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To: Board of Regents Finance and Business Committee Date: October 23, 2009
From: Alice B. Johnson Vice President for Finance and Business Affairs
Subject: Approval of Revised FY10 Financial Plan
Reason for Consideration: Action Item Enclosures: Yes
Revision of FY10 Financial Plan is necessary due to reduction in FY 10 Enacted State Appropriation funding by General Fund Budget Reduction Order 10-01, issued on September 18, 2009 by Governor Steve Beshear. Kentucky State University's enacted FY 10 State Appropriation Funding was reduced by $2,540,600 from $27,180,100 to $24,639,500.
Educational and General Expenditure categories have been reduced to bring budgets in line with revised State Appropriations Funding FY 10:
| Academic Affairs Office | $249,800 |
|---|---|
| Academic Support | $350,697 |
| Finance | $200,000 |
| Information Technology | $158,404 |
| Utilities | $270,518 |
| Insurance | $131,783 |
| Student Affairs | $405,098 |
| Subtotal | $1,766,300 |
| Central Accounts | $774,300 |
| Total | $2,540,600 |
CPE also funded a Stewardship of Place grant in the amount of $288,000. Revenues and expenses for this grant have been reclassified to Restricted Funds.
Recommendation:
Approval of the Revised FY10 Financial Plan
| Initiator: | Alice B. Johnson Vice President for Finance and Business Affairs |
|---|---|
| Board Action Date: | October 23, 2009 |
| Effective Date: | October 23, 2009 |
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