The University is working to develop and implement a new financial system that will better support UK’s mission, increase capability for planning and forecasting, align financial authority and responsibility at the unit level, encourage innovation and entrepreneurship, and enhance financial transparency.
To achieve these goals, the University will move from its current highly centralized financial model toward a balanced model of decentralization that distributes revenues and associated expenses to the College / unit level while maintaining sufficient resources to invest in University-level priorities and initiatives.
In the Spring, the University went through a planning process to create the framework for a new financial model and set the guiding principles that will shape the development and implementation of that model. Here you can read the report from that committee - The Huron Report (pdf)
The University has begun working to develop and implement the new financial model. Here you can see an overview of the timeline and process for that work - Process Overview & Timeline (pdf)
Director, Financial Model Implementation
214C Main Building
University of Kentucky
Lexington, KY 40506