The Board of Regents will have a special meeting at 9 a.m. Friday to consider WKU’s $387.8 million budget for the 2019-20 fiscal year that relies on more than $13.2 million in money left over from the current budget year to balance. 

The meeting will begin at 9 a.m. in Jody Richards Hall.

The 2020 fiscal year budget is $675,000 lower than the current year, which ends June 30, and will not fully implement WKU’s new RAMP budget model, according to the agenda packet released Monday.

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The RAMP, Resource Allocation and Management Planning, budget model is to be fully implemented in the 2020-21 budget, according to the agenda.

“Given the complexity of the new model, a compressed timeline for decision-making, and the need for additional training for budget officers in the colleges, there is a phased implementation of the new model,” according to the agenda.

The agenda also includes a list of reduction targets. The total reduction target from the colleges is $3.41 million, and the total reduction target from the auxiliary/support units is $5.23 million. The overall reduction target is $8,64 million.

Of the auxiliary/support units reduction, nearly $1.2 million in cuts coming from support units that operate under the provost. The chief facilities officer has a reduction target of $1.2 million and the university-wide reduction target is $1.3 million.

Other items on the agenda include election and approval of elected and appointed officers and a list of upcoming meeting dates.

An earlier version of this article says that the budget will be $675 million less than the current year. It is $675,000 less than the current year. Also, the RAMP model is to be fully implemented in 2020-21. The Herald regrets these errors.

News reporter Lily Burris can be reached at 270-745-6011 and [email protected]. Follow her on Twitter at @lily_burris.