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            "text": "4",
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            "text": "Budget Overview – Continued",
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            "text": "Asset Preservation",
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            "text": "Kentucky State University, like all universities, has invested millions of unmatched dollars in maintaining our facilities. In fiscal year 2019, KSU spent approximately $2.1 million on asset preservation and maintenance. For the 2020-22 biennium budget, CPE has requested $400 million, $200 million each year, for asset preservation. Based on the VFA study, it was projected that Kentucky universities would need approximately $7.3 billion to maintain and preserve capital assets. During the past 6 biennium, since 2008, the state has funded approximately 3.6% of the projected need."
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            "text": "Of the $200 million in asset preservation funding requested, Kentucky State University will receive approximately $10.7 million, of which 50% will need to be matched using tuition and fee restricted funds or state bonds. The $16 million in asset preservation funding will only address 14% of the $113 million in renovation and renewal funding that is needed. If awarded, these funds will be spend on replacing and repairing roofs for many of our buildings, and updating classrooms and residence halls. Many of our residence halls are 30-40 years old hand have not been properly maintained due to lack of funding."
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            "text": "KSU Student Recruitment and Retention",
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            "text": "Over the past 6 years, Kentucky State University has experienced a steep decline in both its student headcount and full-time equivalent (FTE) student enrollment. Between fall semesters 2012 and 2018, KSU's student headcount enrollment decreased by 806 students, or 23.4 percent, and its FTE student enrollment decreased by 946 students, or 39.5 percent. While, several economic factor may have caused the decline in enrollment, fiscal dedication to recruitment and retention may have contributed as well."
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            "text": "The loss in student enrollment resulted in marked declines in both gross billable tuition and fee revenue and total public funds during this period. In fact, between fiscal years 2011-12 and 2017-18, KSU's gross billable tuition and fee revenue decreased by $7.4 million, or 39.2 percent (CPE, Comprehensive Database)."
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            "text": "Among institutions in the comprehensive sector, the set of circumstances described above is unique to Kentucky State University. During the same period, the average increase in gross tuition and fee revenue among comprehensive universities other than KSU was $28.6 million, or 20.5 percent, and the average increase in total public funds revenue was $22.3 million, or 10.4 percent (CPE, Comprehensive Database)."
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            "text": "The loss in total public funds revenue has placed considerable stress on KSU's operating budget. Campus officials responded by implementing a number of cost savings and cost avoidance strategies, including personnel layoffs, a voluntary separation program, and elimination of vacant positions. Actions to stabilize university finances resulted in a balanced budget for Fiscal Year 2019, but due to lack of funding for asset preservation and increased pension costs projections indicate that, absent external intervention, KSU will be in an untenable financial position within the next two years."
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            "text": "Page 4 of 47",
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