Eli Capilouto

Our Budget, Our Principles and Our Progress

Published: May 12, 2014

Last week, the University of Kentucky Board of Trustees approved several measures related to our 2014-15 operating and capital budget. We have three principles guiding every decision we make:

  • Propose moderate tuition and fee increases to ensure affordability.
  • Continue consistent faculty and staff pay raises.
  • Ensure no across-the-board cuts and minimize any impact on our academic core.

The Council on Postsecondary Education, which has the statutory authority to set tuition rates at the public institutions, recently established a ceiling on tuition increases over the next two years totaling no more than eight percent.

 

In alignment with that, at their meeting last week, the Board of Trustees approved a five percent increase in tuition for Fall 2014. This means another year of modest tuition increases. Over the last four years, the average increase has been five percent. In the years before that, the average was in double-digits.

 

As part of the budget proposal, we also included a measure to increase University-funded financial aid and scholarships by more than $11 million. This academic year 85.5 percent of undergraduates at UK from Kentucky received financial aid that did not have to be repaid. And for  those students, the average out-of-pocket expense for tuition and mandatory fees was $1,079 per semester ― nearly $150 less than the year before.

 

While no numbers can diminish the fact that families are bearing more of the cost burden for higher education in the wake of declining state support, we can be proud that this university is keeping the needs of Kentuckians first.

 

In June, as part of the 2014-15 budget, the Board of Trustees will consider a two percent merit increase pool for faculty and staff to build on the five percent pool we implemented this fiscal year. We will continue investing in our most valuable resource ― our people.

 

Finally, the state budget, which will be enacted in July, cuts our annual appropriation by nearly $4.3 million. Our state appropriations have now been reduced by about $55 million since 2008. With state funding cuts, our plan to raise compensation, and having to manage increases in fixed costs such as utilities and financial aid, we face nearly $40 million in additional funding needs for the coming year.

 

We will respond to this challenge by trimming dollars from pools of funds set aside for such things as debt service on new construction and other facility initiatives (and do so without compromising ongoing projects). And we also will internally reallocate $7 million made possible through efficiencies, the creation of new revenues, and realignment of the budget.

 

Our continued progress is a testament to you ― your talent, your commitment and your willingness to make tough decisions.

 

That said, we cannot cut our way to a brighter future. It may be seductive to think so, but it is illusory to believe it.

 

In the last three years alone, with our board's leadership, we have started ― or been authorized to begin ― nearly $1 billion in construction of new facilities and renovation of existing buildings that are transforming our campus. Of that, the state has been responsible for $35 million.

 

UK has generated the rest through public-partnerships, a unique collaboration with our athletics department to fund academic space, fund-raising, and greater efficiencies in our operations and administration.

 

The University is, without question, doing its part. We will continue to urge the state to re-invest in this institution, which is so vital to Kentucky's future.

 

In the meantime, please know how deeply I appreciate the work you do, and the commitment you have, to this special place.

April
 
 
 
1
LNFS Presents: Inherent Vice
Wildcat Wellness: Meditation
Successful Networking & Job Search
Tanya Habjouqa: Recent Photographs
Edward Troye: Theme & Variation
Same Difference: Michelle Grabner, Simone Leigh & Russell Maltz
Lexington Tattoo Project
Brazilian Conversation Hour
The Arboretum presents a Party for the Planet! Celebrate Kentucky's Past
Mr. PharmD Pageant 2015
Wed
2
LNFS Presents: Manakamana
LNFS Presents: Donnie Darko
National Student Exchange (NSE) Info Session
Tanya Habjouqa: Recent Photographs
Edward Troye: Theme & Variation
Same Difference: Michelle Grabner, Simone Leigh & Russell Maltz
Lexington Tattoo Project
Wildcat Wellness: Healthy Habits
SEC-ACC Virtual Career Fair
Massage on the Go #3
Thu
3
Cultural Coffee Hour
Tanya Habjouqa: Recent Photographs
Edward Troye: Theme & Variation
Same Difference: Michelle Grabner, Simone Leigh & Russell Maltz
Lexington Tattoo Project
Fri
4
Free Saturday Swing Dance Lessons
Tanya Habjouqa: Recent Photographs
Edward Troye: Theme & Variation
Same Difference: Michelle Grabner, Simone Leigh & Russell Maltz
Lexington Tattoo Project
Sat
5
Tanya Habjouqa: Recent Photographs
Edward Troye: Theme & Variation
Same Difference: Michelle Grabner, Simone Leigh & Russell Maltz
Lexington Tattoo Project
Sun
6
Wildcat Wellness: Expressions (Creative Stress Relief)
Age Friendly Community Panel
Resumes & Cover Letters that Work
Mon
7
National Student Exchange (NSE) Info Session
Wildcat Wellness: Relaxation
Tanya Habjouqa: Recent Photographs
Edward Troye: Theme & Variation
Same Difference: Michelle Grabner, Simone Leigh & Russell Maltz
Lexington Tattoo Project
Tue
8
LNFS Presents: The Godfather
Wildcat Wellness: Meditation
Internship Info Session
Tanya Habjouqa: Recent Photographs
Edward Troye: Theme & Variation
Same Difference: Michelle Grabner, Simone Leigh & Russell Maltz
Lexington Tattoo Project
Brazilian Conversation Hour
UK Remembers
SpeakBlue: Richard Sherman
Wed
9
LNFS Presents: The Shawshank Redemption
Tanya Habjouqa: Recent Photographs
Edward Troye: Theme & Variation
Same Difference: Michelle Grabner, Simone Leigh & Russell Maltz
Lexington Tattoo Project
Wildcat Wellness: Healthy Habits
From Plows to Plates: A Journey Through Kentucky Foodways
Workshop on Publishing
Teached Documentary
Thu
10
LNFS Presents: Enemy
LNFS Presents: Seven Psychopaths
Cultural Coffee Hour
Last Day to Withdraw or Reduce Course Load
Tanya Habjouqa: Recent Photographs
Edward Troye: Theme & Variation
Same Difference: Michelle Grabner, Simone Leigh & Russell Maltz
Lexington Tattoo Project
Robert C. May Photography Endowment Lecture: Julian Cox
Fri
11
Free Saturday Swing Dance Lessons
Tanya Habjouqa: Recent Photographs
Edward Troye: Theme & Variation
Same Difference: Michelle Grabner, Simone Leigh & Russell Maltz
Lexington Tattoo Project
fab-ric-ate Exhibit
Sat
12
Tanya Habjouqa: Recent Photographs
Edward Troye: Theme & Variation
Same Difference: Michelle Grabner, Simone Leigh & Russell Maltz
Lexington Tattoo Project
Kentucky's Present - Learn about the Bluegrass region of the Walk Across Kentucky and about invasive plants that threaten Kentucky landscapes
Sun
13
Wildcat Wellness: Expressions (Creative Stress Relief)
Don't Ask, Don't Tell
Get Your DIY On! Fix-It Station Demonstrations
Mon
14
Wildcat Wellness: Relaxation
Job Club - LinkedIn: Your Job Search Best Friend
Tie Dye Tuesday
#UK Kick Butts Day
Career & Major Exploration Session @ 1 p.m.
Career & Major Exploration Session @ 2 p.m.
Career & Major Exploration Session @ 3 p.m.
Take Back the Night Lexington
Tue
15
LNFS Presents: The Godfather: Part II
Wildcat Wellness: Meditation
Brazilian Conversation Hour
Career & Major Exploration Session @ 11 a.m.
Career & Major Exploration Session @ Noon
Career & Major Exploration Session @ 1 p.m.
Affrilachian Poets
Bike-In Movie: The Bicycle Thieves
Wed
16
LNFS Presents: The Perks of Being a Wallflower
Wildcat Wellness: Healthy Habits
CANCELED: Bike-In Breakfast
Human Rights in China: a panel discussion
Thu
17
LNFS Presents: North by Northwest
LNFS Presents: Raiders of the Lost Ark
Cultural Coffee Hour
Car-Free Day
Performance Conference
Audience Appeals and Performing Assistance Conference
Holi: The Indian Festival of Colors
Fri
18
Free Saturday Swing Dance Lessons
Bully Breed Awareness Walk
Spring Carnival 2015
Taste of Africa
GAYla Drag Show and Silent Auction
Sat
19
 
Sun
20
Wildcat Wellness: Expressions (Creative Stress Relief)
Floral Sculpture
Pinterest Party #3
Mon
21
Wildcat Wellness: Relaxation
Student Center "Farewell" Informational Fair
Tour de Downtown Art
Tue
22
LNFS Presents: Birdman
Wildcat Wellness: Meditation
National Student Exchange (NSE) Info Session
Brazilian Conversation Hour
Healthy Smoothie Demonstration
Ping Pong Ball Drop
Shake the Stress Fest
Wed
23
LNFS Presents: Dr. Strangelove or: How I Learned to Stop Worrying and Love the Bomb
LNFS Presents: The Avengers
Wildcat Wellness: Healthy Habits
Wildcat Wrap-Up
UK Elder Care Lunch & Learn
Kentucky's Future - Plant a Tree in the Pennyrile region of the Walk Across Kentucky
Thu
24
LNFS Presents: Batman
LNFS Presents: O Brother, Where Art Thou?
Cultural Coffee Hour
Art in Bloom Weekend
Fri
25
Free Saturday Swing Dance Lessons
Network Publishing: Digital Writing in the Humanities
The Party for the Planet final event in April is Arbor Day at The Arboretum!
Art in Bloom Weekend
Raise the Chinese Dream in Kentucky
Art in Bloom Cocktail Party
Sat
26
Art in Bloom Weekend
Sun
27
Resumes & Cover Letters that Work
Wildcat Wellness: Expressions (Creative Stress Relief)
Fuel for Finals
UK Ag Equine Programs Distinguished Lecture Series
Mon
28
Wildcat Wellness: Relaxation
Be PAWsitive!
Job Club: How to Write the Perfect Resume and Cover Letter
Showcase of Undergraduate Scholars
How to Impress Your Boss: Employer Panel
Tue
29
Wildcat Wellness: Meditation
Internship Info Session
Brazilian Conversation Hour
Appalachian Research Day
Wed
30
Wildcat Wellness: Healthy Habits
Thu
 
 

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