July_15_2022_Quarterly_Meeting_Board_Book.pdf — PaddleOCR-VL (Baidu)

Kentucky State University Budget to Actual FY 21-22

Revenues: Kentucky State University has slightly exceeded projected revenues in FY 2022. Key areas in their performance was an increase in Tuition/Fees and Auxiliary revenues.
Expenditures: The University has almost met the expenditure budget, however, with the preliminary status for June 30, 2022 financial reporting and closing books for the Fiscal Year, we anticipate another $1.5 - $2 million in expenses exceeding a balanced budget. Primary line item units noteworthy of exceeded budgets were for Auxiliary Enterprise and Facilities Infrastructure.

		Kentucky State University
	Preliminary FY22 Budget to Actual -E&G

Sources of Revenue	Board Approved Budget FY21/22	Actual 06/30/2022	Percent Encumbered
State Appropriation*	18,975,700.00	19,185,700.00	101%
Tuition and Mandatory Fees***	15,666,000.00	17,564,080.00	112%
Non-Mandatory Fees***	675,000.00	953,973.00	141%
Less Tuition Discount	-	(2,256,711.00)	0%
Less Student Accounts Receivable	-	(1,237,624.00)	0%
Employee Parking	30,000.00	38,770.00	129%
Interest Income	10,586.00	280.00	3%
Indirect Cost Recovery	400,000.00	233,433.00	58%
Auxiliary Enterprise	6,021,000.00	7,313,758.00	121%
Total Sources of Revenue:	41,778,286.00	41,795,659.00	100%

Expenditures by Unit	Board Approved Budget FY21/22	Actual As of 06/30/2022	Variance %
Academic Affairs**	12,324,810.00	13,151,821.00	107%
Auxiliary Enterprise	4,094,663.00	6,174,711.00	151%
Board of Regents	510,824.00	188,881.00	37%
Brand Identity & University Relations	1,166,214.00	1,254,679.00	108%
Campus Athletics	2,126,674.00	2,374,882.00	112%
Facilities and Infrastructure	4,789,436.00	5,813,446.00	121%
Finance and Administration	11,296,520.00	7,293,828.00	65%
Office of General Counsel	586,019.00	696,050.00	119%
The President's Office	826,610.00	768,283.00	93%
Student Engagement/Campus Life	2,178,577.00	2,436,040.00	112%
Student Success	1,877,939.00	1,469,317.00	78%
Total Expenditures Operations:	41,778,286.00	41,621,938.00	99.6%

Profit over Expenses		173,721.00	0.4%
Contingency & Reserve Funds		-

The following is the respective report outlining these details:

* Removed Restricted State Appropriation Revenue funds of 8,881,400 for FY22

** Removed Land Grant expenses From the Academic Affairs Budget

***Tuition/Mandatory Fees(17,564,080), Non-Mandatory Fee (953,973) and Auxiliary Enterprise (7,313,758) Equate to Total Tuition and Fees (25,831,811) within the Sources of Revenue - 06/30/22

****Less Tuition Discount (scholarships) Average tuition discounts and scholarships are between 3.5 million - 4 million annually Other institutional aid allows KSU to reduce it's expenses by 1.5 million - 2 million annually

****Less Student Accounts Receivables - Unpaid student receivables at the end of the fiscal year