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Kentucky universities to lose $45 million

According to the Lexington Herald-Leader, Kentuckys public universities will face a $45 million loss of their own funds on top of a $24 million cut in their state funding as the state struggles to resolve its budget crisis.
According to the Lexington Herald-Leader, Kentucky's public universities will face a $45 million loss of their own funds on top of a $24 million cut in their state funding as the state struggles to resolve its budget crisis.

Budget director Brad Cowgill met with university presidents last week to reveal plans to cut into the universities' restricted funds, which include tuition, hospital revenues, state and corporate research contracts and undesignated gifts. The presidents had just addressed the $24 million in cuts and were unaware it would apply to restricted funds, as well as their state funding.

The funds will be transferred from higher education accounts to the state's General Fund in this fiscal year, which ends June 30.

Consequences could include program reductions, layoffs and tuition increases.
—Excerpted from Lexington Herald-Leader