accounting
pys.20
chap011.docChapter 11 - College and University Accounting - Private Institutions
11-8 (A)
|
Lee College |
||||
|
Statement of Activities |
||||
|
For the year ended December 31, 2015 |
||||
|
REVENUES |
Unrestricted |
Temporarily Restricted |
Permanently Restricted |
Total |
|
Net Tuition and Fees |
$ 10,625,000 |
|
|
$ 10,625,000 |
|
Contributions |
100,000 |
$ 1,500,000 |
$ 2,540,000 |
4,140,000 |
|
Unrestricted Income on Endowments |
40,000 |
|
|
40,000 |
|
Sales and Services of Auxiliary Enterprises |
5,500,000 |
|
|
5,500,000 |
|
Grant Revenue |
|
970,000 |
|
970,000 |
|
Gains on Long-term In vestments |
|
|
750,000 |
750,000 |
|
Net Assets Released from Restriction |
|
|
|
|
|
Satisfaction of plant acquisition restriction |
1,080,000 |
(1,080,000) |
|
- |
|
Satisfaction of program restrictions |
720,000 |
(720,000) |
|
- |
|
Total Revenues |
18,065,000 |
670,000 |
3,290,000 |
22,025,000 |
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
Instruction expenses |
7,000,000 |
|
|
7,000,000 |
|
Research expenses |
4,500,000 |
|
|
4,500,000 |
|
Public Service expense |
1,200,000 |
|
|
1,200,000 |
|
Auxiliary enterprises |
3,725,000 |
|
|
3,725,000 |
|
Student Services |
150,000 |
|
|
150,000 |
|
Institutional support |
1,600,000 |
|
|
1,600,000 |
|
Total Expenses |
18,175,000 |
|
|
18,175,000 |
|
|
|
|
|
|
|
Increase (Decrease) in Net Assets |
(110,000) |
670,000 |
3,290,000 |
3,850,000 |
|
Net Assets January 1 |
1,000,000 |
300,000 |
1,760,000 |
3,060,000 |
|
Net Assets December 31 |
$ 890,000 |
$ 970,000 |
$ 5,050,000 |
$ 6,910,000 |
|
|
|
|
|
|
11-8 (B).
LEE COLLEGE
STATEMENT OF UNRESTRICTED REVENUES, EXPENSES AND
OTHER CHANGES IN UNRESTRICTED NET ASSETS
YEAR ENDED JUNE 30, 2015
|
Unrestricted Revenues: |
|
|
Net Tuition and Fees |
$ 10,625,000 |
|
Contributions |
100,000 |
|
Unrestricted Income on Endowments |
40,000 |
|
Sales and Services of Auxiliary Enterprises |
5,500,000 |
|
Total Revenues |
16,265,000 |
|
|
|
|
Net Assets Released From Restrictions: |
|
|
Satisfaction of Program Restrictions |
720,000 |
|
Satisfaction of Plant Acquisition Restrictions |
1,080,000 |
|
Total Net Assets Released From Restrictions |
1,800,000 |
|
|
|
|
Total Unrestricted Revenues and Other Support |
18,065,000 |
|
|
|
|
Expenses and Losses: |
|
|
Educational and General: |
|
|
Instruction |
7,000,000 |
|
Research |
4,500,000 |
|
Public Service |
1,200,000 |
|
Student Services |
150,000 |
|
Institutional Support |
1,600,000 |
|
Total Educational and General Expenses |
14,450,000 |
|
|
|
|
Auxiliary Enterprises |
3,725,000 |
|
Total Expenses |
18,175,000 |
|
|
|
|
Increase (Decrease) in Unrestricted Net Assets |
($110,000) |
|
|
|
11-8 (B Continued).
LEE COLLEGE
STATEMENT OF CHANGES IN NET ASSETS
YEAR ENDED JUNE 30, 2015
|
Total Unrestricted Revenues |
$ 16,265,000 |
|
Net Assets released from restriction |
1,800,000 |
|
|
|
|
Total Unrestricted Expenses and Losses |
(18,175,000) |
|
Increase (Decrease) in Unrestricted Net Assets |
(110,000) |
|
|
|
|
Temporarily Restricted Net Assets: |
|
|
Contributions |
1,500,000 |
|
Grant Income |
970,000 |
|
Net Assets Released From Restrictions |
(1,800,000) |
|
Increase in Temporarily Restricted Net Assets |
670,000 |
|
|
|
|
Permanently Restricted Net Assets: |
|
|
Contributions |
2,540,000 |
|
Gains on Long Term Investments |
750,000 |
|
|
- |
|
Increase in Temporarily Restricted Net Assets |
3,290,000 |
|
|
|
|
Increase in Net Assets |
3,850,000 |
|
Net Assets, July 1, 2014 |
3,060,000 |
|
Net Assets, July 30, 2015 |
$ 6,910,000 |
|
|
|
200
11-3
