The University of Colorado system had "moderate financial health" during fiscal 2011-2012, according to a new report to the legislative Joint Budget Committee.

Colorado State University and the University of Northern Colorado had "weak financial health" in the report, which was based on an assessment done by the state committee's staff members. The report examined publicly funded universities using a financial analysis index with a 10-point scale, and is timed for release before universities testify before the Legislature.

Universities scoring a 1 have very little financial health, according to the scale. Institutions scoring a 3 have a relatively stronger position, while universities with a 10 have the strongest financial situation.

The CU system scored a 3.8 on the list, ranking it third behind the Colorado Community College system - which includes Front Range Community College - at 5.9 and Colorado School of Mines at 4.2.

CSU scored a 2.6 while UNC scored a 2.0, according to the report. The report used institutions' financial statements to measure resources, debt and performance.

The report focuses on the financial struggles of two institutions, Adams State University and Western State Colorado University, which scored below "0," or -0.3 and -1.3, respectively.

"Both institutions are highly leveraged," the report states.

The report comes amid a proposal by Gov. John Hickenlooper to raise higher-education funding by 15.5 percent, or $101.8 million, if universities agree not to increase tuition by more than 6 percent. The increase would restore inflation-adjusted higher education funding to the level of the mid-2000s, according to a legislative report.