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University of Kentucky

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Penny Cox

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

News & Highlights

April 1, 2021

News
Update on the State Budget

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:

  • UK will receive $266.2 million next year — July 2021 through June 30, 2022 — from the state in support of the essential work we do. That amount includes $80.6 million for mandated programs such as extension services, the University Press and the Kentucky Cancer Registry and $1.3 million for debt service on $14 million of State Bonds to improve the Sanders-Brown Center on Aging/Neurosciences Facilities.
  • In addition to that base appropriation, policymakers have appropriated about a 2 percent increase — $17.3 million — toward a performance funding pool in which all state universities and KCTCS compete for funding. The performance funding program for the universities measures progress in critical areas such as the advancement of students toward degrees, credit hours earned, and bachelor’s degrees awarded to low-income and underrepresented minority students and bachelor’s degrees awarded in specific areas including Science, Technology, Engineering, Mathematics and Health (STEM+H).
  • UK also will receive additional investments in cancer and spinal cord and head injury research funding that will be split with the University of Louisville.

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.

Thank you.

Eli Capilouto

Read Article

March 12, 2021

News
Fall 2021 Return to Normal Operations

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.

Dear Campus,

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.

In-Person Classes

  • The in-person class experience is invaluable to this institution and the success of our students, allowing them to interact with our world-class faculty who are experts in their fields.
  • Therefore, we expect – and are planning for – 2021 classes to return to levels of in-person instruction in similar numbers to that of fall 2019 in terms of course delivery and attendance.
  • We already are planning for that return. And over the summer, we will finalize details and release a comprehensive plan for our return to more in-person instruction, even as we leverage the investments we have made in technology and online learning to enhance what we do and how we do it.

** On-Campus Work**

  • The university has established a Return-to-Work Committee with employees from across campus who are formulating a plan for our efforts to return to campus this fall.
  • While we still will offer flexibility to supervisors in determining remote work options for their respective units, we are prioritizing getting our employees back on campus so we can continue to fulfill our promise as Kentucky’s university. We are a residential research campus. It is part of what makes us distinctive and special. We must have the staff on campus to support that environment.
  • With more than 6 million square feet of new, modern and high-tech space constructed over the last 10 years, we have the capacity and quality of facilities to ensure an in-person learning and teaching experience for our students, faculty and staff in a safe and healthy environment.

Residential Living

  • The University of Kentucky is known for its transformative residential experience.
  • We’ve created state-of-the-art living and learning spaces that give our students opportunities for connection and engagement, such as our Gatton Student Center, The 90, Jacobs Science Building and new e-sports gaming lounge at The Cornerstone.
  • We are planning for a more robust residential experience, even as we will continue to be guided by the latest science and recommendations from our START team and the CDC.

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.

Eli Capilouto

Read Article

January 29, 2021

Press Release
UK HealthCare, King’s Daughters Announce Significant Partnership

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.

Read Press Release