Colorado State University's Board of Governors approved the 2012-2013 budget that includes a salary increase for faculty and staff, the first pay increase in four years. The budget that was approved also includes an increase of tuition for next year. Tuition will go up 9-percent for undergraduates.

"After three years of some of the toughest budgets in CSU history, we're very pleased to bring forward a budget that keeps tuition increases in the single digits and provides the first pay increase to our employees in four years," said CSU President Tony Frank. "While we're still taking a reduction in state funding, it's far less than what we had built into our original budget planning last fall."

Northern Colorado Business Report ]