The University of Northern Colorado Board of Trustees approved the 2012-13 budget and set rates for tuition, fees and room and board for the upcoming academic year at its scheduled meeting Friday, June 8.
Base tuition for resident undergraduates enrolled in 13-16 credit hours in both fall and spring semesters will increase by 3 percent, or $164, to $5,464 for the year. Institutional financial aid for undergraduates will also increase by $4.5 million. About 85 percent of UNC undergraduates receive some form of financial aid.
Other rates include:
- Nonresident undergraduate: Increase by 1 percent, or $166, to $16,988 for the year. Rates for graduate students vary by program.
- Room and board, which fall into different tiers based on the residence hall and meal plan, will increase by an average of 3 percent.
- Fees: Student activity fees will increase by 2 percent, the technology fee will remain unchanged and the library fee will increase by $12 annually to cover costs of online resources. Also, the new Student Leadership for Environment Action Fund, a three-year initiative managed by students, will help support improvements in campus infrastructure and educational initiatives by collecting $1 per credit hour (maximum of $20 a year per student).
- Updated rates will be posted the week of June 11 at: www.unco.edu/costs
Presented with scenarios of 3, 4, 5 and 7 percent increases to base tuition for resident undergraduates, the board considered the shift from continued declines in state funding (16 percent of the operating budget for 2012-13) to reliance on revenue from tuition, fees and room and board (72 percent of the budget). Ultimately, the board decided that the university has positioned itself to use reserves to smooth out the effects in the event of a revenue shortfall next year.
UNC's continued progress in identifying and enacting sustainable cost savings has been a major part of the university's long-term financial plan. As a result of the campuswide effort to reduce and control expenses, sustainable cost savings reached a cumulative total of $6.5 million for fiscal years 2011-12 and 2012-13. That exceeded the university's three-year goal of $5 million.
As part of the university multiyear financial plan to provide competitive compensation and recruit and retain faculty and staff, university employees will receive salary increases for the first time in three years. In general, employees who have met performance expectations will receive a 3 percent increase that takes into account static salaries and increased cost of living.
In other action, the board approved the following:
- Bachelor of Science program in in Software Engineering: The program will leverage existing resources to deliver the program, which meets student demand and aligns with national trends from a market research study. Enrollment is expected to begin in Fall 2013.
- Adoption of fiscal rules and an update to accounts receivable rules in accordance with Colorado Revised Statutes.
- Faculty Senate amendments to board policy to: match the current academic structure, revise the academic appeal procedure, and clarify and remove unnecessary language in the sections on faculty contracts.