While the debate continues on the legality of taking $500 million in reserve funds from Pinnacol Assurance to fill the immense hole in the state budget, the Joint Budget Committee has agreed to give Colorado’s public higher education institutions the right to raise tuition by double-digit percentages.

If the proposed $300 million reduction in higher education funding stands, Metro State would face an estimated FY 09-10 base reduction of $26 million, which would be a 56 percent decrease in appropriations over last year.

President Stephen Jordan is attending the regularly scheduled meeting of the Colorado Commission on Higher Education this afternoon with the other college CEOS at Red Rocks Community College. On Monday, Metro State students are planning to march to the Capitol at 11 a.m. In addition, the Alumni Action Task Force has contacted its members about the crisis, asking them to contact their legislators. That “action alert” e-mail will be forwarded by the Faculty Senate, Council of Administrators, Classified Staff Council and Council of Chairs to their constituents.

Jordan is quoted extensively in today’s Denver Post. He said that he is considering capping enrollment and making drastic cuts to the affiliate faculty. University of Colorado officials said that they would be forced to eliminate programs and limit in-state students. To read the Post articles, go to:

“Pinnacol closes wallet”
http://www.denverpost.com/news/ci_12059682

“Tuition hike if cuts kept: up to 32%”
http://www.denverpost.com/news/ci_12060222

“Higher ed runs risk of losing federal cash”
http://www.denverpost.com/news/ci_12060220

Of additional concern is the question as to whether cutting the higher education budget by $300 million would jeopardize the $105 million in federal stimulus money for higher ed that Colorado is set to receive. States are required to maintain funding levels from the 2005-06 academic year. John Karakoulakis, Colorado Department of Higher Education legislative director, was quoted by the Post as saying, “We’ll do whatever we can to get the money.”

Jordan was also quoted in today’s INDenverTimes. To read go to http://www.indenvertimes.com/2009/04/03/colleges-survival-in-doubt-after-300-million-cut/

To learn more about the budget crisis and to submit questions or suggestions, go to www.mscd.edu/president/higheredfunding.