The Eastern Kentucky University (EKU) Board of Regents Audit and Compliance Committee met Nov. 3 to review the university’s audit for the fiscal year ending on June 30, 2026. External audit firm Crowe LLP issued an unmodified opinion, meaning the university’s financial statements fairly present its financial position in accordance with applicable accounting standards. Auditors also reported no findings or issues requiring corrective action.
“Fiscal year 2026 proved to be the strongest financial year for EKU since 2011,” said EKU President David McFaddin. “With a clean audit in hand, we’re continuing the diligent work to keep our financial position strong, build our reserves for EKU’s next 150 years, and continue to invest in opportunities for students, our north star.”
The audit showed a $73.5 million increase in the university’s net position, reflecting investments in building maintenance, improvements and major renovations, along with operational revenue growth balanced by prudent management of spending. EKU’s Senior Vice President of Finance Jackie Dudley explained that growth in capital assets is the result of continued investment by the Kentucky General Assembly in authorizing asset preservation funds.
“There are many pressures facing higher education, including economic uncertainty and inflationary pressures. But when you look at EKU’s overall financial performance, we’re outperforming broader trends in higher education and positioning the university for greater financial strength year after year,” said McFaddin.
The university’s financial position is supported by enrollment and fundraising gains in recent years. EKU is currently the largest regional public university in Kentucky for student enrollment for the first time since 1999. Enrollment has grown more than 10% over the past five years. EKU has also celebrated record fundraising years for the past three consecutive years, along with historic Giving Day totals.
As EKU looks to the future, the university remains focused on student success, academic excellence and serving the Commonwealth of Kentucky as the School of Opportunity.
“Academic instruction and student support make up about 70% of our university budget. Direct student support and instruction is what we do,” said McFaddin. “That number has largely not changed in the last 100 years—that is where we put our resources, in the student educational outcomes.”
Among its strategic priorities, EKU aims to continue developing sustainable enrollment strategies, meet the workforce needs of the Commonwealth, launch Kentucky’s first degree program in air traffic management and pursue plans to establish the state’s first public osteopathic medical program.
EKU’s 2025-2026 Annual Report outlines accomplishments from the fiscal year and strategic priorities guiding the university into the future.
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