| Changes in Unrestricted
Net Assets | 2004 | 2003 (as of
May 31) |
| Operating revenues: | | |
Tuition and Fees
Less scholarship allowance
Net tuition and fees | $319,828,187
(89,576,136)
230,252,051 | $295,069,308
(76,308,262)
218,760,945 |
| Investment return utilized | 10,163,451 | 7,737,524 |
| Private gifts, grants and
contracts | 8,804,590 | 9,225,073 |
| Government grants and contracts | 15,602,706 | 13,719,365 |
| Auxiliary enterprises | 29,750,394 | 26,870,493 |
| Other revenues | 9,176,015 | 9,416,289 |
| Net Assets released from
restrictions | 11,048,238 | 10,061,167 |
| Total Operating Revenues | 314,797,238 | 295,790,856 |
| Operating expenses: | | |
| Instruction | 109,713,104 | 104,057,781 |
| Research | 7,705,592 | 6,580,472 |
| Academic support | 45,121,801 | 45,128,391 |
| Student services | 27,243,156 | 26,230,749 |
| Institutional support | 67,648,439 | 63,617,199 |
| Auxiliary enterprises | 44,087,683 | 40,733,571 |
| Total Operating Expenses | 301,519,775 | 286,348,163 |
| Excess of operating revenues over operating
expenses | 13,277,670 | 9,442,693 |
| Nonoperating activities
(unrestricted): | | |
| Investment return | 29,165,572 | (17,724,484) |
| Decrease in Unrestricted Net
Assets | 42,443,242 | (8,281,791) |
| | | |
| Changes in Temporarily
Restricted Net Assets | | |
| Investment returns | 1,517,761 | 160,693 |
| Private gifts, grants and
contracts | 10,489,263 | 2,537,165 |
| Adjustment to contributions receivable | (1,141,509) | -- |
| Net assets released from
restrictions and reclassifications | (11,048,238) | (12,179,377) |
| Decrease in Temporarily Restricted Net
Assets | (182,723) | (9,113,706) |
| | | |
| Changes in Permanently
Restricted Net Assets | | |
| Private gifts, grants and contracts | 3,284,744 | 3,125,520 |
Reclassifications
Increase in permanently restricted net assets | --
3,284,744 | 2,118,210
5,243,730 |
| Increse (Decrease) in net assets | 45,545,263 | (12,151,767) |
Net Assets at Beginning of
Year
Net Assets at End of Year | 299,668,478
$345,213,741 | 311,820,245
$695,109,053 |