Management's Discussion and Analysis of Kentucky State University's financial statements provide an overview of the financial position and activities for the year ended June 30, 2023, with comparative information for the year ended June 30, 2022. This discussion has been prepared by management and should be read in conjunction with the financial statements and the related notes. The financial statements, notes, and this discussion and analysis are the responsibility of management.
Kentucky State University (the University) is a comprehensive research institution of higher learning dedicated to advancing educational excellence and opportunity across the Commonwealth of Kentucky. The University is one of two 1890 Land Grant institutions located in Kentucky.
Kentucky State University’s mission is to provide transformative educational experiences that prepare graduates to make meaningful contributions to society. It honors and elevates its legacy as a Historically Black College and University (HBCU) by empowering a diverse community of students. Through access, inclusion, and student-centered learning, the University prepares future leaders to thrive in a global society—uniting high-impact teaching, innovative research, and meaningful service across academic programs. Kentucky State University is committed to honoring its legacy of service by actively partnering with communities on civic initiatives aimed at enhancing the quality of life for citizens across the Commonwealth.
The financial statements and notes include Kentucky State University and its component unit, the Kentucky State University Foundation, Inc. The Foundation is a Kentucky not-for-profit corporation established to receive, invest, and disburse funds in support of the University's educational and developmental initiatives. It is managed by a Board of Trustees independent from the University. The Foundation is supported primarily by donor and alumni contributions.
The financial statements and accompanying notes are prepared in accordance with accounting principles generally accepted in the United States of America, as prescribed by the Governmental Accounting Standards Board (GASB).
As of June 30, 2023 (2022), the University's financial position reflected total assets and deferred outflows of $199.2 million ($195.8 million), and total liabilities and deferred inflows of $187.5 million ($192.3 million), resulting in a total net position of $11.7 million ($3.5 million).
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