by Patrick Flattery, Vice President of Finance - The College of St ...
by Patrick Flattery, Vice President of Finance - The College of St ...
by Patrick Flattery, Vice President of Finance - The College of St ...
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8<br />
<strong>St</strong>atement <strong>of</strong> Activities<br />
2005/2006<br />
Year ending June 30, 2006<br />
REVENUES 2006 2005<br />
Tuition and Fees $54,756,734 $48,202,609<br />
Less: Unfunded <strong>St</strong>udent Aid (18,918,421) (15,457,069)<br />
Funded <strong>St</strong>udent Aid (1,311,043) (1,203,721)<br />
Net Tuition and Fees $34,527,270 $31,541,819<br />
Government Grants $ 3,506,208 $ 3,776,596<br />
Private Gifts 1,931,070 3,242,788<br />
Endowment Income 2,283,498 1,257,748<br />
Contributed Services, net <strong>of</strong> expenses 157,714 111,151<br />
Other Sources 1,361,041 1,091,178<br />
Investment Income 367,300 158,516<br />
Auxiliary Enterprises 6,156,198 4,988,769<br />
Change in value <strong>of</strong> split interest agreements 27,477 (10,852)<br />
Total Revenue $50,317,776 $46,157,713<br />
EXPENSES<br />
Instruction $18,871,208 $18,509,483<br />
Public Service 1,980,387 1,921,658<br />
Academic Support 4,809,300 4,266,759<br />
<strong>St</strong>udent Services 8,920,056 8,584,797<br />
Auxiliary Enterprises 5,092,595 4,431,181<br />
Institutional Support 6,918,345 6,132,527<br />
Other (2,775) 6,221<br />
Total Expenses $46,589,116 $43,852,626<br />
Change in Net Assets $ 3,728,660 $ 2,305,087<br />
Net Assets at Beginning <strong>of</strong> Year* $49,538,656 $48,245,388<br />
Net Assets at End <strong>of</strong> Year $53,267,316 $50,550,475<br />
*Total beginning net assets for 2006 adjusted due to cumulative effect <strong>of</strong> change in accounting principle.
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