Arizona Regents seek $732M funding boost amid budget cuts

Fred DuVal, Treasurer for the Arizona Board of Regents, joined “Arizona Horizon,” to discuss the Arizona Board of Regents decision to put in a formal request for $732 million more in state funding.

This comes after the state Legislature and Governor Katie Hobbs reduced its investment in the universities by nearly $97 million. This was in part due to policymakers correcting a state deficit.

Earlier this past week, ASU announced they would be issuing an updated tuition surcharge. This surcharge will be roughly $350 and will be applied to all on-campus students. Additionally, the university has decided to close its Lake Havasu campus.

Last year, the University of Arizona discovered a nine-figure budget deficit, which was later on chopped down to roughly $63 million.

Northern Arizona University has not yet fully responded to the updated budget cuts. However, the school’s state appropriation makes up a bigger portion of its overall budget than ASU and UofA, at just over 20%.

Officials stated the cost-saving measures were needed as a result of this year’s budget cuts. These officials made a variety of cuts, including reducing administrative costs and implementing a months-long hiring freeze.