April 9, 2026 - UK's Annual Budget (The Business of UK)

LEXINGTON, Ky. (April 9, 2026) – When people hear that the University of Kentucky has an $8.6 billion budget, it can sound like a single pot of money. In reality, that figure represents an “all-in” financial plan that supports everything from patient care and research to student success, facilities, and the daily operations that keep a major public university running.

On this week’s episode of Behind the Blue, UK Strategic Communications’ Kody Kiser is joined by Dr. Eric Monday, the University of Kentucky’s executive vice president for finance and administration, for another installment of The Business of UK. The series is designed to bring greater clarity and transparency to how the university works. 

In the conversation, recorded earlier this spring, Monday breaks down what the $8.6 billion figure includes and how it is structured. He notes that roughly $5.1 billion is associated with UK HealthCare, about $3.3 billion supports the university’s education, research, and public service mission, and roughly $200 million is tied to athletics. He also explains that the university’s fiscal year runs from July 1 through June 30. The budget itself is a plan built from months of work and reviewed and approved by the UK Board of Trustees.

Monday addresses common misconceptions about the size of the budget, including the assumption that a large number automatically means unlimited flexibility. He explains that much of the university’s budget is restricted by purpose, including grant funding, philanthropic gifts, and certain reimbursements. Only a portion of funds can be shifted to address changing needs or priorities.

The episode also explores the state’s role in supporting UK’s mission. Monday notes that in fiscal year 2026, Kentucky’s state appropriation is $364 million, which is about four percent of the total budget. He describes it as the foundational investment that helps make possible the rest of the university’s work, including supporting instruction, keeping academic buildings running, and enabling capital projects.

Finally, the discussion looks at how external factors can influence budget planning, including shifts in federal grants, changes in health care reimbursement, and broader economic volatility. Monday also highlights how UK works with partners at the state, federal, and local levels, along with public-private partnerships, to invest in facilities and capacity that expand the university’s ability to serve Kentuckians.

Listeners are encouraged to submit questions and ideas for future ‘Business of UK’ episodes by emailing [e-mail]. Upcoming installments will explore how the university operates as a complex organization, including how decisions are made and resources are managed across the institution, as well as how UK works with partners in Kentucky and beyond to advance education, research, health, and service at a statewide, national, and global scale.

‘Behind the Blue’ is available via a variety of podcast providers, including Apple Podcasts, YouTube and Spotify. Subscribe to receive new episodes each week, featuring UK’s latest medical breakthroughs, research, artists, writers and the most important news impacting the university.

‘Behind the Blue’ is a production of the University of Kentucky. Transcripts for most episodes are now embedded in the audio file and can be accessed in many podcast apps during playback. Transcripts for older episodes remain available on the show’s blog page. 

To discover how the University of Kentucky is advancing our Commonwealth, click here.

This interview has been edited for time and clarity.