WKU Public Radio News Staff
Mon November 5, 2012
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.