The Morehead State University Board of Regents passed the budget for the 2018-19 fiscal year Thursday.
The plan totals $147.3 million dollars, which is a $4. 9 million dollar decrease from the 2017-18 year.
The budget reflects a decrease in revenue of $6.7 million dollars – due to decreased state funding and declining enrollment.
Chief Financial Officer Teresa Lindgren says the university cut $9.6 million dollars in personnel cost.
The Board voted to put 5% of the budget into a rainy day fund moving forward to allow for issues that could come in the future.