June 28, 2024

FOR IMMEDIATE RELEASE
June 28, 2024

Governor Dunleavy signs the �鶹��ý FY25 budget with base increases to support an Empowered Alaska

(FAIRBANKS, AK) - The �鶹��ý system’s FY25 Budget has been signed by Governor Dunleavy. The enacted state appropriation for �鶹��ý is just over $331.3 million; combined with federal receipts and other revenues, �鶹��ý’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 �鶹��ý 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,” �鶹��ý President Pat Pitney said. “We look forward to working with them to build on the progress of the last several years.”

FY25 Budget Details

�鶹��ý’s FY25 state operating budget appropriation represents an approximately $22.9 million increase to base over FY24, and includes:

funding to address the negotiated 2.5% increases to compensation and the new graduate student union wages;
funding to cover operating cost increases such as insurance, cybersecurity, and utilities;
funding to improve �鶹��ýA campus security; and
one-time funding to support �鶹��ýF’s goal of achieving R1 research designation ($12.5 million from the Higher Education Investment Fund, and $2.1 million in receipt authority).

The enacted budget also includes key capital investments. The capital budget is just over $24 million in state funds, including:

$14.8 million for high-priority deferred maintenance projects,
$6 million in state funds to support �鶹��ý’s drone excellence,
$3.2 million in state funds for carbon capture and energy projects, and
the ability to use $5.6 million in federal receipts for �鶹��ýF’s Early Childhood Development Center, among other items, thanks to the efforts of U.S. Senator Lisa Murkowski.

"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 �鶹��ý’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%. �鶹��ý’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 students have 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 �鶹��ýA, �鶹��ýF, and �鶹��ýS. 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 �鶹��ý inspires learning, and advances and disseminates knowledge through teaching, research, and public service, emphasizing the North and its diverse peoples. The �鶹��ý system’s three universities (, , and ) 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 jonathon.taylor@alaska.edu.