The College of Engineering adheres to the cost sharing policy of the University at large.  This is best detailed by a statement from the University of Kentucky Business Procedure Manual Appendix 1, which reads:

"The policy of the University is to make a cost sharing commitment only when required by the sponsor or by the competitive nature of the award and then to cost share only to the extent necessary to meet the specific requirements of the sponsored project. The cost sharing commitment must be included on the Internal Approval Form (IAF) and in the proposed budget. The responsible University officials must approve the cost sharing commitment on the Internal Approval Form [forms available from the Office of Sponsored Projects Administration (OSPA)]. "

The full document from the UK BPM is available here: http://www.uky.edu/Regs/BPM/Append1.html