TO:

Board of Trustees

FROM:
Kirsten M. Volpi


Executive Vice President/COO/CFO/Treasurer

DATE:
May 5, 2017

SUBJECT:
Fiscal Year 2018 Budget


Outlook


As we look to the fiscal year 2018 budget (and beyond), we (among many universities across the
country) find ourselves at an inflection point; a crossroads where the limits of our traditional
educational and economic model is running up against both our practical and aspirational goals. It is
vital that we proactively position ourselves for a future in a highly competitive higher-education
market. The key will be striking a balance between financial sustainability and our institutional
aspirations while allowing us to produce additional revenue streams to support our core role and
mission.

On a national basis, decreasing state and federal support, tuition increases, large student debt, low
family income and the growing discount rate have and will likely continue to negatively impact the
traditional higher education business model. At Mines, we have seen a slowing of revenue growth over
the past few years primarily due to the flattening of our undergraduate enrollment, moderating of our
tuition increases, a steady decline in our graduate enrollment, and a leveling off of other revenue (e.g.,
externally sponsored research). During this time, we have experienced operating expense growth that
has been out pacing our operating revenue growth.


Colorado School of Mines
Board of Trustees
May 5, 2017



Complicating this picture, we have experienced significant difficulty in predicting enrollment and
enrollment trends. The decline in the energy and commodities market that emerged several years ago,
the geopolitical matters that surround our international prospective and current students, and our
continued decline in graduate enrollment – that is counter to national trends – are placing significant
uncertainty in our ability to predict future enrollment. Nationally, undergraduate enrollment is shifting
to larger, more comprehensive universities as they pursue a business model that is based on enrollment
growth. As a result, smaller to mid-sized universities are experiencing enrollment declines.

Compounding this trend, nationally universities are focusing on, and growing their STEM programming.
Thus, we are seeing significant, and rising competition for our traditional, STEM-focused undergraduate
students. For Fall 2016 and Fall 2017, we have had to admit a higher percentage of undergraduate
students in order to achieve our incoming class. At the graduate level, we have seen enrollment
declines over the past several years. These declines are most pronounced at the master’s degree level.
Over the past decade, however, Masters enrollment nationally has increased by over 30%. With our
STEM specialization, we should be keeping pace with if not out-performing the higher education market
in attracting and retaining these students. We are not. Below is a chart reflecting national growth
(prepared by ASEE) in M.S. compared to Mines growth.
140,000
900
Part-Time
Full-Time

120,000
ams
Mines
800
ams
ogrPr
ogr
100,000
S
Pr
M
S
in
700

M
80,000
d
in d
oller
edt
60,000
olle
En
r
600
#
En

#
al

40,000
n
es
io
in
500
at
M
N
20,000
Yet Repor
Not
0
400
06
07
08
09
10
11
12
13
14
15
16
17
20
20
20
20
20
20
20
20
20
20
20
20

With the downturn in the energy and commodities market, we have experienced a softening in our
support from private industry; continuing education, research projects, and philanthropic support.
While this year we are seeing research awards from the federal government rise, that future funding is
uncertain. We have as a consequence of these changes seen significant changes in the diversity of the
sources of external support for our research endeavors. Five years ago as much as 50% of our external
research support was derived from our private industry collaborators. Today that percentage of support
has dropped to 25%, leaving our research enterprise more-and-more dependent on highly uncertain
federal funding.

At the state level, clouds are also forming on the horizon. For the past few years, state revenue for
higher education has been relatively stable, and in fact we have experienced slight increases in state
Colorado School of Mines
Board of Trustees
May 5, 2017


support. The state however is projecting a $124 million statewide loss this fiscal year and a possible
loss next year. While the 2018 state budget that was passed by the Joint Budget Committee is more
optimistic, we are watchful to upcoming forecasts and the resultant action for higher education
funding.

But even with rising competition and the uncertainties in our environment, given our reputation, strong
outcomes and distinction, we are well poised to strengthen our business model through enhancing and
augmenting our core mission. Through innovations, unique student experiences, distinct academic
programs, operational excellence, and expansion of course delivery modes, we can advance Mines’
mission while creating long term financial sustainability. Many of these initiatives are underway and
will continue in fiscal year 2018 and beyond. Some are reflected below:

 Innovation: pedagogical redesign/enhancement through the Trefny Institute for Innovation; the
new center for Entrepreneurship and Innovation;
 Unique Student Experiences: Freshmen orientation Oredigger Camp; planning the next phase of
the housing master plan; creation of a professional development program;
 Distinct Academic and Research Programs: the new Engineering, Design, and Society Division;
the new BSE degree; new certificate programs for Computer Science, Civil and Environmental
Engineering, Electrical Engineering, Mechanical Engineering, Space Systems, Sustainable Energy
Systems, and Additive Manufacturing; development of the theme based institutes; focus on
undergraduate research; strengthening the first year honors program;
 Operational Excellence: business process re-engineering; technology enhancements; energy
management; enhancing an engaged campus; and
 Expansion of course delivery modes: developing on-line delivery models.
Paying attention to where we have been, we look forward to Mines strengths and opportunities to
become a stronger, more vital university.


Fiscal Year 2018 Budget


Even with many opportunities and initiatives in front of us, for this years’ budget, we are including a
larger amount of cushion than we have in years past. A fair number of our new initiatives are just in the
development phase. This along with the uncertainties in our current revenue structure; enrollment
(particularly non-resident, both US and international), federal and state funding, and private support
we felt it prudent to hedge against any needed mid-course correction.
We narrowed our budget process this year and focused on strategic initiatives that included revenue
growth, program distinction and operational excellence. We also have put many initiatives in place that
are projected to grow revenue and/or mitigate growth in expenses: incentives for Summer and
Graduate enrollment growth; a new retirement plan; flexibility in the use of our state fee for service
funds; position (personnel) management; deep dives in expense categories; energy savings; etc.

The budget is prepared and outlined below in three core categories;

1. Operating – funds that can be spent on any purpose for the university - the main budget;
Colorado School of Mines
Board of Trustees
May 5, 2017


2. Designated - funds that can only get spent on certain purposes; primarily student fees and
faculty start up; and
3. Restricted – funds that can only be spent for the required purpose; primarily sponsored
research and gifts.
Comprising all funds noted above, total revenue is budgeted to be $312.10 million and expenses of
$303.27 million with $2.49 in reserve set asides to net $6.35 million.

Operating
Revenue projections:
Operating revenue is budgeted to increase 4.4% or $8.15 million for a total of $195.09 million.

We are projecting undergraduate enrollment to be up slightly, which includes a planned increase in
freshman enrollment of 100 new students. Consistent with our graduate enrollment trend, we are
projecting a decline in graduate enrollment (we anticipate many of our growth initiatives and incentives
to have impact starting in fiscal year 2019). Tuition is budgeted to increase $5.9 million resulting in a
total of $135.30 million.

The tuition rate increase proposed for this year is 3% for resident students and 3.5% for non-resident
students. This year, we performed a tuition elasticity study (last performed in 2010). Through this
study, we received confirmation that assuming no change in discount policy, it is predicted that our
application and enrollment interest would remain stable, if not increase slightly, at a 3% increase in
tuition.

Housing and dining revenue is budgeted to be up 3% to 5% or $420,000 consisting of slight increases in
housing and board rates. Also included is housing for an additional 100 freshman. Our housing and
board rates are comparable to the other universities in the state, especially in the front range.

State funding is budgeted to be up 4.2% or $850,000 for a total of $21 million. Research funding
including the indirect cost recovery derived from research spending is planned to be flat.

All other revenue streams are projected to remain flat with the exception of a new relationship with
Nazarbayev University. This three year contract will bring in $5.6 million to the university; much of
which will pay for the specified deliverables, but a portion of the funding will be allocated to the
unrestricted resources of Mines.

Expense projections:
Operating expenses are projected to increase 3.8% or $7.05 million from the ongoing budget for a total
of $190.84 million. Labor (salaries and benefits) and student support (undergraduate financial aid and
graduate support) are the largest two expense items and contain the largest increases.

Labor includes a 2.5% salary increase for all employees (the classified increase is mandated by the
state). We are projecting a 1.5% increase to our faculty employee benefits and 0.4% increase to our
classified employee benefits. Total labor is projected to be $102.5 million. To account for the natural
churn of our employee base, we have traditionally budgeted a $3 million salary savings. This year, we
are increasing that amount to $4 million as our actual salary savings over the past five years has been
near $8 million each year.
Colorado School of Mines
Board of Trustees
May 5, 2017



We are projecting no new FTEs in this budget year. Over the past five years, we have added over 20
new faculty and staff each year in order to support students, our facilities and our operations. From
2010 to today, our academic and research headcount increased 28% and our administrative headcount
increased 25% during the same time, enrollment increased 21%.

Student to faculty ratio remains a little under 18:1 and student to administrator ratio remains a little
over 10:1. The student to faculty ratio is comparable to our peers and the student to administrator ratio
is higher than our peers demonstrating that we are administratively leaner than our peers.

We are in the process of a Total Compensation Assessment. This assessment is analyzing our faculty
(academic and administrative) salaries and benefits and the relative alignment (or miss-alignment) with
the market. Through this assessment we will develop our total compensation strategy which will set
the framework for compensation decisions. The results of this assessment will likely yield a financial
impact but it is too soon to determine.

Student support, both undergraduate financial aid and graduate support, is projected to increase $3
million totaling $35.7 million. The increase is primarily for undergraduate financial aid that is provided
to incoming and continuing students. With this increase, our total institutional support to
undergraduate students will be $24 million which represents an 18% average discount rate; 14% for
resident students and 24% for non-resident students. Our financial aid strategy has remained relatively
consistent since 2010.

Other expense increases include:

 Increase to operate CoorsTek and the new Heating Plant which are coming on-line this year.
The Heating Plant has some one time, year one costs but beginning in year two, the operations
of the Plant (versus purchased steam from MillerCoors) will provide financial savings annually;
 Increase to support the CSM Alumni Association;
 Required increases to Information Technology licenses and maintenance; and
 Increase to funds provided to new faculty in order for them to start up their laboratories.
Reserves:
This year we are setting aside $2 million in reserves for an enrollment reserve as well as operating
reserve. This is a slight reduction in reserve set asides from prior years.

From the Innovation reserve fund, we are providing $300,000 of seed funding for initiatives that are
focused on enrollment growth primarily for certificate programs with several of those being delivered
on-line.

Designated
These funds primarily represent the revenue and use of student fees as well as the allocation and use of
faculty startup funds. Revenue is budgeted at $29.92 million and expenses are budgeted at $26.96
million.

Restricted
Represents sponsored research funds as well as distributions from and use of the endowment and
current gifts. Revenue is budgeted at $87.09 million and expenses are budgeted at $85.47 million.
Colorado School of Mines
Board of Trustees
May 5, 2017



The attached PowerPoint provides further detail and information regarding the fiscal year 2018 budget.

Resolution

The Board of Trustees reviewed the proposed budget for the academic year 2017 – 2018 and
approves the Fiscal Year 2018 Budget consisting of:

 Total revenue of $312.10 million
 Total expenses of $303.27 million
 Total addition of reserves of $2.54 million
 3.0% increase for resident undergraduate and graduate rates;
 3.5% increase for non-resident undergraduate and graduate rates;
 Increase in Housing of and Room and Board charges; and
 Increases in fees and charges, two new lab fees and a freshmen orientation fee.

Colorado School of Mines
Board of Trustees
May 5, 2017


FISCAL YEAR 2018 BUDGET
BOARD OF TRUSTEES MEETING
MAY 5, 2017

2
FY2018 BUDGET CONSIDERATIONS
Pressure on Revenue
 Tuition
 State
 Sponsored/Philanthropic
 Other
Focus to Manage Costs
Narrowed Budget Process Focused on Strategic Initiatives
 Revenue Growth
 Program Distinction
 Operational Excellence
Financial Aid and Personnel Highest Cost Increases

3
All Funds Revenue
Challenges to growth
Opportunities for growth
Stream
Tuition and Fees
• Tuition rate at market capacity
• Grow enrollment
• Enrollment variability
• Freshman +100
• Undergraduate non-resident
• Graduate – incentives in place
• Graduate trend
• Change statutory R/NR mix
State Support
• Potential cuts due to state budget
challenges
Housing and Dining
• Housing margin tight
• Develop plan to increase housing rates
• Competitive housing options
Research
• Uncertainty in federal funding
• Diversification
• Decline in private funding
• Focus on private industry
• Create Institutes
• Continue to hire productive/leading
faculty
Gifts
• Decline due to energy market
• Upcoming campaign
• Low return environment
• Diversification
Other Revenue
• Minimal
• Expansion of continuing education
• International relationships (i.e. NU)

4
All Funds
Challenges to cost structure
Opportunities to manage costs
Expense category
Personnel
• Classified mandate from State
• New retirement plan
(salaries and benefits)
• Pressure from academic faculty
• Position abolishments
• History of paying 100% health/dental
• Hiring freezes
benefits to faculty
• Compensation assessment
UG Financial Aid and
• Discount rate is low for an elite university
• HB17-1140 flexibility
GR Support
Debt
• Highly leveraged
• Low rate environment (as of now)
• Rating stability
• Achievement of plan will necessitate
capital investment (debt)
Operating Expenses
• Minimal base changes in past decade
• Opt out of State Risk Management
• Across the board cuts
Operations and
• Costs of new facilities
• Continual cost management; energy and
Maintenance
operations
Information Technology
• Enhancements in innovations
• Process streamlining
Renovation and
• Aging facilities
• Cut costs
Maintenance
CSMF Funding
• Pressure on CSMF budget
Library
• Pressure to provide more funding

5
Advancing Mines.....Taking us to the next level
Where are we going?
How do we get there?
What will we look like?
Undergraduate Programs:

Create unique-to-Mines signature experience
8,000
7,639

Increase graduation rates and decrease time-to-
334
graduation
Ph.D, 900
7,000

Expand program offerings and pathways to
961
completion
5,876

Strengthen emphasis on professional
6,000
preparation
M.S., 1,705
Ph.D, 566
123
151
194

Services/experiences have to be like Elite
universities
5,000
M.S., 744
Non-thesis Masters & Non-Degree
Programs:
4,000

Growth

Need non-traditional delivery (times & method)
3,000
for convenience
B.S.,
B.S., 5,034
4,566
Research-based Masters & Doctoral
2,000
Programs:

Create signature graduate experience and
1,000
professional preparation

Grow/expand research enterprise

Offer unique program options
-
Current
Freshmen
Transfers
Continuing
Masters*
PhD
Planned
Innovation
Enrollment
Undergraduate
Enrollment
throughout
FY2018 FY2022
TM by PCJ
Operational Excellence in everything we do
*Primarily non thesis off campus

6
Revenue

7
Budget – All Funds Budget 2018 - Proposed
Unrestricted
in millions
Operating
Designated
Restricted
Total
Revenue
$
195.09 $ 29.92 $ 87.09 $ 312.10
Expense
190.84
26.96
85.47
303.27
Net Activity
$ 4.26 $ 2.96 $ 1.69 $ 8.84
before Reserves
Addition to
2.61
0.00
(0.11)
2.49
Reserves
Net Activity
$ 1.65
$ 2.96
$ 1.74
$ 6.35

8
All Funds Budget Proposal
Tuition & Fees
Research
Gifts
State Support
Auxiliaries
Other
$3.97
Restricted, $87.09
Unrestricted, $195.09
$21.48
$1.40
$11.86
Total Revenue
$312.10
$0.08
Designated, $29.92
$23.53
$135.30
$3.47
$63.48
$2.52
$18.14
$0.57
U N R E S T R I C T E D
D E S I G N A T E D
R E S T R I C T E D

9
All Funds
Unrestricted
Designated
Restricted
Total Funds
e
FY17 Base
inL
Budget
FY18 Budget
FY17 Forecast
FY18 Budget
FY17 Forecast
FY18 Budget
FY17 Forecast
FY18 Budget
REVENUES
Tuition and Fees
1
Undergraduate Resident
4
1.86
4
3.91
4
1.86
4
3.91
2
Undergraduate Resident COF
6
.19
6
.32
6
.19
6
.32
3
Undergraduate NonResident
6
2.42
6
6.38
6
2.42
6
6.38
4
Graduate Resident
8
.95
8
.86
8
.95
8
.86
5
Graduate NonResident
1
6.16
1
6.16
1
6.16
1
6.16
6
Continuing Education
1
.37
1
.28
1
.37
1
.28
7
Fees
-

1
6.59
1
8.14
1
6.59
1
8.14
8
Subtotal-Tuition and Fees
1
36.97
1
42.90
1
6.59
1
8.14
-

-
1
53.55
1
61.04
Grants and Contracts
9
Federal
-

4
0.67
4
0.67
4
0.67
4
0.67
10 Private
-

0
.57
0
.57
1
7.83
1
7.83
1
8.40
1
8.40
11 State
-

4
.99
4
.98
4
.99
4
.98
12 Indirect Cost Recoveries
1
1.89
1
1.86
-

-

1
1.89
1
1.86
13 Subtotal-Grants and Contracts
1
1.89
1
1.86
0
.57
0
.57
6
3.49
6
3.48
7
5.95
7
5.90
14 Investment Income
0
.95
0
.95
0
.05
0
.05
0
.02
0
.02
1
.02
1
.02
Other Income
15 Fee For Service / State Support
1
4.44
1
5.16
2
.24
2
.52
1
6.69
1
7.68
16 Auxiliaries
1
8.88
1
9.80
5
.22
5
.22
2
4.10
2
5.02
17 Other
2
.42
3
.02
2
.31
3
.43
0
.06
0
.06
4
.79
6
.51
18 Gift Revenue from the Mines Fund
1
.40
1
.40
-

-

2
3.53
2
3.53
2
4.93
2
4.93
19 One-time savings from prior year
-

-

-

-

-

-

Subtotal-Other Income
3
7.14
3
9.38
9
.77
1
1.16
2
3.59
2
3.59
7
0.50
7
4.14
TOTAL REVENUES
1
86.95
1
95.09
2
6.97
2
9.92
8
7.11
8
7.09
3
01.02
3
12.10
EXPENDITURES
20 Instruction
6
7.24
6
8.52
0
.82
0
.80
7
.93
7
.97
7
5.99
7
7.29
21 Research
4
.87
4
.58
0
.45
1
.92
5
8.88
5
8.90
6
4.20
6
5.41
22 Public Service
-

0
.14
0
.14
0
.54
0
.22
0
.68
0
.36
23 Academic Support
1
9.12
2
0.27
1
.72
0
.99
1
.42
1
.43
2
2.25
2
2.68
24 Student Services
6
.36
6
.68
0
.57
0
.57
1
.10
1
.10
8
.03
8
.34
25 Institutional Support
2
3.03
2
4.02
0
.27
0
.28
0
.57
0
.57
2
3.87
2
4.86
28 Operation & Maintenance of Plant
1
9.17
2
0.00
1
.22
1
.21
3
.90
4
.38
2
4.29
2
5.59
29 Scholarships & Fellowships
2
1.00
2
3.98
-

-

1
0.90
1
0.90
3
1.90
3
4.89
30 Auxiliaries
1
9.47
1
9.56
2
0.33
2
1.06
3
9.80
4
0.62
31 Capital Ren and Cont Main
3
.53
3
.23
-

-

3
.53
3
.23
-

-

32 TOTAL EXPENDITURES
1
83.78
1
90.84
2
5.50
2
6.96
8
5.25
8
5.47
2
94.53
3
03.27
33 NET BEFORE TRANSFERS
3
.16
4
.26
1
.47
2
.96
1
.86
1
.62
6
.49
8
.84
34 Operating Transfers
-

-

-

0
.33
(0
.11)
0
.33
(0
.11)
35 Capital Renewal and Replacement
1
.00
1
.00
-

36 Operating Reserve
1
.00
1
.60
-

-

1
.00
1
.60
37 Innovation Reserve
0
.80
1
.00
0
.80
1
.00
38 Debt Retirement Reserves
-

-

-

39 CO Scholars Reserve
0
.15
-

0
.15
-

40 Roll forward for one-time
-

-

-

-

-

41 NET ACTIVITY
0
.21
1
.65
1
.47
2
.96
1
.53
1
.74
3
.21
6
.35

10
Unrestricted Revenue
300.00
250.00
200.00
150.00
100.00
50.00
0.00
2013
2014
2015
2016
FY17 Forecast
FY18 Projection
FY19 Projection
FY20 Projection
FY21 Projection
FY22 Projection
Auxiliary
18.02
18.76
20.66
20.31
21.10
21.07
22.53
24.92
32.10
39.64
State Support
16.08
16.81
18.67
20.55
20.64
21.48
20.73
20.01
19.32
18.67
Gifts
1.91
2.02
2.24
1.67
1.40
1.40
1.40
1.40
1.40
1.40
Grants & Contracts
11.31
11.51
11.68
11.97
11.89
11.86
11.86
11.86
11.86
11.86
Other *
3.47
6.74
4.24
4.41
4.26
3.97
4.68
9.45
9.45
9.45
Tuition
98.39
107.10
116.71
122.80
129.40
135.30
142.58
153.53
168.57
182.45
* Other income increase $4.8M in FY20 for USGS new building rent

11
FY 2017 Ongoing
Unrestricted
in millions
Budget
FY 2018 Changes
FY 2018 Budget
Revenues
Tuition
$129.40
$5.91
$135.30
State Funding
20.64
0.85
21.48
Indirect Cost Recovery
11.89
(0.03)
11.86
Auxiliary Revenue
20.25
0.82
21.07
Other Revenue
4.77
0.60
5.37
Total Revenues
186.95
$8.15 195.09
Expenditures
Labor - Salaries and Benefits
99.83
3.37
103.20
Adjunct
1.29
0.00 1
.29
Salary Savings
(3.00) (1.00) ( 4.00)
New Faculty Startup
5.90
0.32 6
.22
Undergraduate Financial Aid
21.00
2.99 2
3.98
Graduate Support
11.72
0.02 1
1.75
Other Operating
9.07
0.79 9
.86
Debt
9.28
(0.01) 9
.27
Operations and Maintenance of Plant
7.19
0.32 7
.51
Housing and Dining Operating
8.02
(0.01) 8
.01
Information Technology Operating
3.20
0.25 3
.45
Capital Renovation and Controlled Maintenance
3.53
(0.30) 3
.23
Indirect Cost Return Distribution
2.87 - 2
.87
CSMF Development Fee and CSMAA support
2.01 0.18 2
.19
Library
1.87
0.14 2
.01
Total Expenditures
183.78
7.05
190.84
Reserve Additions
2.95
(0.35) 2
.60
Capital Reserve
1.00
(1.00) -
Operating Reserve
1.00 0.60 1.60
Innovation Reserve
0.80
(0.80) -
SB003 Reserve
0.15
(0.15) -
Enrollment Reserve
0.00
1.00 1.00
Net Operating Activity
$0.21
$1.44
$1.65

12
Tuition Revenue – Tuition Elasticity Study
 Overall, enrollment interest should remain stable at a 3% increase in tuition
This budget proposes a 3% rate increase for resident students and 3.5% increase for non-resident students
 Student Expectations are changing
 90% believe the will/should receive a merit scholarship
 50% believe they will receive need based aid
 40% anticipate obtaining a student loan
 Mines has established a well known reputation for excellence in engineering
 Prospective students are drawn to the successful outcomes including job placement and practical experience
opportunities
 There is an opportunity to enhance the perceptions of an active student life with many opportunities to get involved
 Opportunities to expand interest if students are made aware of existing programs and facilities:
 Challenging honors program
 New/updated residence halls
 The fact that Mines has the largest chapter of the Society for Women Engineers (for female students)
 Opportunities to create programs where students show interest (many from First Generation or
underrepresented populations):
 Innovation and Entrepreneurship minor
 Humanitarian Engineering major
 Biology major

13
MANDATORY FEES
Fee
2018-19 and
2012-13
2013-14
2014-15
2015-16
2016-17
2017-18 *
Beyond
Academic Construction
275.00
275.00
275.00
275.00
275.00
275.00
Needs Addressing
Associated Students
94.10
94.10
100.00
100.00
101.17
68.38
TBD
Athletics
57.00
58.09
59.69
59.69
60.39
77.00
Needs Addressing
Health Services
86.00
87.63
90.00
90.00
95.22
110.22
TBD
Intermodal
48.50
48.50
48.50
48.50
48.50
49.00
TBD
Recreation Center
152.00
154.89
159.14
159.14
161.01
193.80
TBD
Student Services
259.50
264.43
271.70
271.70
274.69
274.69
TBD
Technology
60.00
60.00
60.00
60.00
60.00
60.00
Needs Addressing
Semester Total
1,032.10
1,042.64
1,064.03
1,064.03
1,075.98
1,108.09
% Change
10.44%
1.02%
2.05%
0.00%
1.12%
2.98%
Student Health Plan (annual)+
1,534.00
1,596.00
1,888.00
1,600.00
1,740.00
1,990.00
TBD
*Proposed
FY 2007-08 to FY 2017-18 the total compound annual growth rate (CAGR) is 5.07% including the academic construction fee and 3.14% without.
+Mines student participation in the Student Health Plan is 1,635 students or 28%.

14
Tuition Revenue – Cost of Attendance
New Student Fees in FY18:

Introduction to Brewing Science Course Fee
$70: The fee will help offset the expenses of
the laboratory portion of this course where
students malt their own grain, brew beer, and
analyze the final product. Students will be
positively impacted through the ability to apply
brewing, malting and analyzation skills in real
time.

Microcomputer Architecture and Interfacing
Course Fee $100: The fee will fund the
purchase of a custom designed printed circuit
board, electronic parts for that board, and a
collection of tools for each student enrolled in
the course. Students will be positively
impacted through the ability to develop their
own printed circuit board and the exposure to
up-to-date technologies and fabrication
techniques.

Oredigger Camp Fee $75: The fee will go
towards the new orientation program being
offered this summer that is geared towards
engaging incoming freshmen through
leadership, engineering, and adventure
workshops at an offsite location.

15
Tuition Revenue – Cost of Attendance Peer Comparison
Total Cost of Attendance
Stanford
Georgia Tech
RPI
WPI
Lehigh
Carnegie-
CSU - Eng.
CU Boulder -
FY18
FY18
FY18
Cal-Berk FY18
FY18
FY18
Mellon FY18
FY18
Eng. FY18*
Mines FY18
Resident on Campus
$ 6
9,109 $ 2
8,096 $ 7
0,132 $ 3
4,400 $ 6
5,046 $ 6
4,580 $ 7
0,094 $ 3
0,030 $ 3
1,199 $ 3
3,638
Non Resident on Campus $ 6
9,109 $ 4
8,894 $ 7
0,132 $ 6
2,414 $ 6
4,046 $ 6
4,580 $ 7
0,094 $ 4
8,238 $ 5
4,929 $ 5
2,688
*As presented to the CU Board of Regents. Official 2017-2018 rates will be published on May 1, 2017.
Tuition
Stanford
Georgia Tech
RPI
WPI
Lehigh
Carnegie-
CSU - Eng.
CU Boulder -
FY18
FY18
FY18
Cal-Berk FY18
FY18
FY18
Mellon FY18
FY18
Eng. FY18*
Mines FY18
Resident (15 hours)
$ 4
8,987 $ 1
0,106 $ 5
1,000 $ 1
4,068 $ 4
7,988 $ 5
0,840 $ 5
2,732 $ 1
4,362 $ 1
3,560 $ 1
6,161
Non Resident (15 hours)
$ 4
8,987 $ 3
0,904 $ 5
1,000 $ 4
2,082 $ 4
7,988 $ 5
0,840 $ 5
2,732 $ 3
1,870 $ 3
7,290 $ 3
5,211
note: CU Non Resident has set tuition rates dependent first semester enrolled. Showing rate for Summer 2017-Spring 2018.
*As presented to the CU Board of Regents. Official 2017-2018 rates will be published on May 1, 2017.

16
Total Enrollment

17
Total Undergraduate Enrollment

18
Undergraduate Enrollment by Residency
Resident
Non-Resident

19
Admit and Yield Rates (and compared to peers)
Peer Institutions*
Fall 2012
Fall 2013
Fall 2014
Fall 2015
Total
Admit
Yield
Total
Admit
Yield
Total
Admit
Yield
Total
Admit
Yield
Applications
Rate
Rate
Applications
Rate
Rate
Applications
Rate
Rate
Applications
Rate
Rate
Carnegie Mellon University
1
7,313
27.8%
29.3%
1
8,884
25.5%
30.0%
1
9,812
24.6%
30.2%
2
0,547
23.7%
32.3%
Colorado State University-Fort Collins
1
7,929
74.7%
34.2%
1
7,970
77.4%
31.9%
1
6,655
80.5%
32.5%
1
8,556
80.8%
31.6%
Georgia Institute of Technology-Main Campus
1
4,088
51.2%
37.4%
1
4,645
54.9%
37.8%
2
5,884
33.4%
32.5%
2
7,277
32.2%
35.2%
Lehigh University
1
1,529
32.6%
32.4%
1
2,589
30.8%
30.9%
1
1,512
34.3%
32.9%
1
2,843
30.4%
32.3%
Rensselaer Polytechnic Institute
1
5,222
43.6%
20.0%
1
6,150
41.2%
21.2%
1
8,602
37.5%
19.1%
1
7,752
41.9%
18.6%
Stanford University
3
6,632
6.6%
72.8%
3
8,828
5.7%
76.0%
4
2,167
5.1%
78.2%
4
2,497
5.0%
80.4%
University of California-Berkeley
5
2,982
21.6%
38.8%
6
1,717
18.0%
37.5%
7
3,782
16.0%
46.3%
7
8,893
16.9%
41.7%
University of Colorado Boulder
2
1,744
83.6%
30.1%
2
2,473
87.7%
29.7%
2
8,852
84.2%
24.2%
3
1,325
79.6%
24.9%
Worcester Polytechnic Institute
7
,585
52.6%
23.9% 8
,578
51.6%
24.9%
1
0,233
43.8%
23.6%
1
0,172
48.5%
22.1%
Colorado School of Mines
12,517
36.6%
23.3%
13,060
35.9%
23.4%
13,197
35.9%
24.5%
12,422
37.1%
24.6%
Fall 2016
Fall 2017
Total
Admit
Yield
Total
Admit
Yield
Applications
Rate
Rate
Applications
Rate
Rate
Colorado School of Mines
12,814
40.7%
21.6%
11,085
55.9%
19.8%
* Source = IPEDS

20
Graduate Enrollment
*
*
*Assumes commensurate research growth

21
Graduate Enrollment by Residency
Resident
Non-Resident
*

22
International Enrollment

23
State Funding
 FY17 State deficit of $124M
 JBC balanced the budget by lowering required reserve
 FY18 State Revenue did not meet required spending thus putting the
State budget in a hole
 JBC adopted the more optimistic financial outlook +$143M to balance the
budget
 FY18 Statewide $20M increase for Higher Ed
 Mines = 4.2% or $850,000
 In jeopardy of mid-year correction

24
Expenses

25
All Funds Budget Proposal
$3.23
$19.56
$10.90
$0.57
$1.10
$4.38
$23.98
$0.22
Capital
Restricted, $85.47
$1.43
$20.00
Auxiliaries
Scholarships & Fellowships
$21.06
Total Expenses
$24.02
O & M of Plant
$303.27
$6.68
Institutional Support
Unrestricted, $190.84
$20.27
$58.90
Student Services
Academic Support
Designated, $26.96
$4.58
Public Service
Research
$68.52
$1.21
$0.57
$0.28
Instruction
$0.99
$0.14
$1.92
$7.97
Unrestricted
Designated
Restricted
$0.80
U N R E S T R I C T E D
D E S I G N A T E D
R E S T R I C T E D

26
Unrestricted Expense
Labor
O&M
Other
Financial Aid
Grad Support
Debt
Housing & Dining
IT
250.00
200.00
150.00
100.00
50.00
0.00
2013
2014
2015
2016
FY17 Forecast
FY18 Projection
IT
2.22
2.17
2.50
2.55
3.40
3.45
Housing & Dining
4.88
5.05
5.82
6.27
6.10
6.25
Debt
7.10
7.54
7.46
8.80
8.41
9.27
Grad Support
9.68
10.58
12.29
11.57
11.56
11.75
Financial Aid
14.10
15.98
16.36
18.96
21.00
23.98
Other
21.44
17.43
16.16
20.25
20.98
21.91
O&M
7.08
7.39
7.29
7.05
7.19
7.51
Labor
75.89
81.70
89.61
93.74
101.49
106.71

27
Expenses as a % of Total (and compared to peers)
Peer Private*
Peer Public*
Change from FY10
2014-15
Mines
Average
Median
Average
Median
Percent
Dollar
Instruction
38.5%
+1.7%
+ $30.94
34.9%
34.9%
32.5%
31.5%
Research
24.5%
-19.4%
+ $9.56
22.6%
20.3%
32.2%
25.0%
Academic
9.9%
+26.2%
+ $10.98
8.4%
7.1%
7.3%
9.2%
Support
Student Services
3.8%
+29.2%
+ $4.36
7.9%
8.6%
6.3%
6.4%
Institutional
9.5%
+15.8%
+ $9.50
14.9%
13.9%
10.1%
9.1%
Support
Auxiliary
13.5%
+6.2%
+ $11.76
11.2%
11.3%
9.8%
7.1%
Enterprises
* Source = IPEDS

28
Faculty and Administration Headcount
700
Enrollment - From 2010
21%
600
28%
25%
500
400
300
200
100
0
Spring
Spring
Spring
Spring
Spring
Spring
Spring
Spring
2010
2011
2012
2013
2014
2015
2016
2017
Faculty
Administration
New administration staff includes but
Tenure/Tenure Track
Administrative
*UR/GR Enrollment
is not limited to:
Teaching
Classified
Colleges – 12
CASA – 8
Research
Other
CGS – 16
Compliance – 4
Adjunct
ORA – 4
Buildings - 22
Other

29
Labor
Position Salaries
Faculty Start Up
Student Hourly
Adjunct
Professional Services
120.00
100.00
80.00
60.00
40.00
20.00
0.00
2013
2014
2015
2016
FY17 Forecast
FY18 Projection
Professional Services
0.33
0.62
0.81
0.72
1.22
1.47
Adjunct
2.58
2.74
2.11
2.21
1.94
1.94
Student Hourly
1.26
1.64
1.82
2.02
1.91
1.91
Faculty Start Up
2.99
3.01
5.12
4.92
4.60
6.22
Position Salaries
68.74
73.68
79.75
83.86
91.83
95.17
10.00
5.00
-
2018
2019
2020
2021
2022
2013
2014
2015
2016
2017 Forecast
Projection
Projection
Projection
Projection
Projection
Salary Savings
5.43
8.60
7.95
8.66
7.91
7.50
7.18
7.07
6.75
6.53

30
Health Benefits
50.00
45.00
40.00
35.00
30.00
25.00
20.00
Health Insurance – Peers*
15.00
Employer Coverage
10.00
Mines
100% coverage; emplyee + family
Offers a plan for 100% coverage for full-time
5.00
Stanford
(employee only)
CSU - Eng. Offers a plan for 100% coverage (employee only)
0.00
2013
2014
2015
2016
FY17 Forecast
FY18 Projection
Cal-
Offers a plan for 100% coverage (employee, emp
Vac/SL Payout
0.46
0.56
0.73
0.59
0.58
0.47
Berkeley
+ children, emp + adult, family)
MDCP**
0.00
0.00
0.00
0.00
0.21
1.81
Georgia
PERA
10.74
12.07
13.66
15.07
16.85
15.33
Tech
Offers a plan for 90.7% coverage
Insurance
12.20
13.15
14.74
15.52
16.06
16.90
78% coverage for full-time at $50k or less
RPI
**Mines Defined Contribution Plan
Insurance
PERA
MDCP**
Vac/SL Payout
75% coverage for full-time at $50k or more
* Source = respective peers websites

31
Undergraduate Financial Aid and Graduate TA Labor
35.00
30.00
25.00
On average, how is Undergraduate tuition paid?
Institutional grants and
20.00
scholarships - 18%
CSMF scholarships - 4.9%
15.00
Federal grants - 3.5%
10.00
State grants - 1.63%
5.00
Federal Loans = 14.4%
Outside scholarships - 2.8%
Private and PLUS Loans = 20.8%
Direct Pay, 529 Plans, VA, etc. = 33.9%
-
Loans and Direct Pay - 69.1%
2017
2013
2014
2015
2016
2018 Proj
Forecast
Grad TA Tuition
7.08
7.91
9.33
8.67
7.52
7.54
Grad TA Salary
2.60
2.68
2.96
2.90
2.48
2.48
Fin Aid Oper Exp
14.03
16.04
16.36
18.96
21.00
23.17

32
Reserves

33
Unrestricted Net Assets Excluding Pension Liabilities
Designated
Undesignated
Student Fee/
Total Unrestricted
Faculty Start up
Petroleum Institute Colorado Scholars
Health Insurance
Other
Beginning Balance at July 1, 2016
42,639,704 19,446,965 13,560,282 6,996,405 6,806,486 26,606,884 116,056,726
Additions
1
0,823,426
5
,900,000 7
40,809 3
75,082
3
,424,863
Reductions
( 32,819,323) ( 8,500,000)
( 3,036,804)
Ending Balance June 30, 2017
20,643,807 16,846,965 14,301,091 7,371,487 6,806,486 26,994,943 92,964,779
Additions
2
,000,000
6
,219,096
5
97,581
Reductions
(
9,430,000) ( 8,500,000)
Ending Balance June 30, 2018
13,213,807 14,566,061 14,301,091 7,371,487 6,806,486 27,592,524 83,851,456
Additions
2
,800,000
6
,219,096
Reductions
-
( 8,500,000)
Ending Balance June 30, 2019
16,013,807 12,285,157 14,301,091 7,371,487 6,806,486 27,592,524 84,370,552
Additions
2
,800,000
6
,219,096
Reductions
(
1,200,000) ( 8,500,000)
Ending Balance June 30, 2020
17,613,807 10,004,253 14,301,091 7,371,487 6,806,486 27,592,524 83,689,648
Additions
2
,800,000
6
,219,096
Reductions
-
( 8,500,000)
Ending Balance June 30, 2021
20,413,807 7,723,349 14,301,091 7,371,487 6,806,486 27,592,524 84,208,744
Undesignated uses FY2017:
Undesignated uses FY2018:
Undesignated uses FY2020:
CoorsTek - $17,825,945
CoorsTek - $459,777
Potential Real Estate adjacent to
Boiler Plant - $6,889,665
Green Center Roof - $8,500,000
campus - $1,200,000
1600 Jackson Street - $4,930,000
Campus Switch Gear - $470,000
Strategic Initiatives - $368,944
Rollfoward for FY17 operating - $947,150
Other - $1,857,619

34
CSM Foundation Budget

35
CSM Foundation – Preliminary FY18 Unrestricted Budget

36
Advancement Investment & Performance Benchmarking (provided by CSMF)