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            "text": "KENTUCKY STATE UNIVERSITY",
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            "text": "Policies and Regulations",
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            "text": "POLICY TITLE:\nFinancial Exigency"
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            "text": "APPLIES TO:\nAll Departments and Units\nFaculty, Staff, and Students"
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            "text": "ADMINISTRATIVE AUTHORITY:\nKentucky State University Board of Regents\nOffice of the President"
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            "text": "APPROVED BY:\nKentucky State University Board of Regents"
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            "text": "EFFECTIVE DATE:\nAugust 8, 2025"
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            "text": "NEXT REVIEW DATE:\nAugust 8, 2028"
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            "text": "POLICY STATEMENT:",
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            "text": "Kentucky State University (KSU) recognizes that declaring financial exigency is an extreme and serious measure. It is to be taken solely when essential to preserve KSU's institutional integrity, ensure its long-term financial stability and viability, and enable it to continue fulfilling its core educational mission during severe financial circumstances. This policy is invoked only as a last resort after all other feasible cost-saving and revenue-generating measures have been explored and implemented, or have been determined to be insufficient to alleviate the financial crisis."
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            "text": "The authority to declare financial exigency resides exclusively with the KSU Board of Regents, upon recommendation of the President or by the Board's own initiative. This policy ensures due diligence, robust consultation, and transparency throughout the process of considering, declaring, implementing, and terminating financial exigency, and outlines the steps for managing such a declaration."
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