| At July 31, | ||
|---|---|---|
| 2007 | 2006 | |
| ASSETS | ||
| Cash and cash equivalents | $11,391 | $1,226 |
| Student receivables, less allowance for doubtful accounts of $1,089 and $1,068, respectively | 2,967 | 3,954 |
| Other accounts receivable | 4,716 | 4,530 |
| Student loans, less allowance for loan losses of $1,932 and $1,951, respectively | 29,258 | 27,828 |
| Contributions receivable, net | 17,906 | 21,022 |
| Prepaid expenses, inventories and other assets | 6,126 | 6,557 |
| Investments | 917,777 | 715,455 |
| Assets held as trustee or agent | 120,414 | 109,735 |
| Property, facilities and equipment, net | 292,288 | 294,259 |
| Total assets | $1,402,843 | $1,184,566 |
| LIABILITIES AND NET ASSETS | ||
| Liabilities: | ||
| Accounts payable and accrued liabilities | $19,558 | $21,215 |
| Accrued salaries and wages | 2,676 | 3,877 |
| Student deposits, advance payments and deferred revenue | 10,180 | 8,779 |
| U.S. government funded student loans | 13,638 | 14,837 |
| Trust and agency obligations | 75,626 | 70,666 |
| Long term obligations | 209,351 | 209,563 |
| Total liabilities | 331,029 | 328,937 |
| Net assets: | ||
| Unrestricted | 715,391 | 636,266 |
| Temporarily restricted | 71,752 | 68,482 |
| Permanently restricted | 284,671 | 150,881 |
| Total net assets | 1,071,814 | 855,629 |
| Total liabilities and net assets | $1,402,843 | $1,184,566 |
| For the years ended July 31, | |||||
|---|---|---|---|---|---|
| 2007 | 2006 | ||||
| Unrestricted | Temporarily Restricted | Permanently Restricted | Total | Total | |
| REVENUES | |||||
| Student tuition and fees | 214,310 | - | - | 214,310 | 210,894 |
| Less student aid | -56,953 | - | - | -56,953 | -53,997 |
| Net student tuition and fees | 157,357 | - | - | 157,357 | 156,897 |
| Room and board | 25,550 | - | - | 25,550 | 24,362 |
| Private gifts and grants | 10,563 | 2,630 | 20,600 | 33,793 | 27,784 |
| Endowment support | 25,380 | 143 | 500 | 26,023 | 24,994 |
| Government grants | 2,458 | - | - | 2,458 | 2,690 |
| Sales and services | 9,496 | - | - | 9,496 | 8,787 |
| Other revenue | 5,687 | 2,341 | 12 | 8,040 | 7,615 |
| Donor redesignation of restriction | - | -5,367 | 5,367 | - | - |
| Net assets released from restriction | 7,432 | -7,432 | - | - | - |
| Total revenues | 243,923 | -7,685 | 26,479 | 262,717 | 253,129 |
| EXPENSES | |||||
| Instruction and research | 79,897 | - | - | 79,897 | 81,463 |
| Academic support | 29,862 | - | - | 29,862 | 27,220 |
| Student services | 40,960 | - | - | 40,960 | 36,913 |
| Public service | 11,829 | - | - | 11,829 | 10,015 |
| Auxiliary enterprises | 18,344 | - | - | 18,344 | 17,664 |
| Management and general | 52,311 | - | - | 52,311 | 43,696 |
| Membership development | 1,480 | - | - | 1,480 | 3,037 |
| Fundraising | 6,858 | - | - | 6,858 | 6,053 |
| Total expenses | 241,541 | - | - | 241,541 | 226,061 |
| Change in net assets before nonoperating revenues and expenses | 2,382 | -7,685 | 26,479 | 21,176 | 27,068 |
| NONOPERATING REVENUES AND EXPENSES | |||||
| Adjustment of actuarial liability | - | 6,560 | -415 | 6,145 | -332 |
| Investment income (loss): | |||||
| Dividends | 1,671 | - | 6 | 1,677 | 2,633 |
| Interest | 4,833 | 30 | 179 | 5,042 | 3,931 |
| Other | 250 | - | -16 | 234 | 1,304 |
| Net realized and unrealized gains from investments | 84,693 | 685 | 106,572 | 191,950 | 42,456 |
| Appropriations from endowment | -13,935 | -88 | -323 | -14,346 | -16,581 |
| Other | -769 | 3,768 | 1,308 | 4,307 | -5,070 |
| Total nonoperating revenues and expenses | 76,743 | 10,955 | 107,311 | 195,009 | 28,341 |
| Change in net assets before cumulative effect of change in accounting principle | 79,125 | 3,270 | 133,790 | 216,185 | 55,409 |
| Cumulative effect of change in accounting principle | - | - | - | - | -3,958 |
| Change in net assets | 79,125 | 3,270 | 133,790 | 216,185 | 51,451 |
| Net assets at beginning of year | 636,266 | 68,482 | 150,881 | 855,629 | 804,178 |
| Net assets at end of year | $715,391 | $71,752 | $284,671 | $1,071,814 | $855,629 |