Fiscal year 2007 was another successful year for the University
characterized by strong financial performance and investment in
campus facilities. In 2007, the University completed a $273.4
million bond offering. Approximately one half of the proceeds from
the offering were used to retire higher interest debt. The balance
of the proceeds will be used to fund current Facilities Master Plan
projects including the construction of a new university center and
academic building and 16 three-story townhouses for additional
student housing on the Queens campus. The University’s investment
portfolio achieved record market gains of $62.9 million or 23.2%.
These activities, combined with an operating surplus of $11.7
million, resulted in total assets exceeding $1 billion for the
first time in St. John’s history.