Governor reaches funding agreement with UA System

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JUNEAU, Alaska At a press conference held on Tuesday, Governor Mike Dunleavy and UA Board of Regents Chair, Mike Davies, signed a compact agreement that outlines a three year plan for the University System. UA will lose $70 million dollars in funding from the state's operating budget over the next three fiscal years.

At a press conference held on Tuesday, Governor Mike Dunleavy and UA Board of Regents Chair, Mike Davies, signed a compact agreement that outlines a three year plan for the University System. (From the Office of the Governor via Facebook)

For this year (Fiscal Year 2020), they will lose $25 million dollars. The agreement also states that the UA system will receive $5 million dollars from the capital budget. In total, the system will be receiving $307 million dollars for this year.

Per the agreement, the UA System must make yearly reports to downsize their reliance on the state while cutting costs. That report is due December 4th of each year. It also calls for the governor to lend his support to multiple programs and facets of the UA System, including the Alaska Performance Scholarship and the university's continued efforts on land grant transfers; something the governor supported while he was serving in the legislature.

Chair Davies spoke on how important this agreement is to the UA System.

"Most importantly, the governor's supplemental provides much more certainty and confidence for our students, staff, faculty, and communities we serve," said Davies. "One of the biggest problems have been the uncertainty. This agreement will provide a great deal of certainty, so we can begin the process of moving forward together."

With this agreement, all $110 million dollars the legislature allocated to the UA System in House Bill 2001, will not be vetoed by the governor.