UK President Announces Softer Budget Cuts
University of Kentucky President Eli Capilouto says budget cuts won't be as drastic as first planned in fiscal year 2013-14 because of increased enrollment and higher tuition revenue.
Capilouto said during a campus-wide forum Monday that an additional $11.9 million is expected in tuition revenues next year, partly as a result of out-of-state students' higher tuition rates.
Among the budget measures Capilouto announced are 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.
Capilouto stressed the need to improve retention and graduation rates as part of UK's fundamental mission and a financial necessity.