Following a discussion among Western Kentucky University’s Board of Regents, a firm to search for the university’s next president has been selected.

The search firm selected was Isaacson, Miller, which is headquartered in Boston. As part of its assistance in locating a replacement for current President Gary Ransdell, who will retire in 2017, the firm will help develop a pool of applicants for the job, recruit candidates and conduct reference checks and screenings.

The decision was made during a board meeting Friday. As many as nine proposals were received in March, according to information provided at the meeting. The regents’ executive committee met March 12 to review the proposals and again April 1 to do interviews.

Phillip Bale, a board member who chairs the presidential search committee and also sits on the executive committee, told the Daily News the firm’s presentation was convincing because representatives had “done their homework.”

“They are acutely aware of the many challenges for higher education that are occurring, not only in Kentucky, but nationally,” he said. He added the firm has a national reach and strong network of contacts.

The firm’s past clients include Vanderbilt University, the University of North Carolina at Chapel Hill and the University of Illinois at Urbana-Champaign.

“The search firm has conducted searches for all those presidents,” Bale said.

Bale said he couldn’t share details of the contract with the firm, such as what it will cost the university, until it is approved by a Frankfort committee in May.

When the time came to approve selecting the firm, Regent Laurence Zielke was reluctant to approve without seeing the contract. But after later reviewing it, the motion passed unanimously.

Meanwhile, responding to a cut ordered by Gov. Matt Bevin, the board approved drawing up to $1.5 million from the university’s reserve fund if state money isn’t received by June 30.

After Bevin ordered an immediate 4.5 percent cut to Kentucky’s universities, WKU received $3,359,200 less in its fourth-quarter state money allotment April 1. The one-time cut has since been reduced to 2 percent following subsequent discussions.

Ann Mead, WKU’s senior vice president of finance and administration, said the timing of the cut so late in the current fiscal year gives the university limited options, thus creating the need to tap into its reserve fund.

WKU’s reserve fund is used in emergencies and to seize opportunities, such as picking up property. The current balance is $3,488,660.

Ransdell told the Daily News the reserve could be made whole by using unspent funds from the university’s divisions, such as academic affairs.

“They will all be assessed a proportionate amount to draw from their carry-forward money to replenish the reserve,” he said. Ransdell said last year’s carry-forward money can’t be used to make up the difference now because “most of those carry-forward moneys from last year have already been spent.”

“So therefore, draw down the reserve, close out the books, see what the carry forward is next year, proportionately draw from everybody to replenish it and the reserve fund is made whole,” he said.

Most of the regents voted to draw from the reserve, except Regent John Ridley, who voted no. Ridley saw the cut from Bevin as a mandate, not an emergency, and that it sets a bad precedent for anyone to draw down on the reserve fund.

“If we begin to set tradition or policies in our actions, then that opens us up for the next opportunity,” he said. “So is there enough deliberation of where the funds are coming from and what are they being used for, and that is my concern.”

In other business, the board approved changes to the athletic contracts of head football coach Jeff Brohm and athletic director Todd Stewart, along with approving the contract for new men’s basketball coach Rick Stansbury.

Effective April 1, Brohm’s annual salary will be increased to $800,000. Stewart’s contract now extends to June 2020 and includes salary supplements for postseason competition and championships, a balanced budget and progress on academic performance.

The board also officially approved a master’s program in child and family studies, along with other certificate programs. Among them were graduate and undergraduate certificates in brewing and distilling arts and sciences.

— Follow education reporter Aaron Mudd on Twitter @aaron_muddbgdn or visit bgdailynews.com.