Fellow Bears:
As it has been previously communicated, we will be holding a Budget Town Hall with the university community on Tuesday, April 20 from 10:00 a.m. - Noon. Michelle Quinn, Senior Vice President for Finance & Administration and Chief Financial
Officer, and I will host the town hall, which will be held virtually on Zoom and is
open to all students, faculty, and staff to attend. Michelle and I will discuss UNC’s
current financial health, budget outlook, and FY22 revenues -- including proposed
increases to tuition and fees for the upcoming academic year. There will be time reserved
following the presentation for questions, which Michelle, myself, and other Cabinet
members will be happy to answer.
In addition to the topics covered above, we will also discuss FY22 expenditure priorities,
including salary increases for faculty and staff, investments in the strategic plan,
and incentives for new and returning students to live on campus. A multi-year revenue
outlook will also be shared, with a projection of how incoming federal relief funds
will be used. We have recently shared a budget presentation with Student Senate and
look forward to welcoming the entire community to tomorrow’s town hall.
Despite the pandemic, this fiscal year will end more positively financially than what
was projected a year ago. The work of the financial task force implemented last summer
was very difficult, yet critical work, and has helped put us in a favorable position
despite the numerous challenges COVID has created. Our operating reserves are gradually
rebuilding and our key financial metrics are improving. We are well-positioned to
invest in the university and our strategic planning efforts in the coming years, which
is a high priority of mine.
UNC has also received federal stimulus money to help offset some of the significant
shortfall caused by the pandemic, benefiting our students and the institution at large.
UNC received $12.6 million in HEERF II relief funds in which $3.8 million was distributed
to students and $8.8 million to the institution. While it does not pertain to FY21,
there was positive news recently shared that will also benefit UNC in FY22. The Joint
Budget Committee recently approved an increase in higher education funding in Colorado
by 9.6% or $81.8 million, which is reflected with UNC receiving an additional $4.7
million.
As we near the conclusion of the spring semester, it’s clear to me what a resilient
campus we have. I am very proud of how we have collectively responded to the pandemic.
First and foremost, we have come together to prioritize the health and safety of our
community, but our campus has also been very fiscally responsible, recognizing the
significant financial impacts of COVID-19.
The Zoom link for Tuesday’s Budget Town Hall can be found here: https://unco.zoom.us/j/99435777438. American Sign Language interpretation will be provided for this event. I look forward
to seeing you there.
Rowing, Not Drifting,
Andy Feinstein
President
