Budget Cycle

Mines operates on a fiscal year from July 1st to June 30th. Please use the arrows below to see our budget cycle and important dates.

July

  • The Budget Office rolls and enters the budget into Banner.
  • Departments are responsible for creating their annual Spending Plan by July 31st.

September - October

  • Q1 Forecast and Vacancy Templates are due by September 15th.
  • Census and enrollment
  • Cost of Attendance: Tuition, Fees, and Charges
  • Mandated Costs

December - January

  • Q2 Forecast and Vacancy Templates are due on December 15th.
  • Operational and Strategic Initiative Reviews.

March

  • Q3 Forecast and Vacancy Templates are due on March 15th.
  • The Budget Committee meets to review next fiscal year recommendations:
    • Salary
    • Tuition increases
    • New fees and charges
    • Prioritize new fiscal year strategic budget requests
  • The Finance and Audit Committee meets to review revised recommendations.

April - May

  • The Budget Office finalizes the next fiscal year’s budget requests.
  • The Board of Trustees meet to approve next fiscal year’s budget.

June

  • Fiscal year end clean up.

Budget Guidelines

Financial Management Guidelines

The financial position and future of the Colorado School of Mines is dependent on several variables including enrollment, research growth, changes in industry demand, and competing institutions at the national and international levels. In order to capitalize on these variables and respond to the challenges they may present, the university must maintain a strong financial position, flexible resources, and accountable financial management. These Financial Management Guidelines are designed to provide the ability to track, forecast, and project current and future resource needs in order to respond to the changing financial environment and to continuously strengthen the university’s financial position.

Capital Budget Guidelines

The Colorado School of Mines capital budget is impacted by several factors including the
implementation of a new strategic plan, the growth in enrollment and research, and the availability of
state funds for deferred maintenance projects. These Capital Budget Guidelines have been developed to ensure all
competing factors are considered and any use of capital funds is fully vetted and align to the overall
mission and goals of the university.

SB003 Guidelines

Colorado School of Mines intends to use fee-for-service funding from the State of Colorado to provide access and affordability to Mines for Colorado’s best and brightest students. These SB003 Guidelines have been developed to identify what our fee-for-service funds will be used for.

Student Fee Guidelines

In accordance with C.R.S. 23-1-123 (HB94-1362), the Mines Board of Trustees adopted the Institutional Plan for Student Fees and Other Charges. The Guidelines for the Board Policy and a listing of Fees and Other Charges that the Board of Trustees approved for FY 2018-2019 are provided here for reference. Note that the Guidelines for the Board Policy document includes important updated information for the fees and other charges process. The Colorado Commission on Higher Education Tuition and Fees policy specifically states that the institution’s governing board must approve all fees assessed to students, including those charged for a specific course

Budget Forms and Templates

The Quarterly Spending Plan and Forecast is due on July 31st to show your department’s annual spending plan (blue table). Each quarter, you will update the plan to show actual expenditures and estimated spending for the remainder of the fiscal year in the green table. Quarterly forecasts are due on:

  • September 15
  • December 15
  • March 15

Do you have a forecast change you would like to request? If so, fill out the Quarterly Forecast Change Request Form and submit it to our office with your Quarterly Spending Plan and Forecast.

Each quarter, our office will email you if there is a vacancy in your department. Please return the Quarterly Position Vacancy Template to our office with your Quarterly Forecast Template. Didn’t receive an email but have a vacancy in your department? No problem, simply fill out this template!

Is there a fee you would like to implement? Do you need to increase your fee amount? If so, please fill out the Fee Template – New or Increase template and follow the guidance outlined in the current year Fees and Charges Memo.

Do you manage a fee? If there is no change to the fee or you would like to eliminate the fee, please fill out the FY20 Fee Template – No Change or Elimination and follow the guidance outlined in the current year Fees and Charges Memo.