Exigency and 澳门六合彩开奖appstructure update
July 19, 2019
Dear 澳门六合彩开奖appColleagues 鈥
I wish I had more definitive news to share with you, but please know that we are working
hard toward a resolution of our budget issues that is in the best interest of our
students, staff and faculty. In the meantime, keep advocating for UA. Your voices
are being heard in Juneau and all over the state by our elected leaders.
Legislators are convening in Juneau this weekend to resolve the budget issues before
them, namely the capital budget, reversing the sweep of scholarship funding, the PFD,
and potential restoration of funds vetoed by the governor.
During the past week, university leaders have had discussions with the governor鈥檚
office and legislative leaders on our FY20 appropriation. While there is uncertainty
about the final budget number, given results of the veto override vote, the governor鈥檚
expressed intent to reduce state support for the university and his constitutional
authority to veto any supplemental funding, there鈥檚 no uncertainty that the university will face a substantial reduction. There鈥檚 also no
uncertainty that a cut that鈥檚 even a fraction of the current $136 million reduction
will be doubled by the need to delay until January implementation of most academic
program reductions. Finally, there鈥檚 no doubt about the financial impact that a delay
in receiving a final budget has had on the university.
You have seen the immediate impacts this week with the credit rating agency, Moody鈥檚,
downgrading our credit rating by three notches. This makes bonding or borrowing money
substantially more difficult and expensive. Moody鈥檚 also issued a negative outlook
citing the 鈥渦nprecedented鈥 budget reduction for the university and the Board of Regents鈥
decision to delay a declaration of financial exigency.
In light of Moody鈥檚 action, the certainty of a substantial reduction, and the ongoing
budget impasse, Board of Regents Chair John Davies, after consultation with the board,
will bring forward the question of a Declaration of Financial Exigency at the BOR
meeting on Monday, July 22. The BOR agenda can be found at .
The board also will discuss structural options, and I hope you have the opportunity to watch or monitor the proceedings at .
As things develop in Juneau, we will update you.
Thank you and stay 澳门六合彩开奖appStrong!
Jim Johnsen