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:

• A)Board of Regents Resolution Approving Budget Adjustment and Reduction in Force
• B)Letter from Kentucky Council on Postsecondary Education
• C)Letter from Office of State Budget Director
• D)Crosswalk of CPE Institutional Budgetary Responses to COVID-19