NKU passes budget with $2.1M surplus
Northern Kentucky University's Board of Regents approved a $222 million operating budget, resulting in a $2.1 million surplus for the 2026-2027 academic year, marking the second consecutive year without relying on reserves. To address financial challenges, NKU raised tuition by 2% and announced staff layoffs in Fall 2025, while also approving a 3% raise for salaried faculty and staff.
Northern Kentucky University (NKU) approved a $222 million operating budget on Wednesday, securing a $2.1 million surplus for the upcoming academic year. This marks the second year in a row the university has avoided using its cash reserves to cover expenses, following a peak deficit of $24 million in 2022 due to declining enrollment and rising costs from the COVID-19 pandemic. The budget approval comes alongside financial adjustments to sustain stability. NKU implemented a 2% tuition and fee increase for the 2026-2027 academic year, following a 3% rise the previous year. The university also announced staff layoffs in Fall 2025, citing smaller-than-expected state funding tied to academic performance. President Cady Short-Thompson acknowledged the progress but warned of further changes ahead. 'We will continue to reorganize to flourish and realize our goals,' she stated, emphasizing that long-standing practices will evolve to improve efficiency and attract more students. Despite financial constraints, the Board of Regents approved a 3% raise for salaried faculty and staff, balancing cost-cutting measures with employee compensation. NKU’s leadership remains focused on navigating ongoing financial challenges while maintaining academic quality.
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