06/28/2024 | Press release | Distributed by Public on 06/28/2024 20:10
FOR IMMEDIATE RELEASE
June 28, 2024
(FAIRBANKS, AK) - The University of Alaska system's FY25 Budget has been signed by Governor Dunleavy. The enacted state appropriation for UA is just over $331.3 million; combined with federal receipts and other revenues, UA's total FY25 operating budget stands at just under $934.5 million. The budget represents continued strong investments in the university's educational programs, people, and infrastructure and will allow UA to continue empowering Alaska.
"We're grateful for the Legislature's support of our funding requests and to the Governor for retaining the investment in education," UA President Pat Pitneysaid. "We look forward to working with them to build on the progress of the last several years."
FY25 Budget Details
UA's FY25 state operating budget appropriation represents an approximately $22.9 million increase to base over FY24, and includes:
The enacted budget also includes key capital investments. The capital budget is just over $24 million in state funds, including:
"The university's FY25 request and the enacted budget recognizes that fiscal restraint at the state level continues, and our Board of Regents requests for investment next year (FY26) will be focused on fixed costs and key priorities as a result," said President Pitney.
Celebrating enrollment growth and student success
The budget comes as the University celebrates two consecutive years of enrollment growth, underscoring UA's critical role in empowering Alaska's workforce, and growing public confidence in the university system. Spring 2023 marked the first year-over-year enrollment increase since 2011 and in Spring 2024, student headcount was up another 5%. UA's number of first-time freshmen increased by 16% over Fall 2022.
Empowering Alaska
The university plays a vital role in the state with research and programs focused on jobs and industries important to Alaska's economy. Since 2011, 26,948 studentshave graduated from programs relevant to the state's high-demand industries. More than 2,800 graduates received degrees or certificates for Academic Year 2024 from UAA, UAF, and UAS. Together, our universities provide the vast majority of Alaska's post-secondary education through academic programs ranging from short-term workforce development to Ph.D. programs recognized as best in class globally.
The University of Alaska inspires learning, and advances and disseminates knowledge through teaching, research, and public service, emphasizing the North and its diverse peoples. The UA system's three universities (UAA, UAF, and UAS) are separately accredited institutions with 13 community campuses and extended learning centers across the state of Alaska.
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For more information, contact Jonathon Taylor, director of public affairs at 907-350-0168 (cell), or via email at [email protected].