Post by Logan on May 4, 2016 21:55:44 GMT -6
The University of Kentucky will lose $12.6 million next year thanks to a 4.5 percent cut in state funding. At the same time, student financial aid and scholarships will increase by more than $20 million, and fixed costs for things such as utilities and employee health insurance are on the rise.
How to fill those financial gaps is among many decisions UK officials are considering as they craft a budget for the next two years.
“I am confident we will prevail. We will not lose our way, but we must continue to find our way forward,” President Eli Capilouto told the Board of Trustees at its meeting Tuesday.
In Kentucky, higher education has been cut every biennium since 2008, but in surrounding states, investment in higher education is increasing, Capilouto said. At UK, state appropriations made up 57 percent of the university’s General Fund in 2008. Today, it’s 37 percent. UK has lost more than $70 million in that time.
Read more here: www.kentucky.com/news/local/education/article75397667.html
How to fill those financial gaps is among many decisions UK officials are considering as they craft a budget for the next two years.
“I am confident we will prevail. We will not lose our way, but we must continue to find our way forward,” President Eli Capilouto told the Board of Trustees at its meeting Tuesday.
In Kentucky, higher education has been cut every biennium since 2008, but in surrounding states, investment in higher education is increasing, Capilouto said. At UK, state appropriations made up 57 percent of the university’s General Fund in 2008. Today, it’s 37 percent. UK has lost more than $70 million in that time.
Read more here: www.kentucky.com/news/local/education/article75397667.html