FAIRBANKS, Alaska – The University of Alaska Board of Regents has approved the university’s operating and capital budget for fiscal year 2019.
The Fairbanks Daily News-Miner reports the budget includes $327 million in state unrestricted general funds. This year’s state appropriation is a $10 million increase from last year’s state funding.
University of Alaska President Jim Johnsen says this is the first budget increase for the university in four years.
The capital budget for fiscal year 2019 totals $5 million in unrestricted general funds. This includes a $2 million appropriation from the Legislature and an additional $3 million the university expects from a separate deferred maintenance appropriation that was directed to the governor’s office.
Regents say the capital budget, and $40 million from the operating budget, will work to address the university’s nearly $1 billion deferred maintenance backlog.