RVCC 2019 NECHE Self-Study

In 2017, salaries and benefits were up $1.7 million, primarily due to increased pension expense. Other
operating expenses decreased by $1.0 million due primarily to nonrecurring 2016 software
implementation costs and less maintenance fees.
STATEMENTS OF CASH FLOWS
The statements of cash flows summarize transactions involving cash and cash equivalents during each
fiscal year. The statements provide an additional tool to assess the financial health of the institution
and its ability to generate future cash flows to meet its obligations.
Years Ended June 30,
2018 2017 2016
Net cash used - operating activities $ (40,750,651) $ (39,829,026) $ (38,342,641)
Net cash provided - noncapital financing activities 48,012,430 45,160,195 43,925,313
Net cash used - capital and related financing activities (2,089,292) (3,734,746) (731,827)
Net cash provided (used) - investing activities (842,682) (872,188) 125,173
Net increase in cash and cash equivalents 4,329,805 724,235 4,976,018
Cash and cash equivalents, beginning of year 9,955,625 9,231,390 4,255,372
Cash and cash equivalents, end of year $ 14,285,430 $ 9,955,625 $ 9,231,390
CCSNH maintains the cash position necessary to meet its obligations. The amount of cash on-hand
fluctuates during the year due to the timing of tuition receipts and federal financial aid payments.
Cash and cash equivalents increased by $4.3 million during 2018 and $724 thousand during 2017
primarily due to an increase in the appropriations from the State of New Hampshire.
Cash and cash equivalents increased by $5.0 million during 2016 due to lower compensation and
benefit expenses netted with a decrease of tuition and fees and grant revenue. In addition, net cash
used by capital and related financing activities decreased as more projects, including the student center
at GBCC and the automotive building at LRCC, were funded through State capital appropriations.
Community College System of New
Hampshire
Community Colleges of New
Hampshire Foundation
2018 2017 2018 2017
Assets
Current assets
Cash and cash equivalents $ 14,285,430 $ 9,955,625 $ 564 $ 28,715
Other current assets 604,723 1,147,151 - -
Current portion of note and contributions receivable 187,418 133,268 50,222 40,113
Grants and contracts receivable 457,052 697,948 - -
Operating investments 8,788,529 8,650,231 - -
Receivable on forgiveness of debt 944,215 - - -
Due from State of New Hampshire for capital
appropriations 359,931 1,996,125 - -
Total current assets 25,627,298 22,580,348 50,786 68,828
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