Budget at a glance
Fiscal Year 2018-19 Consolidated Budget
In FY 2008-09, UK’s state appropriations were originally budgeted to exceed $316 million. With $258 million expected for FY 2018-19, state appropriations will have been reduced by more than $58 million in ten years.
Understanding the University’s Consolidated Budget
A balanced (revenues equal expenses and transfers), consolidated budget is established prior to the beginning of each fiscal year and amended during the year as plans change and unanticipated events occur. Financial activity is reported quarterly to the Board of Trustees with interim financial statements. An independent accounting firm audits the annual financial statements. The University’s consolidated budget is primarily comprised of four types of current funds: General, Auxiliary, Restricted, and Fund Balance. The first three types are recurring (funds that generally are received or earned every year such as state appropriations and tuition and fees revenue).