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
October
 
 
 
1
Internship Info Session
LNFS Presents: Dallas Buyers Club
College of Law Welcomes Trevor Potter
Wed
2
Dancing at Lughnasa
LNFS Presents: Notes on Marie Menken
LNFS Presents: Edge of Tomorrow
UK Jazz Ensemble/ UK Lab Band
Earth & Environmental Science Student Open House
"Nerd Night" Exhibit and Concert
"Anne Braden: Southern Patriot" Film Screening and Discussion
Thu
3
Dancing at Lughnasa
LNFS Presents: My Neighbor Totoro
LNFS Presents: (500) Days of Summer
Men's Soccer vs. Old Dominion
Kentucky Volleyball vs. Alabama
Fri
4
Dancing at Lughnasa
Kentucky Football vs. South Carolina
Free Saturday Swing Dance Lessons
Rock Climbing @ Red River Gorge
Cross Cultural Workshop 2014
Swing Dancing!
Sat
5
Dancing at Lughnasa
Cross Cultural Workshop 2014
UK Children's Hospital/Birthing Center Annual Perinatal Loss "Walk To Remember"
Kentucky Volleyball vs. Texas A&M
Sun
6
Dancing at Lughnasa
Murals of Baltimore
Resumes and Cover Letters
Mon
7
Dancing at Lughnasa
Murals of Baltimore
Networking and Job Search
UK Choristers
Rock Star Professionalism Series
Stillness in Motion: The Essence of Symmetry - presented by Dr. Carl Lee, Mathematics
Tue
8
Dancing at Lughnasa
Murals of Baltimore
LNFS Presents: Night of the Living Dead
UK Law Day
Wed
9
Dancing at Lughnasa
Murals of Baltimore
LNFS Presents: Dawn of the Planet of the Apes
Mark Berry, Guest Percussion Recital
National Depression Screening Day
LNFS Presents: Torch Song Trilogy
Thu
10
Dancing at Lughnasa
LNFS Presents: Shut Up and Play the Hits
LNFS Presents: Watchmen
KLJ Data Privacy Symposium
Family Weekend Check-in
Big Blue Pantry Food Drive #1
Kentucky Women's Soccer vs. South Carolina
Family Weekend: Derek Hughes
Fri
11
Dancing at Lughnasa
Kentucky Football vs. ULM
Free Saturday Swing Dance Lessons
UK International Tent/ Tailgate Party
CT Surgery Symposium: Advances in the Surgical Management of Cardiothoracic Diseases:
Family Weekend Tent Party
Sat
12
Dancing at Lughnasa
DNT 101: A Taste of the Kentucky Doughnut Trail
Big Blue Pantry Food Drive #2
Kentucky Volleyball vs. Auburn
Sunday Lunch at Historic Spindletop Hall
Men's Soccer vs. Marshall
Sun
13
 
Mon
14
Job Club - Social Media and Your Career
Massage on the Go
Tue
15
LNFS Presents: The Last Samurai
UK Symphony Band Concert
Women's Forum Conference 2014
#TrendingTopics: Pornography vs. Morality
Wed
16
Career Assessment Workshop
LNFS Presents: The Tree of Life
LNFS Presents: Guardians of the Galaxy
UK Wind Symphony
Thu
17
LNFS Presents: Princess Mononoke
LNFS Presents: The Hitchhiker's Guide to the Galaxy
Kentucky Women's Soccer vs. Ole Miss
Berlin Philharmonic Wind Quintet
Fri
18
Paint the Town Blue
Free Kaplan Entrance Practice Exams
4th Annual Big Blue Soccer Tournament
Men's Soccer vs. New Mexico
Swing Dancing and Costumes?
Sat
19
Paint the Town Blue
UK Men's Chorus and acoUstiKats
Jazz Spectacular
UK Student Pajama Party
Kentucky Volleyball vs. LSU
Kentucky Women's Soccer vs. Florida
Sun
20
Paint the Town Blue
Midterm of 2014 Fall Semester
Returning to Work and Breastfeeding
Open Access Week Kickoff Event (Webcast)
Grad School 101
Royalty Showcase
Mon
21
Graduate and Professional School Prep Week: Preparing for Law School
Graduate and Professional School Prep Week: Grad School Panel: Surviving Your 1st Year
Film & Panel Discussion: Be Like Others
Graduate and Professional School Showcase
Your Publication, Your Choice: Choosing the Right Open Access Journal
Graduate and Professional School Prep Week
Graduate and Professional School Prep Week
Kitty Karnival
Tue
22
Study Tips for Medical School
LNFS Presents: Eternal Sunshine of the Spotless Mind
Thank-A-Donor Day
Campus Sustainability Day
Electronic Thesis and Dissertation Information Session
Getting Into Medical School
Wed
23
Writing a Winning Personal Statement
Career Assessment Workshop
LNFS Presents: Marimbas From Hell
LNFS Presents: The Fault in Our Stars
Generation Open: Researchers' Roles in the Age of Openness
Homecoming Street Fair
Thu
24
LNFS Presents: Kiki's Delivery Service
LNFS Presents: The Secret Life of Walter Mitty
"see blue." Day at Keeneland
Peanut Butter Drive
Pumpkin Carving Tournament
Fri
25
Kentucky Football vs. Mississippi State
Free Saturday Swing Dance Lessons
Sat
26
UK Women's Choir and Paws and Listen
Bill Cooper Faculty Recital
What Makes You "YOU: with Brett T. Spear
Sun
27
UK Trumpet Ensemble
Undergraduate Research Information Session "How to Find A Mentor"
Kentucky Men's Basketball Blue/White Scrimmage
Mon
28
Job Club - How To Get A Job at UK: Updates on IES Applicant Tracking System
Common Reading Experience Author Lecture: Presenting Ishmael Beah
Screening of the documentary Teached
Tue
29
Internship Info Session
LNFS Presents: The Shining
Pinterest Party
UK Lab Safety Fair
Leadership Assessment
"see boo." Halloween Party
Society for the Promotion of Undergraduate Research (SPUR) Meeting
#UKEDTALKS: Design Thinking with Dr. John Nash
Kentucky Volleyball vs. Tennessee
Wed
30
Career Assessment Workshop
LNFS Presents: Lucy
Film Viewing and Discussion of The Other Boleyn Girl
LNFS Presents: Papirosen
Kentucky Women's Soccer vs. Alabama
Thu
31
LNFS Presents: ParaNorman
LNFS Presents: Carrie
All Hallow's Eve Concert (UK Symphony Orchestra)
Work-Life Retirement Conference
PEIK Seminar: Jim Rogers
Fri
 
Oct 31
LNFS Presents: ParaNorman 10/31/2014

Fri, 10/31/2014

Sat, 11/01/2014

Repeats every week until Sat Nov 29 2014 except Sat Sep 20 2014, Sat Oct 18 2014.
Sat, 11/01/2014

Reset Page