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            "text": "KENTUCKY STATE UNIVERSITY BOARD OF REGENTS",
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            "text": "ACTION ITEM: 6D",
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            "text": "Approval of the Financial Exigency Policy."
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            "text": "FACTS:",
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            "text": "House Bill 250, an act relating to Kentucky State University, was signed into law on April 8, 2022. One of the corrective measures in HB 250 states as follows:"
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            "text": "[N]otwithstanding any existing Kentucky State University policies relating to financial exigency, the Kentucky State University board of regents shall execute a new financial exigency policy by May 15, 2022 that will expedite the restructuring of university operations. The board of regents shall provide a copy of the new exigency policy to the Council on Postsecondary Education and the director of the Legislative Research Commission by June 1, 2022."
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            "text": "The attached Financial Exigency Policy is an emergency response to address KSU's financial situation and the first of several processes and procedures to remediate KSU's financial shortfall."
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            "text": "This policy replaces the existing Financial Exigency Policy (2015) in its entirety."
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            "text": "BUDGETARY IMPLICATIONS:",
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            "text": "To Be Determined."
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            "text": "RECOMMENDATION:",
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            "text": "Acting President Stamps recommends that the Board of Regents Approve the Financial Exigency Policy."
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            "text": "MOTION:",
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            "text": "Approve the Financial Exigency Policy."
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            "text": "Page 32 of 41",
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            "text": "Office of the General Counsel",
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