UA Regents approved budget request

The University of Alaska Board of Regents has approved a spending plan that calls for a 4.2 percent increase in operating funds.

The request will be forwarded to Gov. Sean Parnell, who will present a budget proposal to the Legislature for the fiscal year that begins July 1.

The regents’ proposed operating budget seeks authorization for spending $963 million, including $383 million form the state general fund.

Federal dollars, tuition, contracts, lease earnings and other revenue would produce the remaining $580 million.

Regents also approve a proposed capital budget that calls for spending $233.9 million in state funds.

Regents in September approved UA President Pat Gamble’s proposal to raise tuition by 2 percent for resident undergraduates and 4 percent increase for non-residents. Increases take effect for the fall 2013 semester.