===== PAGE 1 =====
Kentucky State University Addendum to Statement of Net Assets Components of Fund Balances - Disaggregated (Unaudited)
June 302012ActualYTD ActivityMarch 312013
Invested in Capital Assets, net of related debt75,839,623(667,656)75,171,967
Restricted - Nonexpendable:
Endowments8,657,5063,443,45212,100,957
Expendable:
Grants & Contracts(474,305)118,295(356,009)
Endowments1,050,1612,423,6613,473,822
Plant Renewal & Replacement5,232,852(744,245)4,488,608
Capital Renewal Reserves859,656(188,026)671,630
6,668,3641,609,6868,278,051
Unrestricted:
Education & General5,754,1792,948,8908,703,069
Auxiliary2,865,998266,6683,132,666
Land Grant Match17,305,821(23,156)17,282,665
25,925,9983,192,40329,118,400
Total Net Assets117,091,4917,577,884124,669,375
===== PAGE 2 =====
Kentucky State University Statement of Revenues, Expenses and Changes in Net Assets (By Function) Period Ending March 31, 2013 (Unaudited)
FY 2013FY 2012
REVENUES
Operating Revenues
Student tuition and fees (gross)20,913,53322,911,614
Less: Scholarship allowances(4,306,235)(4,198,036)
Student tuition and fees (net of scholarships)16,607,29818,713,578
Federal grants and contracts6,240,2386,069,735
Federal appropriations4,492,6462,727,813
State and local grants and contracts1,003,5251,169,450
Auxiliary enterprises
Residence halls2,757,1833,170,112
Dining2,774,5413,187,043
Bookstore112,500-
Other auxiliaries192,874292,470
Other operating revenues821,186971,636
Total operating revenues35,001,99136,301,837
EXPENSES
Operating expenses
Educational and general
Instruction8,633,08510,531,784
Research4,333,4384,416,868
Public service5,222,4604,418,082
Academic support2,466,0302,820,739
Student services5,323,9315,101,661
Institutional support7,658,1727,981,309
Operation and maintenance of plant4,458,4144,579,236
Student aid8,308,5009,989,150
Depreciation2,780,0373,567,971
Auxiliary enterprises
Residence halls1,550,4032,061,655
Dining2,036,7642,210,571
Bookstore-374,105
Other auxiliaries777,63959,724
Depreciation226,876257,149
Total operating expenses53,775,74958,370,004
Operating income (loss)(18,773,758)(22,068,167)
===== PAGE 3 =====
Kentucky State University Statement of Revenues, Expenses and Changes in Net Assets (By Function) Period Ending March 31, 2013 (Unaudited)
NONOPERATING REVENUES (EXPENSES)
State appropriations18,826,62120,253,656
Federal Grants and Contracts5,777,9477,480,286
Gifts819244,243
Investment income (net of investment expense)957,040644,019
Interest on capital asset-related debt(178,813)-
Other nonoperating revenues (expenses)960,7511,107,979
Net nonoperating revenues26,344,36529,730,182
Income (loss) before other revenues, expenses, gains or losses7,570,6077,662,016
Endowment Gifts7,276106,552
Capital appropriations--
Increase (decrease) in net assets7,577,8817,768,568
Net assets, beginning of year117,091,491115,955,740
Net assets, end of year124,669,374123,724,308
===== PAGE 4 ===== { 21
Kentucky State University Statement of Cash Flows Period Ending March 31, 2013 (Unaudited)
FY 2013FY 2012
Cash flows from operating activities
Tuition and fees12,512,11112,101,640
Grants and contracts14,381,4724,409,164
Payments to suppliers(26,751,652)(24,211,074)
Payments to employees(26,166,005)(22,456,519)
Loans issued to students(196,687)
Collection of loans issued to students83,576
Auxiliary enterprises:
Residence halls and dining5,531,7236,435,078
Bookstore112,500-
Other auxiliaries192,874-
Other receipts773,179(2,016,958)
Net cash from operating activities(19,411,798)(25,851,780)
Cash flows from noncapital financing activities
State appropriations18,826,62120,253,656
Federal Grants and Contracts5,777,9487,480,286
Gifts for other than capital purposes8,095350,795
Student organization agency receipts5,64896,370
Student organization agency disbursements-(70,044)
Other receipts (payments)960,7481,107,979
Net cash from noncapital financing activities25,579,06029,219,042
Cash flows from capital financing activities
Capital appropriations--
Purchases of capital assets(2,053,781)(1,291,970)
Proceeds from capital debt--
Principal paid on capital debt(285,475)(118,797)
Interest paid on capital debt(178,813)252
Net cash flows from capital financing activities(2,518,069)(1,410,515)
Cash flows from investing activities
Interest received on investments199,643140,038
Investment expenses(64,012)(29,531)
Proceeds from sale of investments2,873,512763,580
Purchases of investments(4,232,410)(502,854)
Net cash flows from investing activities(1,223,267)371,233
Net increase (decrease) in cash and cash equivalents2,425,9262,327,980
Cash and cash equivalents at beginning of year23,842,72129,623,196
Cash and cash equivalents at end of year26,268,64731,951,176
===== PAGE 5 =====
Kentucky State University Statement of Cash Flows Period Ending March 31, 2013 (Unaudited)
Reconciliation of net operating loss to net cash from operating activities
Operating loss(18,773,758)(22,068,167)
Adjustments to reconcile operating income to net cash from operating activities:
Depreciation expense3,006,9133,825,120
Loss on disposal of capital assets--
Changes in assets and liabilities:
Receivables, net(665,129)(5,602,840)
Inventory and prepaid expenses(39,326)270,084
Accounts payable and accrued liabilities(2,188,569)(1,780,915)
Accrued compensated absences(1,812)(71,018)
Other Liabilities80,884(82,408)
Deferred revenue(831,001)(341,636)
Net cash from operating activities(19,411,798)(25,851,780)
===== PAGE 6 ===== # Finance and Business Committee April 26, 2013 10:00 a.m. Board Room – Academic Services Building Frankfort, Kentucky Agenda Item Background
To:Board of Regents Finance and Business CommitteeDate: April 26, 2013
From:Ms. Anita Lockridge, Vice President for Finance Administration
Subject:Human Resources Update
Reason for Consideration:InformationalEnclosures: Yes
Background: Human Resource Services has initiated and continued several significant projects for the University as described below: 1. Annual employee "Total Compensation" statements completed and mailed to employee home addresses. 2. Request for Proposal for faculty and staff compensation and classification systems has been issued. 3. Initial planning for annual benefit renewal and open enrolment has been in process with broker, Neace Lukens, and the Employee Benefit Advisory Committee (EBAC). 4. Neace Lukens meet with EBAC and reviewed the health insurance renewal rates. 5. Neace Lukens has also provided guidance regarding the possible impact of the Affordable Health Care Act (ACA) on Kentucky State University. 6. HR policy manual updated to reflect change approved at the January 25 Board meeting regarding pay docking of exempt employees absent for a partial day without available leave. ===== PAGE 7 ===== 7. Pilot program under development for electronic timesheet reporting for student employees. ## Recommendation:
Informational
Initiator:Mr. Gary Meiseles, Director of Human Resources Services
Board Action Date:April 26, 2013
Effective Date:April 26, 2013
===== PAGE 8 =====
Agenda Item Background
To:Board of Regents Finance and Business CommitteeDate: April 26, 2013
From:Ms. Anita Lockridge Vice President for Finance Administration
Subject:FY 2014 Financial Plan
Reason for Consideration:ApprovalEnclosures: Yes
## Background: The Budget for FY 14 is being presented along with the accompanying fee schedules for approval. ## Recommendation: Approval of the FY 2014 Financial Plan
Approval
Initiator:Ms. Anita Lockridge Vice President for Finance Administration
Board Action Date:April 26, 2013
Effective Date:April 26, 2013
===== PAGE 9 =====
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## Budget Proposal Fiscal Year 2013-2014
Image
Presented at the April 26, 2013 Board of Regents Meeting By Anita Lockridge Vice President Finance Administration ===== PAGE 10 ===== To the Board of Regents: We are pleased to share with you the 2013-2014 Kentucky State University Operating Budget. As we continue to face challenges with funding, our university will continue to find ways to reduce expenses without affecting the integrity of our mission. We stand steadfast to provide a quality education to the students that entrust us with their higher education while also improving the lives of Kentuckians and others we serve. We continue to make difficult cuts to our budget this year as well as the upcoming fiscal year. It is a daunting task, but we are doing our part to trim what we can while at the same time refusing to compromise our ability to move Kentucky State University (KSU) forward and our state forward. As we continue to explore alternatives to ensure financial stability and future growth at KSU we are focusing on the following: 1) Reengineering of processes and expense management 2) Increasing grant awards 3) Expanding relationships with public and private organizations. 4) Creating partnerships with local community colleges 5) Reviewing all program of offerings 6) Enhancing the distance learning program 7) Enhancing fund raising Despite budget issues, we are meeting our commitment to the goals and mandates of the Postsecondary Education Improvement Act of 1997 (HB1). We are determined to continue with our mission of affording access to and preparing a diverse student population to compete in a global society and our vision to be a university of distinction. With your continued support, I know we will succeed. ===== PAGE 11 ===== ## INTRODUCTION President Sias and her Leadership Team submit for your consideration a proposed Fiscal Year 2013-14 General Fund operating budget totaling $54.5 million. This is a $7.3 million (11.8%) decrease over last year. The budget recommendation is balanced; the proposed revenue budget equals the proposed expenditure budget. Below are the key budget assumptions for the FY 14 operating budget. ## BUDGET ASSUMPTIONS: ## REVENUES Based on the enacted budget as shown in HB 265, from the 2012 regular session of the Kentucky General Assembly, the University's state appropriation will remain at the FY 13 level of $23,537,400. A tuition increase of 2.95% applied to all levels of residency. The recommended tuition increase is consistent with the FY 2013-14 maximum 3% cap for resident undergraduate students approved by the Council on Postsecondary Education (CPE). - Enrollment headcount is projected for Fall and Spring at 2,636 and 2,908 respectively with total student credit hours at 52,032. Board plans will increase by 3.4%. ## Other Revenue Other sources of revenue have increased over prior year due to new fees being recommended or due to a change in an existing fee (see below for fees). Also, an increase to the Facilities and Administrative rate for grants and new grants awarded has been projected. Fund Balance funding of $2.5 million has not been carried forward for FY14. ## EXPENDITURES ## Fixed Costs The overall benefit rate of 34.1% will increase to 34.69% due to the following: Employer-paid Social Security Taxes — A total of $20,000 is budgeted to cover the projected increased cost of funding FICA taxes on a higher Social Security wage base (salary maximum). Wage base for 2013 is $113,700. Worker's Compensation — This insurance premium is based on worker's compensation classifications, historical claims experience and the insurance market. These three factors, applied to the University's payroll, determine the cost. Due to an increase in worker's compensation claims and market changes over the previous few years, this budget is projected to increase modestly $8,500 for FY 2013-14. Employee Retirement Program — Employees meeting eligibility guidelines must participate in either the Kentucky Employees Retirement System (KERS) plan or the Kentucky Teacher Retirement System (KTRS) plan. The projected increase for the budget year is $130,000. ## Labor Cost The preliminary budget includes a 2% salary adjustment effective mid-year - A review of all positions was completed and only filled positions and essential vacant positions are included in the budget. ## Fee Schedule The following fees are being proposed as either a new fee or a change to an existing fee: ===== PAGE 12 ===== ## NEW FEES: ## Social Work LiveText Subscription $98 per student ## Math • High School Student Dual Credit for Math $60 ## Bursar Office Optional Participation Fee for the Payment Plan System Maintenance of $25 for each payment plan ## CHANGES TO EXISTING FEES: ## School of Nursing Nursing Lab Fee $300 per semester in lieu of the current $200 per semester The High School Student In Service Counties fee of $104 per course to $165 per course The High School Student Outside Service Counties of $83 per credit hour to $165 per course ===== PAGE 13 ===== ## KENTUCKY STATE UNIVERSITY FY 2014 PROPOSED FINANCIAL PLAN
FY 2013 Approved BudgetFY 2014 Proposed Budget
UNRESTRICTED
State Appropriations :
Base Funds - General$18,877,764$19,896,113
Land Grant Match4,389,5153,371,166
State Appropriations Subtotal23,267,27923,267,279
Student Tuition & Mandatory Fees :
Tuition & Mandatory Fees Fall, Spring & Summer25,975,15621,650,044
Student Tuition & Fees Subtotal25,975,15621,650,044
Other Revenue:
Other Sources2,091,9002,400,227
Fund Balance2,500,0000
Other Revenue Subtotal4,591,9002,400,227
Total Unrestricted Revenue53,834,33547,317,550
DESIGNATED
State Appropriations :
CPE Trust Funds595,297595,297
MLK Scholarship8,4928,492
Regional Stewardship - Grant87,32987,329
Regional Stewardship117,003117,003
Total Designated Revenue808,121808,121
TOTAL UNRESTRICTED & DESIGNATED REVENUE54,642,45648,125,671
AUXILIARY ENTERPRISES7,203,8606,409,856
TOTAL REVENUE$ 61,846,316$ 54,535,527
EXPENDITURES :
ACADEMIC AFFAIRS$23,693,828$20,190,404
STUDENT AFFAIRS5,403,7905,378,148
EXTERNAL RELATIONS & DEVELOPMENT12,201,82710,085,160
BUSINESS AFFAIRS3,135,6433,697,833
CENTRAL ACCOUNTS2,117,1640
PRESIDENT'S OFFICE3,959,4113,981,984
SCHOLARSHIPS4,818,5334,792,142
AUXILIARY ENTERPRISES6,516,1206,409,856
TOTAL UNIVERSITY EXPENDITURES$61,846,316$54,535,527
SURPLUS / (DEFICIT)$ -$ -
===== PAGE 14 ===== ## TUITION/MANDATORY FEE SCHEDULE
2012/132013/14
PerPer
SemesterSemester
FULL-TIME
Undergraduate
Resident
12 credit hours$3,048$3,138
13 credit hours$3,175$3,269
14 credit hours$3,302$3,399
15 credit hours$3,429$3,530
16 credit hours$3,556$3,661
17 credit hours$3,683$3,792
18 credit hours$3,810$3,922
19 credit hours$3,937$4,053
20 credit hours$4,064$4,184
21 credit hours$4,191$4,315
Non-resident
12 credit hours$7,320$7,536
13 credit hours$7,625$7,850
14 credit hours$7,930$8,164
15 credit hours$8,235$8,478
16 credit hours$8,540$8,792
17 credit hours$8,845$9,106
18 credit hours$9,150$9,420
19 credit hours$9,455$9,734
20 credit hours$9,760$10,048
21 credit hours$10,065$10,362
Non-resident Destiny & Legacy
12 credit hours$6,096$6,276
13 credit hours$6,350$6,537
14 credit hours$6,604$6,799
15 credit hours$6,858$7,060
16 credit hours$7,112$7,322
17 credit hours$7,366$7,583
18 credit hours$7,620$7,845
19 credit hours$7,874$8,106
20 credit hours$8,128$8,368
21 credit hours$8,382$8,629
===== PAGE 15 ===== ## TUITION/MANDATORY FEE SCHEDULE
2012/13 Per Semester2013/14 Per Semester
Graduate (full or part-time per credit hour)
Resident$387$398
Non-resident$582$599
PART-TIME
Undergraduate (per credit hour)
Resident$254$261
Non-resident$610$628
Non-resident -Destiny & Legacy$508$523
ONLINE TUITION AND FEE SCHEDULE
2012-2013 Per Credit Hour2013-2014 Per Credit Hour
FEES2012-2013 Per Credit Hour2013-2014 Per Credit Hour
Undergraduate
Resident$359$370
Non-resident$359$370
High School Student
In Service Counties$104$0
Outside Service County$83$0
Dual Credit (All Counties)$0$165
Dual Credit (All Counties)- Math$0$60
Graduate
Resident$440$453
Non-resident$440$453
## Note These rates are applicable to those students who are registered as Part-time students. An undergraduate student who is registered for 12 or more hours (graduate 9 or more hours.) online exclusively will be classified as a full-time student and shall be charged based on the normal tuition and fee schedule and residency. ===== PAGE 16 =====
HOUSING AND BOARD FEE SCHEDULE
2012/132013/14
PerPer
DescriptionSemesterSemester
RESIDENCE HALL RENTALS
Double Occupancy
Chandler Hall$1,670$1,670
Kentucky Hall$1,670$1,670
The Halls$1,670$1,670
Combs Hall$1,670$1,670
Hunter Hall$1,670$1,670
Single Occupancy
Chandler Hall$2,220$2,220
Kentucky Hall$2,220$2,220
The Halls$2,220$2,220
McCullin$2,220$2,220
Triple Occupancy
Kentucky Hall$1,620$1,620
Suite/Apartment Occupancy
Chandler Hall$2,120$2,120
Kentucky Hall$2,120$2,120
McCullin Hall$2,120$2,120
Young Hall$2,120$2,120
BOARD RATES
All Resident Students$1,620$1,675
10 meal plan with $300 flex dollars$1,620$1,675
15 meal plan with $200 flex dollars$1,620$1,675
19 meal plan with $125 flex dollars$1,620$0
225 block meal plan with $150 flex dollars$0$1,675
Commuter Meals
5 Meal Membership w/$200 Dining Dollars$652$652
50 Block w/$250 Dining Dollars$594$594
$300 Dining Dollars$300$300
20 Block w/$50 Dining Dollars$180$180
Notes: Students residing in residence halls are required to have a meal plan ===== PAGE 17 ===== ## SCHEDULE OF OPTIONAL PARTICIPATION FEES
Description2012/20132013/2014
Activity Fee170.00170.00
Application fee30.0030.00
Application fee--International Students100.00100.00
Auto Registration--Faculty/Staff (per year)100.00100.00
Auto Registration--Students (per year)30.0030.00
Damage Fee (non-refundable)125.00125.00
Deferred Payment Fee (per semester)75.0075.00
Diploma Replacement (undergraduate)13.0013.00
Diploma/Cover Replacement (undergraduate)20.0020.00
Diploma Replacement (graduate)20.0020.00
Diploma/Cover Replacement (graduate)40.0040.00
Drop/Add Fee30.0030.00
Graduation Fee--Graduate (excl cap/gown) non-refundable125.00125.00
Graduation Fee--Undergraduate (excl cap/gown) non-refundable75.0075.00
Health Insurance Fee (per semester)264.00264.00
Homecoming Fee (fall semester only)50.0050.00
ID Card Replacement Fee (per card)20.0020.00
Student Housing Fire, Theft Property Insurance60.0060.00
Housing Access Control Fee (One Time Housing Fee,) non-refundable50.0050.00
Late Registration (per semester)100.00100.00
Nursing Student Liability Insurance Fee (Fall Semester)16.0016.00
Orientation Fee35.0035.00
Payment Plan System Maintenance Fee-25.00
Re-instatement Fee50.0050.00
Return Check Fee50.0050.00
Room Reservation (per year)75.0075.00
Thesis Fee30.0030.00
Transcript Fee10.0010.00
TEST FEE
ACAT--
ACT Plus Writing--
ACT Test Fee--National34.0034.00
ACT Test Fee--Residual34.0034.00
CLEP Test--KSU25.0025.00
CLEP Test--CLEP77.0077.00
Correspondence Exams25.0025.00
CPP-2 Test--
GMAT Test--
GRE Test--
Law School Reports--
LSDAS--
LSAT Test--
MAT(Miller Analogies Test)77.0077.00
MCAT Test--
NLN/ACE70.0070.00
NCLEX Review350.00350.00
PRAXIS Test--Registration--
PRAXIS Test--Subjects--
SAT1 Test-Reasoning49.0049.00
===== PAGE 18 =====
SAT2 Test--Subject (each)22.0022.00
SAT2 Test--Listening22.0022.00
TOEFL Test125.00125.00
Testing Transcript (per copy)5.005.00
## COURSE & LAB FEES
Per CoursePer Course
2012/20132013/2014
Applied Information Technology2020
CIT 110 120 121 136 137 220 221 222 230 251 255 300
310 350 351 352 355 361 362 420 430 440 450 451 452 4602020
Aquaculture
AQU 411 412 413 427 460 511 512 527 5603030
Art
ART 130 3601010
ART 101 108 110 112 113 211 305 306 310 319 330 405
419 430 431 4323030
ART 220 240 315 317 321 340 415 417 420 433 434 435
436 437 438 439 440 441 442 443 4445050
ART 307 312 322 407 412 451 452 453 4547575
Biology
BIO 101 107 108 111 204 210 212 301 302 303 304 305 307
308 309 315 316 317 318 408 410 411 412 413 417 427 4603030
Chemistry
CHE 110 120 203 220 307 308 310 312 314 3503535
Child Development/Family Relations
CDF 315 407 4083030
Computer Science
COS 100 101 108 109 180 200 230 232 242 250 300 301 340
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 5891515
Music
MUS 112, 114, 212, 2142525
Half Hour Private Lesson/Week5050
One Hour Private Lesson/Week7575
Nursing
NUR 111 112 201 202 211 212200300
$200/ per course
Physical Science
PHS 201 202 2112020
Physics
PHY 111 112 207 208 211 212 320 340 3612020
Social Work 20198
===== PAGE 19 ===== 36