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Issuer Type: Public Higher Education
Subordinate General Receipts
On behalf of the University of Kentucky, I would like to welcome you to our investor relations website. We appreciate your interest in the University of Kentucky bonds and your investment in the public infrastructure throughout our campus, which benefit the students, faculty, staff, and Lexington community. We are committed to maintaining our strong bond ratings and to being as transparent as possible with the investor community and public at large. We look forward to using this platform as an extension of our transparency.
I hope you find this website useful as you seek to better understand the credit fundamentals of the University of Kentucky. Please do not hesitate to contact our office with suggestions for how we can improve. Thank you for your interest in our bond program.
Penny Cox, Treasurer
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.