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[5]

Part of Minutes of the University of Kentucky Board of Trustees

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- 5 - K. 1991-92 Budget Revisions (Reduction in State Appropriations) LECR LI President Wethington provided background information explaining the budget cut and its impact on the University. He reviewed the administration's plans for managing the cut and reminded the Board that a hiring freeze on staff positions had been put in place at the University. He said that the University's first priority, however, is to protect the jobs and salaries of existing University employees. He noted that University administrators will have flexibility in implementing reductions in their areas. President Wethington stated that this is a serious budget cut but assured the members of the Board that the educational mission of the institution will be protected. He mentioned that classes for students for the Spring semester would not be impacted by the budget cut. He added that there would be adding and dropping of classes and changes in class schedules as usual. He recommended that the proposed budget cut for 1991-92 and the recurring cut for 1992-93 be approved and that the administration be directed to put this budget cut in place after the framework is established. Mr. Sturgill moved approval of the recommendation. His motion, seconded by Mr. Burnett, carried. (See FCR 6 at the end of the Minutes.) President Wethington noted that most states in the Union had to work with a budget cut last year because of the economy. He said that the administration will do the best job that it can to enable the institution continue to function as an outstanding University. With the competitive salaries that the University was able to attain over the past two years, it is now in a more advantageous salary situation since budget troubles are severely impacting other states. He said that the University has a unique window of opportunity to bring in some faculty expertise that it has not had in the past and may not have in the future. Professor Bratt stated that the faculty, like the President, does not like the budget cut. She said that President Wethington had worked with the faculty and explained the budget cut to them. The faculty is supportive of the decision that this budget cut should be made to secure and protect the primacy of the educational mission and to protect current employees and their salaries. The faculty, therefore, support the budget cut proposal. L. Acceptance of Interim Financial Report for the University of Kentucky for the Four Months Ended October 31, 1991 (FCR 1) Mr. Ockerman continued with the Finance Committee report and recommended that the Board accept the interim financial report for the four months ended October 31, 1991. Mr. Burnett moved approval. Mr. Wilcoxson seconded the motion, and it carried. (See FCR 1 at the end of the Minutes.)