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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.
By UK Athletics June 24, 2021
**LEXINGTON, Ky. (June 24, 2021) — **The following are statements from University of Kentucky Athletics Director Mitch Barnhart, Kentucky men's basketball head coach John Calipari, Kentucky football head coach Mark Stoops and Kentucky women's basketball head coach Kyra Elzy regarding today's executive order by Gov. Andy Beshear on name, image, likeness.
Mitch Barnhart will also be available to the media via virtual press conference on Friday at 2 p.m.
Mitch Barnhart, UK athletics director "Today's executive order from the Governor provides us the flexibility we need at this time to further develop policies around Name, Image and Likeness (NIL). We are appreciative of that support as it is a bridge until such time as state and/or federal laws are enacted. The landscape of college sports is now in the midst of dramatic and historic change — perhaps the biggest set of shifts and changes since scholarships were first awarded decades ago. What won't change is our core and most important principle — the well-being and development of our student athletes, while they are at UK and, as importantly, in preparing them for success in life, on whatever path they choose. We are extremely well-positioned to help our student-athletes navigate this new and complex terrain. Much of what we need to do to support students in terms of NIL — through The Kentucky Road initiative — has been in place for some time. We have a strong foundation, which we will now work to build on."
You can read more about The Kentucky Road initiative here: https://ukathletics.com/news/2019/10/15/general-uk-unveils-the-kentucky-road https://ukathletics.com/news/2021/6/16/general-uk-athletics-affirms-commitment-to-student-athletes-through-the-kentucky-road.aspx
John Calipari, UK men's basketball head coach "We are entering into an exciting age in college athletics. At the University of Kentucky, we have always put student-athletes first and today's executive order by Gov. Andy Beshear — who I want to thank for making this a priority — will empower universities across the state to support their young men and women better than ever. Whether we are talking about name, image and likeness, lifetime scholarships, financial literacy, health and wellness, or player welfare, student-athletes have been at the center of every decision at Kentucky. With today's announcement, we continue to take positive steps forward in supporting our student-athletes to an even greater degree statewide. They deserve our time, effort and resources in making sure they have the opportunities to benefit from the hard work they put into their athletic and educational careers. As we wait on federal legislation, our program will continue to support, elevate and educate our kids."
Mark Stoops, UK football head coach "Supporting our student-athletes is at the center of Kentucky Athletics and today's announcement is another step in that direction. Name, image and likeness issues are at the forefront of college athletics and we appreciate Gov. Beshear helping us address current needs while long-term solutions are being developed on the national level. Our established principles of educational excellence, athletic success and personal development have us well-positioned as the NIL process begins."
Kyra Elzy, UK women's basketball head coach "I appreciate Gov. Beshear stepping up and making student-athletes in the state of Kentucky a priority. The University of Kentucky has been a leader in name, image and likeness. I know our administration will work with the Governor's office to ensure that student-athletes in Kentucky will continue to take the necessary steps to stay atop of NIL issues."
By Jay Blanton June 16, 2021
**LEXINGTON, Ky. (June 16, 2021) — **University of Kentucky President Eli Capilouto says UK’s mission is to advance Kentucky — its health and education, its economy and quality of life.
UK’s proposed $5.1 billion budget for fiscal year 2021-2022, which the Board of Trustees considers Thursday, honors that mission, Capilouto said, by investing heavily in the people who do the work that makes advancing Kentucky possible — the university’s faculty, staff and students.
“We have a special community, whose mission for more than 156 years has been to serve our state. It’s why we were created, and it’s the mission we seek to honor every day,” Capilouto said. “That vital work is only possible when we make college more affordable for students and families. It’s only possible when we invest in the people who do the teaching and research and provide the lifesaving care, which does so much to make our state stronger and healthier.”
To that end, Capilouto said that the proposed budget further invests in students and families by continuing historic steps to hold down the cost of a college education and in UK’s faculty and staff, with substantial measures to increase compensation and benefits.
Investing in Students and Families
The proposed budget would if approved by the Board:
Investing in UK’s People
The budget, if approved, would also:
Breaking Down the UK Budget
Eric N. Monday, UK’s executive vice president for finance and administration, said the proposed budget of nearly $5.1 billion is the largest in the university’s history and is about $700 million more than last year. UK’s overall budget has grown by nearly 90% in the last 10 years, nearly double what it was in 2012.
Here’s how the component parts of the budget break down:
“When you think about your budget, it’s the best evidence of what you value,” Monday said. “It’s the best evidence of what you want to achieve, because it’s where one of the most precious resources — our funds, our students’ money, our state’s money — are invested. And the question is, what do you want to achieve? For this institution, as President Capilouto has said, we invest in our students and our people because that’s how we do the most to advance our state.”
The University of Kentucky is increasingly the first choice for students, faculty and staff to pursue their passions and their professional goals. In the last two years, Forbes has named UK among the best employers for diversity, and INSIGHT into Diversity recognized us as a Diversity Champion four years running. UK is ranked among the top 30 campuses in the nation for LGBTQ* inclusion and safety. UK has been judged a “Great College to Work for" three years in a row, and UK is among only 22 universities in the country on Forbes' list of "America's Best Employers." We are ranked among the top 10 percent of public institutions for research expenditures — a tangible symbol of our breadth and depth as a university focused on discovery that changes lives and communities. And our patients know and appreciate the fact that UK HealthCare has been named the state’s top hospital for five straight years. Accolades and honors are great. But they are more important for what they represent: the idea that creating a community of belonging and commitment to excellence is how we honor our mission to be not simply the University of Kentucky, but the University for 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.
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.