Page 5 - Kentucky State Univerity - Improvement Plan Update

Overview
Kentucky State University is pleased to provide an update on continuing efforts to improve institutional effectiveness and efficiency. In 2016, the General Assembly of the Commonwealth of Kentucky enacted HB 303, directing the institution to collaborate with the Council on Postsecondary Education to advance measurable goals and metrics demonstrating sustained progress. The approved plan aligned the campus strategic and enrollment management plans with expected outcomes to ensure public accountability. To further illustrate activities, we have added a report card to facilitate transparency.
Kentucky State University is a comprehensive land-grant university committed to impacting individuals, improving the Commonwealth, and influencing society by providing the quality teaching, applied research, and educational services required to thrive in a diverse global environment. With 131 years of service to the Commonwealth, we are poised to employ new strategies to sustain the expectations envisioned in the University’s statutory charter.
The data included illustrates how Kentucky State University is implementing the fundamental principles of excellence, transparency, accountability, and student-centeredness in our daily work and collaborative efforts. These principles are guiding the campus as we pursue our ambitious vision of transforming Kentucky State University into an innovative, outcomes-based institution for the Commonwealth and beyond.
Kentucky State University has reversed the previous declines in student headcount and full-time equivalent (FTE) student enrollment. The historic loss of enrollment due to nonpayment of bill balances is diminishing, but the challenge of assisting low-income and first-generation college students close the financial gap persists. Notwithstanding, Kentucky State University has enjoyed the benefits of several key investments in recruitment, admissions, and student engagement.
The loss in student enrollment resulted in concomitant declines in gross billable tuition and fee revenue combined with reductions in state appropriations. This pattern conjoined with an aging infrastructure and increasing maintenance costs resulted in a spending deficit over a series of years. This report posts a positive net assets ratio resulting from no utilization of the reserve fund balance.
Internal reporting reveals a 12 percent increase in total enrollment over the last academic year, historic gains in retention, currently at 67 percent for first-year students and a stabilized rate of 43 percent for third-year students. Pre-audit data indicates that the university’s primary reserve, net asset return and operating ratios exceed thresholds. Additionally, viability ratios have increased by nearly two percentage points over the last measured period.
Kentucky State University’s promise to our students, the Commonwealth, our nation, and the world is to provide an education that provides opportunity for quality work and productive lives. We have sharpened our focus to concentrate on brand identity, academic excellence and research, student success, strategic enrollment growth, economic development and community outreach, and philanthropic giving and alumni engagement. This report provides evidence of Kentucky State University’s areas of improvement, recent successes, and overall opportunity advancing forward.
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