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