From the President
The University of Colorado continues to successfully advance its mission of serving our students and our state through prudent and resourceful financial administration. With CU Boulder’s Leeds School of Business projecting a downturn in its 2019 economic forecast, this fiscal responsibility is more critical than ever. We have efficiencies in place to help the University further prosper in good times, and prepare for any challenges down the road. These continued efficiencies have helped the University earn the highest levels of confidence by the state, our constituents and financial institutions.
The University generates an estimated economic impact of $12.35 billion annually for the state, including the hospitals that University physicians staff and patients we serve on the CU Anschutz Medical Campus. The University is a substantial driver of Colorado’s economy as the system and its four campuses directly employ about 35,000 faculty, staff and student workers, making the University the third-largest employer in Colorado.
For the year that ended June 30, 2018, the University’s net position was $1.65 billion. You’ll note this is $707 million less than June 30, 2017; this is because of the impact of expected investment returns at PERA and a new Governmental Accounting Standards Board statement on post-employment benefits. Please read through the Management’s Discussion and Analysis section of this report for more information.
Despite these changes, our primary funding streams have continued to thrive as we increase revenue resources and improve on our efficiencies. The University achieved a record level of research funding in Fiscal Year 2018, with faculty securing $1.053 billion in federal, state and local awards – a 1.8 percent increase over the previous year’s total.
The University also set a new record in fundraising this year thanks to $440.4 million in private contributions, reflecting an increase of $54.1 million. The preliminary figure for Fiscal Year 2018 marks the ninth consecutive year in which the University has exceeded the previous annual total.
Our financial health ensures that we meet our obligations to serve our students, state and nation. Accountability is important to the University and we will continue to share our progress in reports such as this and online at cu.edu/accountability.
Bruce D. Benson
© Office of University Controller 2018