KENTUCKY STATE UNIVERSITY
Statements of Revenues, Expenses and Changes in Net Position
Year ended 6/30/2015 (audited)Year ended 6/30/2016 (estimated)1 Year ending 6/30/2017 (forecasted)2 Year ending 6/30/2018 (forecasted)3 Year ending 6/30/2019 (forecasted)4 Year ending 6/30/2020 (forecasted)5 Year ending 6/30/2021 (forecasted)
Revenues:
Operating revenues
Student tuition and fees$ 16,948,859$ 14,504,697$ 15,084,885$ 16,344,473$ 18,359,747$ 20,506,001$ 21,326,241
Less: Scholarship allowances(5,431,851)(5,187,952)(4,978,012)(5,066,787)(5,507,924)(6,151,800)(6,397,872)
Net tuition and fees11,517,0089,316,74510,106,87311,277,68612,851,82314,354,20114,928,369
Discount %32%36%33%31%30%30%30%
Federal grants and contracts7,955,7557,254,0747,254,0747,254,0747,254,0747,254,0747,254,074
Federal appropriations6,665,5128,006,3328,006,3328,006,3328,006,3328,006,3328,006,332
State and local grants and contracts2,146,2402,554,0462,554,0462,554,0462,554,0462,554,0462,554,046
Auxiliary enterprises
Residence halls2,478,4461,949,9202,034,7422,123,2532,300,1202,476,9992,476,999
Dining2,229,5151,719,8951,794,7101,872,7802,028,7832,184,7962,184,796
Bookstore85,922-----
Other auxiliaries32,15433,02734,46435,96338,95941,95541,955
Other operating revenues1,741,780846,9851,064,0001,160,2611,262,7831,365,3041,445,304
Total operating revenues34,852,33231,681,02432,849,24134,284,39536,296,92038,237,70738,891,875
Expenses:
Operating expenses
Educational and general
Instruction12,125,4469,460,9019,839,3379,967,24810,246,33110,515,81010,578,905
Research6,017,0576,461,0127,984,4527,588,2507,300,7216,992,7306,534,686
Public Service7,638,3607,514,7409,580,8309,705,3819,977,13210,239,53110,300,968
Academic Support3,020,6992,859,0992,973,4633,012,1183,096,4573,177,8943,196,961
Student services6,315,3865,317,6465,530,3525,602,2475,759,1105,910,5755,946,038
Institutional support11,458,79110,749,74811,179,73811,325,07511,642,17711,948,36612,020,056
Operation and maintenance of plant5,229,7214,627,7244,812,8334,875,4005,011,9115,143,7245,174,586
Student aid7,612,0005,987,2466,226,7366,307,6846,484,2996,654,8366,694,765
Depreciation4,136,0613,847,5513,847,5513,847,5513,847,5513,847,5513,847,551
Auxiliary enterprises-----
Residence halls2,043,2101,844,9131,900,2601,995,2732,114,9892,263,0382,444,081
Dining1,929,3661,669,2711,650,0001,699,5001,750,4851,803,0001,857,090
Other auxiliaries685,719682,031300,000309,000318,270327,818337,653
Depreciation324,161302,992312,082321,444331,087341,020351,251
Total operating expenses68,535,97761,324,87466,137,63466,556,17167,880,52069,165,89369,284,591
Operating Loss:(33,683,645)(29,643,850)(33,288,393)(32,271,776)(31,583,600)(30,928,186)(30,392,716)
Non-Operating revenues (expenses)
State appropriations23,429,60023,429,60026,729,60026,729,60027,029,60027,029,60027,029,600
Federal grants and contracts5,024,9633,785,0043,785,0043,785,0043,785,0043,785,0043,785,004
Investment income (net of investment expense)280,360(209,844)461,208475,045489,296503,975519,094
Return %
Interest on capital asset-related debt(263,107)(445,054)(206,761)(168,590)(133,119)(95,247)(60,975)
Other non-operating revenues-------
Endowment gifts4,6361872,0002,0002,0002,0002,000
Net non-operating revenues28,476,45226,559,89330,771,05130,823,05931,172,78131,225,33231,274,723
(Decrease) increase in net position before cumulative effect of change(5,207,193)(3,083,957)(2,517,342)(1,448,717)(410,819)297,146882,007
Cumulative effect of change in account principle(93,364,175)------
Decrease in net position(98,571,368)(3,083,957)(2,517,342)(1,448,717)(410,819)297,146882,007
Net assets at beginning of year110,017,53611,446,1688,362,2115,844,8694,396,1523,985,3334,282,479
Net assets at end of year$ 11,446,168$ 8,362,211$ 5,844,869$ 4,396,152$ 3,985,333$ 4,282,479$ 5,164,486
See accompanying compilation report of independent accountants and summary of significant financial assumptions. FS Meeting Notice 12/12/16