University of Alaska regents vote to declare financial exigency

University of Alaska regents have adopted a declaration of financial exigency, enabling immediate budget cuts, including expedited faculty layoffs. Regents approved the declaration at a meeting in Anchorage today in response to an over 40 percent reduction in state funding.

Board chair John Davies called it a sad day, and one that comes despite overwhelming public support for the university, as demonstrated during statewide public hearings last week, during which he says 86 percent of those who testified, spoke in support of reversing university cuts, and other state funding vetoed by Governor Dunleavy.

“But on the other hand, we have as indicated a fiduciary responsibility to make sure that the institution survives. And I think unfortunately, we are right now grappling with survival,” Davies said.

Regents approved the exigency declaration 10-to-1. It only allows actions which Regent Lisa Parker, the sole no vote, pointed out are not clear. “I don’t see through this declaration that we’re going to be able to be saving $11 million a month to reduce that burn rate. That’s not been indentified,” Parker said.

Read more: https://www.alaskapublic.org/2019/07/22/university-of-alaska-regents-vote-to-declare-financial-exigency/