Glossary of Terms

Annual Financial Report (AFR)-  The Annual Financial Report contains the consolidated financial statements for the University of Kansas.  Included in the Annual Financial Report is the Management’s Discussion and Analysis section, Financial Statements, and the Notes to the Financial Statements.  The financial statements and notes are not audited.

Debt Service Coverage Ratio (Bond Coverage Ratio) - For the period of time for which calculated, the ratio determined by dividing (a) a numerator equal to the Gross Revenues or Net Revenues (determined by bond documents) by (b) a denominator equal to the Debt Service Requirements.

Debt Service Requirements - The aggregate principal payments (whether at maturity, or upon mandatory sinking fund redemption, mandatory prepayment or otherwise) and interest payments required to be made during a specific period of time.

Facilities and Administrative (F & A) Rate Proposal – In order to recover facilities and administrative costs also known as indirect costs, the Comptroller’s Office Financial Reporting Services unit is responsible for creating a cost proposal, which is negotiated with the Department of Health & Human Services, Division of Cost Allocation, Dallas Region (DHHS). This negotiation applies to all Federally-sponsored projects as well as other sponsors. Projects funded by industry have a special rate based upon KU’s negotiated rate.  This cost proposal is created on a periodic basis depending upon specific negotiations with DHHS.

IPEDS - Integrated Post Secondary Education Data System (IPEDS) is a data collection program for the National Center For Education Statistics.  Various types of statistical and financial data is collected every year  Financial Reporting Services completes the Finance portion of the IPEDS survey.   If you need information from the IPEDS Finance survey please contact Ron Huettenmueller (Financial Reporting Services) at (785) 864-3211 or by e-mail at

UBIT - Unrelated Business Income Tax – Unrelated business income (UBI) is defined as gross income derived by an exempt organization from any unrelated trade or business that is regularly carried on.  Financial Reporting Services completes the UBIT return for the University. The UBIT return is due to the Kansas Board of Regents by October 15th each year.  If you have questions about whether your activities are subject to UBIT please contact Sarah Carver (Financial Reporting Services) at (785) 864-5920 or by e-mail at​.

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