Agenda Item No. __________

Washburn University Board of Regents

SUBJECT: KTWU Audit Report for the Year Ended June 30, 2001


Attached is the standard annual financial report for KTWU resulting from the annual audit required by the Corporation for Public Broadcasting (CPB) and the independent auditor's 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 2000-2001 University Financial Report. Berberich Trahan & Co., P.A. then audits the financial report and prepares their statement. The 2001 KTWU support and revenues increased approximately $600,000 from 2000, primarily due to various grants and capital campaign contributions. Expenses increased by approximately $150,000 for 2001.

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.


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 and tower construction necessary to provide a digital signal by the year 2003.


President Farley recommends approval by the Board of Regents of the KTWU Audit Report for the year ended June 30, 2001.

__________________ _____________________________________

(date) Jerry B. Farley, President

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