THE state of Colorado will keep Adams State flush in the 2023-24 spending year with a healthy increase in higher education funding that the university will use to keep its undergraduate tuition flat and grow its employee salary base.
The Board of Trustees on Thursday adopted a $73.7 million annual budget, up from $70.5 million. The growth mainly comes from an additional $2.55 million the state kicked in above its public spending appropriation to Adams State a year ago, or up around 12 percent.
Adams State Trustee Jonathan Marquez, who chairs the Adams State finance committee, said keeping undergraduate tuition flat and increasing the salaries of employees were key goals in the next spending year.
The state is requiring a 5 percent increase for Adams State classified employees, and faculty and exempt administrative staff will receive 8 percent base raises. Classified employees are also expected to earn additional pay increases through a state negotiated contract.
Trustees acknowledged the salary increases at Adams State will likely outpace wage hikes seen in the private and non-profit sectors. But they said it was important to address the wage scale since it’s been such a sore point among faculty and staff working at Adams State.
“It’s a significant raise,” said President David Tandberg, who added the Adams State wage increases will probably outpace increases at other campuses.
“It’s not ‘can we afford it next year?’” It’s ‘can we afford it next year and the year after and the year after?’ We’re nervous, but we’re committed to it.”
Keeping undergraduate tuition flat halts a three-year cycle of tuition increases for bachelor-degree seeking students at Adams State. The per semester rate is $4,887 for in-state students and $8,423 for out-of-state students.
Most undergraduate students at the university qualify for federal financial aid, which reduces their own out-of-pocket expense. The Adams State Foundation and its scholarship base also helps pay for students’ costs to attend the university.
Rising advanced degree tuition
Tuition fees for masters degree programs and student housing costs will go up in the coming school year under the budget adopted by the Trustees. The masters degree programs have been growing and keeping Adams State more relevant with its advanced-degree offerings as the university has been experiencing declining enrollment for students seeking bachelor’s degrees.
Tuition will go up two percent for graduate degree programs. On-campus housing costs are also set to rise between five and nine percent, depending on the unit. The housing increase means students will now get laundry services covered through their rent.