Pepperdine University
Consolidated Statements of Financial Position
at July 31, 2004 and 2003
(in thousands)

Assets 2004 2003
Cash and cash equivalents $8,193 $11,378
Student receivables, less allowance for doubtful
accounts of $1,044 and $1,182, respectively
4,350 4,070
Other accounts receivable 2,940 2,558
Student loans, less allowance for loan losses
of $2,132 and $2,887, respectively
29,549 25,182
Contributions receivable, net 18,243 18,324
Prepaid expenses, inventories, and other assets 6,834 6,487
Investments 577,412 570,844
Assets held as trustee or agent 87,113 81,260
Property, facilities and equipment, net 314,565 293,078
  Total assets $1,049,199 $1,013,181
 
Liabilities and Net Assets
Liabilities:
 Accounts payable and accrued liabilities $26,502 $32,332
  Accrued salaries and wages 3,680 4,604
  Student deposits, advance payments, and deferred revenue 6,563 5,559
  U.S. government funded student loans 14,600 14,273
  Trust and agency obligations 61,682 57,173
  Long term obligations 205,788 208,715
    Total liabilities 318,815 322,656
Net Assets:
  Unrestricted 542,226 508,883
  Temporarily restricted 60,597 58,039
  Permanently restricted 127,561 123,603
    Total net assets 730,384 690,525
    Total liabilities and net assets $1,049,199 $1,013,181