April2009BoardOfRegentsBookPt2.pdf — PaddleOCR-VL (Baidu)

Kentucky State University Finance and Business Committee Meeting April 24, 2009

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.

2% General Fund Appropriation Reduction - FY2009. Governor Beshear signed General Fund Budget Reduction Order 09-01 which reduces KSU's 2009 state appropriations by $520,300 (from $26,927,100 to $26,406,800).

CPE Tuition & Mandatory Fees Proposed. The tuition and fees recommended for 2010 will be presented at the meeting following discussions forums with faculty, staff and students. The preliminary report included as an informational item will be distributed at the Board meeting. Focus meetings with faculty, staff and students are scheduled for April.

FY 2010 Financial Plan. The proposed FY2010 Financial Plan will be distributed at the Board meeting. Focus discussions will be held prior to the Board meeting to receive input from faculty, staff and students.

Finance Department Updates. A summary of department activity is presented for Business Operations, Budget Policy and Planning, Human Resource Services and Capital Planning and Construction.

Fiscal Year 2009 Interim Results as of February 2009. Reports for Budget vs Actual and Condensed Financial Statements are included:
Budget vs Actual as of February 2009 is presented for information along with comments about the variances.
Unaudited Financial Statements as of February 2009 are included for the statement of net assets, the statement of revenue, expenses and changes in net assets and the statement of cash flows.
Total cash and cash equivalents total $25.0 million at February 2009. The Statement of Cash Flows reflects net cash outflows used for operating activities of $10.1 million; net cash inflows from non-capital financing activities (which include state appropriations) of $25.4 million; net cash outflow for capital financing activities of $2.3 million and net cash outflow for investing activities of $385,799. These activities resulted in a net increase in cash of $12.6 million.