The Morehead State University Board of Regents voted unanimously to decrease the annual budget by $4.9 million during its quarterly meeting Thursday.
The $135.4 million dollar budget was planned while considering the uncertainties of the COVID-19 pandemic, pension costs, and the economic climate. $3.8 million has been cut from personnel costs, down 5.4% from the 2019-20 fiscal year.
Vice President of Fiscal Services Mary Fister-Tucker says the university has increased the expenditures for instruction by .4%
Morehead State officials expect a decrease in enrollment, considering the uncertainties and fewer number of potential students. The budget projects a $3.9 million decrease in educational revenue for the 20-21 fiscal year.