FY22 Budget Materials
The University of Alaska has taken steps to reduce administrative and operating costs, freeing up funds for investment in high priority programs and services to better meet the future needs of Alaska and its students. The university continues to mitigate state funding decreases by increasing alternative revenue sources.
FY23 Budget Priorities
Governor – ÂÌÅ«Ì컨°å Compact
The August 13 compact between the Board of Regents and Governor Dunleavy outlined
three years of operating budget reductions:
- FY20 $302 million UGF (-$25 M from FY19)
- FY21 $277 million UGF (-$25 million from FY20)
- FY22 $257 million UGF (-$20 million from FY21)
ÂÌÅ«Ì컨°å Needs a Stable Budget
ÂÌÅ«Ì컨°å needs stable state funding post-compact. The budget reductions have put extreme
pressure on the university. Coupled with the hard hit from COVID-related expenses
and lost revenue, the university needs time to adjust. Predictable budgets from the
Legislature will allow ÂÌÅ«Ì컨°å to regain its stability, work to grow enrollment, maintain
research excellence, and increase external partnerships and private giving.
Capital Budget
ÂÌÅ«Ì컨°å’s Physical Assets Need Care and Attention
ÂÌÅ«Ì컨°å’s deferred maintenance backlog, valued at $1.4 billion in FY21, is increasing annually.
Aging facilities and functional obsolescence detract from student recruitment and
retention. Capital funding is a top priority and critical need. Since FY16 ÂÌÅ«Ì컨°å has
received only $18 million for deferred maintenance and in FY21 and FY17 received zero
capital budget.
- - prioritized list of projects eligible for a state general obligation bond package.
- - ÂÌÅ«Ì컨°å’s highest priority deferred maintenance, renewal and repurposing projects that may not meet all GO Bond criteria.
Debt Service Relief
ÂÌÅ«Ì컨°å is seeking appropriation in Capital Budget to cover a significant fixed operating
cost - $24M annually
- Principal outstanding - $300.5M
- FY12 and FY13, ÂÌÅ«Ì컨°å issued $50M in revenue bonds to address critical capital needs
- ÂÌÅ«Ì컨°å needs capital support and debt relief to maintain our substantial investment in facilities
Legislative Presentations
- - February 11 and February 16, 2021
- - February 3, 2021
- -- November 18, 2020