University of Alaska regents cancel financial declaration

ANCHORAGE, Alaska (AP) – The University of Alaska Board of Regents has cancelled a declaration enabling it to take drastic financial steps in the face of budget cuts.

The Anchorage Daily News reported Tuesday that the regents voted 10-0 Tuesday to rescind a declaration of financial exigency made nearly a month ago.

The cancellation of the declaration will slow the speed of job cuts and program eliminations in the university system.

The declaration came after Republican Gov. Mike Dunleavy vetoed $130 million in state funds for the university in addition to a $5 million cut by the Legislature.

Dunleavy has agreed to the Legislature’s proposed $25 million university funding cut in the current fiscal year beginning July 1, with plans to cut another $45 million over the following two years.
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Information from: Anchorage Daily News, http://www.adn.com