UA Regents approve $960M budget, 5 percent tuition hike

The University of Alaska Board of Regents on Wednesday approved a total budget of $960 million for next year, which includes a $350 million request from the state.

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That’s a 7.6 percent increase over this year’s budget, and does not take into account a $15.8 million cut recommended by the state Office of Management and Budget.

UA President Jim Johnsen says he and other university leaders will work to produce a “contingency budget” in the coming months as the full fiscal picture becomes clearer during the upcoming Legislative session.

Johnsen says the contingency budget’s goal will be to make more targeted cuts on a case-by-case basis, rather than across the board.

After public testimony and discussion, the Regents also settled on a 5 percent tuition increase, which will kick in starting in the Fall 2016 semester – down from the original 9 percent increase proposed at the beginning of the meeting.