Board Adopts Balanced FY27 Budget, Receives Presidential Search Update

On June 12, UNC President Andy Feinstein opened his final Board of Trustees meeting before he steps down on Aug. 1, reflecting on the recently concluded legislative session, which he described as particularly challenging for higher education. With the state facing an approximately $1.5 billion deficit, lawmakers were required to make extensive cuts and funding reallocations.

Despite the difficult fiscal environment, Feinstein highlighted several positive outcomes for UNC to the board. Among them was securing continued funding for the Center for Rural Education. Prior to this year’s session, the Colorado Department of Higher Education proposed $1.2 million in cuts from the Rural Teacher Recruitment and Retention Program, a move that would have effectively defunded the center and its related programs, eliminating critical teacher recruitment and retention efforts in rural communities across the state.

Feinstein also noted the university received over $3 million in state funding for two capital projects. However, he cautioned that the broader picture for public higher education remained largely unchanged and that the university is planning on another difficult year for funding. While state support increased $9.5 million statewide for FY27, the additional funding primarily restored a mid-year operational cut from last year, resulting in level funding.

Following Feinsten’s recap of the state’s budget outlook, Dale Pratt, chief financial officer and vice president of Finance and Administration, presented the board with UNC’s $200 million fiscal year 2027 (FY27) budget. The recommended budget, which was approved by the board, projects a balanced operating budget and a healthy cash balance of $51.5 million by fiscal year end. It also forecasts a $200,000 surplus in net revenue over expenses — an improvement from the $300,000 deficit forecast during the May meeting.

Key factors driving the positive outlook include projections for stable enrollment for undergraduate and graduate students, the restoration of funds from last year’s mid-year state funding cut that amounts to an additional $600,000 for UNC and the continued collaborative efforts of the university community to implement cost-saving measures.

The budget includes a 4% increase in tuition for undergraduate resident and non-resident students and graduate students, and a 5% increase in student fees. Pratt said the increase reflects ongoing inflationary pressures and the reality that state funding has not kept pace with rising costs. However, the tuition increase remains below the current rate of inflation. Pratt also noted that the university continues to prioritize affordability, providing approximately $67.8 million in grant and scholarship aid to students from all sources other than loans, an amount equal to about 48% of total student revenue. The university also offers the Tuition Promise, which covers 100% of standard tuition and mandatory fees for eligible students with the highest financial need.

Aligning with the university’s commitment to invest in its own workforce, the budget also supports a 3% compensation pool for faculty and administrative staff in January 2027 and the continuation of STEP increases and salary band adjustments for classified staff effective July 2026.

Moving into other business, Trustee Steve Jordan, cochair of the Presidential Search Advisory Committee, provided an update on the search for UNC’s next president. Working with executive search firm Isaacson, Miller, the committee is currently in the listening and discovery phase, gathering input from campus and community stakeholders regarding the leadership qualities and experience they hope to see in UNC’s next president.

Representatives from the firm were on campus and in the Greeley community on June 3 and 4, conducting stakeholder meetings. Jordan said those conversations will continue over the coming weeks as the firm works toward building a strong national candidate pool. The committee expects to present up to three finalists to the board in November, with finalist interviews to follow, and a presidential selection anticipated as early as December.

In other action, the board approved Feinstein’s recommendation to remove the name of César Chávez from the cultural and resource center that currently bears his name. The recommendation followed allegations that surfaced last March relating to Mr. Chávez’s legacy. In response, Feinstein charged the university with convening a task force of campus and community stakeholders to review the center’s naming.

Led by Vice President of Student Affairs Keith Humphrey and comprised primarily of current students with representation from faculty, staff, alumni and community members, the task force engaged in a number of activities over the following weeks to collect feedback through surveys and focus groups. In early May, the task force completed its work, delivering a recommendation to Feinstein that the name César Chávez be removed from the center and that the cultural center be renamed La Casita Cultural Center. La Casita in Spanish means ‘little house,’ representing the center’s welcoming environment where students feel respected, empowered and connected –– a true home away from home at UNC. Because the new name of the center is not in honor or recognition of a specific individual, no board action was required to rename the facility.

In other news, the board:

• Received the annual cybersecurity report from Chief Information Officer Phillip Wyperd, which indicated no cybersecurity-related findings, reflecting the strength of UNC’s cybersecurity posture, policies and practices for protecting institutional data and systems.
• Approved various faculty emeritus and promotion and tenure recommendations, as well as one request for an unpaid leave of absence.
• Read two Resolutions of Appreciation, one recommending the honorary title of president emeritus to Feinstein upon his conclusion of service as university president. The other resolution recognized Professor and Faculty Trustee Fritz Fischer, who is concluding his service to the board this month, after serving as a trustee for the past two years.
• Approved several recommended room namings in UNC’s College of Osteopathic Medicine. The namings recognize donors whose philanthropic investments have contributed more than $35 million toward the development of the college. According to Allie Steg-Haskett, vice president for Advancement, the recognition honors the generosity and vision of numerous individuals and organizations who have helped bring the COM to fruition, and their commitment to UNC’s mission and the success of its students.
• Approved several board policy manual amendments, including revisions to sections 1-1-201 Board of Trustees, 2-3-801 faculty evaluation, 1-1-307 faculty evaluation and 2-3-107(1) the Undergraduate Council. The board also approved the addition of section 2-1-205 College of Osteopathic Medicine Grading Process.
• Approved the FY 2028 State Capital Construction Request.
• Approved amendment one to the operating agreement between UNC and the University of Northern Colorado Foundation.
• Approved a revision to the ninth supplemental resolution to the master enterprise bond resolution.
• Received a report on UNC’s Water Resiliency Program.
• Received an update on phases III and IV of UNC’s 10-year strategic plan, Rowing, Not Drifting 2030.