Sorry. Good afternoon. Uh the meeting will come to order. I want to make an announcement. The chair and the vice chair are unfortunately unable to attend today's meeting. So the chair has recommended that Regent Chavez serve as chair prom for today's meeting. Uh
regents, if there is no objection, Regent Chavez will be recognized as chair prom. Any objection? Seeing no objection, Regent Chavez will serve as a chair prom for the rest of the day. Regent Chavez, congratulations.
>> Seemed like there was objection. >> Okay, thanks everyone for coming. Um let's see. Let's start with the uh pledge of allegiance. Uh Regent Vanril, will you lead us in the pledge? >> Yes, Mr. Chair. All please join me. I aliance to the flag of the United
States of America and to the republic for it stands one nation indivisible with all. Thank you. Um, before we begin, I wanted
to just introduce a new member to our board office, Justin Schwenderman. Justin, where are you? Raise your hand. There's Justin. Justin. Justin uh joined uh our office u the
board engagement and events as as the board engagement and events coordinator and uh we're happy to have you working for us and uh with us. So thank you for u all you're going to do for us. Thank you. All right. Next is the approval of
a revised agenda. Uh, I'd like to note that since the publication of the original agenda, a resolution denouncing violence has been added as action item D3. The revised agenda and related materials have been
posted to community and are before the board for approval. Is there a motion to approve the revised agenda for the June 4th, 2026 board of regents meeting? It's been moved by >> uh Regent Spiegel. Is there a second?
>> Second. >> It's been seconded by Regent Hood. Is there any discussion? Seeing none, all those in favor of approving the revised regent meeting agenda, please signify by saying I.
>> I. >> I. >> Those opposed. The motion passes. Okay, that takes us to item D3. Uh the the next item is the action item I just referred to and is um a
resolution denouncing the glorification of violence and anti-semitism. Um is there a motion to move? Is there a motion to accept this? Okay, it's been moved by U Regent Spiegel. Is there a second? >> Second.
>> It's been seconded by Regent Scott. Is there discussion? >> Yeah, Chair Chavez. Thank you. Thank you so much. Since this was just added to the agenda and just posted, I asked if I could read the resolution. The statement of information, this is a recommendation
from myself and Regent Hood for the board. The statement of information reads, "On June 1st, 2025, a horrific attack on Boulders's Pearl Street Mall targeted the Jewish community. As a result of the attack,
one person died and more than a dozen were injured. On June 4th, 2025, the board adopted a resolution condemning the June 1st, 2025 attack. On June 1st, 2026,
a post made on the social media account of Students for Justice in Palestine, an unrecognized student organization, glorified the Pearl Street attack and its perpetrator. Anti-semitism and other forms of discrimination have
no place at the University of Colorado and the Board of Regents is committed to ensuring it remains welcoming to all people. resolved that we join with one voice to condemn in the strongest possible terms recent statements made on social media
of an unrecognized student organization and anyone who would minimize or condone anti-semitic acts of violence. Harming and killing people is not resistance. Those actions do not lead to justice and
they should never be celebrated. resolved that on the one-year anniversary of the horrifying attack on the Jewish community in Boulder, we reiterate our support for the victims of this vicious attack. We particularly hold up Karen Diamond who was murdered
in the attack and and other members of our CU family who were injured. resolved that our tradition as an institution of higher education calls on us to have free, open, and rigorous debate and disagreement. That tradition
lives comfortably with our commitment to ensuring that every individual finds a path to their educational goals free from hate. resolved that today we rededicate ourselves to the continual creation of a University of Colorado
that welcomes all and stand in solidarity with all in our community and beyond who share this common goal. Thank you, chair. >> Is there further discussion on the motion?
Seeing none, all those in favor signify by saying I. >> I. >> Opposed? No. Anyone? Nope. Seeing none, that motion passes. That resolution passes. The next item on our agenda is public
comment. Uh, I want to let everyone know how we're going to do this in case it's your first time here addressing the board. Um, each member is given two minutes to speak. Uh, you'll see a timer on the
screen before you to let you know how much time you have. Um we ask that each speaker conclude your thoughts within the time frame. Um and we also ask that if you have something materials to distribute things like that that you not
approach the table that you provide that information to the to the board office staff who's standing on the side and um be respectful of everyone that's here. So let's begin. There are one, two, three, four, about eight people signed
up to testify. I'm going to tell you who's coming in what order. Say four at a time so that you're prepared for the next person. Uh the first person who signed up is Khloe East from CU Boulder.
Chloe. And the next person is going to be Rory Barford, Ari Kell, and Jessica Ellis in that order. Please join us. You have two minutes. Thank you. >> Great. Thank you all so much. Um, my
name is Khloe East. I am an associate professor of economics at CU Boulder. I am also proudly the vice president of our union, United Campus Workers Colorado. One of the many things that I've learned in the 15 years that I've been a labor
economist is that budgets are political documents and that decisions that are made in budgets are not inevitable and that those who have control over the budgets um can make decisions that
benefit them and not benefit those who are not in the room making those decisions. Today you all are going to pass a budget uh that does not prioritize uh the needs of workers at CU or students at CU. Uh
this budget raises tuition and fees for our students. It squeezes the finances of workers, families, and students in this state who are already dealing with big cost of living increases. And I wanted to say that um I did a little digging and the research actually shows
quite clearly that raising tuition and fees reduces college enrollment and reduces graduation rates among those who are who do enroll in college. So this is putting um putting our students in a tough place uh when many of them are
already in a tough place. Uh Colorado is also um about 46th in the country in terms of funding for higher education from the state. And I think that is a pretty um poor position for us to be in uh here here in
Colorado. But the reality is all of this can change. Uh and the clear mechanism that we can change this through is collective bargaining. With collective bargaining, myself and my fellow workers will get a say um in the decisions at our workplaces, including things like
budget. So, what I would ask you today is to introduce the resolution for collective bargaining that you've had in front of you um this entire year. Thank you. >> Thank you for your remarks. Next up is Rory Barford.
Thanks for joining us, Rory. >> Thank you for having me. >> You've got two minutes. My name is Rory Barford. I am the UC Denver staff organizing chair for United Campus Workers. I also manage scholarships at the business school. So,
when student tuition and fees are raised, I read the letters from students who can no longer afford their education. I have heard from students who have experienced financial difficulties because their family was bombed in Iran. I have heard from students who had a car
accident in the family and with medical bills can no longer afford to come to school tomorrow, let alone for the remaining three years of their degree. When you pass a budget that does not hear from staff and from students,
you don't get the full picture. I also understand our students better than I would like to. Today, I had to drive out to Gley to speak with you. It's a really lovely town. I'm glad I had the opportunity, but it's also an extra tank of gas, paying for parking, extra paid dependent
care, lost wages, or vacation time. I'd estimate my colleagues and I spent the better part of a $100 each to come speak with you today. We are not able to equitably come to this conversation. For your reference, uh that $100 is the same as the monthly land lease payment
for the low-income housing program I have used since being employed at the University of Colorado. I have a senior level job title. Our workers are passionate about coming to the table, about working with you on budgets, on student issues, on workers rights. We make our voices heard again
and again when we're given the opportunity, when we can afford the opportunity. We respond to your surveys. We show up to meetings. We share our time, our labor, and our limited funds because we want what's best for the university and our students. Collective bargaining gives us the ability to make
that partnership official. You have had the collective bargaining uh issue in front of you for a full year. It is past time to introduce and vote. >> Join us at the table. >> Thank you. Thank you, Rory. Ari Kell is
next. Thanks for joining us, Ari. >> Thank you. Good afternoon. Hello board. My name is Ari Kell. I am a stakeholder of CU Boulder because I'm a taxpayer in Fort Collins. I'm here today to implore you to stop using and contracting with
Key Lime Air, which is a small charter airline that you use to transport your college athletes to and from games. This is also an airline that is operating domestic trafficking and deportation flights for ICE. And today I just want
to share with you a little bit about what it looks like to be on one of those flights. I recently sat down with an Air Force veteran who served as an aviation firefighter. They are the top skilled, top trained firefighters in the world. And I spoke to him about what would an
emergency on an ice flight look like. He told me there are three types of emergencies. An in-air emergency, a water landing, and a ground landing. And on these ICE deportation and domestic trafficking flights, every single person
who is detained by ICE is restrained with shackles at the wrists which are connected to a waist chain and then also on their ankles they have a leg iron. So let's say we have an inair evac uh in air emergency. Let's say the oxygen
levels drop, which is something that did happen on a previously documented ice flight. You can look up a ProPublica article from last spring. It'll tell you all about it. So, if you're chained and your handcuffs are attached to a waist chain, you can't reach above your head.
How are you going to reach your oxygen mask? You can't. So, when I told the aviation firefighter about this, he said that that would be a mass casualty event within minutes. You cannot have one ICE officer in charge of the safety of the entire plane actually administer oxygen
masks to every single person on board. So, that would be a mass casualty event within minutes. Okay, water landing. So, you're in chains again. You can't reach your flotation device. You can't put your arms behind your back to put a life vest on. And your chains could puncture the emergency evacuation inflatable
slides, preventing everyone else from evacuating as well. >> Can you conclude, please? >> Sure. This is the liability that CU Boulder uh adopts when you use a vendor airline that is actually committing FA protocol violations. >> Thank you for your remarks. Thank you.
Thank you, Jessica Ellis and followed by Dana Miller and then Wyn Howell. Jessica, thank you for joining us. >> Thank you. Good afternoon. My name is Jessica Ellis. I'm a staff research assistant at CU Anshoots and the
president of our union, United Campus Workers Colorado. And I'm here because the board of regents is approving a budget today including 1% salary raises, three and a half% tuition raises, and up to 4% student fee raises affecting thousands of faculty, staff, students,
and families who once again have to do more with less. But there is another way. This past Monday, I met with staff and faculty from Ruters and Pittsburgh Health Sciences centers. They discussed the same issues that we're all familiar with. They discussed cost of living, NIH
funding cuts, teaching requirements going up, but they were swapping suggestions, real solutions like bridge funding for research staff like me that they have brought to the bargaining table with their universities. And it was a completely different conversation than the one that we have at an month
after month. And these universities are listed by CU as our direct comparable peers. But I didn't feel like their peer because instead of participating in my university's budget process and tuition and merit raise process, we are still sidelined to public comment and hoping
for the best. When we talk about uh collective bargaining, we're often told that we already have a system in place um to advocate through shared governance, but clearly this is not enough. a 1% merit raise at a research university that won't protect its workers during a research funding crisis
at a campus with a three-day hybrid work policy with gas at almost $5 a gallon. This is not what it looks like when your public workplace is fairly representing your needs. Finally, I want to address the published notes from the regent's governance meeting last month where we read that no
further updates on collective bargaining will be discussed until a policy proposal is brought for consideration. This is not accurate. University workers have had a policy proposal written since September of last year. We have shared appropriately, discussed amendments, and built broad support for this policy. And
we are calling for our elected regions to introduce the collective bargaining policy and engage with workers in good faith. Thank you. >> Thank you for your remarks, >> Dana Miller. Then Wyn and then Mary Mezer. Dana. >> Hello everyone.
>> Thank you. >> Dana Miller here. Good to see you again. Um I would like to read um some a a bit of a letter that you all received recently from the Colorado Franciscan Justice Circle members.
The CU board of regions guiding principles state that the this entire university system must uphold strict standards of ethics, integrity, and accountability while fostering a diverse community where all individuals feel
supported. We understand the administration's position that procurement rules do not typically require vetting of vendors external business partners during the bidding process.
Yet as stewards of public funds and institutional values, being made of aware of the deep impact connected to this vendor's operations allows us all to collectively pause.
It prevents I mean, excuse me, it presents the university's leadership with a meaningful opportunity to reflect and choose a path more clearly aligned with CU's institutional ideals. Because
the university's contract contains a 30-day termination without cause, you hold the lawful and peaceful agency to act. We res respectfully urge the board to align its system wide uh business practices with its moral obligations.
Please transition CU athletic travel away from key lime air so that you hold uphold human dignity. And this is from all of the members of the Colorado Franciscan Justice Circle. Thank you very much.
>> Thank you for joining us. Uh Winhel, is Win here? Oh, there we go. Mary's gonna follow Win and then Tristan. Go ahead, Win. You have two minutes. >> All right. Uh, thank you, Regents. I'm going to try to talk about three things in two minutes, so bear with me. Um, the
first thing I want to share, uh, and I'm the state director of working families power, which represents tens of thousands of Coloradoans, including a number of folks attached to the CU system. Um, the first thing I will say is that um,
we're deeply dismayed by this body's refusal to talk even about key and the problems there. Um, I understand that that is a decision that the chair and vice chair were involved in. I'm sad that I can't talk to them today about that. But for us, this is a moral issue.
And my understanding is that what's been communicated is that this body doesn't even want to talk about it. And so I am here to tell you today that you're going to talk about it eventually because we are going to keep bringing it here until you do. This is a moral issue that
cannot be resolved until it is discussed. Um, and I want to thank the regents who have engaged on this and spoken out about this. Um I also want to speak here in favor of collective bargaining. This is a fundamental issue issue of justice for
CU workers and I would echo uh what came before uh in some of the folks who spoke previously to me. Um and then lastly I want to thank uh Regent Spiegel specifically for uh resolution D3 which we just heard and saw passed. Um that
statement uh from that uh disgraced organization was absolutely unacceptable and does not represent uh the values of anyone on the left I know. Uh violence is never the answer and glorifying it is never the answer either. All three of
these things together represent stances for justice are not in competition with one another and I think they need to be viewed that way. Um, and so I would thank you um for the work to advance justice this morning and say you still
have more work to do. Thank you for being here, Mary, followed by Tristan and then Camden and then finally Alice. >> Welcome, Mary. Um, I just want to start by saying I was a preschool teacher for
many years. And one of the things, first things you teach kids is you keep yourself safe, you keep your friends safe, and you keep your things safe. You also teach them when you know better, you do better. So, as I'm looking at all of you, you know better, you should do
better. We need to be safe. You talked about keeping people safe as the proclamation that you made here today. We can't keep people safe that are in our facilities learning if they are going to be targeted by organizations and you're working with those
organizations. It's important to take in account you want to raise your tuition. Who wants to pay for an education that's performative in the sense that you say you care about your community but do you really? So, when
you think about things that are important, um I am now an unpaid caregiver for my mom. It's hard and it's something that a lot of people are dealing with. Money is an issue. My kids can't afford to go to college because of
our financial situation. I think that happens for many people. And so, when you think about a collective community, it's all of us. It's not just a few people that you should think about. You should be taking care of the most vulnerable people in your community. Thank you.
>> Thank you, Tristan. You're up next, then Camden, and then Alice. >> Hi, my name is Tristan. >> Let's restart your clock. We You have more than 21 seconds. >> For sure. I need my whole two minutes, please. And thank you.
>> There we go. >> Okay. Thank you. My name is Tristan. I'm an organizer with the Colorado Working Families Party, also a stakeholder and taxpayer, and I'm here to tell you a little excerpt from ProPublica that Ari mentioned about the conditions of ice
flights and how people are being treated um during these flights that are directly connected with Keyine Air. But the flight attendants were most concerned about their inability to treat their passengers humanely and to keep them safe. They worried about what would
happen in an emergency. Could they really get over a hundred chained passengers off the plane in time? They never taught us anything regarding the immigration flights. One said, "They didn't tell us these people are going to be shackled wrists to ankles.
We have never gotten a clear answer on what we do in an ICE air evacuation." Another said, "They will not give us an answer. It is only a matter of time, a third said, before a deportation flight ends in disaster. And I implore all of you to do what you
just said you were going to do with your last resolution and continue to create a CU that welcomes all and stands in solidarity with everyone and all in the community. And in order to do that, you have to end
your partnership with Key Lime Air. You cannot pass a resolution that claims all of those things and then continue to partner with Helime Air. So, I implore you to all do what you said you were going to do and stand in solidarity with your community because your community is
suffering and it's being hurt right now and you have the power to change that. You You're of nine 10 people here. So, please do something and be the change that you want to see in the world and actually stand up and end your partnership. The contract ends in
September. You do not have to continue it. We are going to keep showing up. You're gonna keep seeing me until you actually do something. So, thank you. >> Thank you. >> Thanks for joining us. >> Okay. We we uh Cam Camden is next. Uh followed by Alice and then Kristen
Aldrey. I didn't have your name earlier, so you're you'll be uh third. So, Camden, your floor is yours. Hello and surprise. Commencement was not the last time that you are seeing me. My name is Camden Shy and I'm the outgoing external
triex executive of CU student government. First, I didn't want to take up any of Carla's time later, but I did want to provide an update on what ICSF has been up to as we close out our term in ICSF as they overlap in a weird way. Uh, first and foremost, after two long years, we have finally finished bylaw
revisions for ICSF and are scheduling a meeting with Michael Lightner regarding those edits to make sure that everything is good and set going forward, as well as our proposal for the CU system leadership summit, which we are extremely excited for and we are very, very thankful for partnership with
Michael Lightner, Todd Solomon, Judy Diaz, and the entire CU system office for their support and partnership on this project. I'm also here on a less light note with comments from both myself and the two other executives from CU student government. This year was the year that the CU student government's chancellor's agreement was up for review
and unfortunately after eight months of discussion, no final document was agreed upon. CU student government has a long-standing history of providing a unique and unparalleled student leadership experience. And as the three outgoing executives, we feel as though the vice chancellor for student life was attempting to diminish students voices
as well as the history and tradition that this organization was founded on. We raise this concern only as we depart because we genuinely believe that this would be resolved before our time ended, which I know that every partner involved in the discussions is disappointed on, but also as though if any further
conversation about the um disregard would have raised more tension throughout already tense negotiations. Throughout this year, we faced basic setbacks in working with the vice chancellor for student life that went beyond scheduling conflicts and being busy, reflecting a deeper disregard for our leadership and our role as shared
governance partners. We want to encourage the spirit and insist that the spirit of faithful, persistent leadership and advocacy be carried forward with many other future administrations to come. CSG is a unique and unlike any other student government in the country, and we insist that it remain that way.
>> Thank you, Camden. Okay, next is Alice and then Kristen. >> Thanks for joining us, Alice. You've got two minutes. >> My name is Alice Goldfarb and I'm finishing my first year as a doctoral
student in information science at CU Boulder. I moved to Colorado last August because of the amazing opportunity to work with my adviser and in this department. Even in my short time here, I'm very aware of the ways that CU's budget choices are affecting this university.
Other doctoral students in my department are working in coffee shops because their stipend is not enough to get by here. All of that time could be going towards their research or towards teaching. Our department is relatively new. We just celebrated our 10th anniversary and
so many of the faculty moved here more recently. Most need to live far from campus as do the graduate students. This has material impacts on the work that we are able to do. Not only the time spent going back and forth, but that people are less likely to be
around for events and are less likely or more likely to need to leave early for family reasons and are generally it's generally undermining the amazing collaboration that could be possible. These are the things I'm able to see week to week. What is less visible is who isn't able to be part of our work
because of these budget choices. I would not be able to be doing this degree if I hadn't worked for many years beforehand or if I had children. I want to be in a place doing this research in the best way possible and to be a resource for all the students of the state which means being accessible to many more
people. While I'm able I'm really glad I'm able to be here today saying this. I would much rather be in my department collaborating with my colleagues supporting my students. I fervently hope that in future years collective bargaining can be a way to express these concerns much earlier in the process.
Thank you. >> Thank you Alice. And finally, Kristen Aldrey. Thanks for joining us Kristen. >> Thank you so much. I'm Kristen Aldredi
and I'm a community member. When community members started reaching out to CU last year to request that it drop its contract with key lime, everyone received a standard boilerplate response basically stating that CU doesn't
concern itself with other customers of the the companies it does business with. And fortunately for you as leadership, the key lime air contract actually makes it very easy to end. According to the
contract, the university may terminate this agreement at any time without cause upon written notice given 30 days in advance. And I know that's been stated before today. The contract also outlines
that CU has to renew the contract each year until 9 29 29. It states the term of the contracts resulting from award of this solicitation shall begin upon execution of the contract on September
1st, 2023 and it ends one year later. So that was in 2024. The contract may be renewed upon mutual agreement up to four additional one-year periods for a total term not to exceed
five years. So all it takes is for the contract to be is for the contract to not be renewed this year in September. That's not a heavy lift for you as leadership to enforce.
So I ask you, what is driving CU's determination to protect this business relationship? I also would like to know why is the only public testimonial on the key lime site attributed to CU.
>> Thank you. >> Thank you. Thank you very much. >> That concludes the public comment section of our agenda. Thank you all for coming and sharing your thoughts. The next item on the agenda is the chair's report. Um I'll be doing that in in in u
in lie of Ken. Obviously I'm not Ken Montero, so I'll offer it in his state. Uh welcome to the June meeting of the board of regents. And for those of you who are joining us virtually, greetings from Gley, Colorado. A few years ago, we decided as a board as Colorado's
university that it's important to meet in communities around the state beyond those in which our four campuses are located. Um, and so that's why we're here today. In um in CU news, we're coming off another terrific commencement
season. This spring, more than 14,000 students across our campuses became our newest graduates, bringing the total number of CU graduates uh for the 2526 academic year to over 17,280.
And these graduates join roughly 325,000 CU alumni living in Colorado and more than 600,000 alumni worldwide. Congratulations to our newest graduates on achieving their major milestone. Uh
while we're on the subject of milestones, CU Boulder student athletic athletes uh earned their highest semester uh GPA in history this spring uh with a 3.27
GPA and a 3.2 3.32 cumulative GPA. In Colorado Springs, our UCCCs student athletes recorded a 3.26 26 GPA during the spring 2026 semester, which extends their streak of 44 consecutive semesters
and 22 consecutive years with a GPA of higher than 3.0. Congratulations. And speaking of Mountain Lions, I want to acknowledge the leadership of Chancellor as she and her team worked to address a substantial budget shortfall at UCCCs.
Jennifer is working tirelessly and transparently to make strategic and difficult decisions to ensure the campus's long-term sustainability and health. It's not easy work, but I'm confident that she's positioning the campus for a stronger future. I I'm
continually struck by Jennifer's commitment to the UCCCs community, which is truly remarkable. Thank you, Jennifer. And finally, I'm excited for our upcoming outreach event with CU Boulder athletic director Fernando Lovo, Coach Prime, and the voice of the
Buffalo's Mark Johnson. Uh the first event will be in Regent Scott's hometown uh of Grand Junction on Monday with a second event planned for Colorado Springs in August. So, thank you um Regent Scott for hosting that. Uh I want
to thank everyone involved in the planning of these events which provide further opportunity to connect with our great state. Um now with that in mind I'll hand things over to President Solomon for his brief very brief report.
Sorry about that. >> Thank thank you Mr. Chairman. I have some extensive remarks today. Um so uh first of all thank you to to the to the every to everybody who's on the
team that is part of making today's meeting happen. Taking the meeting on the road requires a lot of work. So thank you to the the board staff, all the folks who assist the board, Elizabeth and um and and everybody else who is part of making today happen.
Thank you all very much. Uh, I would like to to start by thanking the board for for the um for for the the resolution that you all passed a little while ago. Um, it denounces the recent
anti-semitic statement that we all read and I appreciate and I truly appreciate the board's ongoing leadership in standing up publicly on this issue. It's something that is um noticeable and I think it matters to to um people in in
in our community, in our state, and in our nation. So, thank you. I too was just dis disgusted by the language that was used by that unrecognized student group. And um there is no place at CU for anyone who would justify or support
anti-semitic acts of violence. So, thank you to the to the board for your for your for your resolution. I appreciate it. Um I I am um I am inspired every year during graduation season and and we
are very we are very lucky because we get to to sit on that on the stage and look at all of these incredible graduates. And I look at all these people sitting in in those chairs and I think every single one of them has a story. Every single one of them has
experienced challenges and every single one of them has dreams for their future and I just want to thank them for choosing us. uh students have have choices and though and and our graduates chose the University of Colorado and um
and and and I have nothing but hope for our future when I when I when I look out on those on that on the on at that sea of people and think about the things that they have in mind for the future for themselves, for their families,
families yet to come and for our country and for our world. So, it's a it's an inspiring thing. And with that in mind, they chose wisely because we're awesome. Um, there was a great article in the Daily Camera that that outlined uh the
value of a CU degree. And thanks to Chad and his team for doing really great work with a third party to to delve into the value of a CU degree. And uh a few factoids from that um individual median
income is 57% higher than national median income for our graduates and 36% higher than the Colorado median income for our graduates. We are we are um we are we are awesome and we provide an awesome education. Uh but it's our
students who really who really come through. They're the ones who deliver. They're the ones who go out and produce for for um for for all of us and we're very grateful to for all that they do. Household income for our graduates is 71% higher than the rest of the nation
and 32% higher than other Coloradoadans. There's lots of good data in this report and I encourage people to take a look at it. Very, very compelling information. So, thank you to Chad and his team for putting it together. Um so we um we just got through with the
legislative session and um they they considered over 700 bills. Two of those were bills that were priorities for us and there were a few others that we worked a lot on. Um so thank you to the sponsors who helped bring our bill get helped get our bills across the finish
line and thank you to Danielle and Heather Rskco and Chad and and the government relations team for all the work they did. I'm really excited about the concurrent enrollment bill that's going to make it easier for Coloradoadans to um get a CU degree and
to and to go to college uh for for for cheaper. And so it's really an incredible thing. So thank you to all of them. I want to echo uh uh Regent Chavez's Mr. Chairman
>> Nolbert's remarks um u in support of of Chancellor Soet and the work that you're doing. We're very grateful for the work you're doing and um the the budget challenges at UCCCs didn't happen overnight. They're not going to be fixed overnight, but you are you're putting
together a really good, transparent, and inclusive process to move the campus forward. And I'm grateful for the work you're doing. So, thank you. Um I I also wanted to mention these really cool um this really cool work that's going on
across our system relative to innovative ideas around the use of AI. Uh we we set up I set up a a um an awards and grants program to recognize the outstanding work of our faculty who are who are
using AI in innovative ways to do to teach and to do their research. And um we we recognize 21 projects. Thank you to Mike Lightner and all those on the selection committee who reviewed all the applications. I had the wonderful
opportunity to get to meet with some of the faculty and who are doing the who are actually who won the awards and doing the work and they are so creative, so innovative and um and I'm and I'm very grateful to to them for the work that they're doing. And then finally, I
just wanted to um uh to recognize the not really finally, so almost finally, I wanted to recognize the extraordinary our extraordinary lacrosse teams. And I suspect that that Chancellor Schwarz might rec might might mention the CU
Boulder lacrosse team. And so I won't say too much. I'll leave it to him to to provide the details. But number what? Number five. >> Underrated. We are underrated at fifth in the nation at the end of the day. So, best season ever for them. So, congrats
to them. The and the UCCCs uh lacrosse team uh had won the Armac championship title this year and had um and and the student athletes uh also were outstanding academic performers as well.
So, thank you to them. And then finally, Boulder Boulder was super fun this year. I gotta say, I got to be I had the honor of representing the University of Colorado um as the starter for of the race this year and got to pull that starting that starting gun u 94 times
for 94 waves. And there were CU folks in every single wave. And so we have an incredible group. Uh, Chancellor Schwarz and and and Gina were were there in in um in wavel Colorado and um it was just
and she waited for him at the end. And another really cool highlight was when a wave when I started a wave and they started going and then then this guy at the end of the wave starts waving to me and it's our Nobel laureate
um Eric Cornell and so very very cool that our our Nobel laurate was there in the Boulder Boulder with with everybody else and so thank you to our wonderful community and thanks to everybody for for joining us today. >> Thank you Todd. Uh the next item on the
agenda is uh our governance leaders reports. Shared governance is a very important part of CU. And um the first person up is our intercampus student forum >> in the chancellors. I'm so sorry. >> Oh,
talk on it. We got to go back. Okay. >> I'm sorry. Ch Regent Chavez Norbert. And so um >> we were we were on schedule. Now we're not. I apologize for that. So, if it's okay, Mr. Chairman, I'd like to ask our
chancellors to to each give us a a twominut update and uh we could just go around the horn and we'll start with with Chancellor Schwarz. >> Thank you, President. Thank you, chair. Um I'd like to open by thanking all of the regents for their resolution in
support of the Boulder Jewish community and thus the Boulder campus and the broader Boulder community. Acts of anti-semitism are acts against all of humanity and your support is greatly appreciated by all who were impacted by last year's attack on Pearl Street Mall.
Your resolution takes a strong stand as does our campus statement related to the important social media posting. And I also want to be clear for the record that the group calling themselves Boulder SJP does not have any current standing or affiliation that we know of with CU Boulder. On a more positive
note, um I would also like to highlight a few of the many, many achievements at Boulder this past year. Um like you, Mr. President, I love the sea of people at commencement. And this year, we graduated 10,613 students, the largest class in CU
Boulders's history. It was a gorgeous day, fitting for a moment of pride for our community uh and a reflection of the strong momentum across our campus. Looking ahead, our first year enrollment for fall of 2026 remains very strong across resident, non-resident, and
international students. Transfer enrollments are lagging just slightly behind last year. Um, and there are unfortunately declines in new graduate students across career levels, which is sadly very consistent with national trends in in the country. Um as you
pointed out and thank you chair also for pointing out the excellence of our student athletes um excelling in the classroom and on the field. Uh not only did they have an exceptional spring setting a record for academic achievement is actually the second
consecutive semester where they set a new record for academic achievement. Um again having the highest spring GPA in Boulder history which follows the record setting last fall. Going back to your comment on women's lacrosse. Yes, I do want to comment. Um, the women's
lacrosse won its first Big 10 tournament title ever and advanced to the Elite 8 for the first time in program history. Uh, losing in double overtime to New Jersey after tying the excuse New Jersey to Northwestern after tying the match in the final seconds of regulation.
Northwestern went on to win the national championship actually with relative ease. Um, truly their only challenging moment in the entire tournament was going into double overtime against CU Boulder. So, when I say I think ranking being ranked fifth was underrated, um you could make the case that we should
be ranked second. And considering that we actually won at Northwestern in February, um you could say we're almost like 1B. We're also very happy to be celebrating new milestones in the arts on campus. This weekend, we will reopen the Mary
Ripon Theater uh and use it to celebrate the return of the Colorado Shakespeare Festival to this beautiful iconic venue. theater renovations enhance not only the overall um experience um but in particular focused on increasing accessibility um for those who have
accessibility challenges. So we're very excited to uh see the Murray Ripon Theater continue to serve our entire community for generations to come. We also have a couple of exciting leadership uh additions coming next month. Um first, Dr. Jill Blondon will join CU Boulder as our inaugural vice
chancellor for global affairs. She is currently an accomplished and visionary leader who serves as the vice provost for global initiatives at the Virginia Commonwealth University. A few days after Dr. Blondon joins us, we will very much welcome Ro Montes IVth who will be joining us from the University of
California as our new vice chancellor for communications, marketing and social media. Uh Ro brings a deep experience not only in higher education but also in the private sector uh and brings a clear strategic approach to institutional communications. So we are excited to
welcome them both this summer. Lastly, I just want to add that we continue to have broad impact across the state and the globe. Um in April, Forge Nano became our 11th startup to reach what's called Uniccoin status, which means um valuation over a billion dollars. And a
recent report by the lead school of business found that commercialization efforts through our venture partners at CU Boulder generated 8.7 billion in national economic impact including 5.1 billion in Colorado over just the past five years.
Collectively everything happening uh across our campus and I could go on but out of respect for time I'll stop. Um, our legacy is truly uh continuing to advance inclusion, experiential learning, public engagement, innovation, and impacting the state. Uh, a position
that we've celebrated for 150 years and will continue to in the future. Thank you, >> Chancellor. >> Thank you, um, President Solomon and Chair. I just already got a two-minute warning and I haven't even started.
Uh I do want to thank you both um for the support and I also um it's important that you all know that I respect the faculty assembly's right to conduct a vote um and I'm optimistic that the upcoming um facilitated conversations
between shared governance and me um will help us reach a shared understanding of facts and issues as we create the UCCCs of the future on a stable sustainable foundation. and I look forward to doing that important work with together with
our campus. Um, I also want to talk about commencement and want to thank regent Spiegel, Monta, and Hood for their support of the Norland charge to our graduates during our spring commencement ceremonies and also extend my appreciation to regents James McNelte
and Vandreel for their presence at our commencement where we celebrated 1,610 graduates. Um, and I appreciate that that not only the system president, but his entire team was there too to celebrate. Um, and this is a really big deal to our campus community. Um, I'd
also like to extend my sincere thanks to Regent Montter for all he has done to support our heroes scholarship and he helped organize a fundraising event on Tuesday. and um Regent Scott, your attendance there was really really um
important to us too as we honored our dear friend and prior regent uh Jerry Rutlitch. So it was a really special moment on campus. I'm also pleased to share that for the ninth consecutive year UCCCs has earned the top ranking for best college for
bachelor's and master's degrees in the annual best of springs awards. And that's an honor um that reflects the incredible work of our faculty, our staff, and our students. And we're continuing to build on that momentum. Recruitment and marketing
efforts are underway for both fall 2026 and 27 classes, including work to optimize our website for AI. That is a big endeavor, and we are really grateful for the that this work is funded um by the CU Foundation, and we're super excited about that. We're also
encouraged about some early enrollment indicators at the graduate level. So, a little bit different than what you're experiencing is with we have master's degrees um are currently tracking 8% ahead of last year and doctor or master's enrollment I mean and um and
doctoral enrollment is up 24%. Uh our freshman orientation opens this week and so we'll have more data as it relates to that uh next time. And I just want to say thank you to the board of regents and to the system office and so many on the on the UCCCs campus. Our new
tuition tables take effect this fall which will create so much more consistency for our students and their families and I think will help retain our stu our students as they move from the sophomore year to the junior year. And then I'll end with our Mountain Lion student athletes. Uh they continue to
excel. has been mentioned many times already not only in competition but in the classroom and as you mentioned chair Chavez with 44 consecutive con semesters achieving a department GPA of 3.0 or above and 3.26 26 this year. And so
we're really um it's important especially in this tumultuous time in athletics that um we stay committed to our vision of ensuring student athletes remain students first and we exemplify that every semester. So I will seed my
the rest of my time which I think I have probably >> Thank you. >> Thank you uh Chancellor Elellman. Thank you, Mr. President. Um, we too had our graduation. We did not have the bright, sunny, wonderful day that many
of you, it was 40 degrees and raining. Uh, so we switched to an indoor activity, which is disappointing, but still, it's still a great day. It's preceded by match day which is one of the highlights of our campus where the medical students find out where their their first year or where their where
their ongoing training will continue. Um enrollment for us is is actually strong. We're going to projecting to be up slightly as you know most of our programs are capped by their accreditation bodies. The two schools that we have where enrollment can be a
challenge, pharmacy and uh Colorado School of Public Health are both going through substantial cred uh uh C uh curricular re renovations to try to uh see if we can make the uh the offerings
that we have even more relevant than they than they have been. It's the first major re revision for both of those schools in quite some time and I think is is well well uh well needed. Um the school of medicine again this year
topped I think 11,000 applicants for the 184 slots. So it's a it's we most of our schools face pretty competitive situations. We are worried about the NIH. Um uh we are projecting a slight decline in NI NIH uh funding next year.
Um it's an uncertain picture. We know the budget is flat, but the priorities of the NIH are very unclear and very difficult to predict at this particular point in time. uh the the I'll I'll end with the fact that our clinical volumes continue to grow at at record pace and
and uh that economic engine is pretty critical to the ongoing success of the campus. So all in all, I'd say we're in pretty good shape right now. >> Thank you, Chancellor Elellman. Chancellor Christensen, >> thank you very much. And uh we too uh
celebrated the success of our graduates on May 16th within the comfy confines of the Denver Coliseum. Thank you to those of you that attended. Uh we celebrated 2,292 graduates. Uh a few a few uh characteristics of of the graduating
class. About 40% of the bachelor's degrees were awarded to first generation students. Our youngest graduate was 19 and our oldest graduate 73 years young. uh 200 plus graduates were 40 years or older, 100 plus military veterans
graduated and 20 uh active duty military uh and 75 plus countries represented by the graduates. Um just a couple of profiles of our graduates. Jordan uh Chel, a BA in uh public admin uh currently pursuing his mers of public
policy through the school of public affairs pathways program. Uh Jordan's a 20-year Army veteran and joined the military out of high school, an experience that became one of his greatest strengths, shaping how he thinks about leadership, ethics, and service. But he didn't stop there.
Through his studies, he he built on that experience, connecting with the military taught him how to lead and execute under pressure with a broader understanding of how organizations make decisions and solve problems. Linda Thus Lee uh a uh doctorate in education from the school
of education and human development. Uh Linda teaches us that learning doesn't end with a career but evolves with it. She's a 22-year uh uh employee of the CU Denver Business School. And through her doctoral research, Linda brought together her
passions for CU Denver and community exploring how spaces like the Lola and Rob Salazar Wellness Center can support learner and financial wellness. Um the through line that we see with Jordan and Linda is that lifelong learning is absolutely critical to the future uh of
education. So with that I yield back my five seconds. >> Okay. Thank you. Uh so the next item is our governance leaders reports. Um let's see. Um the intercampus student forum incoming
chair Carla Gutierrez is here if you would join us. Uh Mitchell Morrow is unable to attend this meeting so Carla will be presenting the report on his behalf and you have five minutes. Thank you. >> Thank you.
I just want to preface by saying this report is a little bit different than what you all are used to uh due to Mitchell's early departure. As this is my first report to the board, I would like to begin by introducing myself. My name is Carla Gutierrez and I recently completed my term as vice chair of the civic engagement committee for the
University of Colorado Denver Student Government Association and I'm the newly elected president for the University of Colorado Denver Student Government Association 2026 2027 term. I am honored to have the opportunity to serve with an intercampus student forum and look forward to working with student leaders, university administration, and the board
of regents in the coming year. As many of you know, the previous ICSF chair, Mitchell Marorrow, concluded his term early than earlier than anticipated, and as a result, this report will be brief and primarily serve as an introduction. At this time, it is my understanding that I will be serving as the incoming chair to the ICSF. However, should that
change, I remain eager to contribute and collaborate in whatever role best serves the organization and to our students. While I have not had yet the opportunity to formally connect with the newly elected representatives of CU Boulder, UCCCs and the Andrews medical campus, I have reached out and introduced myself to each campus. Given the recent
leadership transitions and the timing of elections, I do not have any updates to report from their respective student governments at this time. I look forward to building those relationships over the summer and working collaboratively to strengthen the student representation shared advocacy across the CU student campus.
At the University of Colorado Denver, our newly elected student government administration is preparing for the upcoming academic year. This summer, much of our work will focus on organizational restructuring efforts following consultations with an external governance consultant. These efforts are intended to improve internal process,
increase operational efficiency, and better position student government to serve students for the years ahead. I am also excited to introduce our newly elected vice president, Jackson Elliot, who could not be here today as he is attending the student summer summit affairs event at the campus today.
Jackson has demonstrated a strong commitment to student advocacy, civic engagement, and shared governance through his service at CU Denver. Together, we would look forward to advancing initiatives centered on student support, transparency, and meaningful engagement with the campus community. As we begin this new chapter, I am excited to collaborate with both
returning and newly elected student leaders from across the CU system. I look forward to learning from each of you and contributing in whatever service I can to our students. Thank you. >> Thank you. Next up is um our staff council co-chairs Jana Hurt and Kimberly
Slovski. >> Thank you for joining us. Jana, >> thank you. Thank you, President Solomon, Chair Pro Tim Chavez, regents and chancellors for the opportunity to share this time with you and discuss matters related to staff at CU. The following
update provides insight into the things that we've been hearing from um staff since we last reported to the board in April. So, since our last report, UCSC held its annual staff excellence awards on April 24th at the Lone Tree Golf and
Golf Club and Hotel. And we were honored uh to be able to recognize 10 amazing staff members um two from each campus, including system. And we want to give a special thanks. I know he's not here, but to chair Montterara for attending and giving remarks and also to Regent
McNelte, Renison, and Spiegel, and also President Solomon for attending. UCSC recently held our elections for next fiscal year, and Deianne Barrett, our current UCSC vice chair, will join Kimberly as co-chair next year. Gian Jen
D'Angelo Decker from system will be our vice chair. Jvita Rogers from UCCCs will serve as treasurer. Angela Kirkpatre from an shoots will be our secretary and Gwendelia was reelected and will continue as our communications officer.
We want to thank our outgoing executive committee members Jan Owens and Natalie Schaefer for their service as treasurer and secretary respectively. Deianne, who will be our incoming co-chair, is here today, and we would like to invite her up for a few seconds to introduce
herself to you. >> Hello, I'm Deian Barrett. I'm from the UCCCS campus. I have been at UCCCs for six and a half years and I'm a glutton for punishment because I'm finishing two years as staff council president and so I'm really close with Chancellor Soet. Um, and I just really look forward to
working with all of you. I know some of you a little bit and I haven't met all of you. Um, but I look forward to representing staff um, across the CU campuses in our system office. >> Anything else? >> Okay, >> thank you. Thank you very much. >> Thank you, Deian.
>> And the final report Oh, I'm sorry. I thought you were done. Please go ahead. >> Yeah, thank you. Um, and then UCSC will hold our annual summer planning retreat July 22nd through 24th. and we are looking forward to setting our goals and
priorities for the upcoming year. Um just a few quick campus highlights. All campus councils did have their elections as well. Um and their new representatives will start their um new terms at the beginning of the new fiscal year on July 1. um a few highlights and
shoots um um had a very um high impact and engaging um recognition events across the spring. They um held the ch they held the inaugural
chancellor's outstanding supervisor and staff awards. Um and also the professional development committee hosted head shot for hot shot event which offered professional head shot to staff and they are also looking forward to hosting several engagement
opportunities including an ice cream social and campus networking event this month in Boulder. Boulder uh held blood drive um in April. The committees um belonging, equity, accessibility, and mattering, that's um a mouthful,
committee along with their DEIB are putting together um website content to launch a connection experience and mentorship program that will launch in the fall with the voter staff council. UCCCs um are looking for representatives on
the UBA UBAC committee uh that the executive committee will appoint along with a UCSC alternative representative and they also uh hosted a big staff council celebration on May 27th where they held uh hosted the recognized
longevity awards and also lunch and had a lot of fun on the Denver campus. We recently conducted our job satisfaction survey and the co-chairs are presenting the results. They recently presented it to the chancellor's cabinet on May 18th
and will present them to the ABC and deans group on June 17th. Um and we are also hosted the chancellor at our recent meeting on May 12th where we had the chance to discuss different um issues with him including and topics including
the procurement of Independence Plaza um merit pay for the upcoming year, what steps leadership is taking to preserve staff positions and include staff pres perspectives as we make um some institutional shifts um outlined in our strategic core plan.
And overall it was a very robust and enjoyable conversation. And then finally system um had a few events in the spring as well. They uh initiated a walking challenge that wrapped up on Memorial Day that they received very good
feedback from and they also launched a virtual and on-site game library for the staff. And then finally for my comments, as this is my final report as UCSC chair, I want to um personally express my gratitude to each of you for your
partnership with shared governance and staff governance in particular. As President Solomon highlighted at the April meeting, we have made some great strides over the last few years during my tenure as co-chair that I am very proud of. Of course, we still have work
to do. Um, and as one of the largest employers in the state of Colorado, we absolutely can and should be the best employer according to our employees. And I know that we can be a place where everyone feels heard, included, and valued. Um, I know that we can get there
and I look forward to continuing to work with each of you on achieving that goal. So, thank you. >> Thank you, Jana. The final report is the faculty council uh chair report by Jorge Chavez.
>> Good afternoon. >> Good afternoon. >> Thank you, President Salomon, chair prom chavez, regents and chancellors for the opportunity to share with you the work of the CU faculty council since the April report. Um this will be my last report as faculty council chair as on
July 1 I hand the reigns to chair like Diana White. >> Yes, who is here today. So welcome Diana. Um the the faculty council has had a busy year. Uh our work this year addressed many issues including how to respond to federal and state budget
developments and their impacts on CU engagement with the strategic plan uh planning process, addressing protections around academic freedoms and freedom of expression. Um continued work to make CU among the best places to work. Um and advocating for state funding for higher
education to name a few. All of this as we continue to serve our students inside and outside the classroom and the greater state of Colorado. While the campus assemblies and faculty council standing committees have formally completed their work for the year, much work continues into the
summer. This summer, we have a working group that's bringing together campus shared governance and faculty council to meet and review and synthesize work across our campuses to advise the administration on artificial intelligence. We have another working group that's convening members from the
campus faculty assemblies to study models of collective bargaining um and understand how they might fit across our campuses and how they might fit across our system. We have a subcommittee from the faculty council personnel and benefits committee that's working with administration to expand the faculty
housing assistance program to include IRC faculty as well as tenure track faculty. Um and we have a subcommittee from the faculty council educational policy and university standards committee that is working with administration to finalize policy on the
responsible use of AI to help guide the campus level AI advisory groups and to facilitate the roll out of chat GPT on August 14th. All of this work is only possible because of the relationships and the collaboration that we continue to build between the regents, the administration
and the faculty. As the university continues to face challenging times and continues to change towards the future, I am heartened by this collaboration and continue to advocate for expanded opportunities and consideration for meaningful shared governance participation and collaboration at the
system level and across the campuses. It is important now more than ever that we leverage the skills and the people that we have here because they really are talented. On a personal note, it has been an honor to represent the faculty of the university and to report to you all, the
regents, the president and the chancellors. I thank you for your engagement, your advocacy, your work, and your partnership. It has been meaningful. I also offer thanks to my fellow officers, chair-elect Diana White, secretary Monica Yu, immediate
path chair Alistar Norcross, the leaders of the four campus faculty assemblies, Greg Kenny from the Ancients campus, Alistister Norcross from the Boulder campus, David Havick from the from UCCCs, and Wendy Bulliard from Denver campus, and to all of the faculty council committee members and their
chairs for their hard work and for their dedication throughout this year. The work of faculty council ensured governance is only possible because of the commitment, the time, the energy and the service of the CU faculty and I to them I am forever grateful. Thank you.
>> Thank you Dr. Chavis. Um first uh let's see uh we have three governance leaders who will not be returning next year and we'd like to take this opportunity to thank Mitchell Mororrow, Jana Hurt and Jorge Chaveis and recognize their contributions in their respective
leadership roles. And so in doing so, we have a resolution of appreciation for outgoing ICF IC SF gosh uh chair Mitchell Mororrow. Uh and Mitchell is unable to be here today, but we'd still
like to recognize him for his service. Uh Regent Hood, if you wouldn't mind, uh reading the resolution, moving it, and and after you're done, I'd like to us to take a roll call vote. >> Thank you, Mr. Chair. Whereas, President
Mitchell Morrow served as the 2025 2026 chair of the Intercampus Student Forum, ICSF, and as president of CU Denver Student Government Association, representing over 60,000 students across the University of Colorado system at meetings of the board of regents and in
key university decision-making bodies. Whereas Mitchell demonstrated an unwavering commitment to amplifying student voices at the highest levels of university governance, ensuring that the perspectives and lived experiences of students remain central to the board of
regions discussions. Whereas under Mitchell's leadership, ICSF strengthened its role as a platform for student unity across campuses and Mitchell consistently championed meaningful student participation in shared governance. Whereas Mitchell led ICSF to
an initial revision of the ICSF charter and an initial draft of ICSF bylaws. Do I get a dollar for every time I say ICSF? >> You might. >> Whereas thank you. Oh, whereas Mitchell led ICSF
in providing impactful testimony to the Colorado legislature. Whereas Mitchell led ICSF in the visioning and an initial proposal for a systemwide student leadership summit which is planned for September 2026. Whereas Mitchell was effective at
bringing important student concerns to the president and CU system leaders. Whereas his leadership was marked not only by personal accomplishments but by his deep belief in shared power, bringing in new voices, empowering emerging leaders, encouraging
disagreement as a tool for growth, and creating space for students across campus to participate in campus democracy. Now therefore, it be it resolved that the board of regents of the University of Colorado expresses its sincere appreciation to President Mitchell Morrow for his exceptional
service, bold advocacy, and enduring impact on the University of Colorado system and the state of Colorado. Be it further resolved that the board of regents extends its best wishes to Mitchell, President Mitchell Mororrow for continued success as he carries forward his commitment to public
service, social justice, and inclusive leadership. >> Would you make a motion? >> Yeah. And do we have a motion to pass this resolution? >> It's been a second. Is there a second? I'll second. >> It's been moved and seconded. I'd like
to ask for a roll call vote. Regent Monttered >> excused. >> Regent Hood, >> yes. >> Regent James, >> yes. >> Regent McNelte, >> yes. >> Regent Renison,
>> excused. >> Regent Scott, >> yes. >> Regent Spiegel, >> yes. >> Regent Vandreel, >> Mr. Chair, >> yes. That motion passes. Congratulations.
Uh the next item is a resolution of appreciation for outgoing staff council co-chair Jana Hurt Regent McNelte. Would you please read the resolution, make the motion, and we'll ask for a roll call vote. >> Thank you, Mr. Chairman. And Jana, it
really is my privilege to present this resolution of appreciation um because I sincerely appreciate the fact that you've included me in the work uh in your work and the work that you've done in front of the board of regents. Resolution of appreciation for Jana
Hurt. Whereas Jana Hurt served as co-chair of the University of Colorado staff council UCSC for the 2223 23 2425 and 2526 fiscal years. Whereas Jana consistently exhibited a
thoughtful, compassionate, and thorough approach to representing all voices and perspectives of the staff, particularly frontline staff, emphasizing the importance of shared governance. Whereas, as co-chair, Jana consistently advocated for improvements to the
tuition benefit program and work life benefits for the betterment of all employees of the University of Colorado. Whereas Jana worked with university leadership to modify region policy 3C3 to include two or more staff on all executive level search committees for
the university. Whereas Jana worked closely with the university leadership and the region's governance committee to develop and advance changes to region policy six university and classified staff for the benefit of all staff and shared governance. Whereas Jana served
on the diversity, equity, inclusion, and belonging committee supporting the bringing of community to staff across the campuses and system. Whereas Jana spoke to in 2024 and 2026 in conjunction with the other shared governance leaders
and President Solomon in support of the importance of state funding for the university to the joint budget committee for the state of Colorado. Whereas Jana is a consumate professional exemplary employee and champion for staff. Now therefore, be it resolved that the board of regents of the University of Colorado
express its appreciation to Jana Hurt for her dedication and service to the university community and the state of Colorado. Further resolved that the board of regents extends best wishes to Jana for her continued success in all
future endeavors. Thank you, Jana. Mr. Chairman, uh I move the resolution of appreciation for Jana. >> It's been moved. It's been moved by Representative McNelte, seconded by Regent Vanril um to adopt the resolution. Is there
further discussion? >> Yes. >> Thank you. I just wanted to thank Jana for her service. It's going to be weird uh to to to not um have you on the Zooms all the time and and and have you at all these things. And so um thank you for
your outstanding work. We're very grateful for for the time you've spent with with with staff counsel and uh we know that that it's it actually it takes time away from from your day-to-day job
and we're and and it's a and it's a it's a burden and and um so we are grateful for all of the time that you have invested for the partnership for the good things we've gotten done together and we will miss you. >> Thank you, Mr. President Reach Vendril.
>> Thank you, Mr. Chair. Jana, I just wanted to say thank you from the bottom of my heart. You have provided me some very helpful criticisms um that have really helped me improve as a regent and I really am grateful to
you. You've also been kind when I didn't deserve it and I appreciate that in a different way. But the criticisms is what I want uh the incoming people to learn from because that's truly valuable and I really appreciate you and your
thoughtfulness and dedication. It is bled through in every moment of our interactions and I am just grateful for you. Thank you. >> Thank you. Is there further further discussion? >> Mr. Mr. Chair, >> Jana, I just want to uh as as the CU
Denver chancellor, thank you for your service in representing staff from across the system. Uh and I also want to thank you for your engagement on our campus and we look forward to continuing to work with you in various capacities, but thank you so much for your service. >> Thank you. Is there further discussion?
Seeing none, roll call, please. >> Regent Monta, >> excused. >> Regent Hood, >> enthusiastic. Yes. Regent James, >> yes. >> Regent McNelte, >> yes. >> Regent Renison,
>> excused. >> Regent Scott, >> yes. >> Regent Spiegel, >> yes. >> Regent Vandreel. >> Oh, yeah. >> Mr. Chair. >> I. >> Motion passes seven to zero.
>> Thank you. Uh the next item is a resolution of appreciation for outgoing faculty council chair Jorge Chavis which I I get the honor of reading. Um whereas Dr. Jorge Chavis demonstrated thoughtful, dedicated and inclusive
leadership in his role as chair of the University of Colorado faculty council from 2025 to 2026. Whereas Jorge fostered a culture of respect and empowerment for all voices in fac faculty council. Whereas Jorge
demonstrated a calm patient executive temperament that supported faculty council accomplishing its responsibilities with minimal minimum drama and maximum effectiveness. Whereas Jorge was a consistent and compelling
advocate for academic freedom, shared governance and faculty well-being with the administration and the board of regents. Whereas Jorge provided strong voice in university testimony before various Colorado legislative bodies.
Whereas Jorge approached his role as faculty council chair with a sincere commitment to the well-being and progress of the entire University of Colorado community, including faculty, staff, students, and university leadership. Whereas Jorge demonstrated a
sincere commitment to issues of diversity, equity, and inclusion as they relate to faculty and faculty governance across the CU system. Whereas Jorge maintained an open and collaborative relationship between the faculty council, the university administration
and the border. Now therefore, be it resolved that the board of regents of the University of Colorado expresses its appreciation to Dr. Jorge Chavez for his dedication, advocacy, and service to the University of Colorado community and the
state of Colorado. Be it further resolved that the board of regents extends its best wishes to Dr. Chavis for his continued success in all future endeavors and for fruitful sbatical in the coming year.
I uh I move the U resolution of appreciation. Is there a second? >> Second. >> It's been moved and seconded. Is there discussion? >> Elliot. Sorry. >> Yeah. I just want to say um you know Dr. Dr. Chavez, you and I have gotten to know each other a lot over the last
couple of years, and I'm always so impressed by your um your intellect, your demeanor, your calm and cool under pressure. Um I don't think everybody at this table knows that Dr. Chavez is not just a professor, he's not just the head of faculty council, he's also an elected
member of a school board. Um so he's got a full plate and he's got kids and a family. Um I don't know how you do it, but you do it so well. Um, and I know you're not, you know, going away forever, but we will miss you. Um, and your leadership. >> Thank you,
>> Todd. >> Thank you. >> So, Jorge, thank you very much. It's been a pleasure working with you over the last year. Uh, you you've been a great representative for for the faculty and I wish I wish all the faculty knew
how well you represent them. you speak up for them and we've gotten some really great things done together and you've gotten you've given u you've you've you've u been just an excellent representative um and I and I look
forward to to to our paths crossing more in the future but uh but for now uh just thank you for your service and I and I wish you well. >> I'll Oh yes, Chancellor. >> Thank you Mr. Chair Jorge. just want to thank you very much for your service in
representing faculty from across the system. We're blessed to have you on our campus as as a faculty member and I wish you well in your sabbatical and I look forward to your return after that. >> And I'll just add I've countless times
walked around the Denver campus and surprised how folks could could uh think that I'm you. Um, I I I say to myself, is it the ponytail, the bun? What is it? I don't get it. But I just want to say
thank you for for your service, not only uh to the University of Colorado, but your service on the school board as well. And wish you uh all the best in your sobatical. >> It'll be even more confusing when you too are Dr. J. >> Yeah. See, if when that happens, they'll
be getting the name right. But uh anyway, okay. So, um it's been moved and seconded. See no further discussion. Uh we'll have a roll call vote on this. >> Regent Monta >> excused. >> Regent Hood. >> Yes. >> Regent James.
>> Absolutely. >> Regent McNelte, >> yes. >> Regent Renison, >> excused. >> Regent Scott, >> yes. >> Regent Spiegel, >> yes. >> Regent Vandreel, >> foresta. >> Uh, Mr. Chair, >> yes.
>> 70 passes. >> Wonderful. That passes. Thank you all to the three of you. Uh the next item on the agenda is the consent agenda. Um is there a motion to approve the consent agenda? >> So moved.
>> It's been moved and seconded. Is there discussion? Okay. It's been moved by Regent Hood and seconded by Regent Spiegel. Got to put that in the record. Uh any discussion?
Seeing none, all those in favor signify by saying I. >> I. >> Opposed. Motion passes. Okay. Next item is the university affairs committee uh discussion and action items. Um
committee chair Vendril, do you have your report? >> I do. The university affairs committee met on May 19th at 12:30 p.m. The full committee was present on Zoom. There was no request for public comment. We heard proposals for two new academic programs
including I will highlight an MS in worker health safety and well-being at CU and shoots which the committee recommended to the full board. Uh both programs were approved on consent minutes ago. We also received information on behalf of the board about
one program name change. We had a presentation and discussion on various CU RO rur rural partnerships including initiatives from all of our campuses. My thanks to Hamilton Bean, Susan Taylor, Mark Deutschman, and Keith Molinar for sharing their time and expertise with
us. We then had a presentation and discussion on hiring of CU grads with perspectives from both industry via career services as well as from deans from various colleges. My thanks to Sarah Tresiaak, David Rifkin, Marvin Lynn, Susan Taylor, Laura Borgel, Jill
Jones, and Daryl Mietta for their time and for highlighting the incredible impact SU degrees have in transforming Colorado. Also, my apologies to anyone whose names I pronounced correctly. Finally, we heard from our campuses with good news. Two campuses shared
excitement about graduates. And as we are in Weld County, away from our campuses, I will share the good news as applied to this county. This spring, we graduated 157 students from Weld County over all of our campuses. And if you would like to hear more exciting news
from all from all of our campuses, please come and join us on our next UA meeting August 25th, 12:30 p.m. on Zoom. Thank you, Mr. Chairman. >> Thank you, Representative Gez. Thank you, Regent. Sir, >> you put a gavvel in his hand and he automatically reverts.
>> Mr. Chairman. >> Yes. >> Thank you. Um, Regent Vandriel, I I want to take a moment to thank you for spending time in university affairs to cover the impact that the University of Colorado is having in rural Colorado. Um, for someone who represents a
district, a big district where a whole lot of the geography is is outside of the Denver metro area, uh, it was really helpful to hear and to learn many of those things that we are doing to be in fact impactful outside of the I25
corridor. Um, because so much of our population is from Fort Collins to PBLO. um we don't often get the chance to talk in these meetings about what we're doing outside of that and uh for you to take time during a university affairs
committee to uh have that conversation to help educate us as regents to help educate um others that were listening on the committee. Um I I thank you for that and appreciate it. Um and and I also say I appreciate your one good thing. Um I think it's a really neat way to wrap uh
the UA meetings and uh I hope you continue to to do that. Thank you, Mr. Chairman. I will not take credit for that. That comes from Regent Ammeritus Smith. >> Wonderful. Thank you. Next item is uh the governance committee report uh
committee chair Hood. >> I know we skipped the break. We're >> Do you want to do the break after I do my It won't be long. Yeah. >> Yeah. >> Uh so the governance committee met on May 14th, 2026. I was present along with Regent Frank McNolte, Vice Chair uh
Regent Calli Renison, and Regent Grace Scott. Um for a full summary of the meeting, please see the materials posted on community. But here are a few highlights. First, the committee reviewed and approved the agenda for the regent retreat scheduled for J July 20th and 22nd through 22nd at Lone Rock in
Bailey, Colorado. We have a great agenda filled with informational sessions, activities, and lots of unstructured time to unwind and engage. I am personally looking forward to this retreat and I'm confident that I will continue to dominate the other regents
in giant Jenga and other lawn games. Second, we reviewed potential location options for our 2027 retreat, which with several candidate loc on the western slope and mountain communities. Glenwood Springs and Steamboat Springs stood out as places of interest for members of the
committee. Third, we unanimously recommended several law and policy changes for placement on the consent agenda at this meeting, and we discussed and proposed revisions to a number of other policies. We had several items that required significant input and discussion between our faculty and
administrators and ultimately everyone agreed on a strong final product. This is always great to see. Fourth, the committee discussed our 202526 law and policy review process and our five-year plan. In short, we are ahead of schedule
and are totally doing better than every other region committee in all respects. Finally, as many of you are aware, our board and this committee have prioritized engagement opportunities between the regents and other governing boards at peer institutions. We
discussed planning for an upcoming opportunity at a football game at Northwestern University this fall, as well as another opportunity at the AGB conference in 2027. We look forward to these engagements so that we can not only learn from our peers at other
schools, but show them what it looks like to be a high functioning and bipartisan board of directors. The next governance committee meeting is August 27th, 2026 at 10 a.m. Thank you, Mr. Chair. >> Thank you. The next item is the finance
committee report, which I'll give. Uh the committee heard uh the quarterly capital construction report from Corey. Uh we also heard presentations about state funded capital construction projects that will be submitted for funding consideration in the 2728 budget
cycle including Mackie Guggenheim Economics at CU Boulder and the cyber security clean room at UCCCs. The committee approved an easement that will give local utility provider access to electrical lines on the SU Boulder
property near Williams Village. We considered an anshoot's renovation project. The the project uh will renovate two floors of the education 2 building to create more classroom space and new shared office hub officing hub
for the school of nursing and shoots continues to lead and bring forward great projects like this one that will re result in more efficient use of space and provide um let's see and provide an
example for all the CU campuses on how best to use our space as effectively as possible. I want to just recognize um Chancellor Elellman, Terry Kurthers, Ryan Davis, Andre Vite for for their
work on this project. It's it's u they're leading the way in that in that respect. All these capital items were forwarded and approved on the consent calendar earlier today. The final capital item was a presentation about campus sustainability and the current
strategic plan metrics related to sustainability in the built environment. During the finance portion of the meeting, Scott Mson gave his quarterly IT status report. Treasurer Sharma reported on the performance of the Treasury pool as of the close of March.
The committee considered two borrowing solutions for Treasury, including one on commercial paper and one on internal supplemental credit facilities. Ed Ed Mills gave an update on the impact spending efforts focused on serving
communities um of Colorado as well as local spending. Chad presented on the latest alumni outcomes data and uh finally with the full let's while the full budget and the associated work is done directly with
the board and the full fiscal 2627 budget is uh something we'll hear about in a in a minute. I want to thank folks in Chad's budget team uh for all their hard work over the past several months. Corey Donaldelsson, Nora Sandival,
Selena Duran, and Emily Parker. Thank you for your hard work. And uh we truly have an ex exceptional group of folks at at the system office as well as on the campuses between the campus CFOs and budget officers who all help in in doing
the detailed work of putting together the CU budget and the experts at system. Uh we we really do have the dream team. Uh I I want to also mention the recent uh hiring of Kate Watkins who's joining
the budget and finance team. Uh we're very thrilled to have Kate with us. She is the former chief economist for legislative counsel and most recently the state demographer. So I mean the the things we're going to be able to do with
her help is um is wonderful. And so we're very fortunate to have all of all of them working on our behalf. Our next meeting is September 2nd and I would invite all of you to join. All right, the next item is
>> how do you feel finance compares to the other committee? >> You know, finance is the best committee. I'll just mention it since I have the microphone. Um, so let's see. >> Mr. Chair, I think you missed the break. >> I >> Yeah, we need >> Let's do the treasures report and then we'll take a break. If you do need to
>> Well, you are. You are. I'm losing. >> I'm losing everybody around us. That's okay. >> Uh, next is the treasures report. Usha, >> thank you, Chair Chavis, and good afternoon, everyone. So this is the
regular treasures report, quarterly treasures report that actually represents um update as of March 31st, 2026, which seems like so long ago, but um
>> what's the photo? >> What was the photo? Tell us what the photo >> Oh, that's like a lake by lost lake by Gibler's past. So it's still within this state. >> It's beautiful. So this chart represents our liquidity position and also the cash flow pattern
of the university over the last two years. Um so the blue segment there represents segment one portfolio which is made up of AAA rated government money market funds with daily liquidity and
that particular segment earned 4.1% over the last 12 months. Let's move down to the gold section that represents enhanced cash portfolio with an investment horizon of of up to 270 days
and it's used for less than daily frequent cash flow needs such as monthly payroll and semianual debt service payments. This segment earned 4.29% over the last 12 months. The gray gray area
at the very bottom of the chart represents segment two short duration bonds and the this segment is meant to fund the cash portion of capital projects, strategic projects and other unforced cash deeds which we have seen
some um cash deeds this year this fiscal year with property acquisition. Uh this segment earned 4% over the last 12 months. So here these market indicators are presented on an absolute basis not
relative. If you look at the quarter ending um March 31st it was not a good quarter because all the indicators are red. However our uh 12 month rolling 12 month returns like the in those indicators are still green. Um April I
can tell you that April however was not not only reversed the negative performance of the first quart calendar quarter but also gained quite a bit. Uh for example both S&P 500 index and MSI Aqu earned over 10% for the month
showing a resilient market despite all of the mixed headlines we are getting. Uh Bloomberg aggregate which in the first quarter was slightly negative also had slightly positive return for month of April. Finally, the treasury pool had negative
return for the quarter. Uh so did the benchmark. But recent or April performance was 3.4% and almost 13% for rolling 12 months. That's as of April, end of April. So this um I don't know if I you want me
to talk about economic indicator or not keeps on changing. Um just related to the previous slide, GDP increased around 2% in March on an annualized basis. Headline CPI was um 3% on an annualized
basis in March. The most recent CPI as of April was 3.8% on an annualized basis. March unemployment rate was 4.3% and April was unchanged from March. Federal Reserve Bank has kept the
short-term interest rate steady at least several in last several meetings creating a pretty quiet calendar year. Uh last interest got red cut was on December 10th of 2025. So as of March 31, 2026 and I just want to call out this chart there are lots of
numbers here. This contains a lot of information that is all related to the treasury pool. As of March 31, 2026, the pool balance on market value basis was 4.1 billion compared to about 4 billion
a year ago. An increase of about 105 million over last 12 months, mostly by market performance investment earnings. The chart on the bottom or the pie chart represents our asset allocation. Um that's was most recent asset allocation
of the pool at the end of March. So we had 19% in cash, 36% in fixed income, 36% in equity and 9% in long-term investment pool which we commonly refer to as LTIP. And that particular section
consists of about 80% equity like investments and 20% fixed income like investments. And I'm happy to report that the asset allocation was within investment policy guidelines. And then last but not least table on the bottom
right um that represents returns for the poor over several time horizons. The relative performance over these periods is somewhat mixed but the absolute performance except for the immediate quarter is pretty good. While return net of fees lacks the benchmark for the
immediate quarter and I'm talking about relative performance one and three year the inception to date return is ahead of the benchmark. I don't know why it's not Okay. And I think this was the chart that chair Chavez was talking about. This is also this also represents
performance of the pool but on a different this this is slightly different than the one on the slide before the this one represents market I mean value of the pool on the same date at two different basis whereas the one
in the front or the slide before represented that uh 12 month different. So the market value of the pool at the end of March was 4.1 billion
versus the cost basis was 3.5 with an appreciation of about 579 million. So now I'm going to shift to debt portfolio of CU University of Colorado.
Debt capacity ratio and the weighted average cost of capital are reported. They're updated once a year right after fiscal year ends. So this is the last time you'll be seeing these numbers when we do this update. Next next time you'll
actually see new numbers on that. So the um projected debt ratio for fiscal year 2026 was 3.56 and then the weighted average cost of capital was 6 2.78 and then the limit the regent policy
limit is 7% and state statutory limit is 10% but I can tell you that that 10% uh restriction is going away with the most recent passing of the bill and it was kind of like meaningless anyway because we had a stricter limit at 7%.
So the debt balance at the end of March was 1.75 billion um for like all of the campuses and that also includes our related entity debt for Kovac of 54
54 um million current debt portfolio mixes 77% tax exempt fixed rate and 23% taxable fixed rate that excludes the cubec data of 54 million. CU's bonds are rated AA1 by
Moody's and AA plus by Fetch. That's just one notch below the best rating of AAA. The commercial paper is rated P1 F1 by the same rating agencies. These ratings were in mid August last year. So that's all I have. I'm ready
for questions. >> Thank you, Usha. Are there questions for Usha? >> Seeing none. Thank you. >> Thank you. Thanks everyone for sticking with it. We got back uh some time and so let's take a break 15 minutes and uh
when we return Chad will present on the operating budget. Thank you. >> Thank you. I don't think it's will make sure Thank you so much.
Okay, everyone, we're going to get started. Up next is Chad with the operating budget presentation which includes an action item. >> Thank you Chad for being here.
>> Thank you for having me. Please, please proceed. >> Okay. Thank you, Mr. Chair. Um, so this is the time of the year where we take the the building blocks that the board had approved at the April board meeting relative to tuition fees and compensation and build out the rest of
the university budget. Um, so headed into next year, we're um we're forecasting revenues that come in at $6.84 billion dollars. Um, we talked about what part of that one of the drivers on the ENG budget or the operating budget in particular is
enrollment. And so this is what we're expecting in terms of enrollment headed into next year by campus on in terms of a year-over-year percent change. Um, just like we talked about with scenarios in February and what we presented to the board in April, um, we're investing in
salary and benefit increases for our for our employees, institutional financial aid for our students, and then, uh, various campus budget initiatives. Um, just as a reminder, um, of course, the big building blocks of our budget include state funding. So, we're grateful to the state and the
legislature that supported the restoration of the current fiscal year funding cut. So, a restoration of about $9.5 million for all of higher education and CU's share of that was about 2.5 million. Um, in tandem with that was an expectation that the majority of the
governing boards in the state would cap resident undergraduate tuition at three and a half%. A couple of exceptions to that were at UNCC, which is a 4% cap, and the community college is a 5% rate cap. The state didn't increase any of the financial aid awarded to um
institutions, but they did eliminate um financial aid to private institutions in fiscal year 2627. That was one of the the puzzle pieces that afforded them the ability to invest and restore the current year funding cut. Other areas where CU was successful and we were
successful in our lobbying efforts to uh to maintain funding on a year-over-year basis amidst a really challenging envir budget environment uh are here on the slide. we shared these with you in April. Um, something that's a little bit different in this year's budget, um, as
we're planning on a year-over-year basis is an over what we're forecasting is an overall decline in research expenditures. Um, when you look at this systemwide, it's about a 4% decrease in research expenditures from the current year headed into next year. At the top
part of the slide, we talk about what that means in terms of a percent change and a dollar change by campus. And then in that middle section, we talk about awards. So awards are a little bit in a rears. So in our most recent snapshot of awards, we believe that there will be a
year-over-year decline and recognize when a campus gets an award, they spend that down over a number of years, whatever the term of the grant is. We're just trying to show it both ways. Now, um, that's kind of a doom and gloom picture there at the top. However, um CU is positioned to do really well in the
future and um that's that's kind of noted at the bottom of this. So, so while this while there is a little bit of a year-over-year decline, uh we believe that we're positioned to do well in the future. And that's through areas where we're know we're know we're positioned well, including things like
quantum, cyber, and and healthcare type research. Year-over-year change in our total budget. So, that 6.84 84 billion is a 2 and a.5% increase on a year-over-year basis. Um, each one of these uh additional segments here, the these
other rows are what the year-over-year changes by campus. Um, I know that we had a chance to talk to many of you before this. Um, and all of this information I should have started with is publicly available and posted on board docs. There's a lot backing up all of these little percent changes things
in terms of individual budget sections that where you can discuss what the the innies and outsies are that are driving the change. Um and so so happy to speak to that uh as as we get to the campus sections on just the operating budget. So this is the core educational expense.
CU's budget is growing by 3.6%. That varies by campus. Um, and this is driven largely by state funding, tuition rate changes, and forecasted enrollment. When we look at enrollment headed into next year, which is the right hand
column here, um you can see that where that circle is by campus is is an all-time high. So Boulder and Anshutes are forecasting record enrollment headed into next year. um UCCCS in Denver um kind of peaked back in fiscal year 1819
and then you can kind of see that kind of flattening out as we get over time. We'll talk about where they're headed next year in a moment. Um in terms of where CU is forecasting its revenue headed into next year. Um it's about a quarter of it is from health care services. So that's clinical care
provided. We get money for that auxiliary which is that blue section there. That's somewhere between the three and four o'lock on the dial. So that's height housing, parking, dining, um athletics. Then you go to the bottom end and you can see that there's tuition fees, indirect cost reimbursement, which
is tied to federal research activities, private grants and contracts, and I'm about the 11:00 of the dial and that's uh state funding. So if someone asks CU, how much money do we get from the state in terms of our total budget, it's around 5%. And then you and then we um
round out kind of that working our way around the pie chart at about um 13% of our budget from federal, state, and local contracts. In terms of where we spend our dollars at CU um so these align up with our mission. So what are some of the core tenants of our mission?
We provide healthcare. We educate students. We conduct research. And that that illustrates that when we look at where our expenses are in our total budget. So the board approved tuition rate increases in April. U what we try to do is we work our way through the year is
look at what other governing boards in the state have done. Our board meeting in June is a little bit earlier. Um and so we have some pending dates or pending data points up here where other governing boards haven't publicly publicly posted or taken action on their tuition. But you can kind of observe
what other governing boards have done in terms of uh tuition rate increases for resident undergraduate students here. And you can see community colleges at the top. They're um utilizing their 5% rate increase on a year-over-year basis. And then when we look at tuition
combined with fees and mandatory fees, this is the total total. Um so um kind of look at what we look like relative to other governing boards in the state. In terms of uh campus projections, something we do in this June time frame in addition to looking at our um fiscal
year 2627 budget is forecasting out on a 5-year time horizon. And so we look at that by campus what they're forecasting over the long term. So we'll talk about this more when we get to the campus sections. One area where we're not going to um do the five-year forecast today is for UCCCs. We'll come back and share
that information in September as well as what that five-year budget forecast looks like for UCCCs at that time frame, but we'll talk about the other campuses when we get to their sections here. So, shifting to Boulder um and starting off with Boulder rather um same enrollment picture that we talked about
back in April. So, forecasting total enrollment growth um primarily driven on the undergraduate side. Um the board took action on tuition compensation, some strategic budget investments. Um what does Boulder's budget composition
look like? Their total budgets uh over 2.5 billion dollars. Half of that's ENG budget. About a quarter of it is their auxiliary budget, about a quarter of their restricted budget. If we were to zoom in on the operating budget, that gold segment there, um the biggest
revenue share is coming from non-resident students followed by resident students. And in terms of the the campus's operating budget, about 10% of their funding comes from the state. Um same enrollment picture that we showed you here in April. A little bit different way to illustrate that is here
where each one of these segments represents a student type. So the gold segment's continuing students, the blue segment are new students, and then the gray segment are transfer students. And so you can see um on balance, all of those areas are growing at Boulder. The
new students are are nearly flat on a year-over-year basis there in the blue segment. On the graduate side, um total new students are up, continuing or down. Um part of the driver there for the the the N is kind of small there, just to point out. was about a change of 29
students for new graduate students. So, traditional graduate students year-over-year are down. In terms of new students, that growth is being driven by the law school in in different professional grad programs. Um, in terms of the outyear forecast for enrollment at Boulder, um, it's pretty
flat. And so, when you look at the blue text at the top, that illustrates that they're they're planning to be around that 39,400 students. And and if you look at student types, you can see a little bit of a decline in terms of resident undergrad and an increase in non-resident
undergrad. So we take that information and we marry that up with some different budget assumptions for revenues and expenses. And we say in the outy years, this is what we're predicting in terms of revenue. So campus budget growth somewhere between four and 3% over those years. There's a line about halfway down
there that's a it's a big negative number that you might be like, "Hey, what is that number?" That reflects what the board took action on a couple of years ago when the board approved eliminating and mandatory fees and shifting that over to tuition. So as cohorts complete out that money just
shifts up to the tuition row. We look at that revenue. We compare that to expenses and um this illustrates how the campus would be able to invest in salary increases, continue to invest in institutional financial aid and just those other aspects of their operation that are just those mandatory things,
whether that's insurance, utilities, and that sort of thing. Looking at CU Denver, um same picture we showed you. Go ahead, >> Chad. Can you go back to slide 22 or 21? Uh that that one right there. Um, is
there a particular reason why the model is projecting a reduction in resident undergraduate with a corresponding increase in non-resident undergrad? Yeah. So, we actually had a big jump in
resident undergrad that we're seeing that over oversized class pass through. So, it's returning actually to to where it would have been without that big jump. Okay. Thank you. Okay. So, in terms of Denver, um
year-over-year increase that we had talked about back in April, um the board approved tuition and comp increases that we talk about here. In terms of the budget composition at CU Denver, um a larger percent share of their budget is their operating or ENG budget. A little bit smaller percent share from their
auxiliary and restricted budgets. If we look and zoom in on their operating or ENG budget, the biggest revenue component for them are are is resident students followed by non-resident students and state funding. Um when we look at their year-over-year
enrollment, same picture we showed you back in April, just a slightly different way to illustrate that. you can see that they're up on transfer students, new students, as well as continuing students on the undergraduate side. Um, I'll point out that that transfer student, that gray segment that you see there is
is a record relative to these four years that we're looking at the screen here. So, that's good news. Um, and then in terms on the graduate side, um, new students are up and continuing students are down a little bit. Part of that is the cohort effect as a larger cohort is graduating, not unlike what we just
talked about with Chancellor Schwarz on the resident undergraduates at CU Boulder over the long term. Um so so the five-year forecast in terms of enrollment at CU Denver um shows um shows a lot of growth on the resident
undergraduate side. So that growth is driven by two things. one improve student retention as a result of the campus's implementation of a lot of retention strategies and then two you know fruits of the labor associated with um that CU Denver direct guaranteed
admissions with school districts in the metro area and that's what's driving a lot of that growth in that resident undergraduate which is which are around a 2% year-over-year growth over that time frame. So, we take that information, we look at it here, and you can look there's there's a lot of growth in that first
year, that 8.1%. But I'll point out that that's actually kind of um there's something going on there that's not quite not quite like showing that 8% to be entirely accurate. And that's if the funding that is currently a direct appropriation to AHECK or to come back
to CU Denver, that's what that would look like in that year. That's what current law says. So, that's how we built the revenue coming in. It's possible that that would stay with AHECK in the future, but that will be a conversation with the state legislature and the budget committee next fiscal year. And then over time, you see budget
growth around 3 to 4%. When we look at their expense budget, you can see that the campus is investing in salary at the top. Also investing in institutional financial aid and then a lot of those mandatory expenses uh associated with insurance, utilities and
again in fiscal year 2728 um you see a a big percentage about halfway down in terms of general operating and that's tied to what the current law says in terms of ack funding. Shifting to UCCCs, the campus is forecasting about a 1.4% 4% decline. Um
the mix of this is a little bit different than what we had talked about back in um April. So the undergraduate resident student enrollment is decreasing not just not quite as significant as it was. And then graduate students on net is down. However, resident graduate students are
increasing on a year-over-year basis. Um the board approved tuition and compensation increases at the campus. the campus is in the midst of um balancing what is a structural gap. So let's talk about that for a minute. So going into fiscal year 2627 the expense
pressures that the campus have are driving about $15 million in expense and the balancing measures that the campus is taking are about 11.1 million and that that's that $2.1% budget growth. So what are some of those expense drivers for the campus? So, so
if you look at this at a high level, the campus is prioritizing two things. It's prioritizing its employees through being able to support increases and benefits as well as compensation and then a big increase in terms of financial aid. And so that's building an
ongoing revenue stream to continue financial aid allocations to students. Some mandatory cost increases. that second to the last bullet there, that's holding harmless current students that would otherwise be negatively impacted by that tuition tier. So, they're holding those students harmless as they
metriculate through their academic career. And then just the expense associated with debt service for borrowings. So, those were the expenses that went up. The balancing measures that took place are here. So, about a million dollars of operating reductions. Um, over half of that 11.1 million or
6.6 six million are tied to salary savings as a result of eliminating around 75 um vacant positions across schools and colleges and business divisions. Um um the campus was really diligent in trying to identify those those budget budgeted
salary rows that they could eliminate rather than um having to eliminate any filled positions. and then other reductions tied to reduced stipens, fewer work, and on a one-time basis, the campus will will pay will balance through about 800,000 out of reserves
for fiscal year 2627. In terms of the budget compens uh composition at UCCCs, um similar to CU Denver in all these spaces, so on their total budget, most of it's on their ENG side. When you zoom in on the ENG budget or the operating budget, uh the largest
revenue source is resident tuition. followed by state funding and non-resident tuition. Um, when we look at the year-over-year enrollment forecast, this is what that looks like. Another way to illustrate it is here. So, you can see transfer students are up, but new students and
continuing students are forecasted to be down. And then, um, new graduate students down a little bit flat. Um, underneath the hood here is an increase in resident graduate students. Shifting over to CU anchoots. Um total
enrollment is forecasted to increase um that's driven by growth in a lot of programs from undergraduate nursing to various graduate programs. One area where there's a little softness and a decline on a year-over-year basis is the school of public health. Um the board
approved tuition increases at the campus comp increases and then their budgetary outlook is primarily driven by mandatory costs and just what how much revenue they're getting from the state. Um this is a different picture than the other campuses in terms of what is the total campus budget composition. So at
CU Anshoots um the largest revenue stream is actually their auxiliary budget and that's primarily driven by their health care um or their clinical care that's offered from their providers and that's that dotted line that you see around there. So in terms of state funding for the total budget of anes
it's actually less than 4%. If we look and zoom in on the ENG budget, um, state funding is actually over 30% of their budget. And so, um, of all of our campuses, the the one that relies most heavily in terms of their educational mission on state funding is actually CU
Anshoots. Um, looking at their enrollment on a year-over-year basis, you can see the changes here. Another way to illustrate that this is um res or this is undergraduate nursing program only because that's the only undergraduate program. Um the new students and
continuing students are a little bit off here in terms of which bucket individuals are in because of how the summer cohort works. So some new students are actually in that continuing bucket. Um, in any event, total undergraduate enrollment is going up. And then when we look at graduate
enrollment at the campus, um, pretty flat in in the new student space and continuing students up. Um, over the five-year projection, what Anshoots does is just projects flat enrollment, but this is what that would look like. So, between a one and two and a half% increase in their overall budget
on a year-over-year basis. and then they illustrate what their um expenses are tied to this when we get to system administration. So this is all of the this is we use the same words here but they're actually different things. So we have our ENG budget our auxiliary budget
restricted budget. ENG budget is the intercampus cost allocation or ICCA that's a lot of the shared services that system provides to the campuses. The auxiliary budget is tied to um treasury activities, our self implementation and
um operations of of family as well as our insurance practice. That restricted budget there is primarily a result or that revenue is primarily foundation monies that are tied to the system advancement operation as well as a specific endowment that's operated out of the system off office based on the
terms of that endowment. Um if we zoom in on that ENG budget um which is ICCA you can see that the biggest um things that that's covering the expense for are our IT background or our UIS procurement employee services uh followed by
executive administration some direct billings from university council and then just the benefits associated with those employees. Um so looking ahead for the rest for the upcoming fiscal year um that we'll come back to the board in
September and we'll talk about um enrollment. We'll do the five-year projection for UCCCs. In October, we'll notify the board the outcome of um revenue thresholds for compensation at CU Denver. In November, we'll talk about unobligated and capital details pursuant
to APS 4058. And then we'll go through the budget cycle for next year uh from February, April. And at this time in June next year, we'll be considering the fiscal year 2728 budget. And with that, I'm happy to take any
questions if anybody has any. >> Any questions for Chad? >> Nope. Okay, seeing none, that is an action item. So, um, is there a motion to approve the operating budget for 2627?
>> So, move. >> It's been moved by Representative Vendril, seconded by >> Second. >> God, I keep doing that. Sorry. Regent Vendril, seconded by Regent Hood. Is there
opposition to Well, all those signified by saying I >> right. >> Sorry. >> Discussion. >> Discussion. I I already asked if there was any further discussion on on the motion. >> No. Okay. Seeing no discussion.
All those in favor signify by saying I. >> I. >> I. >> All those opposed? No. >> Motion passes. say thank you. >> Sure. >> Uh thank you. I I just wanted to thank Chad and his team and the teams on the
campuses who have worked for months to put to to put the budget together and um and have provided multiple updates to the folks in the room. So, thank you to everybody and thanks to everyone on your team, Chad, who and they're sitting
right back there and the campus CFOs who are sitting around to for all their work and and let me just second that because we do get a chance, those of us on the finance committee do get a chance to see your presentation ahead of everyone else
and uh or at least alongside everyone else and and uh ask questions and really get into the details. So, thank you again. Thank you. And I was remiss and I'd also like to say thank you to my entire team. So Corey, Emily, Selena,
Ryan, Nora, everybody. Um, and welcome Kate. And then thanks to all the campus CFOs and budget officers. So thank you everybody. This I get to be the tip of the spear, but it turns out that they did all the work. >> Thank you. >> And I did a little bit of it.
>> Okay, the next item on the agenda is the strategic plan. And guess what? Chad is involved in that along with Mike Lightner and Angelique. >> Maybe not. I don't know. I think she's I think Angelique is zooming in today.
>> Okay. >> Um so, thank you for the opportunity to uh provide an update on our work on the strategic plan. We have been um we have been continuing to do our work in this space. um just to cover kind of what we've done to date. And I should call out that we've been continuing to work
with Oh, there's a formatted thing. We've been continuing to work with our strategic plan 2.0 working group. Um we are utilizing our framework and structure that we have here. So, we're here talking to the board. All of the stuff is happening that leads up to that
where we have conversations um frequently just amongst amongst the co-chairs which are myself and Mike Lightner. continue to rely on the working group, those um those supporting groups there that you see in the gold buckets, and then we're here talking to the board to make sure that we're continuing to engage uh with leadership
here. Um so, what have we done since we started this several months ago? Um we we conducted these individual meetings with all the board members and leadership at the campuses um a year ago at this time between March and June. Um we've continued to provide updates at
the board board meetings and we'll continue to do that. We'll do a a more robust update where we are at the July retreat um following where we are today. We've uh had numerous working group meetings and these range anywhere between a couple of hours to like a half
a day and this just lists off some of those dates that we've met. We've briefed steering committee the steering committee which is comprised of the presidents and chancellors uh multiple times over the last year and a half. Um and then we've had a lot of um opportunity to engage with shared
governance. We are utilizing our constituent engagement tool that was available to all uh student staff and faculty as well as the CU trustees to give us feedback on um and then um Angelique myself and and co-chairs have been meeting very frequently multiple
times sometimes multiple times per week. Um, so just just refreshing everybody's memory at the April board meeting, we talked about structure and how we were marrying up these two concepts of what are things that are foundational to what we'll do that are that are kind of evergreen in
nature. So that's kind of this 12-ear strategic plan idea and then a framework and then within that we would have threeear strategic cycles and we identified these six priority areas um that we would that we would have over that entire time frame. So right now where you see that little orange arrow
on the top left um we're evaluating what's in that first strategic cycle so that we can come back and and share that with you at the July retreat. Um one thing structurally that's a little bit different as we were talking at the working group is um a lot of these things have interplay between them. So
they're linked with one another and ultimately if we do all of the the first five priority areas well um we're ultimately lifting up this idea of this like love Colorado concept that's embedded in this in this strategic plan ideas. And so this is kind of how we're seeing all of these different priority
areas fit together as we continue our development in this space. Um of course all of this in service to every Colorado, every Colorado community and beyond. um summarizing kind of our snapshot right now of what each one of these priority areas mean. So what do we mean
by when we say education and student success and how will we measure progress in that space. Um so each one of these slides we have done a ton of word smithing on this blue text and we'll continue to refine it but this is our this is kind of where we are right now.
Um, and it's possible we might tweak it a little bit, but but there's been a lot of um group edit to these words, and this is all publicly available on on community and and we're um we look forward to continuing to engage with you if you have thoughts on anything that needs a little tweak here. Um, we've
talked about how we'll measure with progress. These are things that we know we will do um for these metrics. And at the tail end, I'm going to talk about um what we might do with other metrics here. But these are the things that we're looking at in terms of student success. So, the four-year grad rate, six-year grad rate, firsttime uh
freshman retention rates, total enrollment. Something that's italicized here in the bottom. Um, a lot of the discussion that we were having at the working group, what we heard from the board, uh, is that we don't really have a a good success metric for part-time students or transfer students. So, we're
trying to develop something that would look at kind of an inu initial student retention rate. So the industry standard in higher ed is that retention rates are first-time full-time freshmen. Um but turns out a lot of our students aren't that. And so we want to be able to track and and and be able to say how are we
doing in serving students that come to CU in one year. Do we actually retain them their second year so that they're making progress on their academic career no matter what type of student they are. So we're evaluating how we can build up a framework of metrics to look at that on a year-over-year basis.
in terms of healthcare and clinical excellence um patients served across Colorado. This might look there might be some addition additional things that um campuses other than CU inshoots might want to have in this space where there's other campuses that provide healthcare or clinical care. And so we're
evaluating how we can take that into account as we continue to build out this particular priority area in terms of research creativity and innovation. Um the easy metric to point to right now is is research awards and we'll look at that in terms of total
research awards. So research awards as well as gifts towards research is what we're thinking currently. Um there's other ideas that we've socialized that we're considering about how do we measure progress for things like creative works or just innovation in general. And so campuses are considering
that right now too. In terms of workplace of choice, um we're looking at um continuing this notion of of retention rates, so faculty retention rates and staff retention rates on a year-over-year basis. And then, of course, if there's other things that we can consider that we that we get
feedback on along the way here as we hash out what this particular priority area looks like. Um stewardship, efficiency, and resilience. So, we're looking at gifts and fundraising, sustainability. Um there's a lot of other things that we've thought about to consider here and this probably isn't
everything that will eventually be in there, but these are things that we've identified for now. And then finally, uh the love Colorado, how we're going to measure that. Um we're not we're not quite there just yet. So we're thinking through what will be the most meaningful thing to track progress over time and
aspire to set a goal on for the first strategic cycle. Um so in terms of setting goals and developing additional metrics um we're working with campuses right now uh and and designated campus leads to set goals
and areas like I had said in all of these priority areas. Um, we want to be able to to take into account the uniqueness of each one of our campuses and they might have a different um area that they want to pursue or kind of lean in on to make progress on on this first
three-year strategic cycle. And that could be specific metrics to them that are either qualitative or quantitative in this first three years. And that we're looking to get that information back from the campuses towards the end of this month. Um and then looking ahead from where we are today to what to what
kind of lies ahead of us um we'll finalize the metrics. will present kind of that final plan to the board in July and then we'd bring forward for forward the the finalized plan for consideration for the board. And um what we did last time for the current strategic plan was
um the board actually did adopt a resolution and they they kind of saw the plan at the summer retreat and had an opportunity to marinate on it, think about it, give feedback and we came back and the board adopted a resolution of support for the prior strategic plan. So we would plan to pursue something like
this for this current iteration and I'm happy to take any questions if you have any >> questions for Todd Regent Hood. >> Uh thank you so much for that presentation. So just a couple of questions comments. Uh I think we need
to be able we need to figure out a place to work in the report that you just had commissioned about what our alumni are doing. Um like their salaries and their areas of um employment that to me is you know those are somewhat anecdotal but also data kind of quantitative results
about what our alumni are doing. I don't know if it fits into the love Colorado or the first one, right? I think it's the first one in my view, but um so I think we should be incorporating it there. I also think we should be making room for anecdotal um qualitative
measures too, not just data. Um sorry, I'm speaking too close apparently. uh examples of alumni or things that our research is impacting or doing I think would be really helpful just for stories. Um and then on the workplace
satisfaction uh goal there is a survey that I know I've taken at organizations I've worked for that show like satisfaction with your workplace and how engaged you are and um committed you are the organization is to a bunch of different
factors. And so I think we should be looking at surveys like that that can be um provided to our staff and faculty and other employees holistically, but I know that's challenging, but I would recommend we look into that. >> That's great. Thank Thank you for that
feedback. A lot of that echoes what the working group is um shared and what campuses have shared, and so we're we need to figure out how to round out kind of or or square the circle to to take that type of stuff into account, too. So, thank you. Further questions for Chad?
I just want to thank uh you Chad, Mike Lightner, Angelique Foster, and the whole group that worked on on the strategic plan, and that was a lot of work, and we appreciate it. Thank you. Thank you. All right, we're a little ahead of
schedule. What do you know? Uh the next uh item is uh border regions discussion and action items. This is our opportunity to talk about whatever we'd like. So, does anyone have anything they'd like to talk about? >> I do.
>> Please do. >> Thank you, Mr. Chairman. Um, Regent Vandreel, I want to thank you for your hospitality hosting us here in your hometown. Um, I I do enjoy Gley, Colorado. Um, and appreciate the opportunity to come up here. Uh I think that it's
understanding that it is extra work for the for the folks who work for us in the board office and the administration. Uh that the logistics are a little more complicated than when we have these meetings on our campuses. Uh to be the University of Colorado means that we are going out into Colorado and that means
that we're not simply spending time on our campuses. And so, uh, not only the shift to to have at least one of our board meetings someplace other than one of our four campuses is really important. It's the outreach tours, uh, that are done. It's the general outreach
that is always done that we're not a part of, uh, that you direct, Mr. President. Uh, but it is important for for us to get out and and I do the the point is made during public testimony that that this is a long ways from Denver. Um, but when we're always having
meetings in Denver, it's a long ways for everybody else. So, um, the way that we balance that is we provide multiple opportunities every year for people to come and address this elected governing board for the University of Colorado and
um really enjoyed the opportunity to be here in Gley. Um, enjoyed your dinner recommendations, Regent Vandriel. Thank you for that and uh look forward to to our next opportunity to go and experience some other part of Colorado uh for one of our meetings off campus.
So, thank you, Mr. Chairman, and thank you, Regent Badril, for your hospitality. >> Well said. Any other conversation? Yeah, >> I have several points here. >> Thank you, Mr. Chairman. Uh, I will note to anyone who wants recommendations on
anything related to Gley while you're still here, come come talk. We we we can chat. I can I can tell you some good things. Uh, I'm really grateful to everyone for visiting this this fine town. Um, I have joked truthfully before
that this is one of the places where there are the number of kids is growing and so our opportunities for further impact is growing. Um, and I'm grateful we're here to and experience that. Um, and more importantly for uh hopefully for some of our community leaders to
experience us and to take us more seriously. Um, you know, engaging helps that and I'm really grateful we're doing that. And that said, I'm looking forward to the next place we go and where I get to learn about next, even though I probably won't get to sleep in my own bed when we
go there. Um, so thank you to everyone for that. My second point uh as is tradition at these meetings I have a bit of poetry for you >> perfect >> on
on the nature of graduation and in tribute to Colorado Shakespeare Festival starting this weekend. So, oh graduates of Colorado's halls, this spring 11,000 voices rise. From mountains shade to where the prairie
calls, you meet the f you the future with uplifted eyes. 8,000 undergraduates now stand, their learning forged through challenge, work, and care. 17 from Gley's honored land whose beauty hosts this gathering we share. 4,9
419,000 came before with more than half still serving Colorado's needs. Their earnings rise beyond peers by more and through their work prosperity proceeds. CU alums lift fortune and our state. We heal, build, teach, and shape our civic
fate. Thank you, Mr. Chairman. >> That was beautiful. Any Yes. >> Just really briefly. So when I was a little kid growing up in Chicago, um we had family friends who were huge CU u they were alumni but they were huge
boosters for the university and I grew up knowing that I would go to the University of Colorado Boulder and um it was really because of them that that happened and um uh so they were you know really important and transformative for
me in my life and the reason I I think went to see you is because of that family and uh uh the wife that family her name is Robin Stru then Robin Rule um she grew up in Gley Colorado um and
her dad is a 1950 something graduate of the law school at C Boulder um she and her sister and their spouses went to CU Boulder um and they routinely come back for the games but I I always feel a strong sense of connection to Gley
because of the genesis of where they came from and pl you know planting the seed of my love and connection for CU really started right here. Um so it's really a pleasure to be here for this meeting in where it all started. So
thank you Mark. >> Any further conversation? I'll just simply say thank you for allowing me to uh chair the committee today. It was a lot of fun. It was real. I'll just say that. and um we did a we did a lot we got through a lot of uh
work both in executive session and and in the public setting as well. So uh thank you. Any further business? Seeing none, we're adjourned.