Anchorage, Alaska (KINY) The Board of Regents approved a budget increase for the first time in four years.
The fiscal year 2019 budget includes $327 million in state general funds. The state legislature increased funding by $10 million over last year.
The legislature also approved an additional $5 million for capital projects. This will help the University system catch up with a large back log of deferred maintenance project estimated to cost $1 billion. The capital budget totals $40 million.