President's Report 2007 - Benedict College
President's Report 2007 - Benedict College
President's Report 2007 - Benedict College
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
Statement of Financial Position<br />
FINANCIAL STATEMENTS: Years Ended June 30, 2003 - 2006<br />
ASSETS<br />
Cash and cash equivalents<br />
Investments<br />
Accounts receivable, net:<br />
Students<br />
Grants and sponsored programs<br />
Interest and other<br />
Assets limited as to use<br />
Contributions receivable, net<br />
Student loans receivable, net<br />
Notes receivable<br />
Prepaid expenses<br />
Beneficial interest in assets held by others<br />
Property and equipment, net<br />
Deferred financing costs, net<br />
2003<br />
$ 932,942<br />
15,820,453<br />
1,125,784<br />
2,771,226<br />
141,482<br />
28,150,651<br />
894,888<br />
8,468,506<br />
59,767<br />
-<br />
71,661,604<br />
3,006,096<br />
2004<br />
$ 1,452,199<br />
18,607,863<br />
799,440<br />
1,336,326<br />
87,053<br />
23,802,156<br />
896,633<br />
9,122,122<br />
240,601<br />
137,369<br />
74,895,646<br />
2,853,456<br />
2005<br />
$ 368,200<br />
18,281,728<br />
1,567,128<br />
1,149,247<br />
1,143,500<br />
22,315,561<br />
794,081<br />
8,107,820<br />
56,847<br />
217,840<br />
664,718<br />
76,961,546<br />
2,700,817<br />
2006<br />
$ 385,294<br />
18,450,490<br />
1,177,820<br />
1,374,176<br />
1,083,888<br />
8,842,814<br />
696,557<br />
4,498,114<br />
-<br />
628,169<br />
720,234<br />
83,661,477<br />
1,977,503<br />
Total assets<br />
$133,033,399<br />
$134,230,864<br />
$134,329,033<br />
$123,496,536<br />
LIABILITIES AND NET ASSETS<br />
Accounts payable and accrued expenses<br />
Student balances<br />
Accrued compensated absences<br />
Accrued interest payable<br />
Deferred revenue<br />
Line of credit<br />
Notes and bonds payable<br />
Asset retirement obligation<br />
U. S. government loan funds refundable<br />
Funds held for others<br />
$ 3,726,331<br />
1,116,216<br />
998,109<br />
1,824,253<br />
2,056,247<br />
-<br />
82,833,913<br />
-<br />
848,753<br />
109,337<br />
$ 5,595,591<br />
1,126,654<br />
1,125,666<br />
1,781,812<br />
2,611,851<br />
-<br />
84,017,495<br />
-<br />
880,388<br />
124,417<br />
$ 7,131,766<br />
1,398,177<br />
1,195,457<br />
1,797,247<br />
3,544,056<br />
1,806,030<br />
83,117,941<br />
340,683<br />
1,117,394<br />
120,847<br />
$ 4,175,315<br />
1,465,264<br />
1,072,351<br />
1,703,922<br />
3,441,487<br />
4,200,000<br />
77,998,198<br />
340,683<br />
1,146,236<br />
32,918<br />
Total liabilities<br />
93,513,159<br />
97,263,874<br />
101,569,598<br />
95,576,374<br />
Net assets:<br />
Unrestricted<br />
Temporarily restricted<br />
Permanently restricted<br />
26,416,304<br />
6,159,532<br />
6,944,404<br />
25,661,620<br />
4,184,275<br />
7,121,095<br />
23,233,590<br />
2,282,358<br />
7,243,487<br />
19,382,049<br />
2,192,549<br />
6,345,564<br />
Total net assets<br />
39,520,240<br />
36,966,990<br />
32,759,435<br />
27,920,162<br />
Total liabilities and net assets<br />
$133,033,399<br />
$134,230,864<br />
$134,329,033<br />
$123,496,536<br />
34
Change language