Western Kentucky University's Board of Regents finalized a budget cut plan proposed by President Gary Ransdell at a special meeting Friday morning. The plan will cut a state-mandated $5.6 million dollars from this fiscal year's budget.
$3.2 million are recurring cuts that will be permanently taken out of the university's annual budget, while $2.4 million are one-time cuts.
Dr. Gary Ransdell, WKU's president, says long hours of work by a committee of more than 30 division representatives and financial advisors helped formulate a plan that will not raise tuition and will not force any faculty out of their jobs.
Budget Cut Plan Overview:
- Savings on energy costs, office supplies, credit card usage, and cell phones
- Limit vacation day accrual for employees to 20 days
- Reduce overtime payments
- Eliminate 50% discount on athletic tickets for faculty & staff
- Benefits for new hires will now start on 1st day of 1st full month of employment
- Increases in transcript and graduation fees
- Increase in tuition rate for classes beyond 18 credit hours