which was built on a projected enrollment of 1895 students. 230 students were dropped for no payment and the number reported was down to 1540. Every 100 less students represents approximately 1.25 - 1.5 million in lost revenue, with 310 students adding up to a 4-4.5 million dollar deficit. The committee discussed the Budget Memorandum "FY 16 Budget Kentucky State University", which accompanied the Board of Regents approval of the FY 16 budget. On page 1, under the heading of Revenue it states: " For contingency purposes, but not included in the proposed FY 16 budget, plans have been developed for a ten percent (10%) headcount reduction in each function should the FY 16 projected enrollment fall short. Thus, with any unexpected shortages in revenue, there is a plan to keep the budget balanced." Page 2 under the heading of Expenditures: "... were removed from individual accounts and placed in a category called "University general." All FY 16 requests for these times will flow through the University General account to ensure that only necessary and essential purchases are made. This account will also be used to balance the budget when other in-year eliminations do not balance the budget." Regent McFayden said that the budget that we see does not account for money brought in from external funding. He contends that the Administration is more top heavy now than before and it could be cut 10%. He said that 1.5M is needed for health insurance. A Senator said that there is a longstanding problem with payments not being made to Kentucky Deferred Compensation by the University although they are taken from employee paychecks. The meeting adjourned at 4:31 pm Minutes Submitted by: Reba Rye, Faculty Senate Secretary