Editor's note: Language has been added to a sentence in this article regarding the elimination of the $100 capital construction fee for students, clarifying that a final regent vote on the matter is pending.
On Feb. 11, day two of its two-day meeting, the CU Board of Regents learned how CU Boulder is nurturing its research and innovation environment, approved the 2021 Campus Master Plan and previewed initial budget scenarios for the coming year.
The prior day of the meeting, held on the Boulder campus, included recognition of distinguished professors, approval of plans for additional renovations to the Fleming Building and a review of preliminary data from the Campus and Workplace Culture Surveys.
Research and innovation successes
CU Boulder’s future is bright when it comes to research and innovation, Vice Chancellor for Research and Innovation Terri Fiez told the CU Board of Regents on Friday.
Fiez described how the university is cultivating an extraordinary research and creative environment, leading to global achievements such as the Emirates Mars Mission; the MOSAIC expedition to study the Arctic environment; and the world’s most precise atomic clock, enabled by developments in quantum technology.
Regents also heard how the research ecosystem is benefiting undergraduate and graduate education through student involvement in faculty-led research.
CU Boulder is leveraging its unique location and partnerships with 31 national labs in Colorado to earn “more than our fair share of highly competitive research awards,” Fiez said. Last year, the campus earned more than $630 million in research grants, a new record.
She described areas of opportunity for the campus in the years ahead, including seeking additional funding from the National Institutes of Health and the Department of Defense that aligns with campus research strengths.
Her team discussed several initiatives underway, including the AB Nexus program that provides shared grants between the Boulder and Anschutz campuses. Team members also described how the Research and Innovation Office is embracing marketing and communications to unify and amplify its work, engaging people with the university’s mission across Colorado and beyond.
Campus Master PlanĚý
Regents also approved CU Boulder’s 2021 Campus Master Plan, a document that will guide the development and maintenance of campus facilities over the next decade and provide a vision for the next 30 years.
The plan touches on nearly every aspect of campus activities, including academics and research, residential life, arts and culture, athletics and recreation, open space, transportation and parking, infrastructure and sustainability.
David Kang, vice chancellor for infrastructure and sustainability, said the plan addresses existing gaps in housing, office space and research infrastructure.
Several regents expressed support for increasing the amount of on-campus housing.Ěý
Kang emphasized that the plan is intended to support research, teaching, and most importantly, student success. The plan also provides flexibility for unpredictable changes in the coming years.
Learn more about the Campus Master Plan.
Budget and fee proposals
Regents also received an overview of potential budget scenarios for the 2022-23 fiscal year, including anticipated tuition and fees for students. The board will approve a final budget in June.
The proposals are based upon two changes that regents approved last year that will go into effect for new incoming students in fall 2022 (pending legislative approval):Ěý
- The implementation of new tuition “tiers.”Ěý
- An increase of no more than $500 in tuition and fees for incoming undergraduate resident students, each year for the next three years.Ěý
CU Boulder’s four-year tuition guarantee ensures students and families are not impacted by year-over-year tuition increases.
The campus seeks to eliminate the capital construction fee beginning in fall 2022 and pending a final regent vote in April, saving students $100 each spring, summer and fall term. Announced in December 2021, this elimination is part of the acceleration of the CU system strategic plan and campus priorities.
CU Boulder’s 2022-23 budget proposal also includes:Ěý
- A 3% tuition increase for graduate students and incoming non-resident undergraduate students.
- A 3% increase in rates for residence halls and graduate and family housing.Ěý
Regent Sue Sharkey praised the campus for its efforts to keep tuition increases in check.
“In this time of great inflation, the university is working very, very hard at keeping tuition rates as low as we possibly can,” Sharkey said. “It shows the good work of the university in paying attention to what the needs are of our students, who are the tuition payers.”
Based on enrollment projections and tuition/fee plans, the campus is proposing several targeted investments for 2022-23:
- Between $7.55 million and $7.73 million to colleges, schools and academic/administrative support units to fund various academic, strategic and operational needs. This funding will flow through CU Boulder’s Budget Model Redesign process, which takes effect in the 2022-23 fiscal year.
- $1.2 million toward faculty tenure and promotion to help address market pressures, better align with peer universities, combat inflation and retain faculty.
- $1 million toward the chancellor’s diversity initiative, which could include support for affinity groups, DEI impact grants, faculty mentoring, or other programs.
- Increased funding for institutional financial aid, deferred maintenance and technology infrastructure.
The board also received an update on the 2021-22 fiscal year budget, which ends June 30.
Because undergraduate enrollment is slightly higher than anticipated and includes more non-resident students, campus revenue projections are currently about 1.85% higher than budgeted.
The CU Board of Regents gave approval Friday to spend the additional revenue, a step required by system policy. CU Boulder will use the additional funding to cover the cost of fee remission for graduate students on appointment, a move announced in November.
Treasurer Tony Vu also gave a quarterly report on the current investment environment.
The Regents approved a resolution supporting incorporating Principles of Responsible Investing into the university’s investment process, with Regent Ken Montera and Sharkey abstaining.
Other business
The CU Board of Regents also bestowed the title of Regent Emeritus on Chance Hill for his dedicated service on the board. Hill resigned in November to pursue professional opportunities outside Colorado. Gov. Jared Polis appointed Ken Montera to fill the seat through this year.
On Thursday, the board honored new distinguished professors, approved phase two renovations for the Fleming Building and received updates on the 2021 Campus and Workplace Culture Survey. Read a recap of Thursday’s meeting activity.
The next regular Board of Regents meeting is April 7–8 at CU Denver.
