TO:

Board of Trustees

FROM: Kirsten
M.
Volpi
Executive
Vice
President
for Finance and Administration

DATE:
May 18, 2015

SUBJECT: FY 2016 Budget



I. BACKGROUND
INFORMATION

As we approach fiscal year 2016 and the development of the budget, there are key strategic
factors as well as operational needs that translate to our financial position, both short and
long term. This year’s budget considerations focus on the continuation of our strategic
investments as well as meeting operational needs.

Fiscal year 2016 will bring an increase in financial support from the state. However, even
with this growth, we are experiencing a softening of our revenue base primarily due to our
moderating of tuition rate increases along with the leveling off of undergraduate enrollment.
This has made our ability to manage the delicate balance of having to make strategic and
critical investments while minimizing the impact on students and tuition even more difficult
this year. This budget was developed by prioritizing our resource needs in relation to our
revenue position and the impacts not only to the upcoming year, but future years.

State Funding
Continued economic growth in Colorado has allowed the state to increase its allocation
(excluding financial aid) for higher education to $671 million for 2016, an increase of 11%
from 2015.

Fiscal year 2016 is the first year for allocating funds under HB14-1319, which provided new
parameters for higher education funding, superseding the pay for services model in prior
years, and moves us to a pay for “performance” model. While the financial impact of this new
allocation was positive for 2016, the parameters of this model greatly benefit larger
institutions as the model is heavily driven by enrollment volume. In order to smooth out
funding inequities for universities that do not operate with high volume, the model includes a
variable amount that is applied to those universities with smaller enrollment. Given that this
variable amount is not mandated in legislation and is subject to annual negotiation, future
allocations are not predictable. Also, this new allocation model relies heavily on the
availability of new funds for performance allocations. Without increases in funding each year,
the model, as implemented, will most likely redistribute base funding to large enrollment
FY16 Budget 1

universities and would require significant adjustments/negotiations in order for us to maintain
our current allocation.

Based on the overall 11% increase for Higher Education, the Colorado School of Mines will
receive an increase in state funding of $1.88 million (10%) in fiscal year 2016 for a total of
$20.55 million to be received in the form of College Opportunity Fund stipends and fee for
service contract.

The chart below reflects state funding for Mines since fiscal year 2007 along with our
financial aid commitment pursuant to SB10-003:
 






* Upon passage of the Long Bill


Fiscal Year 2016 for other Research Institutions:

CU ‐ $184,615,667 (increase of $17.27 m)
CSU ‐ $134,660,187 (increase of $12.68 m)



In the March 2015 revenue forecast, the Governor’s budget office noted that continued
economic growth in Colorado is likely to lead to TABOR refunds as soon as next fiscal year
(one year earlier than previously projected). Once the Referendum C limit is met, the state is
required to distribute the excess (refund) to Colorado tax payers. The source to fund the
FY16 Budget 2


refunds is any discretionary budget within the state’s general fund. As higher education is
one of a few discretionary line items within the state budget, it could be the most affected by
the TABOR refunds.

Pursuant to the state’s projections, they have been able to budget refunds for the fiscal
years 2014-2015 and 2015-2016 without a negative impact to higher education. However,
the source of funds to pay for the refunds projected for fiscal year 2016-2017 has not been
determined; both higher education operating funds as well as capital funds are at risk of
reduction.

Due to the economic outlook and the unknown impacts of HB14-1319, we are modeling a
state funding decline in fiscal year 2017 and beyond.


II. DISCUSSION

The university continues to make strides in funding strategic and critical investments. The
proposed budget reflects investing in areas that are critical to the operations of the university
as well as efforts to align resources with the strategic initiatives set forth in the strategic plan.

This budget represents all funds received and used by the university and is categorized as
current unrestricted funds (“operating”), funds that are designated for particular purposes
(faculty start up and indirect cost recoveries), restricted funds (research and gifts) and the
university’s endowment funds. The budget is summarized in Attachment 1 and the changes
for each fund are summarized below and detailed in Attachment 2.


Current Unrestricted
Current Restricted Endowment and
Operating Fund
Designated Fund
Fund
Loan Fund
Total
Revenue
$ 183

,807,854
2
$ 6,115,203
$
83,

960,739
$
71
6,441
29
$ 4,600,237
Expense
$ 183

,104,259
2
$ 1,724,556
$
79,

734,922
$
42
4,617
28
$ 4,988,354
Net Activity
$ 703,

595
4
$ ,390,647
$ 4,
225,817
$ 291,

824
$ 9,
611,883







FY16 Budget 3


Operating Revenue
Operating revenues are expected to increase by $11.31 million outlined below:


FY 2016 
Revenue:
FY 2015 Base
Adjustments
FY 2016 Budget


Tuition
$116,098,852 
$8,298,605 
$124,397,457 
State Funding
18,669,456 
1,877,872 
20,547,328 
Housing and Dining Revenue
16,977,495 
800,960 
17,778,455 
Indirect Cost Return from Research Activity
11,680,000 
299,866 
11,979,866 
Continuing Education
4,133,518 
33,063 
4,166,581 
Other Revenue
3,038,167 
3,038,167 
Gift Revenue from the Mines Fund
1,900,000 
1,900,000 
Total
$172,497,488  $11,310,366  $183,807,854 

The increases are based on the following assumptions:

 Tuition increases of 2.9% for resident students and 3.9% for non-resident students.

 An incoming freshmen class of 1,000 and transfers of 159. Although these incoming
class numbers are flat from fiscal year 2015, total enrollment is expected to increase
due to the increase in our retention numbers; with higher retention, we anticipate an
increase in undergraduate resident students of 1.55% and an increase in non-resident
students of 6.77%. This overall increase in enrollment reflects the greater number of
non-resident students that have enrolled in prior year classes as they matriculate
through the system and replace older classes that had less non-resident students. The
enrollment increase also reflects an increase in non-resident retention. The enrollment
projections assume an increase in graduate enrollment of 3%.

 State Funding increase of $1.88 million or 10%.

 Auxiliary Revenue is expected to increase by $0.80 million. The increase is primarily due
the average increase of room and board of 5%.

 Indirect Cost Recoveries for research spending is expected to grow slightly by $0.30
million due to an increase in the indirect cost rate on new research awards.

 Continuing Education will increase slightly by $0.03 million.




FY16 Budget 4


Operating Expenses
Operating expenses are expected to increases by $13.09 million. The increases in expenses
are for strategic initiatives and operational needs as follows:

FY 2016 
Expense:
FY 2015 Base
Adjustments
FY 2016 Budget
Labor – salaries and benefits
$88,858,073 
$5,575,661 
$94,433,734 
Graduate Support
11,874,751 
438,374 
12,313,125 
Adjunct
1,458,988 
96,560 
1,555,548 
Undergraduate Financial Aid
18,035,637 
3,778,157 
21,813,794 
Debt
7,560,283 
2,270,159 
9,830,442 
Operations and Maintenance
7,415,550 
373,385 
7,788,936 
Housing and Dining Operating
6,569,672 
204,820 
6,774,492 
Other Operating
6,127,636 
539,815 
6,667,451 
Capital Renovation and Operating Reserves
6,790,000 
(409,573)
6,380,427 
New Faculty Start Up
5,119,768 
5,119,768 
Indirect Cost Return Distribution
2,940,505 
2,940,505 
Information Technology Operating
2,423,909 
249,744 
2,673,653 
CSMF Development Fee
1,900,000 
1,900,000 
Library
1,650,962 
103,000 
1,753,961 
Continuing Education
1,286,383 
(127,960)
1,158,423 
Total
$170,012,117 
$13,092,142 
$183,104,259
 


Strategic Initiatives $3.72 million

Over the last several years, we have been investing in strategic initiatives. Most notable are
the investments in faculty over the last few years. Since 2012, we have increased our
tenure, tenure track and teaching faculty over 30%. Our continued investment in faculty has
directly impacted the quality of our classroom teaching as well as strengthened our research
agenda.

Our investments also include advancing our residential campus initiative. This began in 2006
with the construction of our recreation center and was continued with the renovation and
addition of residence halls on campus so that all of our freshman students could live on the
core of campus. We also built a new dining facility and will be renovating the Student Center
that will create more dining options for students, provide a one stop shop for student
services, and will greatly enhance the Bookstore.

We have also supported student and faculty success in a number of ways: in 2012, created
the Center for Academic Services and Advising (CASA); in 2013 developed a state of the art
studio biology lab; and last year, provided seed funding to create the Center for Innovative
Teaching and Learning.

FY16 Budget 5


The current budget proposal continues to focus on funding priorities for the strategic plan
and where we have been strategically investing over the last few years. We are continuing
our investment in faculty, providing initial seed funding for a new student success and
innovation hub, infrastructure, and continuing to deploy certain systems in order to enhance
business processes. These major initiatives are outlined below:

 Continued Investment in Faculty (Strategic Plan Goal 1) $1.92 million – as we have
recently had an aggressive strategy for hiring tenure/tenure track and teaching faculty,
this year we are moderating those hires, but within this budget, have provided for three
faculty hires that will be strategic. We are allocating additional funds for faculty salary
increases that will address equity issues as well as provide for promotion and tenure
salary increases. The Applied Math and Statistics department is creating a Post-Doc
program that will change course delivery and improve research. This budget also
includes funding for adjuncts to lower section sizes as new tenure line faculty are building
their research programs.

 A Student Success and Innovation Hub (Strategic Plan Goal 2) $0.34 million create a
student success and innovation hub that will be the locus for the integrated Mines
academic experience. This hub will serve as the catalyst for the next step in the
residential campus initiative, a critical service center for the integration of the first and
second year experience, and a starting point for the innovation program that will likely
align with EPICS. The seed funds will be used to create a prototype of a design studio for
students to access and use for group work and/or individual entrepreneurial experiences.

Additionally, capital funds ($2.5 million) will be allocated to repurpose and reimagine the
underutilized space in the library for programs that promote student success, active
learning instruction, and instructional excellence.

 Continued Enhancement of Business Processes (Strategic Plan Goal 4) $0.34 million –
as a continuation from prior years, we will assess and redesign processes and invest in
technology where appropriate to employ best practices, improve administrative
infrastructure and streamline processes. We have been making strategic investments in
this area and will continue to do so past this fiscal year. Our strategic focus for
enhancement in fiscal year 2016 are the areas of the Registrar’s Office, the
(undergraduate) Admissions Office, and Human Resources.

 New Buildings $0.54 million – Three new buildings are expected to open later in 2015:

 The Starzer Welcome Center will be central to furthering our outreach to new
students, alumni, and friends by expanding our ability to garner institutional
support and infrastructure development through alumni outreach and
Foundation initiatives;
 Clear Creek Athletic Complex will expand our residential campus by bringing a
world class athletic facility to not only our student athletes, but those within the
Mines community; and
 The GRL Annex, while serving as a temporary home for the Physics
laboratories, will be used as an expansion of our infrastructure to grow our
research portfolio.

FY16 Budget 6


 Other Strategic Investments $0.58 million – include the support of an Endowed Chair in
Mining, a K-12 Outreach program, student recruiting and support, support for a branding
and marketing study, and continued investment in the Center for Innovative Teaching
and Learning.


Operational needs $9.37 million

Operational budget increases are provided to address critical needs within the departments
that, without support, could impact operations.

Salaries and Benefits $2.58 million – The legislature sets the salary and benefit increases
for classified staff. For this year, they have approved an increase of 2% (1% base
adjustments and a 1% merit increase). Consistent with the proposed level of academic
faculty increases, we propose to increase administrative faculty 3% (1% for base
adjustments and 2% for merit). Also included is the annualization of positons that were hired
mid-year in 2015.

Benefits increases not only include health care, but also the statutory increase for the state
retirement plan (PERA) of 0.90%. Total benefit increases are $1.32 million.

FTE – This budget requests the addition of 21 new FTE that are categorized as follows:

 3.5 funded with realignments of existing funding and thus have no budget impact;
 7 faculty including one endowed chair;
 1 director for the K-12 outreach program;
 7 facility positions to operate new buildings: the Starzer Welcome Center, the Clear
Creek Athletics Complex, and the GRL Annex;
 1 to support research;
 0.5 to support enrollment management; and
 1 for classroom technology support

A complete listing of all new positions and their related areas are provided in
Attachment 2.

Financial Aid $4.13 million – The budget includes our commitment under SB10-003 to
convert all state funds received pursuant to fee for service to financial aid and graduate
support within ten years. Fiscal year 2016 will be the fifth year of the commitment with a total
budget of $7.13 million (50% of our fee for service contract) in additional institutional
financial aid and graduate support dedicated to resident students. To meet this target, the
proposed budget request includes an increase of $2.11 million undergraduate resident
financial aid and $0.07 million for graduate resident support.

In addition, the proposal includes requests for non-resident students with an additional $1.67
million allocated to undergraduate financial aid and $0.28 million for graduate support.



FY16 Budget 7


Other Critical Needs

 Debt and Other Operating $2.07 million – Included in other operating expenses are
increases for debt ($2.27 million) primarily for the Clear Creek Athletics Complex and Elm
Residence and Dining Hall which opened this year (approximately $0.65 million of this
debt will be funded from housing reserves). Other nondiscretionary increases include
utilities, software licenses and other contractual agreements ($0.45 million).

 Academic Affairs $0.14 million – support for the library collection (electronic); information
technology and Banner upgrades; and support for Faculty Senate.

 Finance and Administration $0.14 million – increase in the cost of existing software
licenses, and increases for Environmental Health and Safety services, a budget analyst
for auxiliary activity (an increase in FTE but no impact to the budget), and professional
services within Human Resources.

 Research and Technology Transfer $0.08 million – personnel support for research, and
an associate to bring in house some of the technical aspects of technology transfer
licensing.

 Student Life $0.23 million – funding to enhance the transportation practices for student
athletes, student athlete recruitment, and a new enrollment document management
system.





FY16 Budget 8


Designated and Restricted Activities

Designated and restricted revenues are expected to increase by $1.11 million and expenses
are expected to decrease by $1.63 million as detailed below:
FY 2016 
Revenue:
FY 2015 Base
Adjustments
FY 2016 Budget
Sponsored Research Grants/Contracts
$57,773,691 
$57,773,691 
Gifts
21,256,629 
21,256,629 
Fees
17,316,411 
519,492 
17,835,903 
Auxiliary
5,164,756 
500,000 
5,664,756 
Financial Aid
5,153,903 
207,401 
5,361,304 
CO Geological Survey ‐ State Support
1,595,601 
158,133 
1,753,734 
Other
1,420,298 
(273,932)
1,146,366 
Total Revenue
$109,681,289 
$1,111,094 
$110,792,383 
Expense: 
Sponsored Research ‐ salaries, benefits & operating
$56,449,946 
$56,449,946 
Other Labor – salaries and benefits
16,349,265 
123,216 
16,472,481 
Designated Auxiliary Operating
10,643,641 
34,000 
10,677,641 
Undergraduate Financial Aid
9,701,736 
207,041 
9,908,777 
Debt
4,134,073 
(118,649)
4,015,424 
Other Operating
3,780,021 
54,804 
3,834,825 
Capital Renovation/Controlled Maint.
2,457,034 
(1,932,034)
525,000 
Total
$103,515,716 
($1,631,622)
$101,884,094 
Net Activity
$6,165,573 
$2,742,716 
$8,908,289  

Designated Funds
Designated activity includes revenues derived for a specific purpose and cannot typically be
used to fund general operations. Examples include the Academic Facility Fee designated for
debt services payments, Student Activity Fees used for student organizations, lab fees, and
funds set aside for faculty research and professional development.

Designated Revenue is expected to increase by $0.96 million primarily due to student fee
revenue increases from enrollment and Severance Tax to the Colorado Geological Survey
(see below). Operating expense will increase slightly ($0.12 million) due to the increase in
salary and benefits, increase in flu shots and to support the Celebration of Mines activities.
Capital renovations/controlled maintenance will decrease by $1.93 million due to the
completion of the Student Center renovation in 2015.
Restricted Funds
Restricted Funds are restricted from outside entities and include all of our federal, state and
private research, activities supported by our donors and the CSM Foundation, as well as
federal and state financial aid. We are anticipating research expenditures (not awards) to
remain relatively flat but we do anticipate a small increase for state financial aid of $0.21
million.
FY16 Budget 9


Endowment Funds
Endowment funds are resources invested in perpetuity and represent those endowment
funds that are owned by the university (as opposed to the CSM Foundation) and include
both restricted and unrestricted sources. The income in this section includes investment
earnings or new gifts and expenses represent spending from the university’s endowment
and the foundation fee for administering university endowments. We expect the activity to
remain relatively flat for the next fiscal year.
Colorado Geological Survey
Beginning with fiscal year 2014, legislation was passed moving the Colorado Geological
Survey (CGS) from the Department of Natural Resources to the Colorado School of Mines.
CGS transitioned to the university and is now a function within the College of Earth
Resource Sciences and Engineering. The funding for CGS comes primarily from state
general funds and severance tax. CGS also receives state and federal funds for research.
Because the majority of their funding is derived from state resources, they are separately
appropriated in the Long Bill. Below is the fiscal year 2016 budget that has been approved
and appropriated in the Long Bill:

Colorado Geological Survey
FY 16 Budget

Designated 
Federal/ Restricted 

State Funds
Funds

Revenue
  State General Fund
$411,494

  Severance Tax
1
          ,342,243
  Grants and Contracts
1
                    90,397

  Other 
185,
            
542
Total Revenue
1,
          939,279
190,
                   
397


Expense
  Labor
1
          ,567,369
127,
                   
517
  Operating
           371,910
          
62,
          
880

Total Expense
$1,939,279
$190,397

Because their funding is separately budgeted and appropriated in the state’s Long Bill, their
budget cycle begins in June and must be submitted to the Office of State Planning and
Budgeting in August (almost one year in advance of the CSM budgeting process). The fiscal
year 2017 budget request is still in development and is not expected to have material
changes. However, they may be requesting one additional FTE (a Geologist) that, if
approved, will be funded with additional severance tax.
FY16 Budget 10


CSM Foundation Budget
CSM receives annual funding for specific administrative operating activities outlined below:
 
 
CSM Support: 
Legislative Relations 
FY 2015 
FY 2016 
Federal Legislative Services 
$150,000 $150,000
Colorado Legislative Services  
110,018 111,118
$260,018 $261,118


General CSM Support 


Institutional Support 
$250,000 $250,000

 
 



Total CSM Support 


$510,018
$511,118



 
In addition to in-kind services, the university provides financial support of the CSM Alumni
Association (CSMAA), specifically for the Mines Magazine as well as general operations.
For fiscal year 2016, the CSM Foundation will provide financial funding to the university in
order to support our funding of the CSMAA. In addition to this support and other in-kind
services, the CSM Foundation supports the CSMAA for the Mines on the Move program as
well as many other programmatic operations.
 
The Colorado School of Mines Foundation Budget in its entirety is included for informational
purposes in Attachment 3.
















FY16 Budget 11


III. RECOMMENDATION

The Finance and Audit Committee recommends to the Board of Trustees for approval the
Fiscal Year 2016 Budget. With a new President starting at the beginning of this budget year,
the Committee recognizes that he may have alternate initiatives that could impact the 2016
budget. The Committee acknowledges that those changes can be made through our
quarterly forecast process.


o The Colorado School of Mines budget:

Current

Unrestricted
Designated
Current
Endowment and

Operating Fund
Fund
Restricted Fund
Loan Fund
Total


Revenue
$ 183,807,854

$ 26

,115,203
$ 83,960,739

$ 716,44

1
294,600,237
$


Expense
$ 183,104,259

$ 21

,724,556
$ 79,734,922

$ 424,61

7
284,988,354
$


Net Activity
$
7
03,595
4
$ ,390,647
4,
$ 225,817
2
$ 91,824
$ 9,
611,883


o Colorado School of Mines Foundation unrestricted support on behalf of the
university in the amount of $511,118 for the Colorado School of Mines.


IV. RESOLUTION


BE IT RESOLVED that the Board of Trustees hereby approves the Fiscal Year 2016 Budget
as follows:


o The Colorado School of Mines budget:

Current

Unrestricted
Designated
Current
Endowment and

Operating Fund
Fund
Restricted Fund
Loan Fund
Total


Revenue
$ 183,807,854

$ 26

,115,203
$ 83,960,739

$ 716,44

1
294,600,237
$


Expense
$ 183,104,259

$ 21

,724,556
$ 79,734,922

$ 424,61

7
284,988,354
$


Net Activity
$
7
03,595
4
$ ,390,647
4,
$ 225,817
2
$ 91,824
$ 9,
611,883


o Colorado School of Mines Foundation unrestricted support on behalf of the
university in the amount of $511,118 for the Colorado School of Mines.
FY16 Budget 12


Colorado School of Mines
All Funds Operating Budget
Fiscal Year 2016
(in millions)
Attachment 1
Designated & 
FY16 
Designated & 
Restricted FY16 
Total FY16 
FY15 
Proposed 
Restricted FY15 
Proposed 
Total FY15 
Proposed 
in millions 
Forecast 
Budget
Forecast
Budget
Forecast
Budget
Revenues
Tuition and Fees (including Continuing Education)
$126.35 
$134.86
$17.32
$17.84
$143.67 
$152.69 
Research
            11.68             11.98
                 57.77
 
                 57.77
             69.45              69.75 
Auxiliary
            16.51             17.78
                   5.16
                   5.66
             21.67              23.44 
Fee for Service/State Support
            12.38             14.26
                   1.60
                   1.75
             13.98              16.01 
Gifts
              1.90               1.90
                 20.57
 
                 20.57
             22.47              22.47 
Other
              3.81               3.04
                   7.26
                   7.20
             11.08              10.24 
Total Revenues
172.63
       183.81 
            109.68              110.79 
        282.31 
      294.60 
Expenditures
Instruction
60.60            65.97
                   9.10
                   9.10
             69.71 
75.07
Research
4.10              4.22
                 57.23
 
                 57.32
             61.33 
61.55
Public Service
                   ‐                   ‐
                   0.24
                   0.24
                0.24 
0.24
Academic Support
            19.64             20.50
                   0.21
                   0.21
             19.85 
20.71
Student Services
5.35              5.79
                   1.65
                   1.65
                7.01 
7.44
Institutional Support
17.40            18.22
                   0.90
                   0.90
             18.30 
19.12
Operations and Maintenance of Plant
            16.99             19.14
                   3.80
                   3.79
             20.79 
22.93
Scholarships & Fellowships
            18.04             21.81
                   9.75
                   9.95
             27.79 
31.76
Auxiliaries
            19.05             21.07
                 18.15
 
                 18.19
             37.19 
39.26
Total Expenditures
161.16
      176.72
            101.04
            101.36
        262.20 
      278.09 
Net Operating Activity Before Reserves
11.47
7.08
8.65
9.43
             20.12              16.51 
Capital/Reserve Additions
           10.86               6.38
                   2.48
                   0.52
            13.34               6.90 
Net Operating Activity
$0.61 
$0.70 
$6.17 
$8.91 
$6.77 
$9.61 
FY16 Budget 13

Attachment 2 

Detail for Incremental Budget Adjustments  
 
Current Unrestricted Fund Expenses 
Incremental adjustments to the current unrestricted budget are proposed as follows and detailed below: 
 
Salary and Benefit increases ‐    
 
$5.7m 
 
Financial Aid/Graduate Support increases ‐  
$4.1m 
 
Operating Expense increases ‐   
 
$3.9m 
 
Fund balance used for debt ‐  
 
 
($0.7m) 
 
 
 
 
Total   
 
 
 
$13.0m 
 
 
FTE  Salary and Benefit Increases                                                                             increase of $5.7 million 
9  Academic: 
 
 
Faculty 
652,392 
 3 Strategic TTT hires 
 2 TTT positions (realignment of budget $0 impact) 
 3 Teaching faculty 
 
Endowed Chair – 1FTE 
139,400 
 
TA budget – SB003 funds with no additional budget impact 

 
Adjuncts – First of a two year increase  
96,560 
 
Student Success and Innovation Hub faculty buyout; student hourly; teaching post‐docs 
136,280
 
 
12  Administrative Staff: 
President’s Office 
105,300 
1.0 
 Director for K‐12 Outreach 
Academic Support  ‐ 1 FTE 
84,240 
1.0 
 AV/Classroom Support Technician 
  Student Services – 0.5 FTE 
27,060 
0.5 
 Document Scanner/Indexer for Enrollment Management  
  Research and Technology Transfer – 1.50 FTE 
172,692 
0.5 
 Technology Transfer Licensing Associate (realignment of budget $0 impact) 
0.5 
 Associate Vice President for Research 
0.5 
 Research Advisor to the President  
 
Finance and Administration 
277,355 
1.0 
 Budget Analyst for Student Life/Auxiliary cash funded activity (realignment of 
 
budget $0 impact) 
7.0 
 Facility Maintenance for operations of new buildings 
 
 
Other Labor Increases (Fringe Benefits, Increases, Annualizations): 
Increase due to annualization of positions, fringe benefit increase, personal services and 
1,489,651 
student hourly 
Classified Salary increases and related benefits 
328,717 
Promotion, Equity and Merit Pool and related benefits 
2,182,895 
FY16 Budget 14

 
Financial Aid and Graduate Support                                                                                  increase of $4.1 million 
Financial Aid for Undergraduate 
  Resident ‐ $2,105,818 
  Non‐resident ‐ $1,672,339    
      3,778,157
Graduate Support 
  Resident ‐ $70,905 
  Non‐resident ‐ $281,189   
352,094
 
Operating Expense                                                                                                                  increase of $3.9 million  
Utilities  
107,236
New buildings  
265,400
IT operating and hardware/software support  
249,744
Debt service 
2,269,431
Research instrumentation match 
244,070
Athletics transportation 
199,000
Administrative software and licenses 
198,500
Increase for meal plans (Sodexo) 
175,798
Other operating increases include increases to operating budgets for marketing, 
library, diplomas; recruiting and consulting and other operating expenses 
213,815
  
Fund Balance used for Debt payment   
 
 
 
 
decrease of ($0.7 million) 
Auxiliary  
 Resident Housing 
(653,643)
 
 
Designated Fund 
Expenses                                                                                                                                  increase of $.11 million 
Health and Student Services 
  46,000
 Flu Shots ‐ $9,000 
 Celebration of Mines ‐ $25,000 
 Student Hourly ‐ $12,000 
Other Operating and Labor 
60,000


FY16 Budget 15

Attachment 3
COLORADO SCHOOL OF MINES FOUNDATION, INC.
FY'16  UNRESTRICTED OPERATIONS BUDGET REQUEST
 
4/23/2015                DRAFT
3%   salary adjustments
  Change from prior year
FY'16
FY'15
Amount
Percent
REVENUE:
Endowment Administrative Fee
$3,420,000
$3,066,069
353,931
12%
CSM Campaign Development Services Fee
2,160,000
1,900,000
260,000
14%
CSM  Endowment Held ‐ Investment Fees
505,000
471,556
33,444
7%
Administration Fee on Non‐Endowed Restricted Gifts
240,762
235,775
4,987
2%
Unrestricted Cash Contributions‐Bequests, trusts,etc
150,000
130,000
20,000
15%
Unrestricted Investment Income
210,000
210,000
0
0%
Other Sources
68,500
32,101
36,399
113%
  CSMF Reserve Endowments
150,774
66,000
84,774
128%
  CSMF Reserve Endowment‐Welcome Center lease
199,600
202,750
(3,150)
‐2%
(Payment to CSMF is waived for FY15 thru FY18 (4 years))
Total Revenue
$7,104,636
$6,314,251
$790,385
13%
 
EXPENDITURES:
CSM Foundation:
 
University Advancement
 
  Personnel Compensation
$
4,113,120
      
$3,509,832
603,288
17%
Operations 
1,251,151
1,180,151
71,000
6%
Total 
5,364,271
4,689,983
674,288
14%
Finance and Administration
  Personnel Compensation 
1,000,497
901,000
99,497
11%
Operations 
218,750
203,250
15,500
8%
CSMF/CSM President contract
10,000
10,000
0
0%
Total 
1,229,247
1,114,250
114,997
10%
CSM Support:
Legislative Relations
Federal Legislative Services 
150,000
150,000  
0
0%
Colorado Legislative Services 
111,118
110,018
1,100
1%
Total
261,118
260,018
1,100
0%
President's Discretionary
250,000
250,000
0
0%
Total Expenditures
$7,104,636
$6,314,251
$790,385
13%
FY16 Budget 16