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            "text": "KENTUCKY STATE UNIVERSITY\nMANAGEMENT'S DISCUSSION AND ANALYSIS (CONTINUED)\nJUNE 30, 2022",
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            "text": "Nonexpendable restricted net position represents amounts, which must be maintained in perpetuity. Expendable restricted net position includes private grants and contributions restricted for specific purposes and accumulated earnings on endowment assets. The expendable portion of net position decreased 2.9 million due to a decrease in the market value of securities."
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            "text": "Operating revenues were nearly $51.2 million and operating expenditures were $78.5 million, resulting in a loss from operations of $27.4 million. Net nonoperating revenues were $27.5 million, including $27.9 million in state appropriations, which, when combined with the loss from operations and capital appropriations, resulted in an overall increase in net position of $0.3 million."
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            "text": "During 2022, the University adopted Governmental Accounting Standards Board Statement No. 87 – Leases which requires certain leases to be recorded in the statement of net position."
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            "text": "Using the Financial Statements",
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            "text": "The University's Financial Statements consist of three financial statements: a Statement of Net Position (Balance Sheet); a Statement of Revenues, Expenses and Changes in Net Position (Income Statement); and a Statement of Cash Flows, along with the accompanying Notes to the Financial Statements. These financial statements are prepared in accordance with Governmental Accounting Standards Board (GASB) Statement No. 35, Basic Financial Statements – and Management's Discussion and Analysis – for Public Colleges and Universities."
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            "text": "Statement of Net Position",
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            "text": "The Statement of Net Position presents the financial position of the University at the end of the fiscal year and includes all assets, deferred outflows of resources, liabilities, and deferred inflows of resources. Net position, the difference between total assets and deferred outflows and total liabilities and deferred inflows, is an important indicator of the current financial condition, while the change in net position is an indicator of whether the overall financial position has improved or worsened during the year."
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