Other Sources consist of: reimbursements, rebates, interest income, and investment income.

State Appropriations Operating changed by $200k in the FY24 revised budget due to West Louisville being moved to a grant fund.

State Appropriations - Debt Service remains unchanged in the FY24 revised budget.

Total revenue for the revised FY24 budget totals $32,528,394.

Personnel services are slightly higher because of an estimation of additional positions that will be needed in facilities. This total also includes every position being filled.

The vacancy credit consists of knowing that every vacant position will not be filled at any given time during FY24.

The EAB contract was removed from Operating Expenditures which is the difference between the FY24 recommended budget and the FY24 revised budget.

Maintenance expenditures were lowered due to the cancellation of the $3 million Sodexo Facilities contract.

Based on prior year trends, other expenses included rental expenses, non-mandatory transfers, books/periodicals, and computers.

Auxiliary's revenue and expenditures were adjusted based on current enrollment.

Services and Contracts include Sodexo Dining, Follett (bookstore) and the new residence hall payment.

Building and Equipment Reserves are for renovations.

Based on FY24 revenue and expenditures, there will be a surplus of $460,894, which will be placed into contingency.

President Akakpo recommends that the Board of Regents approve the revised budget for FY24.

Approve the revised budget for Fiscal Year 2024.