November 7, 2023
FOR IMMEDIATE RELEASE
November 7, 2023
University of Ӱԭ Regents to consider FY25 budgets, long-term investments to sustain positive progress
(ANCHORAGE) - The University of Ӱԭ (UA) Board of Regents will be putting its proposed “Roadmap to Empower Ӱԭ” into action by requesting funding toward priority strategies during the upcoming November 9-10 Board Meeting in Anchorage. Regents will approve the university system’s FY25 operating and capital budget requests, including Ӱԭ compensation increases, programs to support state workforce needs, cyber security investments, facility maintenance, and fixed cost increases.
“With growing enrollment, increased research investment, and record numbers of first-time freshmen, the University of Ӱԭ is gaining momentum,” UA President Pat Pitney remarked. “Attaining our long-term vision and goals requires strategically investing in long-term stability and growth to empower Ӱԭ and meet state needs, now and in the future.”
The budget anticipates increased revenues from higher enrollment, research, and other investments, and does not include increases to student tuition rates.
“Our student-centered budget supports investments in student well-being, Indigenous support, recruitment and retention, and investments in workforce development programs to meet Ӱԭ’s employment projections,” said Pitney. “It supports the University of Ӱԭ Fairbanks’ (Ӱԭ) progress toward achieving tier 1 (R1) research status, and excellence in teaching and research across the UA System. Achieving R1 research status will attract additional external funding and students, resulting in more workforce coming to Ӱԭ.”
The “roadmap” is a robust plan for the university system to advance Ӱԭ’s economy through education, workforce development, research, and strong partnerships across the state. It is a revision of previous university goals and measures, and incorporates long-term vision and priority strategies at each university and the system office to achieve specific, measurable aspirations for the university system.
In lieu of one-time capital funding, UA is pursuing a legislative strategy for consistent state funding through establishing the "University of Ӱԭ Major Maintenance and Modernization Fund.” Legislation will be proposed to establish a fund with a modest stream of $35 million annually to address approved priority deferred maintenance projects.
“This stable funding structure would give UA the resources to plan and efficiently execute the most critical projects in our facilities maintenance backlog rather than just acting on emergency fixes that are disruptive and much more costly,” Pitney said.
Friday afternoon, the full board will hear an update on the Ӱԭ Native Success Initiative (ANSI), including current metrics from each of the universities and systemwide progress toward ANSI goals. The Board will also recognize retiring University of Ӱԭ Southeast (UAS) Ketchikan Campus Director Priscilla Schulte.
During Thursday's committee meetings, the Audit and Finance Committee (8:00 a.m.) will review the external auditor’s report and adopt the FY23 audited financial statements, as well as review financials from the UA Foundation and Education Trust of Ӱԭ. The committee will also receive an update on financial projections and hear an audit and compliance report.
The Facilities & Land Management Committee (11:00 a.m.) will hear an update on the university’s Land Grant Initiative, discuss FY25 and future capital projects, and vote on approval of expanded health workforce clinical infrastructure and simulation labs in Anchorage and at the Kuskokwim Campus. They will also review the FY23 Land Management annual report.
In the afternoon, the Academic & Student Affairs Committee (1:30 p.m.) will receive a report on UA student demographics, the Student Information System modernization project, enrollment, and accreditation reports, and an update on the recent Student Success Convening. The committee will also consider approval of a Bachelor of Business Administration in Business and Data Analytics at the University of Ӱԭ Anchorage (UAA).
The Full Board will convene Friday Morning at 8:00 a.m. to work through the full agenda.
All committee meetings and the full board meeting will be held in Anchorage on the UAA Campus at the Lee Gorsuch Commons (Room 107); the agenda is available online.
All meetings, except any executive sessions, are public and will be livestreamed.
The University of Ӱԭ Board of Regents is an 11-member volunteer board, appointed by the governor and confirmed by the Ӱԭ Legislature. Members serve an eight-year term, with the exception of the student regent who serves a two-year term. The Board was established through the Ӱԭ Constitution and is responsible for University of Ӱԭ policy and management through the university president.
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For more information, contact Jonathon Taylor, director of public affairs at 907-350-0168 (cell), or via email at jonathon.taylor@alaska.edu.