Murray State Board of Regents Committee to Discuss Financial Challenges in Special Meeting

Nov 20, 2017

Credit Matt Markgraf, WKMS

The Murray State Board of Regents Finance Committee is holding a special meeting Tuesday afternoon to discuss financial challenges.

The board will discuss a budget overview and a perspective of key expenditures, review revenue sources for fiscal years 2018 and 19 and identify cost reduction and avoidance issues. No final decisions will be made in the meeting.

President Bob Davies said in a State of the University Address last week the upcoming legislative session will be difficult for state higher education, anticipating another decline in appropriation. Other pressures include increasing pension liability, enrollment, performance funding and facilities maintenance costs. 

Governor Matt Bevin and lawmakers approved a 4.5% reduction in higher ed appropriation in the previous budget. Lawmakers will set the next budget in the session beginning in January.

University officials are prioritizing academic and administrative units.