Kentucky Budget Director Warns of Revenue Shortfall
Louisville – Kentucky's Budget director is pointing to an estimate that shows the state with a revenue shortfall between 150 and 200 million dollars this year. Jim Ramsey says nobody knows what will happen if the estimate proves to be accurate.
Ramsey says universities in the Commonwealth have already been asked to prepare for budget cuts of up to three percent this year. If cuts reach that level, it could mean a loss of about 34 million dollars from the allocation given to Kentucky's universities.
Ramsey delivered the news Tuesday afternoon at the University of Louisville, where he is currently acting president.