Northern Kentucky University announced an unexpected budget deficit of $18.7 million as well as a plan for combating it at a budget and strategic update meeting on Oct. 6. Following the meeting, top university officials spoke with The Northerner about the background and impacts of the deficit, as well as faculty reactions to the plan and what has changed since. In the university’s annual budget published in June this year, NKU projected its expense budget for 2022-2023 to be $271,475,728 and its revenue budget to be $265,975,728, resulting in a $5.5 million net difference. However, the university started noticing the additional deficit of $18.7 million around July or August, according to Jeremy Alltop, vice president for Finance & Administration and chief financial officer. The overall known deficit now sits at $24.2 million.
