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            "text": "KENTUCKY STATE UNIVERSITY\nPOLICIES AND PROCEDURES",
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            "text": "POLICY TITLE:\nDebt Management Policy"
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            "text": "VOLUME, SECTION & NUMBER:",
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                    "text": "ENTITIES AFFECTED:"
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                    "text": "All Divisions and Departments"
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                    "text": "ADMINISTRATIVE AUTHORITY:"
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                    "text": "Finance and Administration"
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            "text": "APPROVED BY:",
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            "text": "Kentucky State University Board of Regents"
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            "text": "EFFECTIVE DATE:",
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            "text": "August 9, 2024",
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            "text": "POLICY STATEMENT:",
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            "text": "To fulfill its mission, Kentucky State University (KSU) must make ongoing strategic capital investments in academic, student life, and other plant facilities using an appropriate mix of funding sources—including state bonds and appropriations, philanthropy, and capital leases."
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            "text": "The purpose of the policy is to provide guidance on the strategic use of debt and to ensure the appropriate mix of funding sources are considered and utilized. Debt is a valuable source of capital project financing but should be limited to projects that relate to the mission and strategic objectives of KSU. The amount of debt incurred has an impact on the financial health of KSU and its credit rating."
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            "text": "This policy provides a discipline and framework to be used to evaluate the appropriate use of debt in capital financing plans."
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            "text": "PROCESS:",
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        },
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            "text": "Projects to be considered for debt financing must relate, directly or indirectly, to the mission of KSU."
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            "text": "KSU shall maximize the use of philanthropy, grants, state appropriations and state bonds to fund capital projects, strategically using taxable and tax-exempt debt to provide additional resources to support mission-critical investments. KSU will consider other funding opportunities when appropriate and advantageous to it."
        }
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