| Changes in Unrestricted
Net Assets | 2003 | 2002 (as of
May 31) |
| Operating revenues: | | |
Tuition and Fees
Less scholarship allowance
Net tuition and fees | $295,069,308
(76,308,262)
218,760,945 | $269,922,393
(62,780,778)
207,141,615 |
| Investment return utilized | 7,737,524 | 10,172,441 |
| Private gifts, grants and
contracts | 9,225,073 | 8,341,034 |
| Government grants and contracts | 13,719,365 | 11,895,513 |
| Auxiliary enterprises | 26,870,493 | 22,071,320 |
| Other revenues | 9,416,289 | 7,435,296 |
| Net Assets released from
restrictions | 10,061,167 | 8,812,341 |
| Total Operating Revenues | 295,790,856 | 275,869,560 |
| Operating expenses: | | |
| Instruction | 104,057,781 | 102,838,353 |
| Research | 6,580,472 | 5,857,712 |
| Academic support | 45,128,391 | 43,158,532 |
| Student services | 26,230,749 | 26,064,680 |
| Institutional support | 63,617,199 | 59,798,372 |
| Auxiliary enterprises | 40,733,571 | 35,691,548 |
| Total Operating Expenses | 286,348,163 | 273,409,197 |
| Excess of operating revenues over operating
expenses | 9,442,693 | 2,460,363 |
| Nonoperating activities
(unrestricted): | | |
| Investment return | (17,724,484) | (18,922,450) |
| Decrease in Unrestricted Net
Assets | (8,281,791) | (16,462,087) |
| Changes in Temporarily
Restricted Net Assets | | |
| Investment returns | 160,693 | 42,918 |
| Private gifts, grants and
contracts | 2,537,165 | 8,762,644 |
| Governemnt grants and contracts | 60,587 | 10,940 |
| Other revenues | 307,226 | 112,446 |
| Net assets released from restrictions and
reclassifications | (12,179,377) | (9,961,430) |
| Decrease in Temporarily
Restricted Net Assets | (9,113,706) | (1,032,482) |
| Changes in Permanently
Restricted Net Assets | | |
| Private gifts, grants and contracts | 3,125,520 | 1,938,748 |
Reclassifications
Increase in permanently restricted net assets | 2,118,210
5,243,730 | 1,149,089
3,087,837 |
| Decrease in net assets | (12,151,767) | (14,406,732) |
Net Assets at Beginning of
Year
Net Assets at End of Year | 311,820,245
$695,109,053 | 326,226,997
$734,638,825 |