Related Company: Vermont Business Magazine 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 administration said in a statement announcing the agreement. The union said it was able to hold off cuts to base pay and benefits during the negotiations, which lasted virtually through the pandemic. 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.