• Huron Companies
    • Innosight
    • Studer Education
  • Submit RFP
  • Careers
  • Technology Partners
  • Contact Us
  • About Us
  • Favorites
Huron Logo Huron Logo
  • Expertise
    • Business Operations
    • Care Transformation
    • Consumer Transformation
    • Digital
    • Organizational Transformation
    • Research Enterprise
    • Strategy & Innovation
    • Upcoming Huron Events

      View Events
  • Industry
    • Education
    • Energy & Utilities
    • Financial Services
    • Healthcare
    • Industrials & Manufacturing
    • Life Sciences
    • Public Sector
    • See All
    • We collaborate with the best and brightest in technology.

      Learn More About Our Partners
  • Our Experts
    • View All Expert Bios
    • Find an expert specialized in your industry.

      Book a Speaker
  • Insights
    • Articles
    • Case Studies
    • Research
    • Get the latest insights and updates from our experts.

      View All Insights
  • Investor Relations
    • News
    • Events
    • Financial
    • Stock Info
    • Corporate Governance
    • See All
    • Learn more about Huron and our most recent financial results.

      Investor Presentation
  • Contact Us
  • Expertise
    Expertise
    Business OperationsCare TransformationConsumer TransformationDigitalOrganizational TransformationResearch EnterpriseStrategy & Innovation

    Upcoming Huron Events

    View Events
  • Industry
    Industry
    EducationEnergy & UtilitiesFinancial ServicesHealthcareIndustrials & ManufacturingLife SciencesPublic SectorSee All

    We collaborate with the best and brightest in technology.

    Learn More About Our Partners
  • Our Experts
    Our Experts
    View All Expert Bios

    Find an expert specialized in your industry.

    Book a Speaker
  • Insights
    Insights
    ArticlesCase StudiesResearch

    Get the latest insights and updates from our experts.

    View All Insights
  • Investor Relations
    Investor Relations
    NewsEventsFinancialStock InfoCorporate GovernanceSee All

    Learn more about Huron and our most recent financial results.

    Investor Presentation
  • Careers
    Careers
    Join Our Talent CommunitySearch Open PositionsBenefits
  • About Huron
    About Huron
    The Huron DifferenceOur People & ValuesMaking an ImpactOur ResultsInvestor RelationsLocations
  • Help & Support
    Help & Support
    Contact UsSubmit an RFPBook a Speaker
  • Privacy
    Privacy
    Privacy StatementTerms & ConditionsCookies PolicyFraudulent OffersLabor Condition Applications
  • Contact Us
  • Favorites
    Recent Favorites
    You have no saved content.

University of Kentucky Navigates COVID-19 Crisis Funding Management

Favorite Bookmark
Download Email Subscribe Print Contact Us

Together, Huron and the University of Kentucky procured and managed federal stimulus funding critical to the institution’s viability amid the COVID-19 pandemic.

Challenge

As the COVID-19 outbreak continued, the University of Kentucky (UK) experienced drops in student enrollment and patient volume, unplanned shifts to online learning, changes to its healthcare payor mix and potential cuts to research funding. Leaders’ concerns grew over the ripple effect this significant financial disruption would have on the university and the health system.

Financial, operational and people-related challenges resulting from the COVID-19 crisis forced UK leaders to seek coronavirus relief funding available through the Coronavirus Aid, Relief and Economic Security (CARES) Act. Given the complex landscape of the funding and grants, UK leaders requested Huron’s guidance on which eligible expenses were best served by CARES Act funds.

Leaders also understood the need for excellent internal processes and reporting to exceed grant compliance requirements and provide a complete picture of the impact of COVID-19 on their organization.

Huron helped us acquire and manage pandemic relief funding so that we could remain focused on providing quality services to our patients and students. Working together, Huron’s team and our internal staff provided an infrastructure we can maintain through the remainder of this crisis.” —Craig Collins, VP and Chief Financial Officer, UK HealthCare

Approach

Huron supported UK leaders in the areas of funding procurement, funding management and governance, and financial reporting and modeling. The approach for identifying and managing funds included the following core activities:

Results

  • $75M in funding awarded, with over $25M in applications pending
  • Coordinated funding applications across higher education and healthcare institutions
  • Created executive dashboards to track COVID-19 funding opportunities and awards
  • Established processes and controls for applications and post-award compliance

Create a project structure and prevent siloed work. Huron facilitated communication between UK healthcare and UK campus teams to ensure all funding opportunities available to the institution were reviewed and appropriate steps were in place prior to submission of funding applications.

UK and Huron program managers created clearer lines of communication by bringing all relevant stakeholders together to discuss and pursue funding opportunities, and the teams prioritized recovery opportunities identified by the COVID-19 task force as critical to operations. Huron’s team continued to monitor and alert UK leaders about regulatory changes and provided guidance on best practices for grant management procedures.

Identify funding sources and coordinate applications across the UK system. Establishing COVID-19 application and funding governance was critical to avoiding potential pitfalls with compliance or missing critical funding opportunities.

Creation of a funding matrix helped the organization compare eligible expenses across funding opportunities. Additionally, the mapping of COVID-19 expense categories to funding provided guidance on which eligible expenses would best align to specific grants.

The Huron team helped guide pre-application eligibility in conjunction with UK’s Office of Sponsored Projects Administration (OSPA) and gathered the funding application requirements.

The team assisted UK leaders in developing processes and controls around the grant application process and post-award requirements specific to COVID-19 funding. As a result of these collective efforts, UK was awarded over $75 million for 20 specific areas or projects, with more than $25 million in pending applications.

Track, manage and monitor information critical to funding. The Huron team created an executive dashboard to show the status of COVID-19 funding opportunities and provided UK’s internal analytics team with guidance on how to implement and maintain the dashboard.

Huron worked closely with UK healthcare and campus task force teams to establish expense and lost revenue categories for COVID-19 to ensure streamlined and accurate reporting. Additionally, future-state expense reporting provided accurate expense allocation to prevent the “double dipping” of funding. With that data, the Huron teams reviewed existing budget templates and provided recommendations for COVID-19 budget forecasting.

The University of Kentucky is a public, land grant university dedicated to improving people's lives through excellence in education, research and creative work, service, and healthcare. As Kentucky’s flagship institution, the university plays a critical leadership role by promoting diversity, inclusion, economic development and human well-being.

Favorite Bookmark
Contact Us Download Email Subscribe Print
Contact Us
Business Operations Care Transformation Healthcare Education

Related Work

  • Mobilizing Crisis Management in New York City Amid the First COVID-19 Outbreak

    Read More

    In New York City, Huron and local officials mobilized citywide COVID-19 testing, staffing and suppression strategies amid the first coronavirus outbreak.

  • On the Front Lines: Elevating Test, Trace and Treatment Strategies

    Read More

    Learn how organizations can elevate testing, contact tracing, treatment and vaccine deployment strategies to protect their communities and prepare for the future.

View All

We use cookies on our website to provide you with a more personalized digital experience, enable website functionality and understand the performance of our site. You may review our Privacy Statement and our Cookies Policy. By using this site you agree to our use of cookies. I Accept

  • Expertise
    • Business Operations
    • Care Transformation
    • Consumer Transformation
    • Digital
    • Organizational Transformation
    • Research Enterprise
    • Strategy & Innovation
  • Industry
    • Education
    • Energy & Utilities
    • Financial Services
    • Healthcare
    • Industrials & Manufacturing
    • Life Sciences
    • Public Sector
  • About Huron
    • The Huron Difference
    • Our People & Values
    • Making an Impact
    • Our Results
    • Investor Relations
    • Locations
  • Help & Support
    • Contact Us
    • Submit an RFP
  • Careers
    • Search Open Positions
    • Join Our Talent Community
    • Our Commitment
  • Legal
    • Privacy Statement
    • Terms & Conditions
    • Studer Education: Subscription Product Terms of Use
    • Cookies
    • Fraudulent Offers
    • Labor Condition Applications
Huron Logo
  • LinkedIn Icon
  • Twitter Icon
  • Facebook Icon
  • Instagram
  • Youtube Icon

© 2022 Huron Consulting Group Inc. and affiliates. Huron is a global consultancy and not a CPA firm, and does not provide attest services, audits, or other engagements in accordance with standards established by the AICPA or auditing standards promulgated by the Public Company Accounting Oversight Board (“PCAOB”). Huron is not a law firm; it does not offer, and is not authorized to provide, legal advice or counseling in any jurisdiction.