AND SPRING. SO YOU CAN SEE THAT EACH IN EACH OF THESE SCENARIOS, WE HAVE A RANGE OF IMPACT. SO THE STATEWIDE IMPACT IN SCENARIO ONE FOR HIGHER ED INSTITUTIONS COULD BE AS
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MUCH AS EIGHT HUNDRED FORTY FIVE MILLION DOLLARS IN TERMS OF REVENUE EXPOSURE.SO USE PORTION OF THAT IS ABOUT FIVE HUNDRED TWENTY SIX MILLION DOLLARS.
WE EXPECT THAT IF STUDENTS ARE ABLE TO RETURN IN THE FALL, THAT IT WILL BE A SLIGHTLY YOU KNOW, IT'LL BE A MODIFIED EXPERIENCE, WHICH WOULD PUSH US A LITTLE BIT CLOSER TO THAT TO THAT GRAY BAR AT ALL THE INSTITUTIONS IN THE STATE.
WE'RE STILL GETTING A LOT OF INFORMATION, SO WE DON'T KNOW EXACTLY WHAT THAT'S GOING TO LOOK LIKE. THAT, AS YOU CAN SEE, THE REVENUE EXPOSURE STATEWIDE IS PRETTY SIGNIFICANT FOR HIGHER EDUCATION. THIS JUST SUMMARIZES THOSE SCENARIOS.
WE THEN FOCUSED IN ON THE OPERATING SIDE OF THE BUDGET.
SO NOT LOOKING ON IT AT AUXILLARY, NOT LOOKING AT RESTRICTED, BUT ONLY LOOKING AT THE OPERATING SIDE OF THE BUDGET.
AND AND THEN WE LAYERED POTENTIAL STATE BUDGET CUTS ON TOP OF THAT.
SO HERE YOU CAN SEE IN SCENARIO ONE ON A STATEWIDE BASIS, IF THE STATE WERE TO FULLY MAXIMIZE THE FUNDING CUTS ALLOWED BY THE CARES ACT TO HIGHER EDUCATION, WHICH WOULD BE A SIXTEEN POINT NINE PERCENT STATE FUNDING CUT TO HIGHER EDUCATION.
THE WE ESTIMATE THE STATEWIDE, THE OPERATING BUDGET, THAT INSTITUTIONS WOULD BE ABOUT THREE HUNDRED SEVENTY MILLION DOLLARS SHORT OF WHERE WHERE THEY CURRENTLY ARE.
CU'S PORTION OF THAT WOULD BE ABOUT ONE HUNDRED AND FIFTY SEVEN MILLION DOLLARS.
THIS IS JUST OPERATING BUDGETS.
NOT INCLUDING AUXILIARIES OR RESTRICTED FUNDS.
SO WHAT THIS SHOWS IS THAT THE VARIOUS LEVELS OF STATE FUNDING CUTS COULD BE.
AND I ALSO PUT A 10 PERCENT INCREASE ON ON THERE BECAUSE I'M FOREVER HOPEFUL.
BUT WHAT DID THE VARIOUS STATE FUNDING LEVELS, WHAT WHAT IMPACT VARIOUS STATE FUNDING LEVELS WOULD HAVE ON HIGHER EDUCATION IN EACH SCENARIO? NOW, I MENTIONED THE SIX WEEK, SIXTEEN POINT NINE PERCENT MAXIMUM CUT THAT'S ALLOWED BY THE BY THE CARES ACT.
THE CARES ACT DOES HAVE TO HAVE A PROVISION THAT WOULD ENABLE STATES TO CUT EVEN MORE DEEPLY THAN THAT. THEY WOULD JUST NEED TO GET AN EXCEPTION THAT FROM THE FEDERAL GOVERNMENT TO ALLOW THAT.
ANY QUESTIONS ON THIS SLIDE? NOT NOT NECESSARILY ON THIS SLIDE, BUT IF PEOPLE IN THE AUDIENCE WERE STREAMING, WANTED TO SEE THIS INFORMATION, COULD GO SOMEPLACE TO GET IT? WE WILL PUT ALL OF THIS ON OUR WEB SITE AND IT'LL ALSO BE IN BOARD DOCS.
AND THIS IS INFORMATION THAT WE THAT WE PROVIDED TO THE LEGISLATURE AND TO OUR FEDERAL DELEGATION AND TO TRY TO HELP FOLKS UNDERSTAND THAT THE REALLY SIGNIFICANT EXPOSURE, THE HIGHER IT HAS, NOT JUST IN TERMS OF STATE FUNDING, BUT IN TERMS OF TUITION REVENUE AS WELL. AND I WOULD JUST SAY THAT THIS SLIDE IS VERY SOBERING.
IF YOU LOOK AT THE SIGNIFICANT AMOUNTS, I THINK THE RESPONSE WE'VE RECEIVED FROM OUR POLICYMAKERS IS THAT THEY DID NOT APPRECIATE THE MAGNITUDE OF THE IMPACTS.
AND SO I THINK THIS IS SORT OF A ONE STOP SHOPPING THAT WE CAN SHOW THEM SORT OF ALL THE DIFFERENT CATEGORIES OF WHERE WE'RE RUNNING INTO PROBLEMS WITH COVID.
VICE PRESIDENT KELLY, WITH YOU SAYING THAT.
ARE YOU TRYING TO TALK THE REGENTS THAT ARE IN THE AUDIENCE AND TO MAKING SURE THEY'RE MAKING THE RIGHT DECISION TO RUN HERE? WELL, WE'LL LEAVE YOU IN CHARGE OF THAT RECOMMENDATION.
THEN WE COULD JUST GET INTO MORE DETAILED INFORMATION.
AND I'M NOT GOING TO SPEND TIME HERE, BUT WE HAVE SLIDES THAT SHOW WHAT SHOW THE IMPACT THAT EACH INSTITUTION ACROSS THE STATE.
SO YOU CAN SEE THAT WITH, I'M GOING TO SKIP AHEAD, BECAUSE THIS IS A STATE INCREASE WITH ZERO PERCENT STATE FUNDING INCREASE.
CU'S OPERATING BUDGET GAP IN SCENARIO ONE WOULD BE ABOUT EIGHT POINT FOUR PERCENT.
AND YOU CAN SEE WHAT THOSE BUDGET GAPS ARE AT ALL THE INSTITUTIONS ACROSS THE STATE.
SO IF WE LOOKED IT OVER TO THE WESTERN SLOPE.
IF WE HAD A FOR EXAMPLE, IF WE HAD A CHAIRMAN FROM THE WESTERN SLOPE, WE COULD LOOK AT COLORADO MESA UNIVERSITY AND THEIR EXPOSURE IS ABOUT FIVE PERCENT.
IN SCENARIO ONE. AND YOU CAN SEE THAT THAT THAT EXPOSURE GROWS AS THE SCENARIOS GET MORE SEVERE. AND THIS IS JUST THE OPERATING BUDGET.
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VICE PRESIDENT SULEIMAN.DO YOU HAVE THIS BY BROKEN DOWN BY SPECIFIC C.U.
CAMPUS? THIS SLIDE AND THE PREVIOUS TWO.
I DON'T HAVE IT FOR YOU TODAY, BUT I CAN PUT THAT TOGETHER.
THANKS. ANY OTHER QUESTIONS ON THIS? SO JUST MOVING AHEAD, I'M NOT GOING TO GO THROUGH EACH OF THESE.
BUT BUT YOU ALL WILL HAVE ACCESS TO THIS INFORMATION IN THE DECK THAT'LL BE ONLINE.
I HAVEN'T, YOU KNOW, OF COURSE, I DON'T KNOW EXACTLY WHAT'S GOING ON IN EVERY OTHER STATE, BUT I THINK WE MIGHT BE THE ONLY STATE WITH THIS KIND OF INFORMATION ON THE STATE WIDE BASIS FOR ALL THE HIGHER ED INSTITUTIONS.
SO I'M REALLY PROUD OF ALL THE INSTITUTIONS WORKING TOGETHER TO PUT THIS INFORMATION TOGETHER. SO AS AT THE APRIL 2ND MEETING, WE TALKED ABOUT BUDGET BALANCING OPTIONS.
THEY HAVEN'T CHANGED, UNFORTUNATELY, THAT THAT THE THE TOOL, THE NUMBER OF TOOLS IN OUR TOOL BOX IS LIMITED.
AND AND THESE ARE THE MAJOR ONES ARE AND THE DEGREE TO WHICH WE LEAN ON THESE BUDGET BALANCING OPTIONS WILL JUST DEPEND ON HOW DEEP THE CUTS ARE.
BUT AS I MENTIONED EARLIER, THE CAMPUSES ARE ARE CREATING SCENARIOS FOR FOR A FIVE PERCENT, 10 PERCENT AND 20 PERCENT REVENUE REDUCTION IN THEIR PROPERTY BUDGETS.
SO JUST A QUICK UPDATE ON FEES.
SO THE SO AT THE FEBRUARY BOARD MEETING, WE PROVIDED WE INCLUDED IN THE PRESENTATION.
THE EXPECTATIONS AROUND FEES, THE CAMPUSES HAVE SLIGHTLY MODIFIED SOME OF THE FEE RECOMMENDATIONS FOR FOR THE NEXT FISCAL YEAR.
AND SO WE JUST WANTED TO UPDATE YOU ON THAT.
IS THAT AS WELL AS CU DENVER, YOU CAN SEE THAT THEY ARE ELIMINATING THE ONE PERCENT INCREASE FOR COURSE AND PROGRAM FEES IN THAT BUSINESS AND ARCHITECTURE AND PLANNING AND LIBERAL ARTS AND SCIENCES.
AND AND THEY'RE ALSO RECOMMENDING THE ELIMINATION OF TWO PROGRAM FEES, TWO COURSE FEES, ONE FOR ONLINE AND ONE FOR HYBRID COURSES.
AND INSTEAD OF JUST DOING A SMALL INCREASE TO THE MANDATORY TECHNOLOGY FEE, THAT WOULD APPLY TO ALL STUDENTS.
SO THIS IS THE DENVER'S WORKING TO TRY TO MAKE THIS FEE MORE EQUITABLE AND CHARGE TO ALL STUDENTS, ESPECIALLY IN THIS ENVIRONMENT, WHICH WILL IT'S A REVENUE NEUTRAL CHANGE FOR THE DENVER CAMPUS, BUT IT WILL IMPROVE THE EQUITY ON THIS FEE AND YOU CAN SEE THAT DENVER IS ALSO DECREASING THE STUDENT LIFE FEE.
AND WE NOW HAVE INFORMATION ABOUT WHERE THE RTD FEE WILL BE FOR THE FOR THE COMMUNITY.
WHEN WE LOOK AT CU ANSCHUTZ, YOU CAN SEE THAT THEY'RE HOLDING THERE THAT THE STUDENT ACTIVITY THAT THE R2D COLLEGE PASS PROGRAM WILL BE REMAINING FLAT.
AND THEY DON'T YET KNOW WHAT THE HEALTH INSURANCE FEE INCREASE WILL BE.
UCCS HAD BEEN PROPOSING INFLATIONARY INCREASES TO MANDATORY FEES.
THEY'RE ELIMINATING AND ELIMINATING THOSE INFLATIONARY INCREASES FOR FY 2021.
AND CU BOULDER. YOU CAN SEE THE VARIETY OF CHANGES HERE AND THAT ARE PRETTY MINOR CHANGES COMPARED TO WHAT WAS PRESENTED IN FEBRUARY.
BUT WE JUST WANTED TO PROVIDE YOU WITH THIS UPDATE BECAUSE WE'LL BE BRINGING THESE TO YOU IN MAY. FOR FURTHER YOUR CONSIDERATION.
AND WITH THAT, JUST A REMINDER OF WHERE WE ARE IN THE CU BUDGET SETTING TIMELINE.
SO WE JUST GAVE YOU SOME MORE INFORMATION TODAY.
WE'LL BE REFINING BUDGET ASSUMPTIONS OVER THE NEXT FEW WEEKS WITH THE CAMPUSES, WHICH IS VERY CHALLENGING. AND AS YOU COULD IMAGINE, SINCE ENROLLMENT IS A LITTLE BIT IS A BIT UNPREDICTABLE RIGHT NOW AS A STATE FUNDING.
BUT WE'LL BE BRINGING TO YOU A FINAL FINAL RECOMMENDATIONS ON TUITION FEES AND COMPENSATION AT THE MAY 19 BOARD MEETING.
AND THEN WILL THEN WE WILL WE WILL FURTHER REFINE THE BUDGET AND BRING YOU THE FINAL BUDGET AT THE JUNE 18TH MEETING.
AND OF COURSE, THROUGHOUT THE YEAR, WE'LL BE PROVIDING UPDATES ON ENROLLMENT AND REVENUES AND WE'LL BE KEEPING YOU POSTED VERY REGULARLY ON WHERE WE ARE IN TERMS OF CAMPUS BUDGETS AND CAMPUS ENROLLMENTS.
SO WITH THAT, I'M HAPPY TO ANSWER ANY QUESTIONS.
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TODD, THANK YOU.AND YOUR TEAM FOR THE HARD WORK ON THIS PRESENTATION AND THE NUMBERS THAT YOU HAVE ARE AS CURRENT AS WE CAN HAVE THEM.
NOW, I THINK THAT WHEN THE JBC AND THE LEGISLATURE GO BACK INTO SESSION, THOSE NUMBERS CAN BE UPDATED AS WELL AS WHEN WE GET SOME INFORMATION.
FEDERAL FUNDING THAT'S GOING TO COME IN.
WE HAD ORIGINALLY BEEN SLATED TO MEET ON MAY 13.
WE CHANGED THAT TO MAY 19 TO REALLY CORRESPOND WITH WHAT THE JBC AND THE LEGISLATURE WOULD DO IN TERMS OF THEIR BUDGETARY PROCESS.
OR WE SHOULD BE PRETTY UP TO DATE BY THE TIME THAT WE MEET ON THE 19TH.
MR. CHAIRMAN, WE REALLY APPRECIATE THE REGENTS TAKING INTO THAT CRITICAL TIME FRAME AS WELL AS THE CHANCELLORS, OUR FACULTY, STAFF AND STUDENTS.
WE KNOW PEOPLE ARE EAGER TO MOVE ON THINGS, BUT WE ARE HAPPY THAT WE CAN MAKE SOME INFORMED DECISIONS TO PROVIDE TO YOU BEFORE MOVING FORWARD.
SO THANK YOU, MR. CHAIRMAN, AND TO THE BOARD FOR THAT TIMELINE.
THANK YOU. I THINK THAT PEOPLE CAN SEE WHAT THE PRESIDENT AND CHANCELLORS AND THE ENTIRE TEAM ARE WORKING ON.
I DON'T THINK THAT ANYTHING LIKE THIS HAS EVER HAPPENED.
AND IF IF ANYBODY IS THINKING THAT IT'S IT'S ALL GONNA BE OKAY BY FALL, I THINK WE HAVE SOME REALLY GOOD SCENARIOS AND WE'RE WORKING HARD ON IT.
BUT THIS IS WHAT'S TAKING OUR TIME RIGHT NOW.
AND THE OPPORTUNITY TO TRY TO OPEN IN SOME SORT OF FASHION IN THE FALL IS PROBABLY THE FIRST OPTION THAT WE HAVE.
BUT AGAIN, IT'S GOING TO DEPEND ON SAFETY AND WHERE THIS WHERE THIS STUFF GOES.
SO I WOULD JUST IN HEARING WHAT HAS HAPPENED THIS MORNING IN EXECUTIVE SESSION AND ALSO KNOW IN PUBLIC SESSION, IT'S JUST AMAZING HOW HARD PEOPLE IN THE PRESIDENT'S OFFICE AND PRESIDENT KENNEDY AND THE CAMPUSES THE CHANCELLORS ARE WORKING TO.
TO TRY TO. THERE'S NO GETTING BACK TO NORMAL, I THINK WE'RE GOING TO BE DECIDING ON WHAT THE NEW NORMAL IS AS WE MOVE THROUGH THIS.
SO, UNLESS THERE'S OTHER QUESTIONS OR COMMENTS FROM ANYONE.
YEAH, I CAN. I MEAN, IF I'D LIKE I'D LIKE TO MAKE A COMMENT AND JUST SOME ACKNOWLEDGMENTS AND THIS REALLY TRULY HAS JUST BEEN ON PRECEDENTED IN THE UNIVERSITY HISTORY WHAT WE'RE GOING THROUGH RIGHT NOW FOR EVERYONE FROM LEADERSHIP TO OUR STUDENTS, FACULTY, STAFF, EVERYONE. I COULDN'T BE MORE PROUD OF THE UNIVERSITY OF COLORADO.
I COULDN'T BE MORE PROUD OF OUR OUR LEADERSHIP TEAM AND AND THE WORK THAT THEY'RE PUTTING INTO ALL OF THIS.
YOU KNOW, I REALLY APPRECIATED THAT MARK KENNEDY AND THE LEADERSHIP TEAM STEPPED UP TO TAKE A 10 PERCENT PAY REDUCTION.
I ALSO REALLY APPRECIATED THAT MARK KENNEDY HAD TAKEN HIS BONUS TO CREATE TWO SCHOLARSHIP FUNDS THAT WILL SERVE AND BENEFIT FIRST GENERATION COLLEGE STUDENTS, KIDS WHO WERE LIKE HIMSELF. AND SO IT JUST SHOWS I THINK EVERYONE'S MAKING A SACRIFICE AT SOME LEVEL OR ANOTHER. BUT I THINK EVERYONE IS IS IT FEELS GOOD ABOUT MAKING THE SACRIFICE BECAUSE IT IS FOR THE BETTER GOOD.
I I THINK ABOUT I THINK ABOUT OUR UNIVERSITY EVERY DAY AND PROBABLY TOO MANY HOURS OF THE DAY. AND MY WORRIES AND CONCERNS FOR OUR STUDENTS AND HOW ARE THEY DOING? HOW IS OUR STAFF DOING? HOW IS OUR FACULTY DOING? BUT, YOU KNOW, ALSO OUR LEADERSHIP, THEY'RE UNDER GREAT, GREAT PRESSURE RIGHT NOW TO MAKE THE RIGHT DECISIONS.
AND I THINK WE ALL CAN BE PROUD.
AND CERTAINLY THE STATE OF COLORADO AND THE LEGISLATURE SHOULD BE VERY PROUD.
I THINK OUR COUNTRY SHOULD BE PROUD OF THE TYPE OF UNIVERSITY THAT WE'RE WE'RE RUNNING HERE. AND FOR THE REGENT CANDIDATES.
WE I HOPE BY NEXT JANUARY, WHATEVER REGENTS THREE WILL BE SWORN IN, THAT MAYBE THINGS WILL BE A LITTLE EASIER.
BUT IF NOT, I REALLY APPRECIATE SEEING REGENT CANDIDATES PARTICIPATING IN MEETINGS TO BE BRIEFED AND TO HOPEFULLY HAVE A BETTER AND DEEPER UNDERSTANDING OF THE ISSUES THAT WE ARE CURRENTLY DEALING WITH.
BECAUSE I THINK TOO OFTEN FROM THE OUTSIDE REGENT CANDIDATES CAN HAVE IDEAS ABOUT HOW WE OUGHT TO BE DOING THINGS WITHOUT REALLY FULLY UNDERSTANDING THE DETAILS AND THE SPECIFICS
[00:30:04]
AND COMPLEXITIES OF WHAT WE'RE REALLY DEALING WITH.SO BY PARTICIPATING IN THIS, I KNOW THREE OF YOU WILL BE BETTER REGENTS AS A RESULT.
AND CHAIR GALLEGOS, I WANT TO THANK YOU AS WELL, BECAUSE I KNOW THIS IS NOT AN EASY TIME.
TO BE A CHAIR, I DON'T ENVY YOU.
I THOUGHT IT WAS DIFFICULT DURING MY TWO YEARS.
I THINK IT WAS A HONEYMOON COMPARED TO WHAT YOU'RE EXPERIENCING RIGHT NOW.
SO THANK YOU, GLEN, FOR YOUR LEADERSHIP.
AND I ALSO WANT TO GIVE A SPECIAL SHOUT OUT TO [INAUDIBLE] AND HIS TEAM FOR PUTTING TOGETHER A GREAT ADVERTISING CAMPAIGN.
THEY'RE THEY'RE GOOD MESSAGES AND OUR UNIVERSITY CAMPUS IS A PLACE OF HOPE.
RIGHT. DOES DOES ANYBODY ELSE CARE TO MAKE A STATEMENT OR ASK A QUESTION.
THEN I WOULD ENTERTAIN A MOTION TO ADJOURN.
SO AT ELEVEN FORTY THERE'LL BE A NEW NUMBER FOR OUR NEXT SESSION.
SO IF, IF WE COULD HAVE EVERYONE JOIN THAT EXECUTIVE SESSION AT BY THAT PARTICULAR TIME, I WOULD APPRECIATE IT.
THANK YOU.
* This transcript was compiled from uncorrected Closed Captioning.