Northern Kentucky University President Cady Short-Thompson says Kentucky's recently approved state budget will keep the university's state funding at current levels, avoiding a predicted multi-million dollar shortfall.
In March, NKU said the original proposed budget bill would reduce spending on higher education statewide, resulting in an $8.5 million funding reduction for the university over the next two years.
At the time, Short-Thompson warned the school's leadership that the loss of funds would necessitate difficult financial decisions, including the elimination of what she described as "lower-impact, under-subscribed initiatives and programs."
For now, no major cuts have been announced, but NKU's state funding allocation isn't set in stone yet. On top of the base-level funding each school receives, universities in the Commonwealth also are awarded performance-based funding, which factors in a college's growth, academic outcomes and course completion.
Last fall, NKU experienced a slight decline in enrollment and received less performance-based funding than it had anticipated, resulting in staff cuts. Short-Thompson says NKU is still waiting to see how much additional revenue the state will send this time.
"The FY27 budget remains tight," she said. "We await the performance funding allocations which will complete the state appropriation allocation. Once known, the cabinet will then plan the next steps to finalize the FY27 budget in preparation for the June Board meeting."
NKU's Board of Regents is scheduled to meet June 10.
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