KENTUCKY STATE UNIVERSITY
Management’s Discussion and Analysis, continued
June 30, 2015
Condensed Statement of Revenues, Expenses and Changes in Net Position
| 2015 | 2014 |
|---|
| OPERATING REVENUES | | |
|---|
| Student tuition and fees, net | $ 11,517,008 | $ 16,472,026 |
|---|
| Grants and contracts | 10,101,995 | 8,224,822 |
|---|
| Federal appropriations | 6,665,512 | 6,722,332 |
|---|
| Auxiliary enterprises | 4,826,037 | 6,195,424 |
|---|
| Other operating revenue | 1,741,780 | 1,096,045 |
|---|
| Total operating revenues | 34,852,332 | 38,710,649 |
|---|
| OPERATING EXPENSES | | |
|---|
| Educational and general | 63,553,521 | 67,691,056 |
|---|
| Auxiliary enterprises | 4,982,456 | 5,990,522 |
|---|
| Total operating expenses | 68,535,977 | 73,681,578 |
|---|
| OPERATING LOSS | (33,683,645) | (34,970,929) |
|---|
| NONOPERATING REVENUES | | |
|---|
| (EXPENSES) | | |
|---|
| State appropriations | 23,429,600 | 23,537,400 |
|---|
| Federal grants and contracts | 5,024,963 | 5,928,036 |
|---|
| Investment income (loss) | 280,360 | 1,700,270 |
|---|
| Interest on capital asset – related debt | (263,107) | (317,534) |
|---|
| Other | - | 71,352 |
|---|
| Endowment gifts | 4,636 | 12,676 |
|---|
| Total non-operating revenues | 28,476,452 | 30,932,200 |
|---|
| Decrease in net position before cumulative effect of change in accounting principle | (5,207,193) | (4,038,729) |
|---|
| Cumulative effect of a change in accounting principle | (93,364,175) | - |
|---|
| Decrease in net position | (98,571,368) | - |
|---|
| Net position, beginning of year | 110,017,536 | 114,056,265 |
|---|
| Net position, end of year | $ 11,446,168 | $ 110,017,536 |
|---|