CONSOLIDATED BALANCE SHEET
UNIVERSITY OF KENTUCKY AND AFFILIATED CORPORATIONS
JUNE 30,1997
with comparative totals at June 30, 1996
(in thousands)



ASSETS
Cash and cash equivalents
Notes, loans and accounts receivable
   (less bad debt allowances of $17,074
   in 1997 and $14,720 in 1996)
 Investments
 Property, plant and equipment
 Inventories and other

    Total Assets


UABILITIES AND FUND BALANCES
Liabilities
Accounts payable
Accrued expense
Employee withholdings and deposits
Other liabilities
Liability for self insurance
Deferred income
Bonds payable
Capital lease obligations

    Total Liabilities

Interfund Balances

Fund Balances
Current-Unrestricted
   Working capital
   Future operations
   Other
 Current-Restricted
 Loan
   Unrestricted
   Restricted
   U.S. Government
 Endowment and Similar Funds
   True
   Term
   Quasi
   Annuity and life income
 Plant
   Unrestricted
   Restricted
   Net investment in plant

   Total Fund Balances

   Total Liabilities and Fund Balances



                            1997                                 1996

                          Endowment
  Current      Loan      and Similar    Plant
  Funds       Funds        Funds       Funds        Total        Total

$ 118,333   $    3,795  $       80   $ 179,439    $ 301,647   $ 287,872


   138,800      19,754         555        2,473      161,582     124,711
   106,979                  194,456      50,676      352,111     315,590
                                      1,350,448  1,350,448  1,262,565
   20,763                                            20,763       15,431

$ 384,875  $  23,549  $ 195,091  $1,583,036  $2,186,551  $2,006,169




$  41,446   $       34               $    7,578   $   49,058  $   32,016
   21,547                                3,319       24,866      23,208
   22,958                                            22,958       18,637
   7,415                                1,798        9,213       4,906
   40,751                                            40,751      33,158
   12,666                                            12,666      11,947
                                        318,478     318,478      332,279
                                        38,548      38,548       34,101

  146,783          34                  369,721      516,538     490,252

    16,976                              (16,976)



  129,395                                           129,395     101,697
  21,856                                            21,856      25,324
     7,916                                             7,916       9,477
   61,949                                            61,949      54,206

                    61                                   61           60
                 5,741                                5,741        5,641
                 17,713                               17,713       17,572

                        $ 120,327                   120,327      94,373
                             7,440                    7,440       5,562
                             62,980                   62,980      57,137
                             4,344                    4,344       4,303

                                        136,971     136,971      158,140
                                        95,056      95,056       74,551
                                        998,264     998,264      907,874

  221,116    23,515    195,091  1,230,291  1,670,013  1,515,917

$ 384,875  $  23,549  $ 195,091  $1,583,036  $2,186,551  $2,006,169



See notes to consolidated financial statements.



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