Dr. Aaron Thompson, President of the Council on Postsecondary Education, and Mr. Travis Powell, General Counsel of the Council on Postsecondary Education, presented this agenda item.
Dr. Thompson began by stating how much he enjoyed working with KSU's President, Dr. Akakpo, and thanked him for being a partner in the endeavor between CPE and KSU.
CPE’s budget was presented to the Kentucky General Assembly, requesting an inflationary adjustment to the budget for all campuses, as well as an increase in the performance funding pool and monies for capital improvements. If approved, CPE will ensure that KSU receives its fair share. CPE also requested additional funds to support KSU’s needs as its campus improves and programs expand.
Dr. Thompson noted that President Akakpo has been an active presence at the Capitol and very engaged on behalf of the University. Further, he commented that the KSU climate and culture is changing for the better. Dr. Thompson recognized that KSU does not yet have enough money; however, he sees that things are moving in the right direction and stated that CPE will work with the University to help build back the facility and human infrastructure to a level needed to reach the desired outcome.
Dr. Thompson then turned the presentation over to Mr. Powell, who addressed the Management Improvement Plan (“MIP”). Progress has increased and most deliverables from the last quarter were timely completed. Mr. Powell was pleased that the University is on a positive trajectory.
Chair Dukes queried whether Mr. Powell had any concerns or observed obstacles to reaching KSU's goals.
Regent Fletcher inquired whether a formula was used to determine how monies for improvements would be distributed between universities if the increased amount was, in fact, granted in the budget. He also asked whether specific requests for funding to assist with specific facilities in dire need of repair or renovation were being considered, above and beyond those funds generally allotted to the University for capital improvements.
Dr. Koffi C. Akakpo, President, presented this agenda item. President Akakpo opened by explaining the University’s past, the University’s current situation, and its projected future. President Akakpo also discussed the University’s current student enrollment, fall midterm grades, fall enrollment by residency, retention rates, degrees/credentials awarded, graduation rates, student-to-faculty ratio, Fall 2023 course offerings and the Fall 2023 advising scheme. He further provided a breakdown of financially/not financially enrolled students and the Fall 2023 housing report.
Next, he shared institutional and non-institutional aid metrics, as well as end of term balances for the past five (5) years. Overall, KSU ended the last fiscal year with a deficit of approximately $2.76M. To date, KSU has spent approximately 30% of the FY 24 budget.