The Kentucky Medical Services Foundation, Inc. (KMSF) was founded in 1978 with two primary missions that have guided its activities and focus for more than 35 years: To bolster efforts to recruit and retain the best clinicians to ensure the provision of high-quality health care for the region and the Commonwealth; To serve as a charitable organization to support the education, research, service and patient care missions of the University of Kentucky and UK HealthCare®.


Finance & Accounting

Accounting and Financial Reporting:

  • Prepares annual and monthly financial statements and operating reports to UK College of Medicine and Non-College of Medicine departments (e.g. Income Statement, Statement of Cash Flows, Trend Reporting and Variance Analysis)
  • Develops, implements, and maintains accounting policies and procedures
  • Maintains and reconciles cash and investment funds, manages daily/weekly cash flows and forecasts
  • Prepares Financial Pro-forma for new practices and evaluates actual performance
  • Maintains the chart of accounts and organizational hierarchy
  • Performs monthly general ledger account reconciliations
  • Prepares annual budget for KMSF and assists in the preparation of the College of Medicine departmental budgets
  • Coordinates external audits of financial statements and provide support to UK internal audits
  • Prepares Medicaid and Medicare Cost Reports

Cash Handling & Internal Control:

  • Provides Cash Handling training to the staff at the UK clinics
  • Develops and implements Cash handling policies and procedures of the clinics
  • Conducts risk assessment of assigned department or functional area and submit recommendations to the management
  • Performs unannounced audit in coordination with UK Internal Audit department

Real Property and Fixed Asset Management:

  • Manages Operating and Capital Leases of building and equipment
  • Maintains rent roll, subleases schedules and lease contracts
  • Maintains and operates equipment and furniture inventory system

Accounts Payable:

  • Process Request for Payment documents for Corporate and College of Medicine departments
  • Develops and maintains Guidelines and Frequently Asked Questions for Corporate payment policies and procedures
  • Offers training for all business expense reimbursements and vendor payments
  • Provides resources for official business travel
  • Tax reporting and notification resolution
  • Data reporting for all aspects of accounts payable

View KMSF's latest public tax return

View KMSF's Latest Financial Statement