CMC trustees hold first hearing on 2021-22 budget
Balanced $76.4 million budget includes expected 3.24% increase in revenues
On May 18 the Colorado Mountain College Board of Trustees held its first hearing on the fiscal year (FY) 2021-22 budget for the college. The meeting was held at CMC Steamboat Springs in accordance with state and local public health orders.
Staff presented a balanced, projected budget of $76.4 million, with an expected 3.24% increase in revenues compared to the current year. The budget includes a 3% cost-of-living increase for employees, aligned with the anticipated rate of inflation.
A summary presentation of the budget will be made in June. At its June meeting, CMC trustees will be asked to formally adopt and appropriate funds for the FY 2021-22 budget. The draft budget is available at ColoradoMtn.edu.
CMC Salida renews lease
The CMC Board of Trustees provided initial review of a long-term lease with the Salida School District for use of its Kesner Building by the CMC Salida campus. The college has occupied a small portion of the Kesner Building through a short-term lease for several years.
The building consists of approximately 12,960 square feet and is directly adjacent to the high school. The proposed lease term is August 1, 2021 through July 31, 2024 with three additional one-year renewal options.
In November 2019, the Salida and Poncha Springs communities voted to bring higher education to Salida. CMC has been ramping up educational offerings there ever since and graduated the first class of students from the Salida campus in May.
The CMC Board of Trustees also:
- Approved a debt authorization resolution for future student housing projects
- Approved the FY 2021-22 budget for board operations
- Accepted third quarter financials for FY 2020-21
- Completed its annual performance review of the president, which resulted in a recommendation to extend Dr. Carrie Besnette Hauser’s employment contract through the 2024-25 fiscal year
