KENTUCKY STATE UNIVERSITY
NOTES TO FINANCIAL STATEMENTS
(Continued)
June 30, 2021
Capital assets as of June 30, 2021, are summarized as follows:
| Beginning Balance | Additions | Reductions/ Transfers | Ending Balance |
|---|
| Cost | | | | |
|---|
| Land and improvements | $ 6,275,032 | $ 258,755 | $ - | $ 6,533,787 |
|---|
| Buildings | 155,846,869 | 16,941,173 | - | 172,788,042 |
|---|
| Equipment | 26,314,630 | 19,659,154 | - | 45,973,784 |
|---|
| Computer software | 1,840,120 | 185,063 | - | 2,025,183 |
|---|
| Library holdings | 10,663,618 | 16,293 | - | 10,679,911 |
|---|
| Transportation equipment | 4,397,496 | 220,972 | - | 4,618,468 |
|---|
| Construction in progress | 31,812,380 | 1,355,330 | (32,797,904) | 369,806 |
|---|
| 237,150,145 | 38,636,740 | (32,797,904) | 242,988,981 |
|---|
| Accumulated depreciation | | | | |
|---|
| Land and improvements | 626,344 | 44,420 | - | 670,764 |
|---|
| Buildings | 105,627,180 | 2,343,379 | - | 107,970,559 |
|---|
| Equipment | 21,132,962 | 1,565,368 | - | 22,698,330 |
|---|
| Computer software | 1,580,171 | 69,421 | - | 1,649,592 |
|---|
| Library holdings | 10,472,943 | 45,154 | - | 10,518,097 |
|---|
| Transportation equipment | 4,251,063 | 101,022 | - | 4,352,085 |
|---|
| 143,690,663 | 4,168,764 | - | 147,859,427 |
|---|
| Capital assets, net | $ 93,459,482 | $ 34,467,976 | $ (32,797,904) | $ 95,129,554 |
|---|
Construction in progress consists primarily of projects to renovate Hunter Hall, install a fountain at the Carl M. Hill Student Center, replace exterior stairs at the Bell Gymnasium, and signage for the pedway. The projects are projected to be completed in fiscal year 2023. The estimated costs to complete the projects is $2.26 million for Hunter Hall renovations, $83,000 for the fountain at the Carl M. Hill Student Center, $132,000 for the replacement of exterior stairs at the Bell Gymnasium, and $121,000 for the signage for the pedway.
Unearned revenue consists of the following as of June 30, 2021:
Unearned summer school tuition and fees $ 104,880
Unearned grants and contracts 873,106
$ 977,986
30.