Mrs. Johnson gave an overview of the 2010 Financial Plan and the proposed 2009-2010 fee rates.

The budget was developed after careful consideration of concerns from faculty, staff and students. Year 2010 will be a very tight budget year and only a minimum amount could be reserved for contingencies.

The Council on Postsecondary Education (CPE) established a 4% increase cap on undergraduate full-time and part-time resident tuition. The university is proposing a tuition rate that caps and observes the CPE requirement. Additionally, CPE approved a non-resident floor multiple, which means non-resident tuition be at least two times the undergraduate rate. The university is proposing to move the Legacy/ Destiny rates to the CPE required minimum of two times the undergraduate resident rate.

Motion to accept the proposed 2009-2010 Financial Plan by the Finance Committee and the proposed 2009-2010 Rates for Tuition and Mandatory Fees, Course Fess, Room and Board was made by Regent Douglas and seconded by Regent Schrader. The motion passed.

Motion for adjournment of the Finance and Business Committee's April 24, 2009 meeting was made by Regent Schrader and seconded by Regent Douglas. The meeting adjourned at 10:26 am.

Submitted by: ___ Approved by: ___

Alice B. Johnson Vice President for Finance Business Affairs Kentucky State University

Wilbert W. James, Chair Finance and Administration Committee Board of Regents Kentucky State University

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