It stated that some cheerleaders at the retreat performed gymnastics routines that included hurling teammates into the water, known as "basket tosses", while either topless or bottomless within view of some of the coaches.
Coaches also didn't confiscate alcohol brought to the retreat by some team members, the report added, with some members requiring medical treatment for intoxication.
Some cheerleaders at the camp were directed to perform lewd chants and wear outfits that did not include underwear.
The report found no sexual assault or sexual misconduct during the trips.
Kentucky President Eli Capilouto said in a teleconference that the coaches knew or should have known about the inappropriate behaviour.
"They failed to take sufficient steps to address the conduct," he said. "They did not act in ways that would protect the health, safety and wellbeing of our students who were entrusted to their care.
"This is not who we are at the University of Kentucky. This is not what we do," he said.
Kentucky's investigation also uncovered potential conflicts of interest by two coaches who ran gymnastics businesses and employed squad members.
The athletic department will take control of the cheerleading program and be led by associate director Sandy Bell, who will begin a national search for a new coach.
- AP