Descriptions of Trust Funds
- Research Challenge Trust Fund
The Research Challenge Trust Fund is a repository for legislative appropriations designed to encourage research activities at the University of Kentucky and the University of Louisville. It includes the Endowment Match Program (the research university portion), the Research Challenge Program, the Enrollment Growth and Retention Program (the research university portion), and the Lung Cancer Research Program.
- Regional University Excellence Trust Fund
The Regional University Excellence Trust Fund supports activities at the comprehensive universities that achieve the goals of postsecondary reform. Initiatives funded through this trust fund include the Endowment Match Program (the comprehensive university portion), Programs of Distinction, the Enrollment Growth and Retention Program (for the comprehensive universities), and Action Agenda programs.
- Technology Initiative Trust Fund
The Technology Initiative Trust Fund supports projects that advance the State’s strategic agenda for postsecondary education. In 1998-2000, technology initiative funding was used to improve statewide and campus technology infrastructures, and to establish the Kentucky Virtual University and the Kentucky Virtual Library. In 2000-02, the trust fund supported an Equipment Replacement Program, a Network Infrastructure Program, a Public Communications Campaign, and a Faculty Development Program.
- Physical Facilities Trust Fund
The Physical Facilities Trust Fund is a repository for debt service appropriations needed to complete capital projects of a statewide nature. The General Assembly appropriated $31.6 million in debt service to this trust fund in 1998-00 to fund postsecondary education centers and capital renewal and deferred maintenance projects. The 2000-02 appropriation contained $20.9 million in debt service, providing funds to complete capital renewal and maintenance, renovation, and replacement projects.
- Postsecondary Education Workforce Development Trust Fund
The Postsecondary Education Workforce Development Trust Fund enables the Kentucky Community and Technical College System to provide specific workforce training for Kentucky businesses and industries. It serves as a repository for Workforce Development and Training, Enrollment Growth and Retention Program (the community and technical college portion), and KCTCS Administrative Systems funding.
- Student Financial Aid and Advancement Trust Fund
The Student Financial Aid and Advancement Trust Fund includes funding for the Kentucky Excellence in Education Scholarship (KEES) program. The KEES program was established by the 1998 General Assembly to ensure access to public and private universities and colleges in Kentucky. The program provides merit scholarships to Kentucky citizens based on their annual high school grade point averages and ACT scores. The program received $25.0 million in each year of the 1998-2000 biennium, and $37.5 million in recurring funds for 2000-02. HB 269 appropriated $63.0 million to the program in each year of the 2002-04 biennium.