KENTUCKY STATE UNIVERSITY
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2024
Accounts, grants, and loans receivable consist of the following as of June 30, 2024:
| Student
Tuition and Fees | Student Loan | Grants and Contracts | Total |
|---|
| Total | $ 3,188,321 | $ 733,847 | $ 9,786,003 | $ 13,708,171 |
|---|
| Allowance | (398,095) | (733,847) | - | (1,131,942) |
|---|
| Net Total | $ 2,790,226 | $ - | $ 9,786,003 | $ 12,576,229 |
|---|
Capital assets as of June 30, 2024, are summarized as follows:
| Beginning Balance | Additions | Transfers | Disposals | Ending Balance |
|---|
| Capital Assets Not Being Depreciated or Amortized: | | | | | |
|---|
| Land and Improvements | $ 3,078,370 | $ - | $ 28,250 | $ - | $ 3,106,620 |
|---|
| Construction in Progress | 3,884,269 | 3,301,992 | (258,680) | (1,250) | 6,926,331 |
|---|
| Total Capital Assets Not Being Depreciated or Amortized | 6,962,639 | 3,301,992 | (230,430) | (1,250) | 10,032,951 |
|---|
| Other Capital Assets: | | | | | |
|---|
| Land Improvements | 4,675,599 | - | 202,447 | - | 4,878,046 |
|---|
| Buildings | 224,126,383 | - | - | (17,336) | 224,109,047 |
|---|
| Equipment | 40,196,910 | 1,249,103 | 27,983 | (832,749) | 40,641,247 |
|---|
| Transportation Equipment | 4,804,457 | 654,680 | - | (67,725) | 5,391,412 |
|---|
| Library Holdings | 281,586 | 9,072 | - | (121,881) | 168,777 |
|---|
| Computer Software | 1,625,588 | 12,944 | - | (17,073) | 1,621,459 |
|---|
| Right to Use Lease Assets | 1,075,540 | - | - | - | 1,075,540 |
|---|
| Right to Use SBITA Assets | 3,682,351 | 746,629 | - | - | 4,428,980 |
|---|
| Total Other Capital Assets | 280,468,414 | 2,672,428 | 230,430 | (1,056,764) | 282,314,508 |
|---|
| Less: Accumulated Depreciation and Amortization for: | | | | | |
|---|
| Land Improvements | 3,833,494 | 246,779 | - | - | 4,080,273 |
|---|
| Buildings | 111,963,683 | 3,823,874 | - | (13,151) | 115,774,406 |
|---|
| Equipment | 18,521,463 | 2,646,838 | - | (692,331) | 20,475,970 |
|---|
| Transportation Equipment | 4,173,130 | 115,505 | - | (67,725) | 4,220,910 |
|---|
| Library Holdings | 213,077 | 18,842 | - | (121,881) | 110,038 |
|---|
| Computer Software | 1,583,783 | 12,122 | - | (16,744) | 1,579,161 |
|---|
| Right to Use Lease Assets | 591,673 | 402,837 | - | - | 994,510 |
|---|
| Right to Use SBITA Assets | 907,996 | 1,360,157 | - | - | 2,268,153 |
|---|
| Total Accumulated Depreciation/Amortization | 141,788,299 | 8,626,954 | - | (911,832) | 149,503,421 |
|---|
| Capital Assets, Net | $ 145,642,754 | $ (2,652,534) | $ - | $ (146,182) | $ 142,844,038 |
|---|
At June 30, 2024, the remaining estimated contractual commitments of approximately $15,553,000 million for capital expenditures.
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