FORT COLLINS - The Board of Governors of the Colorado State University System on Wednesday approved CSU's budget for fiscal 2012-13, including the first salary increase for faculty and staff in four years.

The budget, effective July 1, also includes a 9-percent tuition increase for resident undergraduates.

CSU's budget includes state funding and tuition dollars, but does not include self-funded programs or research support. The general budget is $459 million, an increase of 6 percent from last year. The budget for the entire university is about $900 million, up about 4 percent from the previous year.

In addition to the tuition increase for residents, undergraduate nonresident tuition will increase 3 percent from last year.
Overall state funding provided to Colorado State will decrease by $2.25 million for the 2012-13 fiscal year to $91.2 million. Last year, state funding decreased by $23 million, and over the last four years, state funding has decreased by a combined total of more than $39 million.
CSU had been racing for bigger cuts. Projections last fall signaled the potential for a much larger cut in state funding, which would have meant big reductions in financial aid and operating budgets.

The worst-case scenario, however, did not materialize, CSU said in its release.

Instead, the improving economy means CSU will be able boost salaries for faculty and staff by 3 percent.

It will be the first salary increase for employees since the 2008-09 fiscal year.
The system also was able to afford a $3.1 million, or 11-percent, increase in financial aid for low-income families hoping to send their children to college.

"After three years of some of the toughest budgets in CSU history, we're very pleased to bring forward a budget that keeps tuition increases in the single digits and provides the first pay increase to our employees in four years," CSU President Tony Frank said in a statement. "While we're still taking a reduction in state funding, it's far less than what we had built into our original budget planning last fall."
Fiscal year 2012-13 annual tuition rates for CSU will be: