UMS Board of Trustees approves new budget

Published: May. 24, 2022 at 3:10 PM EDT
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BANGOR, Maine (WABI) - The University of Maine System Board of Trustees has approved a new budget for the 2023 fiscal year.

The approved budget stands at $616.7 million, up nearly $31 million from last year’s base budget.

The system plans to use a large portion, nearly $145 million, from all its funding sources on facilities and infrastructure.

Chancellor Dannel Malloy says investments in both new facilities and upgrades to existing ones will enhance the experience for students and employees alike.

As previously announced, the budget doesn’t include any tuition increases for in-state students in the coming year.

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