Mr. Sturgill's Stewardship Report
Board Meeting - April 4, 1978


       We are rapidly coming to the close of another school year and what
an exciting year it has been! Another year of progress here at the University
of Kentucky. But a time, I think, when we should take a brief moment to
assess our stewardship as a board--so, Mr. President and members of
the board, I would like to make some general observations concerning our
University from my vantage point as your chairman.

       1. Let me say that, in my assessment, during the last few years
the University has made significant progress in all areas of endeavor and
this progress is unparalleled in the life and history of this University.

       2. What the people of Kentucky don't know, but should know, is
that this University is on the threshold of becoming a great University and
almost all of the colleges within the University not only have excellent ratings
but high national rankings.

       3. We have just come out of a legislative session which granted to
the University the necessary funds to make our projected budget a workable
one. We will receive during the first year of this biennium some 17 million
dollars in new money and in the second year of the biennium, some 11
million dollars. While this is not as much as requested and actually needed,
it is, nevertheless, significant enough to allow us to do the necessary and
fundamental things in the areas that need immediate financial attention and
to assure the continuation of necessary funds for existing programs. It
should be noted that only 49. 9% of our annual budget comes from public
funds. While there is no new money for construction in this immediate
appropriation, we do have underway building projects, both under construc-
tion and on our drawing board, that will allow us to meet the demands
of an ever-growing student population. Our bonding capacity is adequate
and the credit rating of the University is excellent.

       4. The student population growth has been such that today we have
in the University system nearly 42, 000 students and the demands on the
University far exceed those demands made on any other institutions of higher
learning in the State of Kentucky. We should point with pride to our Community
College System which has afforded the opportunity for an education at the
college level for students in all the four quarters of Kentucky which heretofore
had been denied to them. It is my view that the demand for higher education
from the young people of Kentucky will continue in an increasing manner.

        5. It is a matter of record that under the careful direction of Dr.
Singletary and his administration we have assembled one of the finest