Financial Report

Consolidated Financial Statements

June 1, 2011 – May 31, 2012
(in 000s)

Statement of Activity

Balance Sheet

REVENUE ASSETS
Tuition and fees $362,409 Cash and cash equivalents $125,614
Scholarship allowance -- tuition and fees $(125,742) Accounts receivable $34,789
      Net Tuition $236,667 Pledges receivable $87,092
Gifts $89,326 Investments $1,229,386
Endowment income, net of investment expenses $14,747 Property, plant and equipment $710,894
Net realized and unrealized gain on investments $15,782 Other assets $9,906
Grants and contracts $28,242 Total Assets $2,197,681
Organized activities $8,728    
Other sources $30,453 LIABILITIES
Auxiliary activities $47,117 Accounts payable and accrued expenses $169,098
Scholarship allowance — room and board $(2,829) Deposits and deferred income $25,680
Independent operations $3,549 Notes payable $777
     Total Revenue $471,782 Bonds payable $466,960
    Advances for student loans $2,826
EXPENSES Total Liabilities $665,341
Program expenses:      
     Instructional $154,440 NET ASSETS $1,532,340
     Academic support $52,971 Total Liabilities and Net Assets $2,197,681
     Research $22,053    
     Organized activities $10,374    
     Student services $41,664    
     Auxiliary activities $59,734    
     Total Program Expenses $341,236    
Institutional support $89,653    
Independent operations $3,113    
     Total Expenses $434,002    
Other changes $(6,844)    
Change in Net Assets During the Year $30,936