Policies and Regulations

POLICY TITLE:

Management and Financial Reporting

APPLIES TO:

All Finance and Administration personnel responsible for preparing internal financial reports and all KSU management who receive such reports

ADMINISTRATIVE AUTHORITY: Division of Finance and Administration Chief Financial Officer (CFO)

APPROVED BY:

Kentucky State University Board of Regents

EFFECTIVE DATE:

August 8, 2025

NEXT REVIEW DATE: August 8, 2028

POLICY STATEMENT:

Kentucky State University (KSU) shall prepare and distribute timely and accurate financial statements to internal management and the Board of Regents. The purpose of these reports is to provide essential information for decision-making, to monitor the success of financial objectives, and to ensure proper fiscal oversight of the university.

DEFINITIONS:

Statement of Net Position (Balance Sheet)

A financial statement presenting KSU's assets, liabilities, and net position, which provides a snapshot of the university's financial condition as of a particular date.

Statement of Revenues, Expenses, and Changes in Net Position (Income Statement)