Agenda Item No. __________

Washburn University Board of Regents







SUBJECT: KTWU Audit Report for the Year Ended June 30, 2000





DESCRIPTION:





This is the standard annual audit for KTWU as required by the Corporation for Public Broadcasting (CPB). Also included is a copy of the corresponding annual financial report.





The CPB requires the submission of the annual report along with an independent audit and opinion on the station's financial statements. The financial report is prepared based on the financial information as previously provided to the Board of Regents through the 1999-2000 University Financial Reports. Berberich Trahan & Co., P.A. then audits the financial report and prepares their statement. The 2000 KTWU support and revenues increased approximately $126,000 from 1999, primarily due to the CBP community service grant and updated occupancy values for 2000. The Community Service Grant is a grant KTWU receives every year from CPB and the dollar amounts are dependent on how much money CPB has to award. Expenses increased by approximately $74,000 mainly due to the change in occupancy values for 2000.





The net effect of KTWU operations for the year left KTWU with an increase in fund balances in both the operating fund and the property fund.





FINANCIAL IMPLICATIONS:





KTWU will need to continue to be vigilant in its financial operations especially when exploring ways to develop the capital campaign to fund the equipment purchases necessary to provide a digital signal by the year 2003.





RECOMMENDATION:





President Farley recommends approval by the Board of Regents of the KTWU Audit Report for the year ended June 30, 2000.











_____________ __________________________________



(date) Jerry B. Farley, President






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