Kentucky State University
Finance and Business Committee Meeting
May 11, 2011
Finance and Business (F&B) is pleased to present the following summary report for consideration at the quarterly Finance and Business Committee meeting of the Board of Regents.
Fiscal Year 2011 Interim Results as of March 2011. Reports for Budget vs. Actual and Condensed Financial Statements are included:
Budget vs. Actual as of March 2011 is presented for information along with comments about the variances.
Unaudited Financial Statements as of March 2011 are included for the statement of net assets, the statement of revenue, expenses and changes in net assets and the statement of cash flows.
Fiscal Year 2012 Financial Plan. Tuition setting parameters will be considered by Council on Postsecondary Education (CPE) during its April 28, 2011 meeting. While some increase is being considered, KSU will be sensitive to the student affordability issue with respect to any proposed change in tuition. Other cost factors that will be considered are the following: changes in fixed costs, healthcare increases (currently estimated at 19.4%) and insurance coverage (currently estimated at 4%. It is expected that CPE tuition parameter recommendations will not exceed 2010 parameters.