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
September
 
 
1
Last Day to Add a Class
Last Day to Receive 80% Refund
Suicide Prevention: Raising Awareness & Sharing Our Stories
Welcome Coffee
Game Show
Tue
2
Wildcat Wellness Meditation
Wed
3
The Late Night Film Series Presents - Rosemary's Baby
The Late Night Film Series Presents - Pitch Perfect 2
Adjusting to College
Adjusting to College
Kickoff Football Season Grill Out
Thu
4
The Late Night Film Series Presents - Akira
The Late Night Film Series Presents - Whiplash
To Live in the Borderlands: A Household Perspective on Frontier Politics from the Middle Jequetepeque Valley, Peru
Fri
5
Go Swing Dancing!
Sat
6
 
Sun
7
Labor Day
Mon
8
Wildcat Wellness Relaxation
The Late Night Film Series Presents - Ivory Tower
Tue
9
Wildcat Wellness Meditation
Wed
10
The Late Night Film Series Presents - Selena
The Late Night Film Series Presents - Jurassic World
Adjusting to College
Terrace Time Out
Thu
11
The Late Night Film Series Presents - The Great Beauty
The Late Night Film Series Presents - Predator
Friday Swing Dance Lessons - Free!
Friday Swing Dance Lessons - Free!
Accounting Internship & Career Fair
Fri
12
Bottoms Up: A Sculpture Survey
Nina Katchadourian: Collection Interventions
Wayne Koestenbaum: Unfamiliar Grammar
Sculptors On Paper
Swing Dance Lessons - Free
Sat
13
Bottoms Up: A Sculpture Survey
Nina Katchadourian: Collection Interventions
Sun
14
Bottoms Up: A Sculpture Survey
Nina Katchadourian: Collection Interventions
Kentucky Law Schools Forum
Outdoor Installation
Wildcat Wellness Expressions - Superhero
Mon
15
Bottoms Up: A Sculpture Survey
Nina Katchadourian: Collection Interventions
Outdoor Installation
Wildcat Wellness Relaxation
Women's Forum Board Meeting
Southern Sirens Concert
Tue
16
Bottoms Up: A Sculpture Survey
Nina Katchadourian: Collection Interventions
Outdoor Installation
Wildcat Wellness Meditation
Last Day to Drop a Course Without Appearing on Transcript
Wed
17
Bottoms Up: A Sculpture Survey
Nina Katchadourian: Collection Interventions
Outdoor Installation
Adjusting to College
Thu
18
Bottoms Up: A Sculpture Survey
Nina Katchadourian: Collection Interventions
Outdoor Installation
The Late Night Film Series Presents - Dark Girls
The Late Night Film Series Presents - The Pokémon Movie
LexPhil Pre-Concert Buffet
Curator Tour with Stuart Horodner
Fri
19
Bottoms Up: A Sculpture Survey
Nina Katchadourian: Collection Interventions
Swing Dance Lessons - Free
Sat
20
Bottoms Up: A Sculpture Survey
Nina Katchadourian: Collection Interventions
LexHop
Sun
21
Bottoms Up: A Sculpture Survey
Nina Katchadourian: Collection Interventions
Wildcat Wellness Expressions - Finger Painting
Mon
22
Bottoms Up: A Sculpture Survey
Nina Katchadourian: Collection Interventions
Wildcat Wellness Relaxation
Tue
23
Bottoms Up: A Sculpture Survey
Nina Katchadourian: Collection Interventions
Wildcat Wellness Meditation
Last Day to Receive 50% Refund
Thank-A-Donor Day
2 Day Business Internship & Career Fair
Pinterest Party I
Wed
24
Bottoms Up: A Sculpture Survey
Nina Katchadourian: Collection Interventions
2 Day Business Internship & Career Fair
Wildcat Wellness - Yoga for Relaxation
Wildcat Wellness - Yoga for Relaxation
Wildcat Wellness - Yoga for Relaxation
Wildcat Wellness - Yoga for Relaxation
Wildcat Wellness - Yoga for Relaxation
The Late Night Film Series Presents - Wild Tales
The Late Night Film Series Presents - Mad Max: Fury Road
Adjusting to College
Thu
25
Bottoms Up: A Sculpture Survey
Nina Katchadourian: Collection Interventions
Wayne Koestenbaum: Unfamiliar Grammar
The Late Night Film Series Presents - All.I.Can
The Late Night Film Series Presents - Nightcrawler
Fri
26
Bottoms Up: A Sculpture Survey
Nina Katchadourian: Collection Interventions
Paint the Town Blue/Banner Competition
Wayne Koestenbaum: Unfamiliar Grammar
Swing Dance Lessons - Free
Swing Dance Lessons - Free
Arts Writing Workshop
Sat
27
Bottoms Up: A Sculpture Survey
Nina Katchadourian: Collection Interventions
Paint the Town Blue/Banner Competition
Wayne Koestenbaum: Unfamiliar Grammar
Sun
28
Bottoms Up: A Sculpture Survey
Nina Katchadourian: Collection Interventions
Paint the Town Blue/Banner Competition
Wayne Koestenbaum: Unfamiliar Grammar
Wayne Koestenbaum: Unfamiliar Grammar
Wildcat Wellness Expressions - Mandala
Mon
29
Bottoms Up: A Sculpture Survey
Nina Katchadourian: Collection Interventions
Wildcat Wellness Relaxation
Wildcat Wellness Relaxation
Wayne Koestenbaum: Unfamiliar Grammar
Kitty Karnival
Tue
30
Bottoms Up: A Sculpture Survey
Nina Katchadourian: Collection Interventions
Wildcat Wellness Meditation
Wildcat Wellness Meditation
Wayne Koestenbaum: Unfamiliar Grammar
Wayne Koestenbaum: Unfamiliar Grammar
Wayne Koestenbaum: Unfamiliar Grammar
Wayne Koestenbaum: Unfamiliar Grammar
Wayne Koestenbaum: Unfamiliar Grammar
Wayne Koestenbaum: Unfamiliar Grammar
Wayne Koestenbaum: Unfamiliar Grammar
Wayne Koestenbaum: Unfamiliar Grammar
Wayne Koestenbaum: Unfamiliar Grammar
Wayne Koestenbaum: Unfamiliar Grammar
Wayne Koestenbaum: Unfamiliar Grammar
Wayne Koestenbaum: Unfamiliar Grammar
Wed
 
 
 
Sep 02
Wildcat Wellness Meditation 09/02/2015

Repeats every week until Thu Dec 10 2015 except Thu Nov 26 2015.
Thu, 09/03/2015

Repeats every week until Thu Sep 24 2015 .
Thu, 09/03/2015

Reset Page