Sarah Geegan

Latest E-newsletter on UK Financial Model

Published: Dec 12, 2013

LEXINGTON, Ky. (Dec. 13, 2013) — In a commitment to keep the University of Kentucky community informed and engaged in the process of transitioning to a new financial model, UK Provost Christine Riordan and Executive Vice President for Financial Affairs Eric Monday issued the latest newsletter with updates on the financial model. 

 

The e-newsletter was distributed Thursday, Dec. 12.  Following is the full message:

 

 

Dear Colleagues,

 

Over the next several weeks, we want to detail how different, major buckets of resources that flow into the university each year will be addressed with the new financial model. This week, we consider state appropriations — those dollars we receive from the General Assembly to fund our missions of education, research and service.

 

Currently, we receive approximately $284 million annually in state appropriations. That appropriation is the result of the budget that the Governor proposes every two years, which is usually modified and ultimately adopted by the state legislature.

 

The state does not have a formula for dividing those dollars among UK’s colleges, units and programs — except in cases where the state identifies a specific appropriation for a program like extension services, which operates in all 120 Kentucky counties. Those initiatives are often called mandated programs, and there are nearly 20 such initiatives at UK.

 

Under the new financial model, mandated or directly funded programs will continue to operate as they do now. Moreover, as state funding increases or decreases, the colleges or units where those mandated programs are housed will have the responsibility to consult with the Provost and the EVPFA to make decisions about how -- and whether -- to supplement or modify funding for those efforts.

 

That leaves about $200 million annually. Under the existing incremental budget model, central administration largely makes the decisions regarding how state funds are allocated.

 

Under the new, values-based financial model, a transparent formula will be used to allocate the dollars, focusing on our success in achieving our most critical missions. Our goal is to unleash the creativity and intellectual power found in our colleges and units -- focused intently on our promise of nearly 150 years to provide education, conduct research and render service that changes Kentucky and our world.

 

We are continuing to talk with deans and other academic leaders to discuss the formula for allocation of state dollars and where, if necessary, adjustments should be made in the interest of fairness, collaboration and transparency.

 

What's most important, perhaps, is that the new financial model will provide everyone with a transparent look at how the dollars flow throughout the university from this important source of funding. As always, if you have questions about this topic or others related to the model, please don't hesitate to contact us at financialmodel@uky.edu.

 

 

 

MEDIA CONTACT: Sarah Geegan, (859) 257-5365; sarah.geegan@uky.edu

financial-plan-final.png
June
 
 
 
1
 
Wed
2
 
Thu
3
Postdoctoral Research Symposium (Hosted by Society of Postdoctoral Scholars)
Fri
4
 
Sat
5
 
Sun
6
LINKS Center Summer Workshop on Social Network Analysis
Mon
7
LINKS Center Summer Workshop on Social Network Analysis
End of the Summer I 2016 Four-Week Intersession
Tue
8
LINKS Center Summer Workshop on Social Network Analysis
Wed
9
LINKS Center Summer Workshop on Social Network Analysis
UK Writing Center Open for Summer Session 2 (June 9-August 4)
First Day of Classes of the Summer II 2016 Eight-Week Session
Natalie Frank: The Brothers Grimm
Lawrence Tarpey: Figures & Grounds
Eugene Meatyard & Duane Michals: Camera Drama
Thu
10
UK Writing Center Open for Summer Session 2 (June 9-August 4)
LINKS Center Summer Workshop on Social Network Analysis
Natalie Frank: The Brothers Grimm
Lawrence Tarpey: Figures & Grounds
Eugene Meatyard & Duane Michals: Camera Drama
Fri
11
UK Writing Center Open for Summer Session 2 (June 9-August 4)
Natalie Frank: The Brothers Grimm
Lawrence Tarpey: Figures & Grounds
Eugene Meatyard & Duane Michals: Camera Drama
Family Day Workshop
Sat
12
UK Writing Center Open for Summer Session 2 (June 9-August 4)
Natalie Frank: The Brothers Grimm
Lawrence Tarpey: Figures & Grounds
Eugene Meatyard & Duane Michals: Camera Drama
Sun
13
UK Writing Center Open for Summer Session 2 (June 9-August 4)
Natalie Frank: The Brothers Grimm
Lawrence Tarpey: Figures & Grounds
Eugene Meatyard & Duane Michals: Camera Drama
Mon
14
UK Writing Center Open for Summer Session 2 (June 9-August 4)
Natalie Frank: The Brothers Grimm
Lawrence Tarpey: Figures & Grounds
Eugene Meatyard & Duane Michals: Camera Drama
Tue
15
UK Writing Center Open for Summer Session 2 (June 9-August 4)
Natalie Frank: The Brothers Grimm
Lawrence Tarpey: Figures & Grounds
Eugene Meatyard & Duane Michals: Camera Drama
Wed
16
UK Writing Center Open for Summer Session 2 (June 9-August 4)
Natalie Frank: The Brothers Grimm
Lawrence Tarpey: Figures & Grounds
Eugene Meatyard & Duane Michals: Camera Drama
Thu
17
UK Writing Center Open for Summer Session 2 (June 9-August 4)
Natalie Frank: The Brothers Grimm
Lawrence Tarpey: Figures & Grounds
Eugene Meatyard & Duane Michals: Camera Drama
Film Screening: Artists on the Body
Fri
18
UK Writing Center Open for Summer Session 2 (June 9-August 4)
Natalie Frank: The Brothers Grimm
Lawrence Tarpey: Figures & Grounds
Eugene Meatyard & Duane Michals: Camera Drama
Sat
19
UK Writing Center Open for Summer Session 2 (June 9-August 4)
Natalie Frank: The Brothers Grimm
Lawrence Tarpey: Figures & Grounds
Eugene Meatyard & Duane Michals: Camera Drama
Sun
20
UK Writing Center Open for Summer Session 2 (June 9-August 4)
Music Education Summer Training
Natalie Frank: The Brothers Grimm
Lawrence Tarpey: Figures & Grounds
Eugene Meatyard & Duane Michals: Camera Drama
Mon
21
UK Writing Center Open for Summer Session 2 (June 9-August 4)
Music Education Summer Training
Natalie Frank: The Brothers Grimm
Lawrence Tarpey: Figures & Grounds
Eugene Meatyard & Duane Michals: Camera Drama
Tue
22
UK Writing Center Open for Summer Session 2 (June 9-August 4)
Music Education Summer Training
Natalie Frank: The Brothers Grimm
Lawrence Tarpey: Figures & Grounds
Eugene Meatyard & Duane Michals: Camera Drama
Wed
23
UK Writing Center Open for Summer Session 2 (June 9-August 4)
Music Education Summer Training
Natalie Frank: The Brothers Grimm
Lawrence Tarpey: Figures & Grounds
Eugene Meatyard & Duane Michals: Camera Drama
Steve Zahn: One Night Only
Thu
24
UK Writing Center Open for Summer Session 2 (June 9-August 4)
Music Education Summer Training
Natalie Frank: The Brothers Grimm
Lawrence Tarpey: Figures & Grounds
Eugene Meatyard & Duane Michals: Camera Drama
Fri
25
UK Writing Center Open for Summer Session 2 (June 9-August 4)
Music Education Summer Training
Natalie Frank: The Brothers Grimm
Lawrence Tarpey: Figures & Grounds
Eugene Meatyard & Duane Michals: Camera Drama
Sat
26
UK Writing Center Open for Summer Session 2 (June 9-August 4)
Music Education Summer Training
Natalie Frank: The Brothers Grimm
Lawrence Tarpey: Figures & Grounds
Eugene Meatyard & Duane Michals: Camera Drama
Sun
27
UK Writing Center Open for Summer Session 2 (June 9-August 4)
Music Education Summer Training
Natalie Frank: The Brothers Grimm
Lawrence Tarpey: Figures & Grounds
Eugene Meatyard & Duane Michals: Camera Drama
Mon
28
UK Writing Center Open for Summer Session 2 (June 9-August 4)
Music Education Summer Training
Natalie Frank: The Brothers Grimm
Lawrence Tarpey: Figures & Grounds
Eugene Meatyard & Duane Michals: Camera Drama
Tue
29
UK Writing Center Open for Summer Session 2 (June 9-August 4)
Music Education Summer Training
Natalie Frank: The Brothers Grimm
Lawrence Tarpey: Figures & Grounds
Eugene Meatyard & Duane Michals: Camera Drama
Wed
30
UK Writing Center Open for Summer Session 2 (June 9-August 4)
Music Education Summer Training
Natalie Frank: The Brothers Grimm
Lawrence Tarpey: Figures & Grounds
Eugene Meatyard & Duane Michals: Camera Drama
Thu
 
 

Repeats every day until Fri Jul 01 2016 .
Tue, 06/28/2016

Repeats every day until Sun Jul 31 2016 .
Tue, 06/28/2016

Repeats every day until Fri Jul 01 2016 .
Wed, 06/29/2016

Reset Page