KENTUCKY STATE UNIVERSITY Regular Meeting of the Board of Regents Finance Committee January 22, 2015 2:30 p.m. to 4:00 p.m. Board Room – Academic Services Building Frankfort, Kentucky
For Fiscal 2015, planned budget results and unaudited comparative financials are presented in item B3 as of December 30, 2014.
Dean|Dorton|Allen|Ford has completed the work on KSU's annual A-133 audited financial statements. This item is presented in the Audit Committee agenda as an action item.
A physical inventory of University fixed assets was started in November 2014. No physical inventory was taken during the month of December. To meet full inventory completion, a weekly schedule has been established through March and additional resources have been allocated. To date, nine of sixty-four buildings have been completed.
Students previously enrolled in the 12-month Payment Installment Option and who were current on their payments are able to add their Spring 2015 balances to their current plan with monthly payments adjusted accordingly. As of December 17, 2014, there were 249 students who had a balance remaining on their 12 month payment plan, with a total amount due of $827,292.
All other students were required to pay their prior balance in full before registering for Spring 2015. These students were offered a 4-month Payment Installment Option, with the first payment due on January 17, 2015, and the final payment due on April 17, 2015. To be eligible for the payment plans, a student must have paid fifty percent (50%) of their Spring balance.
The Payroll Office will mail out calendar year 2014 W-2s on or before January 30, 2015.
1099's and 1098-T's for calendar year 2014 will be mailed on or before January 30, 2015.
11