��ݮ��å��Ƶ Board of Regents

Board Meetings

��ݮ��å��Ƶ Board of Regents

Kentucky Community and Technical College System (��ݮ��å��Ƶ)
Board of Regents Meeting – March 14, 2024
��ݮ��å��Ƶ System Office, Versailles, KY

Meeting Highlights:

Ratified the ��ݮ��å��Ƶ Colleges’ Candidates for Credentials.
The Board approved the awarding of ��ݮ��å��Ƶ colleges’ candidates with the credentials (degrees, diplomas, and certificates) to be awarded to the candidates upon certification that the requirements have been satisfactorily completed.
Huron Project Update.
In June 2023, the ��ݮ��å��Ƶ Board of Regents approved the top twelve priorities from the Huron Report. An update was provided on the progress on each of the twelve priorities.
Approved the ��ݮ��å��Ƶ Fiscal Year 2022-2023 External Audit.
The Board received an External Audit report from Forvis representatives and approved the Fiscal Year 2022-2023 External Audit.
Approved a 3% budget reserve for FY2025.
Budget reserves are used to finance operating activities in case of unexpected events that adversely affect access to ��ݮ��å��Ƶ operating funds. Essentially budget reserves act as a cushion to handle unforeseen financial challenges. The Board approved the recommended budget reserve of 3%.
Approved ��ݮ��å��Ƶ 2024-2025 Tuition.
The Board approved a $3 per credit hour tuition increase. The 2024-2025 per credit hour tuition rates for ��ݮ��å��Ƶ colleges will be: $189 for In-State Students and $260 for Out-of-State Students.
Ratified Personnel Actions.
A report was received about personnel actions and ratified.

Approved ��ݮ��å��Ƶ Capital Construction Projects
The Fire Commission requested authorization for $4 million to purchase property in the industrial park in Mount Sterling, Kentucky that would allow them to consolidate some of their other smaller locations into this one larger and more accommodating facility. Jefferson Community and Technical College requested an interim scope increase of $7,000,000 to provide the total funding necessary to construct a new parking garage on the Downtown Campus. The Board approved both Capital Construction Projects.
Approved a Quorum and Voting Procedure.
The Board approved the procedure that clarified policies on determining quorum and proper voting procedure.

Other Highlights:

Received updates/reports on the following items:

��ݮ��å��Ƶ Board of Regents Chair Barry Martin provided an update to the full Board on the February 16, 2024, Audit Committee meeting.
Update on the ��ݮ��å��Ƶ Strategic Plan 2022-2026 Key Performance Indicators.

��ݮ��å��Ƶ Financial Report Update

��ݮ��å��Ƶ Budget Scenarios report.

Next Regular Meeting – June 13-14, 2024

The ��ݮ��å��Ƶ Board of Regents will conduct its next regularly scheduled meeting at Southcentral Community and Technical College in Bowling Green, KY.