2010-Financial-Statement-KYSU.pdf — PaddleOCR-VL (Baidu)

KENTUCKY STATE UNIVERSITY NOTES TO FINANCIAL STATEMENTS June 30, 2010 and 2009

NOTE 11— SCHEDULE OF EXPENSES BY PROGRAM (Continued)

	2009
	Compensation and Benefits	Supplies and Services	Scholarships and Fellowships	Depreciation	Operations and Maintenance	Total
Instruction	$ 12,630,177	$ 1,712,780	$ 81,519	$ 826,121	$ 1,459,574	$ 16,710,171
Research	3,466,960	1,881,900	41,177	308,699	545,404	6,244,140
Public service	3,321,885	1,172,417	52,184	260,387	484,968	5,291,841
Academic support	2,471,081	457,771	-	167,742	312,417	3,409,011
Student services	3,589,374	1,959,959	278,199	333,756	621,615	6,782,903
Institutional support	6,676,081	2,143,852	-	505,137	892,466	10,217,536
Operation and maintenance of plant	2,181,487	3,078,171	-	301,232	(5,560,890)	-
Auxiliary enterprises	1,083,674	4,204,072	-	302,841	535,053	6,125,640
Student aid	742,506	48,354	6,219,826	401,517	709,393	8,121,596
Total operating expenses	$ 36,163,225	$ 16,659,276	$ 6,672,905	$ 3,407,432	$ -	$ 62,902,838

NOTE 12 – KENTUCKY STATE UNIVERSITY FOUNDATION, INC.

1. ORGANIZATION

Kentucky State University Foundation, Inc. (the “Foundation”) is a not-for-profit Kentucky corporation, which was established to receive, invest and expend funds to promote and implement educational and developmental activities at Kentucky State University (the “University”). The Foundation is managed by a Board of Trustees independent from that of the University. The Foundation is supported primarily through contributions from alumni.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The financial statements of the Foundation have been prepared on the accrual basis of accounting and include the assets, liabilities and results of operations of the Foundation.

(a) Cash and Cash Equivalents:

For purposes of the statement of cash flows, the Foundation considers all highly liquid investments purchased with a maturity of three months or less to be cash equivalents.

(b) Depreciation:

Depreciation is computed by the straight-line method over the estimated useful life of the respective asset. Accumulated depreciation at June 30, 2010 and 2009 was $89,125 and $71,407, respectively.