WKU President Gary Ransdell has issued a statement Friday morning in response to Gov. Matt Bevin's order that state universities immediately incur a 4.5 percent funding cut.
Bevin has told his Finance and Administration Secretary and Budget Director to make the cuts to the quarterly transfers of funds scheduled to take place Friday to the state's eight public universities and Community and Technical College System.
Here is Ransdell's statement:
"We are aware of the Governor's decision to proceed with cutting 4.5 percent from university budgets by withholding it from the fourth quarterly allotments that are scheduled for today. Our budget is complex and nearly two-thirds personnel. We will likely have to tap some of our reserve funds to manage a $3.5 million reduction at this late date in the fiscal year, but we will make those decisions in the next few days.”
University of Louisville President Jim Ramsey also issued a statement Friday morning.
“In response to the Governor’s Executive Order, UofL understands the critical issue facing the General Assembly is to implement a plan that resolves the pension shortfall. UofL will respond to the gubernatorial directive of a 4.5% reduction in the 4th quarter, as we have responded to the 14 budget cuts over the past decade, by working with our faculty and staff to pursue plans that minimize the burden on our students. Our employees are disappointed with this news, but we will work to galvanize support for developing new fund sources that assure our faculty, students and staff have the resources to achieve our strategic goals.”
The Kentucky Community and Technical College System said the immediate funding reductions would result in further tuition increases.
"These deep cuts on top of the cuts received over the last seven years, and a tuition shortfall due to declining enrollment, mean people will lose jobs and programs will be eliminated," a statement from the group said. "KCTCS is also the only public, postsecondary institution that froze tuition this year, and we continue to be the most affordable. However, this cut to the state appropriation will increase the need to raise tuition, which directly impact the thousands of students who access higher education through the 16 colleges."
The Council on Postsecondary Education declined a request from WKU Public Radio about how they view the cuts.
Gov. Bevin issued a public statement Friday after news of the reductions became public.
“Our pension system is on the brink of insolvency. We have more than $35 billion in pension obligations," the statement read.
“It takes leadership from all stewards of taxpayer dollars to keep our commitments to our teachers and state workers. I appreciate our university presidents who recognize the magnitude of this challenge and are willing to participate and contribute to the solution.
“Once we get our fiscal house in order, Kentucky will be in a much stronger position to make additional investments in higher education.”
