FY24 Budget

Final outcomes from the state expected May 2023.

FY24 UA BOR Approved Operating Budget Request
In November 2022, the Board of Regents approved UA's FY24 operating budget request at $319.9 million, an increase of 8.4 percent from the FY22 level of $295.1 million. This represents a stable base level of state funding that includes modest increases for compensation, other operating fixed cost increases, and programmatic needs to build capacity for Alaska's workforce.

FY24 UA BOR Approved Capital Budget Request
The BOR approved capital budget request includes $72.3 million for UA deferred maintenance (the UAF portion is approximately $38.5 million, if funded). The UA System FY24 capital budget request also includes $21.2 million for facilities modernization, which includes two UAF facilities: Lola Tilly Repurpose for Student Engagement and University Park Early Childhood Development Center.

FY24 UA BOR Approved Operating Budget
FY24 UA BOR Approved Capital Budget

FY24 UAF Operating Program Budget Request
UAF's FY24 programmatic operating budget request is crafted with three major theme areas in mind: faculty capacity for teaching and research, enrollment and retention, and workforce development. It is centered on UAF Strategic Goals, UA Goals and Measures, and incorporates guidance issued by the UA System. UAF also requested fixed cost increases for funding in compliance and critical support areas for emergency response services and dispatch, IT capacity, NCAA/TIX and employee onboarding. The UA Board of Regents approved this request in November 2022.

FY24 UAF Operating Program Budget Request - Approved November 2022

FY24 budget guidance provided by the UA System Office asked for the universities to consider the following guidelines that will be used to develop the overall FY24 budget request:

  • Priority focus areas as provided in the goals and measures
    • Increase enrollment through retention in degree programs for Alaska’s workforce
    • Develop workforce and focused economic development initiatives
    • Promote Arctic policy, research, and leadership
    • Strengthen teacher education through the Alaska College of Education Consortium
    • Advance the Alaska Native Success Initiative
    • Build finance industry partnerships to expand business workforce
    • Increase fisheries and ocean sciences presence in Southeast Alaska
    • Revise business models for efficiency and modernization
  • Stability
    • Staff and faculty compensation necessary to attract and retain quality employees
    • Other fixed-cost funding
    • Bridge funding as enrollment rebounds
    • Key program investments for economic return
    • Expansion of WWAMI program
    • TVEP programs mature to UGF funding
    • Fund balance 4% (± 1%) of operating expense
  • Revenue
    • Earned revenue transition to greater revenue contributor
    • Partnership opportunities
    • Infrastructure package opportunities
    • Enrollment/Tuition (including dual enrollment)
    • State funding environment
  • Capital funding for deferred maintenance and renewal projects
    • Governor and Legislative Opportunities
    • Elections
    • Address rural campus bandwidth issues
    • Address IT/Broadband redundancies and resiliency
    • Timing issues with eligibility for Alaska Performance Scholarship (APS) and Alaska
    • Education Grant (AEG)
    • Consider advocating for student loan forgiveness
    • Consider advocating for K-12 (e.g. middle college legislation)
  • Key Communication Areas
    • Continue to rebuild public trust in the university
    • Affordability/Accessibility
    • Quality and Value of Higher Education
    • UA's contribution to the fueling of Alaska's Economy & in meeting state workforce needs
    • Impact of research in solving issues important to Alaska and the world