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.

March
1
Tanya Habjouqa: Recent Photographs
Edward Troye: Theme & Variation
Same Difference: Michelle Grabner, Simone Leigh & Russell Maltz
Lexington Tattoo Project
Sun
2
Wildcat Wellness: Expressions (Creative Stress Relief)
Resume & Cover Letters that Work
Mon
3
Wildcat Wellness: Relaxation
Tanya Habjouqa: Recent Photographs
Edward Troye: Theme & Variation
Same Difference: Michelle Grabner, Simone Leigh & Russell Maltz
Lexington Tattoo Project
Grad Salute
2nd Annual UK Work-Life Summer Camps Fair
UK Elder Care Lunch & Learn - Keeping Your Brain Healthy
Successful Networking & Job Search
Guest Lecture
Documentary Screening: "Forgotten Wars, Forgotten Victims"
Bangladeshi Garment Worker Speak Out
A Reading by Nic Brown
CatWatch Party #3
Tue
4
LNFS Presents: The Mighty Ducks
Wildcat Wellness: Meditation
Internship Info Session
Grad Salute
Tanya Habjouqa: Recent Photographs
Edward Troye: Theme & Variation
Same Difference: Michelle Grabner, Simone Leigh & Russell Maltz
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Brazilian Conversation Hour
Art Therapy Table
OUTspoken with J Mase III
CANCELED: Appalachian Forum with Crystal Wilkinson entitled: Birds of Opulence: Black Women, Madness, and Resilience in Appalachia
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LNFS Presents: Typeface
LNFS Presents: Space Jam
Grad Salute
Tanya Habjouqa: Recent Photographs
Edward Troye: Theme & Variation
Same Difference: Michelle Grabner, Simone Leigh & Russell Maltz
Lexington Tattoo Project
Wildcat Wellness: Healthy Habits
Food for Hope
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LNFS Presents: A Girl Walks Home Alone at Night
LNFS Presents: Pokémon: The First Movie
Cultural Coffee Hour
Grad Salute
Tanya Habjouqa: Recent Photographs
Edward Troye: Theme & Variation
Same Difference: Michelle Grabner, Simone Leigh & Russell Maltz
Lexington Tattoo Project
Japan Today
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Free Saturday Swing Dance Lessons
Tanya Habjouqa: Recent Photographs
Edward Troye: Theme & Variation
Same Difference: Michelle Grabner, Simone Leigh & Russell Maltz
Lexington Tattoo Project
Karnival Around The World
Graduate & Professional School Prep:KAPLAN Free Practice Test for MCAT and LSAT
PharmD Open House
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Edward Troye: Theme & Variation
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Midterm of 2015 Spring Semester
Wildcat Wellness: Expressions (Creative Stress Relief)
GUEST LECTURE
Appalachian Forum with Rebecca Klenk, Topic: Global Uttarakhand: Development, Neoliberalism and Social Justice in Himalayan India
Ballroom Thieves
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Tanya Habjouqa: Recent Photographs
Edward Troye: Theme & Variation
Same Difference: Michelle Grabner, Simone Leigh & Russell Maltz
Lexington Tattoo Project
Job Club: Staying Positive During A Job Search
Massage on the Go #2
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LNFS Presents: Only Lovers Left Alive
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Tanya Habjouqa: Recent Photographs
Edward Troye: Theme & Variation
Same Difference: Michelle Grabner, Simone Leigh & Russell Maltz
Lexington Tattoo Project
Brazilian Conversation Hour
Jin Shin Jyutsu Self-Help Class
Leadership Assessment
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True Songs
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LNFS Presents: Into the Woods
Tanya Habjouqa: Recent Photographs
Edward Troye: Theme & Variation
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Wildcat Wellness: Healthy Habits
Free Spring Break Shuttle to Blue Grass Airport
LNFS Presents: Waiting for 'Superman'
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LNFS Presents: Vertigo
Cultural Coffee Hour
Tanya Habjouqa: Recent Photographs
Edward Troye: Theme & Variation
Same Difference: Michelle Grabner, Simone Leigh & Russell Maltz
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Free Spring Break Shuttle to Blue Grass Airport
LNFS Presents: Trainspotting
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Free Saturday Swing Dance Lessons
Tanya Habjouqa: Recent Photographs
Edward Troye: Theme & Variation
Same Difference: Michelle Grabner, Simone Leigh & Russell Maltz
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Edward Troye: Theme & Variation
Same Difference: Michelle Grabner, Simone Leigh & Russell Maltz
Lexington Tattoo Project
Sun
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Mon
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Spring 2015 Spring Vacation
Tanya Habjouqa: Recent Photographs
Edward Troye: Theme & Variation
Same Difference: Michelle Grabner, Simone Leigh & Russell Maltz
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Tue
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Spring 2015 Spring Vacation
Tanya Habjouqa: Recent Photographs
Edward Troye: Theme & Variation
Same Difference: Michelle Grabner, Simone Leigh & Russell Maltz
Lexington Tattoo Project
Wed
19
Spring 2015 Spring Vacation
Tanya Habjouqa: Recent Photographs
Edward Troye: Theme & Variation
Same Difference: Michelle Grabner, Simone Leigh & Russell Maltz
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Thu
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Edward Troye: Theme & Variation
Same Difference: Michelle Grabner, Simone Leigh & Russell Maltz
Lexington Tattoo Project
Plating Design Demonstration with Dan Wu
Fri
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Spring 2015 Spring Vacation
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
22
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Same Difference: Michelle Grabner, Simone Leigh & Russell Maltz
Lexington Tattoo Project
Sun
23
Wildcat Wellness: Expressions (Creative Stress Relief)
"Thrive: The Kentucky Wine Tradition" Documentary Screening
Mon
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Tanya Habjouqa: Recent Photographs
Edward Troye: Theme & Variation
Same Difference: Michelle Grabner, Simone Leigh & Russell Maltz
Lexington Tattoo Project
Job Club: A Snapshot of the Central Kentucky Labor Market
Career & Major Exploration Session @ 1 p.m.
Career & Major Exploration Session @ 2 p.m.
Career & Major Exploration Session @ 3 p.m.
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Tue
25
LNFS Presents: Rear Window
Wildcat Wellness: Meditation
Internship Info Session
Tanya Habjouqa: Recent Photographs
Edward Troye: Theme & Variation
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Young Artists Exhibit Reception
Thu
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LNFS Presents: Psycho
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Edward Troye: Theme & Variation
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Same Difference: Michelle Grabner, Simone Leigh & Russell Maltz
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Same Difference: Michelle Grabner, Simone Leigh & Russell Maltz
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Mar 05
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