The University of Kentucky is moving forward with ways to implement a five year financial plan. Members of Lexington’s Rotary Club got a briefing Thursday afternoon.
UK Vice President for Finance and Administration Eric Monday says the plan calls for cutting expenses or raising new revenues by $200 million. He told Rotarians UK operates on the investment side such as growing the Freshman class, retention related student assistance, paying bills more efficiently, and new classes. “It’s new programs, it’s new professional master’s degrees. It’s responding to the life-long learning needs of our students and our alums. So, it’s also new program development working with our faculty and our deans,” said Monday.
Monday realizes on-line educational offerings are a part of the mix. Still, the UK administrator says many students want the on campus experience. To that end, since President Eli Capilouto came to UK seven years ago, Monday says the school has spent $885,000 a day on capital improvements.