Rock Valley College Comprehensive Annual Financial Report ...
Rock Valley College Comprehensive Annual Financial Report ...
Rock Valley College Comprehensive Annual Financial Report ...
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ROCK VALLEY COLLEGE<br />
ILLINOIS COMMUNITY COLLEGE DISTRICT NUMBER 511<br />
STATEMENTS OF NET ASSETS<br />
June 30, 2008 and 2007<br />
2008 2007<br />
ASSETS<br />
Current assets:<br />
Cash and cash equivalents $ 11,651,718 $<br />
8,299,274<br />
Current investments 13,802,123 14,604,056<br />
Receivables:<br />
Due from component unit 113,079 13,451<br />
Property taxes, net of allowance for<br />
uncollectible balances of $292,900 for 2008<br />
and $281,700 for 2007 18,832,496 18,331,502<br />
Accounts, net of allowance for uncollectible<br />
balances of $160,700 for 2008 and<br />
$158,900 for 2007 6,232,510 6,034,155<br />
Accrued interest 208,126 417,641<br />
Prepaid items 735,414 467,859<br />
Restricted cash and cash equivalents 347,531 388,680<br />
Restricted investments 16,125,679 6,729,367<br />
Total current assets 68,048,676 55,285,985<br />
Noncurrent assets:<br />
Bond issuance costs, net of accumulated<br />
amortization of $406,207 for 2008 and<br />
$300,341 for 2007 834,165 830,868<br />
Capital assets:<br />
Depreciable assets, net of accumulated depreciation 62,360,825 57,455,756<br />
Nondepreciable assets 1,919,433 8,489,165<br />
Total noncurrent assets 65,114,423 66,775,789<br />
Total assets $ 133,163,099 $ 122,061,774<br />
The accompanying notes are an integral part of this financial statement<br />
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