LEXINGTON, Ky. (WBKO) -- University of Kentucky trustees have approved a $2.7 billion spending plan for the coming year.
The spending blueprint amounts to an increase of 2.7 percent, or $71 million, over the budget for the current academic year.
The spending plan includes a 3 percent tuition increase for in-state, undergraduate students. That would be the lowest tuition increase in 15 years at the state's flagship university. The plan includes a 6 percent tuition increase for out-of-state undergraduates.
The budget provides $20.2 million for faculty and staff raises and benefit adjustments, including a 5 percent merit-based pool for faculty and staff.