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            "text": "KENTUCKY STATE UNIVERSITY\nManagement's Discussion and Analysis, continued",
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            "text": "June 30, 2014"
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            "text": "Financial Highlights, Continued",
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            "text": "- Unrestricted net position decreased $2.2 million, which the University reserves for spending in programs and other capital-related contingencies."
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            "text": "The University classifies amounts earned on endowments as spendable or non-spendable in accordance with the endowment's donor stipulations. Nonexpendable restricted net assets represent amounts, which must be maintained in perpetuity. Expendable restricted net assets include endowment earnings that are spendable, consistent with the University's spending policy."
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            "text": "- Operating revenues were $38.7 million and operating expenditures were $73.7 million, resulting in a loss from operations of $35.0 million. Net non-operating revenues were $30.9 million, including $23.5 million in state appropriations, which, when combined with the loss from operations and capital appropriations, resulted in an overall decrease in net position of $4.0 million."
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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": "Kentucky State University is a component unit of the Commonwealth of Kentucky."
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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 and liabilities. Net position, the difference between total assets and total liabilities, 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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