RICHMOND, Ky. (WKYT/ WYMT) - Eastern Kentucky University's Board of Regents has approved a $332 million budget, up slightly from this year.
The school also said 180 staff members have taken a voluntary buyout offer and 16 faculty members have decided to take early retirement as part of the school's plan to reallocate funds to allow incoming president Michael Benson to make strategic decisions.
The school said fewer than 20 staff members will be affected by involuntary layoffs.
The budget includes $19.7 million identified by the budget reallocation task force.
Use of the funds could include improved salaries and benefits for faculty and staff, but EKU said specific use hasn't been determined.
The board previously approved a 2.95 percent increase in undergraduate tuition for Kentucky residents.