The Colorado Mountain College Board of Trustees unanimously approved the fiscal year 2024-25 operating budget for the college on June 25.

According to the college, the $131 million budget is designed to ensure that CMC’s expenditures grow at a rate near inflation while remaining a highly competitive employer.

The budget includes a 4% cost of living adjustment, a merit pool equal to 2% of total payroll for all full and part-time staff and faculty, and annual compensation benchmarking and retention adjustments where applicable. 

In December, the board intends to use the authority in Colorado Senate Bill 23-108 to temporarily lower the college’s mill levy for 2024 property taxes collected in 2025. CMC plans to collect revenues from residential and commercial property taxes equal to only the total amount collected in 2024 plus standard inflation of 4%. 

The board voted to formally oppose two property tax ballot initiatives — Initiative 50 and Proposed Initiative 108 — because of their projected negative funding impacts for CMC, higher education and other special districts. 

The board also approved a lease agreement with the Roaring Fork School District RE-1 to operate an automotive program in a building owned by the school district in Glenwood Springs.

The new facility will be CMC’s fourth location offering automotive programming, joining existing programs in Gypsum, Rifle and Salida. The college plans to begin offering automotive courses to a 12-person cohort at this new location in spring 2025. 

The board unanimously approved a three-year employment agreement with incoming CMC President Matt Gianneschi, whose term will begin July 1.