LARAMIE, Wyo. (AP) — The University of Wyoming has started increasing its recruitment and retention efforts as it faces budget cuts handed down by the state legislature.

Those efforts received a boost Wednesday, when the University of Wyoming Board of Trustees approved the allocation of $10.4 million to establish a quasi-endowment, with $400,000 of that available for fiscal year 2018 and the remaining $10 million being invested to generate further revenue.

Board Treasurer and Budget Committee Chair John McKinley says the annual income from that investment will go toward recruitment and retention.

The University of Wyoming Foundation will manage the investment.

More From K2 Radio