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Kentucky State University Board of Regents Meeting Finance Update

Presented by Anita Lockridge, VP Finance and Administration September 12, 2014

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Topics of Discussion

Overview of Approved FY 14/15 Financial Plan

โ€ข Monthly Activity Reports

Review of Revenue Assumptions

Financial Position Update for FY 14/15

Personnel

Suggestions to Close the Budget shortfall gap

Student Accounts

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Deepening Location Growing Location Adventuring History

KENTUCKY STATE UNIVERSITY FY 2014-15 FINANCIAL PLAN

FY 2014-15 Approved Budget
UNRESTRICTED
State Appropriations :
Base Funds - General$19,788,300
Land Grant Match$3,371,200
Designated$270,100
State Appropriations Total$23,429,600
Tuition & Mandatory Fees Fall, Spring & Summer$20,205,500
Student Tuition & Fees$20,205,500
OTHER REVENUE
Other Sources$2,182,000
Fund Balance$1,500,000
Other Revenue$3,682,000
Total University Revenue$47,317,100
AUXILIARY ENTERPRISES$6,187,500
TOTAL REVENUE$53,504,600
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Expenditures By Major Function Education and General

Education and General
Instruction$12,985,000
Research$1,942,100
Public Service$1,621,100
Academic Support$2,174,600
Student Services$5,749,100
Institutional Support$12,351,600
Operations & Maintenance$5,450,600
Student Financial Aid$5,043,000
Total Education and General$47,317,100
Auxiliary Enterprises
Resident Halls$2,957,200
Dining$2,513,800
Other Auxiliaries$716,500
Total Auxiliary Enterprises$6,187,500
TOTAL UNIVERSITY EXPENDITURES$53,504,600
SURPLUS / (DEFICIT)$0
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KSU Approved FY 2014-15 Financial Plan Summary of Expenditures by Category

AreaPersonnel & BenefitOperatingOtherTotal
AA$14,110,200$ 1,401,800$ 15,512,000
Student Affairs3,490,900962,9004,453,800
External Relations2,353,3004,118,0002396,471,539
Business Affairs2,309,100914,6003,223,700
President's Office2,916,4002,985,1005,901,500
Scholarships4,792,1004,792,100
University-Contingency750,000750,000
Land Grant2,872,981498,1853,371,166
Total28,052,88110,880,5855,542,33944,475,805
Auxiliary1,522,0944,665,4016,187,495
Additional Expenses50,663,300
2,841,300
$ 53,504,600
Financial Plan$ 53,504,600

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Kentucky State University YTD Budget Vs. Actual

REVENUE ACCOUNTACCOUNT_DESCBUDGETYTDBALANCE
Total State Appropriations23,429,6007,028,88016,400,720
Fall Total Tuition9,830,4598,159,1311,671,328
Spring Total Tuition9,830,459(74,942)9,905,401
Summer Total Tuition544,582232,746311,836
Other Fees3,682,000688,0302,993,970
Auxiliary Enterprises Total6,187,5002,616,7323,570,769
Total Revenue53,504,60018,650,57734,854,023
EXPENSES
ACCOUNTACCOUNT_DESCBUDGETBALANCE
6000sSalaries and Benefits14,528,2612,746,62511,781,636
7100sOperating Expenses12,991,5323,916,4369,075,096
31000sAuxiliary4,665,4012,014,7452,650,656
Total Expenses32,185,1938,677,80523,507,388
NET21,319,4079,972,77211,346,635

REVENUE

*NOTE - Budget represents a portion of total budget as of 9-8-14 10:46am

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Revenue Components

โ€ข State Appropriations $23,429,600

& Mandatory Fees $20,205,500
rate for 12-18 credit hours
credit hour rate for <12 hours or > 18 hours
Projected Enrollment Headcount
undergraduate2,342
graduate134
Revenue$3,682,000
des Fund Balance Budget of $1,500,000

Auxiliary Enterprises $6,187,500 โ€” Includes Residence Hall charge & Meal Plan charge

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Fiscal Year 2014-2015 Revenue Components

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2014-2015 Tuition and Fee Schedule (Per Semester)

Full-Time Classification Fee Schedule
Resident Credit HoursTuition and FeesNon-Resident Credit HoursTuition and FeesDestiny <1> and Legacy Credit HoursTuition and Fees
12 to 18$3,507.0012 to 18$8,412.0012 to 18$7,014.00
19$3,799.2519$9,113.0019$7,598.50
20$4,091.5020$9,814.0020$8,183.00
21$4,383.7521$10,515.0021$8,767.50
Part-Time Classifications (Less than 12 hours) and Graduate Rates
UndergradUndergraduate Resident
Per credit hour$292.25Graduate Resident
Undergraduate Non-ResidentPer credit hour$398.00
Per credit hour$701.00Graduate Non-Resident
Undergraduate Destiny & LegacyPer credit hour$599.00
Per credit hour$584.50
OnlineOnline Undergraduate
Per credit hour$370.00Dual Enroll High School$165 per course
Online Graduate$453.00Service Counties Math$60 per course
English Western Hills HS-$60 per course

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Other Fees
Other Participatory FeesTest Fees
Activity fee$170.00ACT Test Fee National$34.00
Application fee$30.00ACT Test Fee Residual$34.00
Application fee โ€“ International Students$100.00CLEP Test KSU$25.00
Auto Registration-Students (per year)$30.00CLEP Test CLEP$77.00
Auto Registration-Faculty/Staff (per year)$100.00Correspondence Exams$25.00
Damage Fee (non refundable)$125.00GMAT TestI
Deferred Payment fee (per semester)$75.00GRE Test
Diploma Replacement (undergraduate)$13.00LSDASE
Diploma/Cover Replacement (undergraduate)$20.00LSAT TestI
Diploma ReplacCourse and Lab Fees (per course)
Diploma/CoverApplied Information TechnologyMusic
Drop/Add feeCIT 111 112 110 120 136 137 200 220 255 310 355 360$20.00MUS 112, 114, 212, 214$25.00
Graduation fee450 451Music Theory 1-4
Graduation feeAquacultureHalf Hour Private Lesson/Week$50.00
Homecoming feeAQU 412 410 413 428 460 510 512 528 560$30.00One Hour Private Lesson/Week$75.00
Housing AccessArtNursing
ID/Meal ReplacART 130 360$10.00NUR 111 112 211 212$300.00
Late RegistratioART 101 108 110 112 113 211 305 306 310 319 330 405$30.00Physical Science
Nursing Student419 430 431 432PHS 201 202$20.00
Nursing StudentART 220 240 315 317 321 340 415 417 420 433 434 435$50.00Physics
Orientation Fee436 437 438 439 440 441 442 443 444PHY 207 208 211 212 390$20.00
Payment Plan SART 307 312 407 412 451 452 453 454$75.00Social Work
Re-instatementBiologySOW 201$98.00
Return Check FBIO 101 107 108 111 204 210 212 301 302 303 304 305 307$30.00
Room Reservat308 309 315 316 317 318 408 410 411 412 413 417 427 460
Student HousingChemistry
Transcript FeeCHE 110 120 209 310 312 350 303 320 407 409 414$35.00
Thesis FeeComputer Science
COS 100 101 108 109 180 200 230 232 242$15.00
250 300 301 340 350 410 420 481 482 483
484 485 502 504 511 512 513 514 515 517
518 520 533 581 582 583 584 585 586 587
588 589

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Monthly VP Budget Availability Reports

FUNDFUND_DESCORGORG_DESCRIPACCOUNTACCOUNT_DESCPROGRAMPROG_DESCRIPAdjusted_BudgetYTDCommitments
110001Current Unrestricted500001Univ Admin External Relations & Dev7100General Operating Supplies6100Institutional Support18,813.70--
110001Current Unrestricted500001Univ Admin External Relations & Dev7110Travel6100Institutional Support1,738.26224.12-
110001Current Unrestricted500001Univ Admin External Relations & Dev7120Communication6100Institutional Support525.8131.99-
110001Current Unrestricted500001Univ Admin External Relations & Dev7130Services6100Institutional Support31,500.00--
110001Current Unrestricted500001Univ Admin External Relations & Dev7140Interdepartmental6100Institutional Support6,063.96443.07380.1
110001Current Unrestricted500001Univ Admin External Relations & Dev7170Rental Expense6100Institutional Support13,223.50--
110001Current Unrestricted500001Univ Admin External Relations & Dev7180Maintenance Contracts6100Institutional Support7,500.00--
110001Current Unrestricted500001Univ Admin External Relations & Dev7240Computers6100Institutional Support1,988.50--
Univ Admin External Relations & Dev Total81,353.73699.18380.1
110001Current Unrestricted500002Public Relations7100General Operating Supplies6100Institutional Support2,096.62--
110001Current Unrestricted500002Public Relations7110Travel6100Institutional Support4,305.91--
110001Current Unrestricted500002Public Relations7120Communication6100Institutional Support1,392.50--
110001Current Unrestricted500002Public Relations7130Services6100Institutional Support38,522.4027,140.002,400.04
110001Current Unrestricted500002Public Relations7140Interdepartmental6100Institutional Support7,408.95102.21-
- Payroll 15 2014 Earnings by Employee 8-15-1453,726.3827,242.212,400.04
all data from payroll and human resources tables based on primary position number1,998.03--
sorted by TimeSheet Organization then by ID696.33179.65-
4,954.153,218.57-
7,648.513,398.22-
ID_NUMBERFULL-NAMEPrimary PositionPrimary Position DescriptionTimeSheet OrganizationVPTimeSheet Org DescriptionPay-AMTSum of SalaryTerm Datasort-
10012679400118Asst Dir Aux Enterp Fiscal Ops500001Univ Admin External Relations & Dev2,583.7362,009.56sort--
10032559100563Stock Clerk500001Univ Admin External Relations & Dev1,143.3623,215.92iterations--
10035949100520Data Base Coordinator500001Univ Admin External Relations & Dev1,557.7737,386.49iterations13.54-
10036588110228Automotive Operations Mechani500001Univ Admin External Relations & Dev1,438.0831,156.08iterations--
10037374100601Stationary Fireman I500001Univ Admin External Relations & Dev1,140.4824,708.48iterations--
10040808100518Special Project Manager500001Univ Admin External Relations & Dev2,017.1348,411.07iterations--
10041189400146Housekeeping Supervisor500001Univ Admin External Relations & Dev1,852.8135,232.48iterations--
10042016100535Graphics Designer500001Univ Admin External Relations & Dev1,799.0243,176.55iterations--
10046107100586Housekeeping Supervisor500001Univ Admin External Relations & Dev1,626.2435,232.48iterations--
10047045100589Groundkeeper II500001Univ Admin External Relations & Dev736.7622,337.52iterations--
10057274100738Training Coordinator500001Univ Admin External Relations & Dev2,720.0065,280.09iterations--
10058093400116Administrative Assistant I500001Univ Admin External Relations & Dev950.4020,584.32iterations--
10061136100592Grounds Technician500001Univ Admin External Relations & Dev1,626.2435,232.48iterations--
10062494100561Administrative Assistant III500001Univ Admin External Relations & Dev1,165.9437,392.96iterations--
10065295100110Director Insit Res and Effect500001Univ Admin External Relations & Dev2,862.7568,706.00iterations--
10065442100517Capital Project Manager Senior500001Univ Admin External Relations & Dev3,273.3278,559.62iterations--
10070297100560Administrative Assistant II500001Univ Admin External Relations & Dev1,297.0831,129.92iterations--
10073524500004Asst to the Vice President500001Univ Admin External Relations & Dev3,188.0576,513.10ำััƒั‰ั‚ะณัŠั, 1100000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000

Monthly Budget Availability Report From Office of VP Finance - Anita Lockridge

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Kentucky State University Ideas/Areas to Balance the Budget

  • Furlough Days
  • Salary Reduction
  • Delay in Hiring vacant positions
  • Reorganization of work areas
  • Reduction In Force
  • Grant Activity to absorb E&G expenses
  • Utility Conservation Efforts

Growing Leaders: Advancing Knowledge

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Kentucky State University Student Finances

Fall 2014 Enrollment Activity

Total Students Enrolled 1,834 Tuition and Fees Assessed to Students Enrolled $11,139,879 Less: Payments Applied to the Fall 2014 Student Accounts -9,480,386 Current Fall 2014 Student Balances $1,659,493 Less: Financial Aid Pending -2,313,501 Balance Owed/Refund (xx) $ (654,008) Prior to Fall 2014 Semester Prior Balances for Fall 2014 Students $2,913,084 IF: If Students apply their Fall 2014 Refunds (Shown Above) $ (654,008) Then: The New Balance for Fall 2014 Students would be: $2,259,076

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