Swordsmyth
07-14-2019, 01:16 AM
The University of Alaska will consider a rare declaration of financial exigency after lawmakers failed to override Republican Governor Michael Dunleavy’s veto of $130 million in funding for the system.Dunleavy’s veto last month drove a nearly 41% cut in state funding, an unprecedented pullback that the University of Alaska warned could result in layoffs and slashed programs. Credit rating companies Moody’s Investors Service and S&P Global Ratings had warned the budget cuts could lead to a downgrade of the system of three universities with more than 26,600 students.
As part of the fiscal 2020 budget, Dunleavy had made about $400 million in line-item vetoes, slashing funding for Medicaid and senior benefits, according to his office. He said the cuts would help close the estimated $1.6 billion deficit the state faces.
The University of Alaska Board of Regents will consider declaring financial exigency during a meeting on July 15, the system said in a statement. Such a declaration would allow the university system to rapidly cut services and personnel.
More at: https://news.yahoo.com/alaska-lawmakers-fail-override-unprecedented-140446080.html
As part of the fiscal 2020 budget, Dunleavy had made about $400 million in line-item vetoes, slashing funding for Medicaid and senior benefits, according to his office. He said the cuts would help close the estimated $1.6 billion deficit the state faces.
The University of Alaska Board of Regents will consider declaring financial exigency during a meeting on July 15, the system said in a statement. Such a declaration would allow the university system to rapidly cut services and personnel.
More at: https://news.yahoo.com/alaska-lawmakers-fail-override-unprecedented-140446080.html