4.07¾STATEMENTS
OF ACTIVITIES
Years
ended June 30, 2002 and 2001
|
|
2002 |
2001 |
Changes in unrestricted net assets |
|
|
|
Revenues, gains, and other support: |
|
|
|
Gross tuition and fees |
$ 9,623,412 |
$ 7,874,659 |
|
Less tuition assistance |
(3,080,029) |
(2,831,215) |
|
Tuition and fees net of tuition assistance |
6,543,383 |
5,043,444 |
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|
|
Private gifts, grants and contracts |
1,351,379 |
1,571,021 |
|
Government grants and contracts |
275,476 |
220,093 |
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Sales and services of auxiliary enterprises |
1,887,637 |
1,543,072 |
|
Income from investments |
53,885 |
45,089 |
|
Other sources |
439,695 |
36,171 |
|
Net realized/unrealized gains (losses) on investments |
--- |
(1,824) |
|
Net assets released from restrictions |
2,148,493 |
1,649,760 |
|
Total unrestricted revenues, gains and other support |
12,699,948 |
10,106,826 |
|
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|
|
|
Expenses and losses: |
|
|
|
Instructional |
4,621,463 |
4,370,048 |
|
Academic support |
979,084 |
933,081 |
|
Student services |
2,159,125 |
2,146,259 |
|
Institutional support |
2,562,667 |
2,212,178 |
|
Auxiliary enterprises |
1,977,523 |
1,668,974 |
|
Payments to beneficiaries |
33,500 |
50,125 |
|
Total expenses and losses |
12,333,362 |
11,380,665 |
|
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|
|
Changes in unrestricted net assets |
366,586 |
(1,273,839) |
|
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|
|
Changes in temporarily restricted net assets |
|
|
Private gifts, grants, and contracts
|
743,662 |
904,268 |
Investment income
|
196,499 |
163,524 |
Other sources
|
187 |
5,862 |
Net realized/unrealized gains (losses)
on
investments
|
(448,241) |
(190,096) |
Net assets released from restrictions
|
$ (2,148,493) |
$ (1,649,760) |
Changes in temporarily restricted net assets
|
(1,656,386) |
(766,202) |
Continued
|
|
2002 |
2001 |
Changes in permanently restricted net
assets
|
|
|
|
Private gifts, grants, and contracts |
388,600 |
1,332,995 |
|
Investment income |
13,154 |
84,087 |
|
Net realized/unrealized gains (losses) on investments |
(27,908) |
(581,357) |
|
Changes in permanently restricted net assets |
373,846 |
835,725 |
|
|
|
|
|
Change in net assets |
(915,954) |
(1,204,316) |
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|
|
Net assets at beginning of year |
15,614,452 |
16,818,768 |
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Net assets at end of year |
$14,698,498 |
$15,614,452 |
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