Budget Update, April 1, 2009
I sent you a note March 25 talking about the fluidity of Colorado’s budget situation. That level of uncertainty continues.
Discussions today at the Legislature’s Joint Budget Committee indicated additional, significant cuts — specifically, a more than $300 million reduction — to Colorado’s higher-education budget for the 2009-2010 fiscal year. While the amount of the cut discussed today is concerning, there are also discussions about sources of funds that may backfill significant portions of these reductions to the higher-education budget. I urge you to remember that this is the time of year when potential budgetary outcomes shift several times a day. (Indeed, the figure I’m writing to you about shifted during the composition of this message). I’m sorry we don’t have more definitive information at this time, but we will continue to monitor the situation and keep you apprised.
Despite today’s situation, I’m still optimistic. We have friends and supporters within our state government who understand the value of a healthy, stable higher-education system in Colorado, and the Department of Higher Education has addressed these cuts as “unacceptable.” Indeed, my primary reason for this communication is to highlight that the budget for Colorado’s higher-education system budget is far from finalized.
More to follow …
Dr. Tony Frank