KENTUCKY STATE UNIVERSITY
Statements of Revenues, Expenses and Changes in Net Position, continued
Years ended June 30, 2015 and 2014
| 2015 | 2014 |
|---|
| NONOPERATING REVENUES (EXPENSES) | | |
|---|
| State appropriations | $ 23,429,600 | $ 23,537,400 |
|---|
| Federal grants and contracts | 5,024,963 | 5,928,036 |
|---|
| Investment income (net of investment expense) | 280,360 | 1,700,270 |
|---|
| Interest on capital asset-related debt | (263,107) | (317,534) |
|---|
| Other non-operating revenues | - | 71,352 |
|---|
| Endowment gifts | 4,636 | 12,676 |
|---|
| Net non-operating revenues | 28,476,452 | 30,932,200 |
|---|
| Decrease in net position before cumulative effect of change | (5,207,193) | (4,038,729) |
|---|
| Cumulative effect of a change in accounting principle | (93,364,175) | - |
|---|
| Decrease in net position | (98,571,368) | (4,038,729) |
|---|
| NET POSITION | | |
|---|
| Net position, beginning of year | 110,017,536 | 114,056,265 |
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| Net position, end of year | $ 11,446,168 | $ 110,017,536 |
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