UK Approves Austere Budget

University of Kentucky trustees have approved a new budget for the next fiscal year. It contains no pay raises for faculty and staff and eliminates 188 positions.

The budget also includes a nine-percent tuition increase for in-state undergraduates.

The austere spending plan comes in response to a six-percent cut in state funding.

UK Vice-president of Finance Angela Martin says the university’s fiscal health could worsen if the economic times don’t improve.

“We’re very concerned, really, about what the future holds for UK and the budget,” Martin said.  

Last week, University of Louisville trustees approved a budget that also includes a nine-percent tuition hike, plus a lump sum payment of 700 dollars for faculty and staff.

(Thanks to Bryan Bartlett, WUKY, Lexington/Kentucky Public Radio)