BREWTON-PARKER COLLEGE

FACT BOOK 2002-2003

 

4.06STATEMENTS OF FINANCIAL POSITION

June 30, 2002 and 2001

 

ASSETS

2002

2001

Cash and cash equivalents

$ 1,260,256

$ 1,180,393

Accounts receivable, net of allowance of $1,650,000

in 2002 and $2,000,000 in 2001, respectively

 

1,344,956

 

1,148,577

Contributions receivable

644,907

1,967,926

Other receivables

412,043

315,324

Other assets

123,807

136,479

Student loans receivable

301,973

294,013

Investments

4,852,143

4,232,734

Funds held in trust by the Georgia Baptist

Foundation

 

6,518,401

 

6,953,132

Property and equipment

13,461,119

9,997,053

 

 

 

 

$28,919,605

$26,225,631

 

 

 

LIABILITIES AND NET ASSETS

 

 

Liabilities

 

 

Accounts payable

$ 593,334

$ 507,601

Accrued liabilities

620,795

546,209

Deferred revenue and student deposits

549,507

541,223

Capital lease

357,263

268,473

Notes and bonds payable financial institutions

7,967,983

6,404,326

Notes payable to Georgia Baptist Foundation

3,731,608

1,811,798

Annuities payable

215,497

385,946

Refundable advances from Federal government

Perkins loans

 

185,120

144,603

 

 

 

 

$14,221,107

$10,610,179

 

 

 

Net Assets

 

 

Unrestricted

$ 1,349,468

$ 982,882

Temporarily restricted

1,540,896

3,197,282

Permanently restricted

11,808,134

11,434,288

 

 

 

 

$14,698,498

$15,614,452

 

 

 

Commitments and contingencies

 

 

 

$28,919,605

$26,224,631