KENTUCKY STATE UNIVERSITY STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION Year ended June 30, 2017

REVENUES
Operating revenues
Student tuition and fees (net of scholarship allowances of $4,996,868)$ 10,497,944
Federal grants and contracts16,408,586
State and local grants and contracts2,783,697
Auxiliary enterprises:
Residence halls1,929,890
Dining1,737,107
Bookstore76,433
Other auxiliaries31,070
Other operating revenues964,396
Total operating revenues34,429,123
EXPENSES
Operating expenses
Educational and general
Instruction10,923,242
Research8,948,241
Public service9,088,303
Academic support2,858,980
Student services6,126,179
Institutional support11,965,726
Operation and maintenance of plant4,632,516
Student aid6,595,708
Depreciation3,743,467
Auxiliary enterprises
Residence halls1,243,573
Dining1,933,410
Other auxiliaries1,238,742
Bookstore991,545
Depreciation304,730
Total operating expenses70,594,362
Operating loss(36,165,239)
NONOPERATING REVENUES (EXPENSES)
State appropriations26,729,600
Federal grants and contracts3,776,772
Investment income (net of investment expense)1,407,599
Interest on capital asset-related debt(226,835)
Other(88,964)
Net non-operating revenues31,598,172
Loss before capital appropriations(4,567,067)
Capital appropriations4,906,223
Change in net position339,156
NET POSITION
Net position, beginning of year8,362,208
Net position, end of year$ 8,701,364

See accompanying notes to financial statements.

17.