FISCAL IMPLICATIONS: FY 2019-20 budget adjustment will yield a reduction of no less than $290,044 in current year spending costs. The reduction in force will save no less than $2,320,355 in operating costs during FY 2020-21.
RECOMMENDATION: The President recommends that the Board approves the proposed Budget Adjustment and Reduction in Force.
ATTACHMENTS:
Board of Regents Resolution Approving Budget Adjustment and Reduction in Force
Letter from Kentucky Council on Postsecondary Education
Letter from Office of State Budget Director
Crosswalk of CPE Institutional Budgetary Responses to COVID-19