University of Massachusetts trustees approved a $3.1 billion plan yesterday to build and renovate science labs, dorms, and athletic facilities, even as the school carries substantial debt from previous construction projects.
The proposal came less than six weeks after UMass president Robert Caret testified before the Legislature, urging it to boost funding for higher education.
UMass pulled in $110 million in donations last fiscal year - the third year in a row it raised more than $100 million - and has nurtured its endowment from $45 million to $527 million over the past decade and a half. The fund’s performance last year was the second best in its history.
Yet the system is still struggling in the face of cuts in funding from the Legislature, said UMass trustee Victor Woolridge at yesterday’s board meeting.