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Learn about University of Kentucky, including Featured News, Key Projects, The Team, and Outstanding UK Debt.
The University of Kentucky has a broad range of resources centered on a single campus in the heart of the Bluegrass. Our wide array of programs allows us to excel in multidisciplinary studies and fosters an environment of cooperative engagement across all colleges, programs, and research endeavors. Because of the lives we touch and teach, we remain anchored in our mission to Kentucky– to educate, innovate, heal, and serve. To be sure, our complex, multi-faceted mission looks different today in many ways than it did in 1865. However, our sense of responsibility to our communities on campus and across the region is resolute. The mission has evolved and grown. The vision of service to our Commonwealth and the world beyond remains the same. They remain our compass – the soul of the University of Kentucky.
LEXINGTON, Ky. (April 1, 2021) — University of Kentucky President Eli Capilouto sent an email to UK students, staff and faculty yesterday with an update on state legislative budget action regarding state funding for UK. Please see the email message below.
Dear Campus Community,
The 2021 session of the General Assembly officially came to an end late last night and with that legislators completed their work on a state budget for the coming fiscal year, which begins July 1.
For the University of Kentucky, the news is good, and we are deeply appreciative of the work of policymakers in continuing their commitment to higher education. Here are the details:
The investment in the state’s performance funding model is particularly noteworthy. UK has done exceptionally well under this model in recent years, and we anticipate that will continue this coming year. That performance is thanks solely to you: the work of our faculty, staff and students across the campus.
You’ve helped our students succeed and graduate at historically high levels. You’ve ensured that we are more diverse as a campus than at any time in our history. And you’ve worked to prepare our students for the jobs and work so critical to Kentucky’s present and future economy. That’s what the performance funding model rewards. And that is the exceptional performance, the result of hard and tireless work, that you sustain year in and year out.
Now, with the state budget for next year in place, we will begin the work of finalizing the university’s budget for next year, which our Board of Trustees will consider at its June meeting. We still have much to do, but we are optimistic about the continued progress we can make. We can accelerate as an institution as we emerge from the incredible challenges of the past year.
We can do this because of you. I want to, again, thank our policymakers for their continued commitment to this institution. And I want to thank you for all you do to make this community so vital to the state we are called to serve.
LEXINGTON, Ky. (March 12, 2021) — University of Kentucky President Eli Capilouto announced to the UK community today that plans are in progress to return to normal operations in the Fall 2021 semester. Please see the message below.
For the past year, I’ve had the honor to witness our community meet this moment in profound ways.
Our heroes on the frontlines of this pandemic worked countless hours, devoting time otherwise dedicated to loved ones to combat this unforgiving disease. Our faculty and staff adjusted in admirable ways to continue fulfilling our sacred missions of education, research, service and care. Our students found new ways to learn and engage, discover and grow in an environment so different from what they anticipated when they imagined their time in college.
Because of your efforts – your commitment to this place and its compelling purpose—I'm excited to share with you some initial planning assumptions regarding a return to normal operations in the fall of 2021.
Throughout this process, we will lean on our START team, leveraging our world-class experts to ensure a safe transition and implementation of our plans to return to campus operations. They will help us create specific measures and guideposts to monitor our progress as we begin to look to this fall.
** On-Campus Work**
We know that this past year has not been easy. But your hard work, your commitment to a safe and healthy community and the prospects of a campus that is vaccinated and protected make planning for a return to more normal operations possible.
After all, if I’ve learned anything from the past year, it’s that incredible things happen when we come together, united in a common purpose.
We can do this. We will do this. It’s who we are. It is what we do.
Thank you for being a community so dedicated to what is possible.
ASHLAND, Ky. (Jan. 29, 2021) — King’s Daughters Health System and UK HealthCare, the clinical health care system of the University of Kentucky, announced today their intent to enter into a significant partnership that will create new opportunities for both organizations to better serve patients throughout Kentucky, southern Ohio and West Virginia.
The executive committee of UK’s Board of Trustees and King’s Daughters' Board of Directors endorsed the formation of the new joint venture partnership during special meetings this morning. It is anticipated that the final operational details of the partnership will be announced in early April.
A new governing group will be formed for the proposed joint venture with equal representation of both UK and KDHS. David Jones, current chair of King’s Daughters Board of Directors, will serve as chair of the new board. Kristie Whitlatch, RN, MSN, will continue in her role as president and chief executive officer of King’s Daughters. While Whitlatch will join the UK HealthCare management team, no additional changes in management, compensation, benefits or job responsibilities are anticipated at either UK HealthCare or KDHS.
“Our goal in entering into this partnership is to strengthen local healthcare,” Whitlatch said, “not just in Ashland and eastern Kentucky, but throughout the Commonwealth and beyond.” King’s Daughters has enjoyed a longstanding, positive relationship with UK HealthCare, Whitlatch noted, including an affiliation with UK’s Markey Cancer Center.
“This is a win-win situation for two strong organizations,” said Dr. Mark F. Newman, UK executive vice president for health affairs. “This partnership builds on our existing relationship and creates mutual alignment between our two organizations,” he said.
The partnership will provide expanded access to tertiary-level services for residents of Eastern Kentucky and southern Ohio, including access to UK HealthCare’s solid organ transplantation program, bone marrow transplantation and expand on the existing relationship between UK’s Markey Cancer Center and King’s Daughters, Dr. Newman noted.
“We are excited to begin working more closely with our friends at UK HealthCare and being able to provide even better care, greater access, and advanced technology to our communities through this partnership,” Whitlatch said.
To see the Approved Recommendation from the UK Board of Trustees Executive Committee, click HERE.
**About UK HealthCare: **UK HealthCare employs more than 9,000 people with 945 licensed beds at UK Chandler Hospital, UK Good Samaritan Hospital and UK Kentucky Children’s Hospital. It also includes UK Markey Cancer Center, Gill Heart and Vascular Institute, Kentucky Neurosciences Center and more than 150 outpatient clinics and services.
About King’s Daughters: King’s Daughters Health System (KDHS) is comprised of two acute-care facilities – 465 licensed beds in Ashland and an additional 10 licensed beds at King’s Daughters Medical Center Ohio, located in Portsmouth. It also includes a long-term care facility, five urgent care centers and more than 50 physician practices serving the tri-state area from locations throughout Eastern Kentucky and southern Ohio.
The Cornerstone serves as the gateway to an emerging innovation district that will further link the University with the City of Lexington. The project is scheduled to be completed in fall 2020. The Cornerstone property will allow UK to provide much-needed additional parking capacity on the north side of campus, by expanding the existing parking structure at Limestone and Upper Streets to include more than 900 new spaces. These additional parking spaces will further improve mobility and access to, from and around campus for our students, faculty, staff and visitors.
The ground floor of The Cornerstone will include a flexible, technology-rich innovation space with a variety of programming to stimulate conversation and collaboration between students, faculty, staff and community. Other features of The Cornerstone include a gamers' lounge, a multiuse 100-seat theater that can host esports tournaments, hold classes, and be the home for a myriad of other events and a food hall with shared seating to create additional opportunity to build community and collaboration.
To read more about The Cornerstone project, please visit the website here.
The University's Renew/Modernize Facilities Capital Project is a multi-phase effort to renew and modernize buildings that make up the core of central campus. By rehabilitating, restoring, and modernizing these facilities, the University can better preserve its heritage, conserve energy, create an environment for more efficient and effective teaching, and attract productive researchers. The project will include modernization efforts on the Chemistry-Physics Building, Frazee Hall, Patterson Office Tower, White Hall Classroom Building, Enoch Grehan Journalism Building as well as other buildings in the core of central campus.
The University of Kentucky's Student Center was originally constructed in 1938 and expanded in 1968 and 1982. The Project replaced the outdated existing student center with a state-of-the art new facility, retaining the historic original 1938 portion of the building and preserving the Alumni Gymnasium originally constructed in 1924. The renovated and expanded facility accommodates a growing student enrollment and includes an atrium, recreation area, lounges, conference facilities, entertainment venues, retail space, food service, bookstore, student organization space, and administrative support offices.
The Albert B. Chandler Hospital Facilities Development Plan (Development Plan) provides for the systemic replacement and renovation of patient care facilities. Since the opening of the first two patient care floors in Pavilion A of the new patient care facility in May 2011, UK HealthCare (UKHC) has continued to experience strong patient demand for the delivery of its hospital system services. This volume increase has placed substantial capacity and throughout constraints on the hospital system operations, requiring continued fit-out of Pavilion A and the renovation of Pavilions H, HA, and G to provide adequate facilities for patient care.
The University of Kentucky primarily issues General Receipts Bonds. These bonds are secured by a general receipts pledge, as defined below. The total pledged revenues for FY 2020 were $3.1B.
"General Receipts" means:
(a) certain operating and non-operating revenues of the University, being (i) Student Registration Fees, (ii) nongovernmental grants and contracts, (iii) recoveries of facilities and administrative costs, (iv) sales and services, (v) Hospital Revenues, (vi) Housing and Dining Revenues, (vii) auxiliary enterprises – other auxiliaries, (viii) auxiliary enterprises – athletics, (ix) other operating revenues, (x) state appropriations (for general operations), (xi) gifts and grants, (xii) investment income, (xiii) other nonoperating revenues, and (xiv) other;
(b) but excluding (i) any receipts described in clause (a) which are contracts, grants, gifts, donations or pledges and receipts therefrom which, under restrictions imposed in such contracts, grants, gifts, donations or pledges, or, which as a condition of the receipt thereof or of amounts payable thereunder are not available for payment of Debt Service Charges, (ii) federal grants and contracts, (iii) state and local grants and contracts, (iv) federal appropriations, (v) county appropriations, (vi) professional clinical service fees, (vii) capital appropriations, (viii) capital grants and gifts, and (ix) additions to permanent endowments, including research challenge trust funds.
*General receipts debt includes the 2019A&B Certificates of Participation which have a subordinate general receipts pledge.
**The 2010 QECB's have a balloon payment of $12,955,000 coming due in 2025 and is reflected in the Annual Debt Service graph above.