WKU Electronic Audit 2003

Western Kentucky University Accountants’ Report and Financial Statements June 30, 2003 and 2002Western Kentucky University June 30, 2003 and 2002 Contents Independent Accountants’ Report on Financial Statements and Supplementary Information...............................................................................................1 Management’s Discussion and Analysis.............................................................................3 Financial Statements Statements of Net Assets .................................................................................................................. 15 Statements of Revenues, Expenses and Changes in Net Assets....................................................... 16 Statements of Cash Flows......... 17 Notes to Financial Statements .......................................................................................................... 18 Supplementary Information Schedule of Expenditures of Federal Awards .................................................................................. 39 Independent Accountants’ Report on Compliance and Internal Control Over Financial Reporting Based on the Audit of the Financial Statements in Accordance with Government Auditing Standards ..................................................50 Independent Accountants’ Report on Compliance and Internal Control Over Compliance with Requirements Applicable to Major Federal Awards Programs..... ...