Budget Highlights 2006 - 2007

State Appropriations:  The state formula computation resulted in a base formula increase of $89,491.  The legislature included an increase of $2,916,761 for compensation at 4.5% for faculty and staff and $486,127 to cover the increase in the ERA (retirement) contribution.

Tuition: Tuition rates have historically been increased at the same level the legislature has increased the tuition credit in the funding formula.  The final bill from the legislature includes an increase in the tuition credit of 3% for both resident and non-resident tuition.  CNM's budget for next year includes an increase in tuition of 3% for both resident and non-resident students.  The out-of-district rate includes an increase from $7.50 to $8.50 per credit hour.

Registration and Course Fees: The registration fee remains at $40.

Mill Levy: The property values for Bernalillo County went up 5.8% last year.  The estimate for next year is calculated with a 5.8% increase over the current mill levy budget.

Salary: Salary increases are always a significant factor in developing CNM's annual budget.  The salary increase for all non-union employees is a recurring increase of 4.5% which matches the compensation increase from the state.  The compensation package also includes a non-recurring lump sum payment of 1% for all full-time employees with a minimum payment of $300. 

Fixed Costs: Increases are expected for utilities, health insurance, general insurance, telephone services, computer maintenance agreements and postage.

Recurring Expansion: $292,400 is provided for new instructional programs, funds for the Aviation Program, and personnel for Tax Help New Mexico.

Non-Recurring Expansion: $899,560 will fund non-recurring costs including classroom furniture, retention, computer services and training, as well as requests specific to departments.