CSU accountability report released
FORT COLLINS - Colorado State University released its second annual
Financial Accountability Report today, pointing out that while the
university has grown, its breakdown of revenue from tuition and
expenditures on instruction has remained consistent.
From fiscal year 2005 to fiscal year 2009, total revenue at CSU grew
35.8 percent to $815.5 million. During that period, tuition and fees
charged to students made up between 22 percent and 23 percent of total
revenue. The report points out that CSU ranks 11th among 12 peer
institutions in the amount charged for resident undergraduate tuition --
with North Carolina State University the lowest.
Total operating expenses during the past five years grew 33.6 percent
to $770.5 million in 2009. Expenditures on academic support and
instruction remained at 31 percent of total expenditures during that
time. Research expenditures also remained consistent at 31 percent.
"This report provides an overview of the university's financial
statements as part of our overall effort to be transparent and
accountable to the people we serve," said CSU President Tony Frank, in
the report announcement. "These are difficult financial times, and we
want to ensure that we're responsible stewards of public funds, and
that we stay focused on our mission to provide access to a high-quality
education to our students, research that advances our society, and
service to Colorado residents that addresses critical economic needs."
The report also highlighted the fact that $29.29 million in federal
stimulus money -- appropriated through State Fiscal Stabilization Funds
-- was needed to replace the state's fee-for-service revenue and College
Opportunity Fund stipends, which declined 11.1 percent and 21.8 percent
The full report is available at http://busfin.colostate.edu/finstmt.aspx.
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