ASU trustees: Budget must improve $2.7M
ALAMOSA — Following a meeting in Denver on Thursday, the Adams State University Board of Trustees issued the following statement concerning the board’s action to deal with financial constraints at the university:
“Given the recommendations contained in the Huron Report and fiscal concerns identified by the Higher Learning Commission, the board hereby adopts as the first significant component of the Fiscal Action Plan a goal of $2.7 million improvement in net operating results for FY18 compared to FY17. This will be achieved through cuts in expenses and increases in additional revenues.
“While the board anticipates that identifying savings will impact many aspects of the university, several core values, aspirations and mandates will be central to the university’s implementation of the Fiscal Action Plan. These include: cost-of-living adjustment for faculty and exempt staff; state-mandated increases to classified staff salaries; adjustment of all faculty and staff salaries to a minimum salary of 72.5 percent of CUPA peers as well as associated adjustments to minimize salary compression; and budgeting for a continued decline in on-campus undergraduate enrollment.
“Furthermore, the board directs the administration to proceed with the development of specific recommendations pertaining to these cuts and to present these recommendations for approval by the board at the regular April 5 and 6 board meeting.”