Kentucky State University
Finance and Business Committee Meeting
April 27, 2012
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 2012 Interim Results. For fiscal 2012, the interim results are presented below:
Budget vs. Actual as of February 2012 is presented for information along with comments about the variances.
Unaudited Financial Statements (Statement of Net Assets, Statement of Revenues, Expenses and Changes in Net Assets and Statement of Cash Flows) in the GASB format are presented for February 2012.
Included in the financial statements section (as an attachment) is a historical view of the change in unrestricted net assets.
2012- 2013 Tuition/Fee Rates. A 5% increase is proposed according to recommendations from the Council on Postsecondary Education.
Fiscal 2013 Financial Plan. The Proposed 2013 Financial Plan includes a 6.4% reduction in state appropriations and a 5% tuition/fee increase. Room and board fees for 2012-2013 were approved by the Board of Regents at the January 27, 2012 meeting.
Health, dental and life insurance rates have been established for plan year 2012-2013. Plan modifications, as recommended by the Employee Benefits Advisory Committee, include increased deductibles, improved coverage/benefits, and co-pays.