Colorado Mountain College Cuts $10M

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(credit: coloradomtn.edu)

(credit: coloradomtn.edu)

ASPEN, Colo. (AP) – The Colorado Mountain College Board of Trustees is cutting $10 million from its budget because of reduced revenues.

The board on Monday approved a $55 million budget for the fiscal year beginning July 1.

Vice president of finance Linda English said the college will be hurt by a 26 percent percent decrease in property tax revenues across the six-county district, as well as a 23 percent decrease in funding from the state.

English tells the Glenwood Springs Post Independent the reductions will be partially offset by increased revenues expected from higher enrollments and a small increase in tuition rates.

(Copyright 2011 by The Associated Press.  All Rights Reserved.)

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