CASPER, Wyo. (AP) — The University of Wyoming has reached a new record with $63 million collected in donations last year.

The money donated in 2016 came from more than 21,000 donors. It also surpassed the university's previous funding record of $55.8 million in 2013.

UW Foundation President Ben Blalock says the timing of the new record could not have been better.

It comes as the university has struggled to adjust to $42 million in state budget cuts. UW officials announced $29 million in cuts this fiscal year, eliminated hundreds of positions and offered early retirement packages for some faculty and staff.

Last year's donations helped fund a number of projects, including the school's efforts in natural resources, educator training, a new athletic center and scholarships.