The University of Wyoming board of trustees discussed construction and budget reductions
CHEYENNE, Wyo. (Wyoming News Now) - The University of Wyoming board of trustees had a meeting Wednesday morning to discuss a resolution to issue $260 million in revenue bonds.
This vote will allow the use of private investment bonds to pay for the construction of two new student residence halls with dining facilities. The current residence halls are 50 years old.
These buildings will hold 900 students and an additional 375-vehicle parking facility which will also contain the offices of the UW police department.
Construction on the parking facility is due to finish late this year and the residence halls will start next year.
The university is looking for ways to stay competitive with other institutions and attract more students to its campus.
The university also approved its annual budget during the meeting. It will face budget reductions due to the downturn in the mineral industry, which is the revenue source for education.
“It is about a 21-million-dollar reduction on an annual basis. As we and many others agency and units of state government has seen our budget decline, we’ve tightened our belts significantly,” said Chad Baldwin- UW Institutional Communications.
This has translated to 85 positions being eliminated and a reorganization to increase efficiencies and cuts of low-enrollment degrees with further program reductions expected.
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