The University of Colorado's budget is set at $2.9 billion for the fiscal year that begins Sunday, and it includes stipulations that limit salary increases for the school's top-earning employees.
Unanimously approved by the Board of Regents last week, the budget is 2.5 percent more than last year's and key revenue increases include an extra $20.8 million from nonresident tuition streams and an extra $39.3 million in heath services fees. Meanwhile, state funding for the general fund and for financial aid has dropped.
CU's $2.9 million budget includes the system administration and the university's four campuses.
Recognizing the controversy surrounding raises for top officials that were funded by last year's tuition increases -- including a $49,000 raise for Chancellor Phil DiStefano, who now earns $389,000 -- university officials put a cap on such raises this year. Administrators earning $175,000 or more won't be eligible. Those earning $100,000 to $175,000 will be eligible for raises up to $2,000, according to CU system spokesman Ken McConnellogue.