11 - Union County College

UNION COUNTY COLLEGE
Statements of Revenues, Expenses and Changes in Net Assets
For the Fiscal Years Ended June 30, 2009 and 2008
2009 2008
REVENUES
Operating Revenues:
Student Tuition and Fees $35,299,865 $32,324,038
Less Scholarship Allowances (12,800,803) (9,461,451)
Net Student Tuition and Fees 22,499,062 22,862,587
Federal Grants 15,532,263 12,249,828
State Grants 5,547,217 5,207,701
Local Grants 345,560 218,842
Other 2,377,871 2,767,861
Total Operating Revenue 46,301,973 43,306,819
EXPENSES
Operating Expenses:
Instructional 33,088,510 30,554,006
Public Service 1,485,866 1,558,441
Academic Support 3,963,529 3,949,622
Student Services 5,350,213 5,232,506
Institutional Support 12,689,446 11,987,828
Operations and
Maintenance of Plant 6,353,700 6,850,272
Student Aid 4,433,149 4,910,633
Depreciation 2,848,430 2,950,293
Total Operating Expenses 70,212,843 67,993,601
Operating Loss (23,910,870) (24,686,782)
NON-OPERATING REVENUES (EXPENSES):
State Appropriations 11,015,015 12,087,835
County Appropriations 12,522,650 12,217,220
Gifts from UCC Foundation 429,839 449,452
Gifts from Other Entities 113,821 101,938
Investment Income 632,456 919,934
Interest on Capital Asset Related Debt (9,818) (67,406)
Net Non-Operating Revenues 24,703,963 25,708,973
Income before Capital Grants 793,093 1,022,191
Capital Grants 810,281 332,546
Increase in Net Assets 1,603,374 1,354,737
Net Assets - Beginning of Year 47,092,759 45,738,022
Net Assets - End of Year $48,696,133 $47,092,759
Refer to the 2009 Report of Audit for the complete Financial Statements and Notes thereto.