Post by Logan on Apr 20, 2016 22:58:27 GMT -6
FRANKFORT, Ky. -- Republican Gov. Matt Bevin released more than $23 million in state tax dollars to public colleges and universities one day before the Democratic Attorney General planned to take him to court over his authority to cut spending without legislative approval.
Last month, Bevin cut state spending by $41 million for colleges and universities through June 30. He wants to begin saving that money to pay down the state's massive pension debt, estimated at more than $30 billion. Tuesday, he revised that reduction to $17.8 million for most public colleges and universities. He completely restored funding to Kentucky State University.
The revised spending cuts amount to 2 percent of what the state legislature sends to public colleges and universities every year. The total budgets for public colleges and universities, which also include tuition, fees and federal dollars, is more than $6.6 billion, not including Kentucky State University. The spending cuts Bevin ordered amount to less than half of 1 percent of the institutions' total budgets.
But most of that money is restricted, meaning colleges and universities can only spend it on certain things. College presidents say that's why it is difficult to compensate for any cuts in state spending.
Read more here: www.kentucky.com/news/politics-government/article72880857.html
Last month, Bevin cut state spending by $41 million for colleges and universities through June 30. He wants to begin saving that money to pay down the state's massive pension debt, estimated at more than $30 billion. Tuesday, he revised that reduction to $17.8 million for most public colleges and universities. He completely restored funding to Kentucky State University.
The revised spending cuts amount to 2 percent of what the state legislature sends to public colleges and universities every year. The total budgets for public colleges and universities, which also include tuition, fees and federal dollars, is more than $6.6 billion, not including Kentucky State University. The spending cuts Bevin ordered amount to less than half of 1 percent of the institutions' total budgets.
But most of that money is restricted, meaning colleges and universities can only spend it on certain things. College presidents say that's why it is difficult to compensate for any cuts in state spending.
Read more here: www.kentucky.com/news/politics-government/article72880857.html