The University of Vermont and its full-time faculty union, United Academics, have finalized an unprecedented 4-year labor contract that values the faculty and their contributions to the university, and recognizes the need for ongoing fiscal prudence, the UVM administation said in a statement announcing the agreement. Although the university’s finances are generally stable, UVM said it continues to face multi-million-dollar revenue shortfalls. With state support amounting to only 6 percent of the university’s operating budget, UVM’s long-term success and stability requires the university to continue to restrain spending, increase value through innovation, and keep tuition affordable for students and their families.
