Balance Sheet
| CURRENT ASSETS | 2003 | 2002 | 2001 |
| Cash and Cash Equivalents | $19,882,002 | $15,275,785 | $15,160,397 |
| Investments | 87,882,102 | 85,586,442 | 95,775,525 |
| Accounts Receivable and Accruals | 3,636,623 | 2,717,956 | 2,847,395 |
| Pledges Receivable | 21,036,826 | 29,586,039 | 2,740,678 |
| Notes Receivable | 13,290,333 | 13,120,852 | 13,043,652 |
| Inventories | 313,771 | 362,070 | 359,103 |
| Prepaid Expenses | 1,837,024 | 909,541 | 653,103 |
| Property and Equipment | 95,588,390 | 91,726,414 | 87,737,979 |
| Total Assets | $243,467,071 | $91,726,414 | 87,737,979 |
| LIABILITIES | |||
| Accounts Payable and Accruals | 13,642,387 | 11,343,005 | 9,715,874 |
| Other Liabilities | 19,340,682 | 18,379,074 | 17,531,440 |
| Long-Term Debt | 44,397,665 | 43,014,650 | 39,983,354 |
| Total Liabilities | $77,380,734 | $72,736,729 | $67,230,668 |
| NET ASSETS | |||
| Operating and Designated | 10,580,838 | 9,772,732 | 3,603,668 |
| Post-Retirement Benefits | (10,557,452) | (9,590,590) | (8,736,430) |
| Student Loan Programs | 207,616 | 171,463 | 650,416 |
| Quasi Endowment, at cost | 3,995,117 | 3,995,107 | 3,995,107 |
| Accumulated Endowment Gains | 28,890,939 | 33,333,530 | 49,437,155 |
| Net Investment at Plant | 53,485,946 | 50,540,219 | 52,592,091 |
| Total Unrestricted | $86,603,004 | $88,222,461 | $101,542,007 |
| Total Temporarily Restricted | $8,772,220 | $10,357,019 | $7,406,454 |
| Permenantly Restricted | |||
| True Endowment | 67,349,928 | 64,703,180 | 38,856,641 |
| Permenant Loan Programs | 2,201,144 | 2,125,427 | 2,095,562 |
| Annuity and Life Income Funds | 1,160,041 | 1,140,283 | 1,187,219 |
| Total Permenantly Restricted | $70,711,113 | $67,968,890 | $42,139,422 |
| Total Net Assets | $166,086,337 | $166,548,370 | $151,087,883 |
| Total Liabilities and Net Assets | $243,467,071 | $239,285,099 | $218,318,551 |
| More detailed information is available upon written request from James V. Manaro, Vice President for Business and Financial Affairs | |||
Final Operating Budget
| Revenues by Source 2002-2003* | Expenditures by Category 2002-2003* | ||||
| Sources of Operating Revenue ($1,000s) | Operating Expenditures ($1,000s) | ||||
| Net Tuition and Fees | $35,849 | 59.31% | Instruction | $20,355 | 33.68% |
| Housing and Dining | 15,032 | 24.87% | Academic Support | 6,201 | 10.26% |
| Government Funds | 2,281 | 3.77% | Student Services | 7,536 | 12.47% |
| Private Gifts and Grants | 2,116 | 3.50% | General Institutional Support | 5,980 | 9.89% |
| Endowment and Other Investment Income | 3,751 | 6.21% | Operation and Maintenance | 5,980 | 9.89% |
| Miscellaneous | 1,414 | 2.34% | Housing and Dining | 6,952 | 11.50% |
| Debt Service/Interest on Indebtedness | 1,569 | 2.60% | |||
| Capital Funding, Reserves and Other | 5,574 | 9.22% | |||
| TOTAL | $60,443 | 100.00% | TOTAL | $60,443 | 100.00% |
| *Year ended June 2003 | |||||