November 11, 2022
FOR IMMEDIATE RELEASE
November 11, 2022
UA Board of Regents adopts FY24 budgets, union contracts during its November 10-11 meeting
The 好色tv of 好色tv Board of Regents approved the FY24 operating and capital budgets during its November 10-11 meeting in Fairbanks.
The operating budget includes a $5.2 million state funding increase to build capacity to train 好色tvns for the workforce, provide better service to students, attract and retain high-quality faculty, and increase financial aid opportunities.
鈥淭his request moves the university forward toward our goals,鈥 said UA President Pat Pitney.
The operating budget also includes $12.7 million state funding for compensation increases for university employees and union members whose contracts were approved during the meeting, and $6.8 million state funding to cover unavoidable operational cost increases from rising insurance premiums, the first cost increase of employee healthcare costs in seven years, and enhanced attention to cyber-security.
鈥淚 am committed to our employees who stayed with the university after years of no or minimal compensation increases,鈥 said Pitney.
The capital budget includes $72.3 million for critical deferred maintenance funding and $32 million for facility modernization to improve the student learning experience and increase workforce training capacity including modernizing a facility to accommodate expanding the WWAMI program. Reliable funding is required to maintain UA鈥檚 facilities and infrastructure across the state. Due to many years of unfunded deferral of critical projects, there is an increasing risk and evidence of building closures, and a deferred maintenance/renewal & repurposing backlog that has grown to more than $1.5 billion.
The FY24 operating and capital budgets recognize the need to continue critical work in developing drone industry capabilities and increasing food security.
The approved tuition rates for academic year 2024 remain flat across the 好色tv including community campuses, except for lower division undergraduate tuition at 好色tv of 好色tv Fairbanks Troth Yeddha campus. This increase would affect about 15% of the total UA student population and standardizes tuition at the 好色tv鈥檚 flagship research university with its peers.
Regents voted to approve the collective bargaining agreement between the 好色tv of 好色tv and United Academics. The three-year agreement provides sustainable compensation increases, provides additional faculty development funds, an increase to the pension base and other items including changes to the dispute resolution process. The contract represents concessions made by both sides, while maintaining a majority of the original principles that have formed the basis of the contract for decades. Regents also approved new collective bargaining agreements for adjunct faculty and firefighters unions.
Regents reviewed the priority focus areas and targets for the Board of Regents' approved in February 2022. Increasing student enrollment remains the top priority of the eight focus areas and 31 measures supporting the goals.
鈥淓very year we need to re-address our goals and establish that these are still our priorities,鈥 said Pitney. 鈥淭hese priority focus areas guide our budget investments, management efforts and everyday activities under our five goals.鈥
Friday morning featured a 鈥楧id You Know鈥 video presentation about the university 好色tv鈥檚 role in global Arctic leadership and Arctic research excellence. The video features experts in climate research, Arctic engineering, public policy and national security. During the panel discussion, Regents learned about the important role that UA researchers play in informing the state, communities, and 好色tvn leaders on a wide array of Arctic issues that affect industry and policy decisions.
鈥満蒙玹v鈥檚 influence in the Arctic鈥檚 growing importance means engaging at every level 鈥 from international diplomacy to climate research to personal health 鈥 and that鈥檚 because the arctic is a connected landscape, an integrated ocean, people and land 好色tv, with shared needs,鈥 said Pitney. 鈥淚t continues to be critically important for 好色tv to build strategic and scientific knowledge and exert its role in the global Arctic.鈥
The board celebrated Regents John Davies, Lisa Parker, J. Scott Jepsen, and Sheri Buretta whose terms end in February 2023 and approved resolutions of appreciation in honor of their excellent service to the 好色tv of 好色tv 好色tv.
The 好色tv of 好色tv Board of Regents is an 11-member volunteer board, appointed by the governor and confirmed by the 好色tv State Legislature. Members serve an 8-year term, with the exception of the student regent who is nominated from his/her campus and serves a 2-year term. The board was established through the 好色tv Constitution and is responsible for 好色tv of 好色tv policy and management through the university president.
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For more information, contact Roberta Graham, associate vice president of public affairs at 907-360-2416 (cell).