The new budget enables the
university to pursue its goal of becoming a top-20 public institution by allowing to
continue fostering diversity, excellence and economic development.
6, 2000 (Lexington, Ky.) The
University of Kentucky Board of Trustees today approved a $1.2 billion budget for
2000-2001 that maintains the universitys emphasis on groundbreaking research and
enhances services to undergraduate students. It
also provides for an increased undergraduate enrollment.
new operating budget increases expenditures by 2.4 percent over the revised 1999-2000
budget. The major sources of revenue for the
budget are: the state appropriation, $308 million (25.7 percent of the total); student
fees, $126 million (10.5 percent); UK Hospital revenues, $295 million (24.7 percent); and
affiliated corporations, $173 million (14.5 percent).
2000-2001 capital budget is $255 million. About
$88 million will be used for new facilities, $39 million for renovations, $12 million for
scheduled maintenance, $27 million for utilities, $5 million for land improvement and $2
million for life safety. The capital budget allocates $81 million for equipment, with $15
million to be used for computer equipment; $10 million for research equipment; $2 million
for communications equipment; $1 million for instructional equipment; $1 million for
auxiliary, office and physical plant equipment; and $52 million for other equipment,
primarily for the UK Hospital. An additional
$9 million is allocated for library books.
new budget enables the university to pursue its goal of becoming a top 20 public
university by 2020 by allowing UK to continue building an internationally distinguished
and diverse faculty, to recruit and graduate a diverse population of professional and
graduate students, to strengthen excellence in teaching and student advising, to be a
catalyst for economic development, to strengthen the quality of undergraduate education,
and to enhance outreach and public service programs that support the universitys
statewide land grant mission.
top 20 goal was set for the university by the Kentucky General Assembly in 1997 and
adopted as part of the UK Strategic Plan in May 1998.
To help the university reach that goal, Gov. Paul Patton proposed and the
legislature allotted $66.7 million for endowments to support research and graduate program
enhancement through a Research Challenge Trust Fund. The money will be used to improve
graduate education and research through endowed chairs, professorships, fellowships,
scholarships and the library research materials endowment.
UK President Charles T. Wethington Jr. noted the university had succeeded in
raising its required match and has qualified for the state funds initially made available
pointed out the 2000 Kentucky General Assembly renewed the Research Challenge Trust Fund,
designating another pool of $66.7 million for UK. When
these new funds are matched by the university, the result in total additions to
institutional endowment funds will be $133.4 million.
This program exemplifies that necessary blend of financial support
from the state complemented by that extra edge of excellence that private
support brings, Wethington said.
noted the state budget included a 2.7 percent increase for each public university plus
special appropriations for designated purposes, including an additional $7.8 million for
UK including Lexington Community College. That
figure exceeds the 2.4 percent increase that had been recommended by the state Council on
Postsecondary Education (CPE). The
legislature also allocated $1.2 million to the CPE for enrollment growth and student
retention at UK. The university is very
grateful for the support of the governor and General Assembly and their recognition of the
needs of postsecondary education, Wethington added.
total state budget support declined to 25.6 percent of the total university budget this
year, down from the states contribution of 26.1 percent last year. This continues a downward trend dating from 1990
when the state share was 41.1 percent.
2000-2001 budget includes a number of initiatives for undergraduate education, including
classroom renovation, maintaining and enhancing the undergraduate student scholarship
base, additional support for the Admissions Office and additional fellowships. In addition, the budget provides funding to add
faculty, library and staff positions at Lexington Community College, where enrollment grew
by 11.1 percent last year.
budget provides for an average salary increase of 3 percent for UK employees based on
merit. The budget also provides funding for
an 11.3 percent increase in the university contribution to health insurance for regular