KENTUCKY STATE UNIVERSITY STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION Year ended June 30, 2018

REVENUES
Operating revenues
Student tuition and fees (net of scholarship allowances of $5,069,418)$ 11,525,935
Federal grants and contracts15,982,090
State and local grants and contracts2,689,931
Auxiliary enterprises:
Residence halls2,179,609
Dining1,913,732
Bookstore119,680
Other auxiliaries26,548
Total operating revenues34,437,525
EXPENSES
Operating expenses
Educational and general
Instruction9,621,635
Research8,061,259
Public service9,361,767
Academic support1,421,755
Student services6,331,605
Institutional support11,895,369
Operation and maintenance of plant4,743,469
Student aid5,821,626
Depreciation5,042,714
Auxiliary enterprises
Residence halls1,124,604
Dining2,339,189
Other auxiliaries816,209
Bookstore1,012,965
Depreciation401,833
Total operating expenses67,995,999
Operating loss(33,558,474)
NONOPERATING REVENUES (EXPENSES)
State appropriations26,462,300
Federal grants and contracts4,391,839
Investment income (net of investment expense)1,174,232
Interest on capital asset-related debt(236,690)
Other971,372
Net non-operating revenues32,763,053
Loss before capital appropriations(795,421)
Capital appropriations3,548,918
Change in net position2,753,497
NET POSITION
Net position, beginning of year, as originally stated8,701,364
Cumulative effect of GASB 75 implementation(10,377,339)
Net position, beginning of year, as restated(1,675,975)
Net position, end of year$ 1,077,522

See accompanying notes to financial statements.

17.