Kentucky Gov. Matt Bevin has ordered an immediate 4.5 percent cut in funding for state universities and colleges.
The Louisville Courier-Journal reports that Bevin's directive came as negotiations over Kentucky's broke down in the state house and senate over the issue of funding for state universities and state pension programs.
The cuts affect eight state universities and the Kentucky Community and Technical College System.
Bevin issued this statement about the cuts:
“Our pension system is on the brink of insolvency. We have more than $35 billion in pension obligations.
“It takes leadership from all stewards of taxpayer dollars to keep our commitments to our teachers and state workers. I appreciate our university presidents who recognize the magnitude of this challenge and are willing to participate and contribute to the solution.
“Once we get our fiscal house in order, Kentucky will be in a much stronger position to make additional investments in higher education.”
State university presidents have complained that their institutions would be badly damaged by Bevin's proposed cuts.
