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
February
 
1
Graduate Student Congress Meeting (February)
Mon
2
Bill Adams: Blue Madness
Bill Adams: Blue Madness
Bill Adams: Blue Madness
Bill Adams: Blue Madness
Bill Adams: Blue Madness
Open House: Selections from the John and Sue Wieland Collection
Open House: Selections from the John and Sue Wieland Collection
Open House: Selections from the John and Sue Wieland Collection
Open House: Selections from the John and Sue Wieland Collection
Open House: Selections from the John and Sue Wieland Collection
Open House: Selections from the John and Sue Wieland Collection
Open House: Selections from the John and Sue Wieland Collection
Open House: Selections from the John and Sue Wieland Collection
Tue
3
K Crew Recruitment
Last Day to Drop a Course Without Appearing on Transcript
Bill Adams: Blue Madness
Open House: Selections from the John and Sue Wieland Collection
Wed
4
K Crew Recruitment
Bill Adams: Blue Madness
Undergraduate Research Information Session
Bill Adams: Blue Madness
Open House: Selections from the John and Sue Wieland Collection
Thu
5
K Crew Recruitment
Bill Adams: Blue Madness
Open House: Selections from the John and Sue Wieland Collection
Explore Blue
Off-Campus Student Services' Wildcat Apartment Hop #1
Panel Discussion: Historic Homes
Fri
6
K Crew Recruitment
Bill Adams: Blue Madness
Open House: Selections from the John and Sue Wieland Collection
Sat
7
K Crew Recruitment
Bill Adams: Blue Madness
Open House: Selections from the John and Sue Wieland Collection
Sun
8
K Crew Recruitment
Sex and Chocolate
Law School Prep Workshop
Mon
9
K Crew Recruitment
Healthy Relationships Workshop
How to Package Communication and Technical Skills on your Resume
Bill Adams: Blue Madness
Open House: Selections from the John and Sue Wieland Collection
2016 Distinguished Industry Lecture Series
Tue
10
K Crew Recruitment
Last Day to Receive 50% Refund
Pinterest Party #1
Off-Campus Student Association Information Session
Get Yourself Tested!
Showcase your Talents: Building a Strong Portfolio
An Evening with Tatyana Ali and Amir Windom: Progression Towards Success
Bill Adams: Blue Madness
Open House: Selections from the John and Sue Wieland Collection
How to Survive a Plague
Wed
11
K Crew Recruitment
Coffee & Canvases
Off-Campus Student Association Information Session
Study Abroad in Berlin!
Bill Adams: Blue Madness
Open House: Selections from the John and Sue Wieland Collection
Thu
12
K Crew Recruitment
Explore Blue
Bill Adams: Blue Madness
Open House: Selections from the John and Sue Wieland Collection
Fri
13
K Crew Recruitment
Bill Adams: Blue Madness
Open House: Selections from the John and Sue Wieland Collection
Workshop: The Artist Statement
Sat
14
K Crew Recruitment
Bill Adams: Blue Madness
Open House: Selections from the John and Sue Wieland Collection
Sun
15
K Crew Recruitment
See ICT
Patterson School Guest Speaker Series
Mon
16
K Crew Recruitment
Bill Adams: Blue Madness
Open House: Selections from the John and Sue Wieland Collection
See ICT
UK Women's Forum February Board Meeting
Tue
17
K Crew Recruitment
Food For Thought
Bill Adams: Blue Madness
Open House: Selections from the John and Sue Wieland Collection
Wed
18
Undergraduate Research Information Session
Soup & Substance: Real Talk, Real Issues, & Real People Series
Bill Adams: Blue Madness
Open House: Selections from the John and Sue Wieland Collection
Thu
19
PharmD Interviews
Explore Blue
Bill Adams: Blue Madness
Open House: Selections from the John and Sue Wieland Collection
Off-Campus Student Services' Wildcat Apartment Hop #2
SAB Underground Formal
Fri
20
PharmD Interviews
Bill Adams: Blue Madness
Open House: Selections from the John and Sue Wieland Collection
Sat
21
Bill Adams: Blue Madness
Open House: Selections from the John and Sue Wieland Collection
Sun
22
Undergraduate Research Information Session
Mon
23
Bill Adams: Blue Madness
Open House: Selections from the John and Sue Wieland Collection
Tue
24
Bill Adams: Blue Madness
Open House: Selections from the John and Sue Wieland Collection
UK Elder Care Lunch & Learn - Don't Blame It On Aging
Ravi Zacharias at Memorial Coliseum
Wed
25
Bill Adams: Blue Madness
Open House: Selections from the John and Sue Wieland Collection
Thu
26
Explore Blue
Bill Adams: Blue Madness
Open House: Selections from the John and Sue Wieland Collection
Dimensions of Political Ecology Conference
Eday Talk by Georgetown Toyota President Wil James
Do What You Are: Connecting Personalities w/ Profession
Off- Campus Student Services' Wildcat Apartment Hop #3
Concert in the Museum: Central Music Academy
Fri
27
Dimensions of Political Ecology Conference
Bill Adams: Blue Madness
Open House: Selections from the John and Sue Wieland Collection
UK E-Day
Sat
28
Bill Adams: Blue Madness
Bill Adams: Blue Madness
Bill Adams: Blue Madness
DanceBlue Rave Hour
Bill Adams: Blue Madness
Open House: Selections from the John and Sue Wieland Collection
Open House: Selections from the John and Sue Wieland Collection
Sun
29
Monday through Friday - Midterm Grading window is open. The mid-term grading window will close at midnight on March 11.
Monday through Wednesday - Students are prohibited from changing academic major
Bodies Of Evidence: Provocations: A Transnational Feminist History Project
Mon
 
 
 
 
 
Feb 08
Sex and Chocolate 02/08/2016

Repeats every day on January, February, March, April every Sunday and every Tuesday and every Wednesday and every Thursday and every Friday and every Saturday until Sun Apr 03 2016 .
Tue, 02/09/2016

Repeats every day on January, February, March, April every Sunday and every Tuesday and every Wednesday and every Thursday and every Friday and every Saturday until Mon Apr 04 2016 .
Tue, 02/09/2016

Reset Page