Updated financial reporting materials have been prepared and will be posted periodically throughout the year. Our goal in preparing this information is to deliver material that is easy to understand, clearly explains the major components of the budget, and provides updates on how the University is doing. The financial report provides an overview of our Education & General Budget for fiscal year 2012-13. The year-to-date results are compared against the total years’ budget and certain more significant revenues and expenses are graphed as compared to budget and the prior year. Major expenses are organized by type, and due to the significance of personnel costs, additional graphs are provided showing these in greater detail.
Unrestricted Net Assets
The University maintains reserve funds consistent with the Board of Governor’s policy and in order to fund our facility maintenance and expansions and renovations, in addition to supporting investment priorities that are consistent with the University’s strategic plan. The intended uses of those funds as of the last fiscal year-end have been identified and are shown on the following report.
Unrestricted Net Assets as of June 30, 2012