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            "text": "Notes to the Financial Statements, continued",
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            "text": "The following is a schedule of future minimum payments required for the capital lease obligations at June 30, 2015:"
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            "text": "The University leases computer equipment under operating leases which expire on various dates through 2017. Lease payments to the lessors under these leases totaled $106,104 and $122,016 for the years ended June 30, 2015 and 2014, respectively."
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            "text": "All faculty and exempt employees required to hold a degree and occupying full-time positions, defined as seven-tenths (7/10) of normal full-time service on a daily or weekly basis, are required by state law to participate either in the Kentucky Teachers Retirement System (KTRS) or the Optional Retirement Plan (ORP)."
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