Rock Valley College Comprehensive Annual Financial Report ...

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The following is a graphic illustration comparing fiscal years 2008, 2007, and 2006 revenues by source: Mmillions Comparison of Revenues by Source Fiscal Years 2008, 2007 and 2006 $30 $25 $20 $15 $10 $5 $‐ 2008 2007 2006 Student tuition and fees (net of scholarship allowances) revenue decreased due to an increase in scholarship allowances and a decrease in Commercial Drivers’ License program tuition. Despite the decrease in Student tuition and fees (net of scholarship allowances), enrollment has remained relatively unchanged. Sales and service remains relatively unchanged due to steady demand. State and Federal grants and contracts have slightly increased from previous years due to an increase in funding for federal adult education programs. Local property taxes have been steadily increasing over the years. In 2008, we are adjusting for an overlevy from levy year 2006 (fiscal year 2007). The tax rate decreased from prior years. Equalized assessed valuations have increased providing a favorable effect on total revenue. 9
The following are graphic illustrations of fiscal years 2008 and 2007 revenue by source. Percent of 2008 Revenue by Source 48.2% 3.1% 2.8 8% 3.1% 7.5% 2.8% 4.6% 14.8% 13.2% Student tuition & fees (net), 7.5% Sales & service fees, 2.8% State grant and contracts, 4.6% Federal grants and contracts, 14.8% State appropriations, 13.2% Local property taxes, 48.2% Personal property replacement tax, 3.1% Investment income, 2.8% Other, 3.1% Percent of 2007 Revenue by Source Student tuition & fees (net), 9.8% 2.8% 2.7 7% 3.2% 9.8% 3.3% 4.5% Sales & service fees, 3.3% State grant and contracts, 4.5% Federal grants and contracts, 13.5% 13.5% State appropriations, 12.8% Local property taxes, 47.4% 47.4% 12.8% Personal property replacement tax, 2.8% Investment income, 2.7% Other, 3.2% 10
Page 1 and 2: Rock Valley College Comprehensive A
Page 3 and 4: CONTENTS INTRODUCTORY SECTION 2007
Page 5: INTRODUCTORY SECTION
Page 8 and 9: Local Economy Changes in the local
Page 10 and 11: ROCK VALLEY COLLEGE ILLINOIS COMMUN
Page 12: FINANCIAL SECTION
Page 18 and 19: Comparative Analysis of Net Assets
Page 20 and 21: Fiscal Years 2007 and 2006 Financia
Page 24 and 25: Fiscal Years 2008 and 2007 Operatin
Page 26 and 27: The following are graphical illustr
Page 28 and 29: Salary expenses increased by $883,6
Page 30 and 31: Fiscal Years 2008 and 2007 Capital
Page 32 and 33: BASIC FINANCIAL STATEMENTS
Page 34 and 35: 2008 2007 LIABILITIES Current liabi
Page 38 and 39: COMPONENT UNIT ROCK VALLEY COLLEGE
Page 60 and 61: UNIFORM FINANCIAL STATEMENTS #1 - #
Page 72 and 73:
ROCK VALLEY COLLEGE ILLINOIS COMMUN
Page 74 and 75:
STATISTICAL SECTION (UNAUDITED)
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ROCK VALLEY COLLEGE COMMUNITY COLLE
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ROCK VALLEY COLLEGE DISTRICT NUMBER
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ROCK VALLEY COLLEGE DISTRICT NUMBER
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SPECIAL REPORTS SECTION
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ICCB COMPLIANCE STATEMENT FOR WORKF
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ROCK VALLEY COLLEGE ILLINOIIS COMMU
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ENROLLMENT DATA AND RESIDENCY REQUI
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Rock Valley College Comprehensive Annual Financial Report ...

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