An agreement has been reached that will see the Saskatchewan government restore $5.2 million in funding for the First Nations University of Canada.

The four-year deal will see the aboriginal school partner with the University of Regina, which would oversee the finances.

Advanced Education Minister Rob Norris calls it a blueprint for the future of the school, but adds there are still conditions to keep the doors of the university open.

Norris says he'll tell Indian Affairs Minister Chuck Strahl that federal funding for the university should be invested in the new partnership.

Last month, the federal and Saskatchewan governments cut funding to the country's only aboriginal university over allegations of financial mismanagement and problems with how the school was run.

Steps have since been taken to replace the board of governors and put senior administrative staff on leave.