Financial Reports
Summary of FY 2010-11 Results
For Fiscal Year (FY) 2010-11, as reported in the College’s audited financial statements, Unrestricted College Revenues net of financial aid were $128,881,368 compared to $128,693,851 in FY 2009-10, or an increase of 0.15%. Unrestricted Expenses were $132,749,364 in FY 2010-11, compared to $127,001,212 in FY 2009-10, or an increase of 4.53%.
Expenses classified as Instruction, Academic Support and Student Services collectively totaled $90,347,530, representing approximately 68.1% of total, unrestricted operating expenses. Expenses spent on Institutional Support were $18,844,633, or roughly 14.2%.
The College had an investment return (net; after expenses) on its total managed endowment of 16.0%. Year-over-year changes in the Endowment’s actual market value include the investment return, less the draw from the Endowment in support of the College’s operations, plus or minus any additions or deductions. The College’s Total Endowment and Similar Funds was approximately $700.2 million at the end of the fiscal year. Total net assets were $751.0 million as of June 30, 2011, compared to $669.2 million as of June 30, 2010. Additional information regarding the College’s assets, investments and endowment is included in the footnotes of the College’s audited financial statements.
The College also releases additional financial and operating data, related to its bonded debt, through Digital Assurance Certification (or DAC), which is available for public review. Registration to access information on the DAC site is free.
Notes:
(1) Amounts shown are calculated on a GAAP basis. Numbers are rounded. Dollars are in millions. (2) Tuition as shown is net of financial aid expenses. Gross tuition and fees were $94.2 million and financial aid was $34.1 million for net tuition of $60.1 million, as shown above. (3) Auxiliary services include residences/property rentals, dining operations, bookstore, and other services offered.