Vice President Lockridge gave an overview of the FY 2014-2015 Governor's Executive Budget Recommendation. The Governor's recommendation includes a 2.5% reduction in all Public universities state appropriation and schools who contribute to KERS will receive 50% of their expected increase in cost for FY 14-15. Included is also a general fund capital project to replace KSU's boiler and the repair of aging distribution lines and an agency bond project to construct an athletics sports complex. Regent Davis-Jeter inquired if the reduction was for multiple years. President Sias stated that the reduction would be for year one of the biennium and will carry forth in year two. Regent Guarniere inquired if there were requests we were advocating but had been left out of the Governor's budget. President Sias responded nine million dollars for the Batty White Health Center and equitable funding for the Land Grant program were not in the Governor's budget for these requests.
Motion to adjourn the Finance and Business committee meeting was made by Regent Haskins and seconded by Regent Whitehead. The Finance and Business committee meeting adjourned at 10:24am.
Submitted by:
Approved by:
Anita Lockridge
Lavaughn Henry, Chairperson
Vice President for Finance
Finance and Business Committee
Administration Board of Regents
Kentucky State University Kentucky State University
___Minutes approved with no corrections
__Minutes approved with corrections