KENTUCKY STATE UNIVERSITY STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION Year ended June 30, 2020 (with summarized comparative amounts for the year ended June 30, 2019)

20202019
REVENUES
Operating revenues
Student tuition and fees (net of scholarship allowances of $4,880,611 and $6,392,830)$ 10,290,971$ 9,710,046
Federal grants and contracts21,403,76418,007,131
State and local grants and contracts1,992,7401,607,921
Other operating revenues971,9481,221,466
Auxiliary enterprises:
Residence halls2,675,9322,244,306
Dining2,552,3422,055,561
Bookstore35,136113,190
Other auxiliaries-13,618
Total operating revenues39,922,83334,973,239
EXPENSES
Operating expenses
Educational and general
Instruction9,022,47310,330,633
Research6,929,3557,449,117
Public service8,875,11510,087,334
Academic support278,360625,584
Student services8,646,4147,323,606
Institutional support14,500,92314,838,968
Operation and maintenance of plant4,997,7655,399,949
Student aid6,420,7296,363,963
Depreciation3,386,5913,573,681
Auxiliary enterprises
Residence halls1,212,849406,049
Dining1,944,3082,147,410
Other auxiliaries1,003,413800,293
Bookstore1,007,1621,070,062
Depreciation299,069302,996
Total operating expenses68,524,52670,719,645
Operating loss(28,601,693)(35,746,406)
NONOPERATING REVENUES (EXPENSES)
State appropriations25,766,50025,749,000
Federal grants and contracts4,703,3084,261,886
Investment income (net of investment expense)590,615871,874
Interest on capital asset-related debt(118,215)(276,798)
Net non-operating revenues30,942,20830,605,962
Income before capital appropriations2,340,515(5,140,444)
Capital appropriations-151,277
Change in net position2,340,515(4,989,167)
NET POSITION
Net position, beginning of year(3,911,645)1,077,522
Net position, end of year$ (1,571,130)$ (3,911,645)

See accompanying notes to financial statements.

17.