BOZEMAN, Mont. — The state Board of Regents has approved the hiring of the new University of Montana president and Montana State University’s plan to spend $58 million on a 480-bed dormitory.

The regents met Thursday and Friday in Bozeman.

They approved a salary of $313,845 for Seth Bodnar at UM. His salary is the same as MSU President Waded Cruzado and his compensation also includes a residence and vehicle allowance. Cruazdo has a deferred compensation benefit and the office of the Commissioner of Higher Education said that may later be included in Bodnar’s compensation.

Regents voted Friday to give MSU permission to spend $58 million on a six-story dorm scheduled to open in 2020 and $4.5 million for a year-round student recreation field. Both projects are to be paid for with student fees.