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.

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

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

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