|
|
|
|
|
|
|
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|
June 30 |
|
|
ASSETS |
1996 |
|
1995 |
|
|
Cash, including short-term investments of $6,720 and $6,563 |
$ 8,622 |
|
$ 8,807 |
|
|
Student accounts, net of allowance of $349 and $327 |
2,994 |
|
2,912 |
|
|
Government grants and other receivables |
1,074 |
|
750 |
|
|
Current portion of long-term loans, notes and contracts |
931 |
|
940 |
|
|
Inventories and prepaid expenses |
1,028 |
|
958 |
|
|
Total current assets |
14,649 |
|
14,367 |
|
|
|
|
Student loans, net of allowance of $203, less current |
|
|
portion of $810 and $831 |
4,861 |
|
4,771 |
|
|
Notes and contracts, net of allowance of $56, less |
|
current portion of $121 and $109 |
2,854 |
|
3,180 |
|
|
Pooled investments, at market |
22,629 |
|
17,164 |
|
|
Marketable securities, at market |
1,479 |
|
1,582 |
|
|
Real estate held for investment or sale |
4,620 |
|
6,968 |
|
|
Land, buildings, and equipment, less accumulated depreciation |
|
of $25,286 and $22,593 |
52,855 |
|
52,211 |
|
|
|
$ 103,947 |
|
$ 100,243 |
|
|
|
======== |
|
======== |
|
LIABILITIES AND NET ASSETS |
|
Note payable - bank line of credit |
$ - |
|
$ 1,600 |
|
|
Accounts payable |
745 |
|
1,175 |
|
|
Accrued expenses and other liabilities |
3,487 |
|
3,486 |
|
|
Student deposits and prepaid fees |
1,759 |
|
1,965 |
|
|
Deferred revenue |
2,676 |
|
2,433 |
|
|
Current portion of long-term debt |
1,215 |
|
1,026 |
|
|
Total current liabilities |
9,882 |
|
11,685 |
|
|
|
|
Bank notes payable, less current portion of $1,070 and $872 |
15,384 |
|
14,966 |
|
|
Other, principally trust funds held for others and life income
funds |
|
less current portion of $145 and $154 |
2,361 |
|
3,805 |
|
|
Trust and annuity obligations |
7,124 |
|
7,029 |
|
|
Governmental student loan programs |
5,082 |
|
4,873 |
|
|
|
39,833 |
|
42,358 |
|
|
Net assets |
|
Unrestricted - |
|
Available for operational activities |
3,221 |
|
3,224 |
|
|
Long term investments - endowments |
9,081 |
|
6,876 |
|
|
Invested in land, buildings and equipment |
36,223 |
|
34,632
|
|
|
Total unrestricted net assets |
48,525 |
|
44,732 |
|
|
|
|
|
|
|
Temporarily restricted |
|
Trusts and annuities |
6,655 |
|
5,840 |
|
|
Other |
192 |
|
211 |
|
|
Total temporarily restricted net assets |
6,847 |
|
6,051 |
|
|
|
|
|
|
Permanently restricted - endowments |
8,742 |
|
8,102 |
|
|
Total net assets |
64,114 |
|
58,885 |
|
|
|
$ 103,947 |
|
$ 101,243 |
|
|
|
======== |
|
======== |
|
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|
|
|
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|
See notes to combined financial
statements |
|