Fiscal 2014 Budget vs. Actual and Financial Statements (unaudited)
For Fiscal 2015, planned budget results and unaudited comparative financials are presented in item B3 as of September 30, 2014.
Dean|Dorton|Allen|Ford has completed the work on KSU's annual audited financial statements. KSU submitted to the Finance & Administration Cabinet Office of the Controller the completed audit reports and closing package on October 15th.
The Financial Plan for FY 14-15 was approved at a meeting of the Board of Regents (BOR) on June 4, 2014. Because of a realized reduction in revenue due to lower enrollment, the budget department is analyzing the impact on the University and is working on a reforecast of expenditures. The Cabinet is discussing and entertaining all savings opportunities.
Beginning in Fall 2014, new and returning students were required (at a minimum) to pay 50% of their Fall 2014 tuition/fees and to sign up for a four (4) or twelve (12) month Payment Installment Option (PIO), depending on whether they did not or did have a prior balance, respectively. Payments are due on the 30th of each month. Students who did not make a payment on September 30th, or who had a payment returned by the bank, were contacted by email and phone by October 8th. As of October 6, 2014, the following had occurred in regards to returned/non-payments for students on payment plans:
Payments returned by the bank – 30 students, total student account balance $202,547 No payment received for PIO – 99 students, total student account balance $418,492
The Student Billing and Collection Office participated in Homecoming events that took place the week of October 13th.
Refer to the Human Resources Update contained within.