KENTUCKY STATE UNIVERSITY Board of Regents

DATE:December 5, 2019
SUBJECT:Quarterly Budget Update
FROM:FINANCE AND ADMINISTRATION
ACTION ITEM:NO

BACKGROUND: The Board of Regents approved the Amended FY2020 budget on June 6, 2019.

SUMMARY OF PROGRAMS/ACTIVITIES:

Personnel and operational costs are divided by organization structure. All payroll expenses are anticipated through 6/30/2020. Please note that some departments encumber their contractual obligations and fixed costs expenses through June 30, causing their remaining/available balance to appear lower than usual for the end of the first quarter.

ALIGNMENT WITH STRATEGIC GOALS:

Goal 1: Enhance Student Enrollment, Improve Student Life and Engagement, and Improve Student Advising and Career Development.

Goal 2: Achieve Academic Excellence Across all Programs and Colleges, Increase Student General Education Skills, Degree Persistence, Career Readiness and Graduation Rates.

Goal 3: Increase the University's Financial Strength and Operational Efficiency.

PROGRAM IMPLICATIONS: N/A

FISCAL IMPLICATIONS: The University is not operating within the approved budget.

RECOMMENDATION: N/A

ATTACHMENTS: YES