As the semester ends and we move ahead toward next year, investing in our faculty and staff––and in the experience they offer our students––is paramount.
Though the path ahead is not certain and there are challenges, there is good news to report on these investments. First, we are staying true to our commitment to end furloughs and temporary pay reductions at the close of this fiscal year on June 30.
At the same time, in recognition of the challenges employees met during the past year’s pandemic and the compensation cycle shift approved by the University of Colorado Board of Regents on April 8, the campus is providing, for this fiscal year only, a one-time, non-base-building payment to eligible faculty, research faculty and university staff employees. You can read more about the specifics of the payment in this Q&A on the Human Resources website.
Also, as approved by the Colorado legislature, classified employees will receive a 3% across-the-board base-building merit increase effective July 1, 2021.
I am also pleased to report that, pending CU Board of Regents approval of the 2022 fiscal year budget, the minimum wage at CU Boulder will increase to $15/hour, effective July 1. This move will allow us, at a critical time of economic recovery and expansion of the job market, to make a vital investment in the stability of our workforce––stability that results in a more enriched and impactful student experience and that makes CU Boulder a more competitive employer.
Added to the tuition buy-down for students that we announced last month, the measures I’ve outlined here are an important signal of our values: investing in the people who shape the academic experience we offer and the research mission we carry out each day. I am grateful to our Government Relations team for their work in securing these funds for the university, and to the leadership of Provost Russell Moore, Chief Operating Officer Patrick O’Rourke, Chief Financial Officer Carla Ho’a, Chief Human Resource Officer Katherine Erwin, Executive Vice Provost for Academic Resource Management Ann Schmiesing, and their combined teams, for their leadership in helping the campus to meet the most profound set of fiscal challenges in the recent history of the university.
I wish those challenges did not require planning ahead for budget cuts for next year, but smaller enrollment numbers this year have, regrettably, made that impossible. As we confront that challenge, let me again thank our faculty and staff for your continuing spirit of shared sacrifice and commitment to our students and our mission.
CU Boulder Chancellor