State revenue forecast better than expected

University leaders now await unveiling of potential budget for next fiscal year

By Jay Dedrick

A better-than-expected state revenue forecast could mean no further cuts to state funding for the University of Colorado and other higher education institutions for the current fiscal year, according to Tanya Kelly-Bowry, the university's vice president for state and federal government relations.

The budget picture for next year should begin to come into sharper focus now that the Joint Budget Committee of the Legislature has begun work on the annual appropriations bill, the main legislation that determines the state budget. After closing the budget today, the Long Bill will be drafted Thursday, then advance to the Senate on Monday, March 28. The House should see it the following week.

The committee has voted to approve the funding formula that CU and other institutions agreed to with the Department of Higher Education, a suggested division of the $519 million budget proposed by Gov. John Hickenlooper.

The government relations team continues to monitor bills with potential ramifications for the university, including Senate Bill 11-052, a proposal – co-sponsored by Sen. Rollie Heath, D-Boulder – that would tie 25 percent of state funding for colleges and universities to performance-based goals. Higher education institutions have expressed concern over such a mechanism, which could result in the Colorado Commission on Higher Education gaining more authority.

Heath also has proposed a ballot initiative for the fall that would increase current rates of state income and sales taxes in order to generate $1.63 billion over the first three years, which could boost education spending. CU President Bruce D. Benson has said that voter polls regarding a potential tax increase on November's ballot don't favor a victory.

Benson will be speaking about the budget and other legislative issues during his series of town hall meetings at all four campuses next month (see story here).