Monday, November 5, 2012

UK President Announces Fewer Budget Cuts


{Lexington, Kentucky}...During a campus-wide forum Monday, University of Kentucky President Eli Capilouto said, in fiscal year 2013-14, budget cuts won't be as drastic as first planned because of increased enrollment and higher tuition revenue. Capilouto said an additional $11.9 million is expected in tuition revenues next year, partly as a result of out-of-state students' higher tuition rates. Capilouto announced a reduction in the cut for academic departments from 4.2 percent to 2.1 percent, a reduction in administration's budget cut from 6.4 percent to 5 percent and tuition increases of no more than 3 percent and a merit salary plan of 5 percent.