KENTUCKY STATE UNIVERSITY
June 30, 2013
Capital Asset and Debt Administration
Capital Assets
Capital assets, net of accumulated depreciation, totaled $83.2 million at June 30, 2012, a decrease of $1.2 million. Capital assets as of June 30, 2013 and significant changes in capital assets during the year are as follows (in millions):
| June 30, 2013 | Net Additions (Reductions) FY 12-13 | June 30, 2012 | Net Additions (Reductions) FY 11-12 | June 30, 2011 |
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| Land and land improvements | $ 6.3 | $ 0.6 | $ 5.7 | $ - | $ 5.7 |
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| Buildings, fixed equipment and infrastructure | 154.7 | 1.6 | 153.1 | 7.4 | 145.7 |
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| Equipment, vehicles and capitalized software | 31.4 | 1.5 | 29.9 | 1.6 | 28.3 |
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| Library materials and art | 10.4 | 0.6 | 9.8 | 0.1 | 9.7 |
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| Construction in progress | - | (1.1) | 1.1 | (4.0) | 5.1 |
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| Accumulated depreciation | (119.6) | (4.5) | (115.1) | (4.5) | (110.6) |
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| Total | $ 83.2 | $ (1.3) | $ 84.5 | $ 0.6 | $ 83.9 |
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At June 30, 2013, the University has capital construction projects in progress totaling $4,900 in scope.
Long Term Debt
At June 30, 2013, bonds and lease payable amounted to $8.2 million, as summarized below:
| 2013 | 2012 | 2011 |
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| Lease Obligations | $ 4,139,613 | $ 4,565,078 | $ 4,972,861 |
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| Note payable to City of Frankfort | 300,000 | - | - |
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| General Receipts Bonds | 3,790,000 | 4,165,000 | 4,525,000 |
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| Bond discount and issue costs | (53,629) | (57,460) | (57,460) |
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| Total | $ 8,175,984 | $ 8,672,618 | $ 9,440,401 |
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