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Statement of Significant Financial Assumptions
| | Year ending
6/30/2017 | Year ending
6/30/2018 | Year ending
6/30/2019 | Year ending
6/30/2020 | Year ending
6/30/2021 |
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| Cash and cash equivalents | Projected based on changes in statement of financial position | | | | | |
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| Accounts, grant and loans receivable, net | Increase same as tuition increase | 4.00% | 4.00% | 4.00% | 4.00% | 4.00% |
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| Inventory and other current assets | | No change | No change | No change | No change | No change |
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| Accounts, grant and loans receivable, net | See current | 0 | 0 | 0 | 0 | 0 |
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| Investments, at fair value | Percent return per year. | 3% | 3% | 3% | 3% | 3% |
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| Capital assets, net | Capital purchases | 1,500,000 | 4,500,000 | 2,500,000 | 500,000 | 500,000 |
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| Deferred outflows - KERS | | No change | No change | No change | No change | No change |
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| Deferred outflows - KTRS | | No change | No change | No change | No change | No change |
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| Accounts payable and accrued liabilities | Change at same rate as change in expenses | 4.00% | 1.30% | 2.80% | 2.63% | 0.60% |
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| Accrued compensated abences | No change | 0 | 0 | 0 | 0 | 0 |
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| Unearned revenue | No change | 0 | 0 | 0 | 0 | 0 |
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| Deposits | No change | 0 | 0 | 0 | 0 | 0 |
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| Other current liabilities | No change | 0 | 0 | 0 | 0 | 0 |
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| Long-term debt, current portion | Bonds | 225,000 | 230,000 | 240,000 | 250,000 | 260,000 |
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| Energy Leases | 650,527 | 616,792 | 616,792 | 616,792 | 616,792 |
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| Frankfort | 50,000 | 50,000 | 50,000 | | |
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| Total debt service | 925,527 | 896,792 | 906,792 | 866,792 | 876,792 |
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| Net pension liability | No change | 0 | 0 | 0 | 0 | 0 |
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| Long-term debt, noncurrent portion | See current portion | | | | | |
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| Federal grants refundable | No change | 0 | 0 | 0 | 0 | 0 |
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| Deferred inflows - KERS | No change | 0 | 0 | 0 | 0 | 0 |
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| Deferred inflows - KTRS | No change | 0 | 0 | 0 | 0 | 0 |
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| Student tuition and fees: |
| Rate increase | % increase per year | 4.00% | 4.00% | 4.00% | 4.00% | 4.00% | 4.00% |
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| Total enrollment | Number of students | 1725 | 1800 | 1950 | 2100 | 2100 | 2100 |
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| % increase per year | 2.00% | 4.35% | 8.33% | 7.69% | 0.00% | 0.00% |
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| Less: Scholarship allowances | Discount % per year | 33.00% | 31.00% | 30.00% | 30.00% | 30.00% | 30.00% |
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| Federal grants and contracts | No change | 0 | 0 | 0 | 0 | 0 | 0 |
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| Federal appropriations | No change | 0 | 0 | 0 | 0 | 0 | 0 |
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| State and local grants and contracts | No change | 0 | 0 | 0 | 0 | 0 | 0 |
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| Auxiliary enterprises |
| Residence halls | | 4.35% | 4.35% | 8.33% | 7.69% | 0.00% | 0.00% |
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| Dining | | 4.35% | 4.35% | 8.33% | 7.69% | 0.00% | 0.00% |
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| Bookstore | | 4.35% | 4.35% | 8.33% | 7.69% | 0.00% | 0.00% |
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| Other auxiliaries | | 4.35% | 4.35% | 8.33% | 7.69% | 0.00% | 0.00% |
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| Other operating revenues | | 1,064,000 | 1,160,261 | 1,262,783 | 1,365,304 | 1,445,304 | 1,445,304 |
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| Expenses: |
| Educational and general |
| Instruction | Percent increase | 4.00% | 1.30% | 2.80% | 2.63% | 0.60% | 0.60% |
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| Research | Percent increase | 4.00% | 1.30% | 2.80% | 2.63% | 0.60% | 0.60% |
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| Misc. | 1,765,000 | | | | | |
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| Capital Purchases | (500,000) | (500,000) | (500,000) | (500,000) | (500,000) | (500,000) |
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| Public Service | Percent increase | 4.00% | 1.30% | 2.80% | 2.63% | 0.60% | 0.60% |
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| | 1,765,500 | | | | | |
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| Academic Support | Percent increase | 4.00% | 1.30% | 2.80% | 2.63% | 0.60% | 0.60% |
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| Student services | Percent increase | 4.00% | 1.30% | 2.80% | 2.63% | 0.60% | 0.60% |
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| Institutional support | Percent increase | 4.00% | 1.30% | 2.80% | 2.63% | 0.60% | 0.60% |
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| Oper and maint of plant | Percent increase | 4.00% | 1.30% | 2.80% | 2.63% | 0.60% | 0.60% |
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| Student aid | Percent increase | 4.00% | 1.30% | 2.80% | 2.63% | 0.60% | 0.60% |
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| Depreciation | Percent increase | 0 | 0 | 0 | 0 | 0 | 0 |
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| Auxiliary enterprises (% increase) |
| Residence halls | | 3.00% | 5.00% | 6.00% | 7.00% | 8.00% | 8.00% |
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| Dining | | 1,650,000 | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% |
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| Other auxiliaries | | 300,000 | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% |
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| Depreciation | | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% |
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| Non-Operating revenues (expenses): |
| State appropriations | Amount change each year | 3,300,000 | 0 | 300,000 | 0 | 0 | 0 |
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| Federal grants and contracts | No change | 0 | 0 | 0 | 0 | 0 | 0 |
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| Investment income (net of investment expense) | | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% |
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| Interest on capital asset-related debt | Balance * interest rate | 4.00% | 4.00% | 4.00% | 4.00% | 4.00% | 4.00% |
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| Other non-operating revenues | | | | | | | |
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| Endowment gifts | Estimate | 2,000 | 2,000 | 2,000 | 2,000 | 2,000 | 2,000 |
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