Capital Asset and Debt Administration
June 30, 2015
Capital Assets
Capital assets, net of accumulated depreciation, totaled $77.1 million at June 30, 2015, a decrease of $3.5 million. Capital assets as of June 30, 2015 and significant changes in capital assets during the year are as follows (in millions):
| June 30, 2015 | Net Additions (Reductions) FY 14-15 | June 30, 2014 | Net Additions (Reductions) FY 13-14 | June 30, 2013 | |
| Land and land improvements | $ 6.3 | $ - | $ 6.3 | $ - | $ 6.3 |
| Buildings, fixed equipment and infrastructure | 154.7 | - | 154.7 | - | 154.7 |
| Equipment, vehicles and capitalized software | 27.1 | (5.2) | 32.3 | 0.9 | 31.4 |
| Library materials and art | 10.4 | - | 10.4 | - | 10.4 |
| Construction in progress | 1.1 | 0.1 | 1.0 | 1.0 | - |
| Accumulated depreciation | (122.5) | 1.5 | (124.0) | (4.4) | (119.6) |
| Total | $ 77.1 | $ (3.6) | $ 80.7 | $ (2.5) | $ 83.2 |
At June 30, 2015, the University has capital construction projects in progress totaling $1.1 million in scope.
At June 30, 2015, bonds and lease payable amounted to $6.6 million, as summarized below:
| 2015 | 2014 | 2013 | |
| Lease obligations | $ 3,300,007 | $ 3,796,904 | $ 4,139,613 |
| Note payable to City of Frankfort | 200,000 | 250,000 | 300,000 |
| General receipts bonds | 3,195,000 | 3,405,000 | 3,790,000 |
| Bond discount and issue costs | (49,798) | (49,798) | (53,629) |
| Total | $ 6,645,209 | $ 7,402,106 | $ 8,175,984 |