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Figure 5: Former KSU Purchasing Director's FY2021 Monthly Fifth Third Credit Card Activity
KSU’s attempt to reduce its outstanding accounts payable in December 2020, is reflected in Figure 5 by the significant spike in the former Purchasing Director’s Fifth Third credit card activity. The December 2020 credit card balance of $428,871 was automatically paid from KSU’s bank account on January 26, 2021. The attempt to reduce KSU’s outstanding accounts payable in December 2020 corresponds with the timeline discussed in Finding 11 in which the former EVP for Finance provided incorrect accounts payable data to the President and Board Chair amidst questions and rumors of unpaid bills.
In addition to outstanding balances owed for invoices held outside of the Banner system, the official accounts payable report created through Argos did not include over $4.3 million owed to the State for funds advanced to KSU for a federally funded capital construction project and payments owed on its $5 million line of credit from the bank. In Figure 6, these items are collectively presented to give a visual graphic of KSU’s total debt for the period between July 20, 2020, and June 18, 2021.