ACTION ITEM:

Approval of Repayment of Deficit State Construction Accounts.

FACTS:

Pursuant to HB 250, Vice President Dr. Gerald D. Shields submitted on behalf of Kentucky State University a request to Kentucky's Council for Post-Secondary Education for the disbursement of $17.5 million on April 12, 2022. As part of that request, Dr. Shields included the repayment of Deficit State Construction Accounts totaling approximately $5 million. Kentucky State University now seeks the approval from the Board of Regents to do so.

BUDGETARY IMPLICATIONS:

Kentucky State University shall repay the Deficit Contraction Accounts with the funds allocated as part of HB 250.

RECOMMENDATION:

Acting President Stamps recommends that the Board of Regents approve the repayment of deficit state construction accounts.

MOTION:

Approve Repayment of Deficit State Construction Accounts.

Finance and Administration