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**LEXINGTON, Ky. (June 16, 2023) — **The University of Kentucky Board of Trustees on Friday approved a $6.8 billion fiscal year 2023-24 budget for the institution that represents record-setting investments in the pillars of its mission — students, health care, research and service.
The budget — the largest in the institution’s history — is evidence that “UK is delivering on its promise to advance Kentucky,” said President Eli Capilouto. “We were created nearly 160 years ago with an essential mission and singular focus — to advance Kentucky — its health, its economy and its quality of life. With this budget, we demonstrate how we are honoring that mission today and how we are preparing to continue to honor our promise to the commonwealth for the future.”
The $6.8 billion budget is 21% larger than last year’s $5.6 billion original budget, a reflection of the acquisition and integration of King’s Daughters Medical Health System in Ashland into the university. The budget’s growth continues to be driven by the ongoing expansion of the university’s academic health system, its commitment to strategic growth of the student body and a thriving research enterprise. In fact, in 2011 when Capilouto arrived at UK the institution’s budget was $2.7 billion.
Additional details of the proposed budget include:
A promise to enroll and graduate more students
A promise to expand health care to more Kentuckians
A promise to pursue discovery and answers
A promise to take care of the people who advance UK and the state
“This budget is an example of promises made and promises kept — for all those we serve throughout the Commonwealth,” Capilouto said. “I am confident with the continued compassion and commitment of our people and our community that we can meet this moment as long as we remain focused on the mission that has guided our path for nearly 160 years: to advance Kentucky in all that we do.”
_As the state’s flagship, land-grant institution, the University of Kentucky exists to advance the Commonwealth. We do that by preparing the next generation of leaders — placing students at the heart of everything we do — and transforming the lives of Kentuckians through education, research and creative work, service and health care. We pride ourselves on being a catalyst for breakthroughs and a force for healing, a place where ingenuity unfolds. It's all made possible by our people — visionaries, disruptors and pioneers — who make up 200 academic programs, a $476.5 million research and development enterprise and a world-class medical center, all on one campus. _
_In 2022, UK was ranked by Forbes as one of the “Best Employers for New Grads” and named a “Diversity Champion” by INSIGHT into Diversity, a testament to our commitment to advance Kentucky and create a community of belonging for everyone. While our mission looks different in many ways than it did in 1865, the vision of service to our Commonwealth and the world remains the same. We are the University for Kentucky. _