State Budget Reductions
Dear Colleagues and Friends:
By now many of you are aware that Colorado state budgets are facing cuts both for the remaining months of this fiscal year and next year's base budgets. While specifics are not yet available, it appears that ASC faces a minimum of a 10% (approximately 1.4 million dollars) base budget cut over this fiscal year and next.
Given the magnitude of the cuts, there is no way to move forward without affecting every area on campus. Operating budgets, as well as staffing across campus, will be affected. We need to work together, making strategic cuts to achieve the required savings while investing in the long term growth and success of the institution. I will not ask you to make any sacrifices that I am not willing to make myself. I want to emphasize that the entire campus will have to do more with less for a time.
We have already taken some steps and eliminated some administrative positions. The Cabinet group will look at ongoing operational expenses for efficiencies and reductions. Dr. Mumper and I have asked Dr. Novotny to join the Executive Council and assist in its role in this process. We would appreciate any suggestions you might have. We will create a virtual suggestion box to collect your input in the near future.
I know these are frightening times, but there were frightening times in 2002 also and this time around ASC is in much better financial condition than in 2002. We will get through this downturn and there is every reason to believe, to have an "Audacity of Hope," that we will come out a stronger, more vibrant, institution. Right now, we need to pull together and retain our optimism for our students and our families. The one thing that can make the most significant impact is an enrollment increase in the fall. For every 5% increase in enrollment, ASC generates about $700,000 of revenue, a 10% increase would offset the cut.
My best regards to all of you,