Campus News

UK investing more in the people who will advance Kentucky

This is a photo of a University of Kentucky staff member advising a student.
Mark Cornelison | UK Photo

LEXINGTON, Ky. (June 14, 2024) — University of Kentucky President Eli Capilouto said Friday that UK’s proposed budget for fiscal year (FY) 2024-25 represents the largest investment in the institution’s employees in its history.

“Our people power our progress in advancing Kentucky,” Capilouto told members of the UK Board of Trustees, who were considering the university’s FY 2024-25 budget of nearly $8.4 billion. “More than 26,000 UK employees — our community — support the success of nearly 34,000 students, treat and heal more than 45,000 patients each year, conduct research toward solving our commonwealth’s most intractable challenges and serve in every community of our state. They are focused as never before on how we help the state we were created to serve become healthier, wealthier and wiser tomorrow than it is today.”

Examining only the university’s undesignated General Funds:

  • The university will invest nearly $30 million in FY 2024-25 on increases in compensation and benefits including more than $18 million for a salary increase pool and more than $9 million to help offset increases in health insurance costs which are also increasing nationally.
  • It’s the largest salary increase pool of funds in more than a decade.
  • It is the 11th time in 12 years that UK has been able to offer increases in compensation for employees — an unprecedented series of investments in UK’s people.
  • UK also will increase the amount of money invested back in colleges to align with Kentucky’s priorities for the future. 
  • Last year — through three models that help align funding support with institutional and state priorities — UK invested nearly $26 million to its colleges. 
  • Those dollars are awarded for performance in areas such as enrollment growth, student credit hours, degrees awarded and work-life survey results among employees.

“We are a community that cares. We are a community committed to advancing Kentucky. We can best continue — and expand — those efforts and deepen that commitment even more by investing in a sustained way to support the people who do the work,” Capilouto said. “This budget reflects an ongoing effort, over many years, to support the people in classrooms, research labs, hospitals and clinics, in our facilities, on our grounds across farm fields and in cities and towns throughout Kentucky who make so much progress possible for our state.”

As the state’s flagship, land-grant institution, the University of Kentucky exists to advance the Commonwealth. We do that by preparing the next generation of leaders — placing students at the heart of everything we do — and transforming the lives of Kentuckians through education, research and creative work, service and health care. We pride ourselves on being a catalyst for breakthroughs and a force for healing, a place where ingenuity unfolds. It's all made possible by our people — visionaries, disruptors and pioneers — who make up 200 academic programs, a $476.5 million research and development enterprise and a world-class medical center, all on one campus.   

In 2022, UK was ranked by Forbes as one of the “Best Employers for New Grads” and named a “Diversity Champion” by INSIGHT into Diversity, a testament to our commitment to advance Kentucky and create a community of belonging for everyone. While our mission looks different in many ways than it did in 1865, the vision of service to our Commonwealth and the world remains the same. We are the University for Kentucky.