|
|
|
|
| Operating Revenues | ||
| Tuition and fees (net of discounts of $12,602,985 and
$11,424,331 for 2002 and 2001, respectively) |
$21,238,215
|
$14,986,340
|
| Auxiliary enterprises |
1,631,061
|
6,549,204
|
| Investment return designated for current operations |
9,770,004
|
8,853,996
|
| Government grants |
509,558
|
648,188
|
| Contribution revenue |
22,613,116
|
12,635,593
|
| Other income |
634,887
|
567,780
|
| Total operating revenues and net assets
released from restrictions |
$56,396,841
|
$44,241,101
|
| Operating Expenses | ||
| Instruction |
12,499,468
|
11,677,467
|
| Research |
1,048,104
|
577,182
|
| Academic support |
3,310,950
|
2,918,163
|
| Student services |
3,949,577
|
3,742,378
|
| Institutional administration |
6,698,192
|
6,832,463
|
| Physical plant operations |
5,445,652
|
5,400,362
|
| Student financial aid |
155,514
|
115,105
|
| Auxiliary enterprises expense |
4,374,821
|
3,834,113
|
| Interest expense |
1,833,977
|
1,651,528
|
| Depreciation |
4,925,890
|
4,376,346
|
| Total operating expenses |
$44,442,145
|
$41,125,107
|
| Non-Operating Items | ||
| Investment return in excess of amounts designated
for current operations |
(25,463,585)
|
(15,061,152)
|
| Change in value of split interest agreements |
(323,549)
|
(53,269)
|
| Other non-operating items, net |
(18,538)
|
661,680
|
|
($25,805,672)
|
($14,452,741)
|
|
| Change in Net Assets |
($13,850,976)
|
($11,335,747)
|
| Net assets, beginning of year |
(208,268,830)
|
219.605,577
|
| Net assets, end of year |
$194,417,854
|
$208,268,830
|