FINANCE
PHOTO
70 Finance
Highlights of Financial Operations
For the Five Years Ending May 31, 2002 (Dollars in Millions)
Operating Revenues
Tuition and Fees
Sponsored Research & Training Grants
Government Grants & Student Aid
Auxiliary Enterprises
Other Revenues
Total Operating Revenues
Nonoperating Assets Used for Operations
Total Operating Revenues and Other Support
Expenses
Instruction
Libraries
Sponsored Research
Student Services
Student Aid
General Administration
Auxiliary Enterprises
Other
Total Expenses
Excess of Operating Revenues Over Expenses
1998*
1999*
2000*
2001*
2002*
$239.8
19.6
4.5
87.2
7.6
$252.2
23.8
4.6
90.4
7.1
$270.2
29.1
5.0
90.7
9.5
$277.0
32.0
5.1
93.1
9.1
$290.9
35.0
5.5
101.9
9.4
358.7
378.1
404.5
416.3
442.7
14.6
17.3
25.2
39.5
41.8
$373.3
$395.4
$429.7
$455.8
$484.5
$131.9
17.2
10.7
17.3
57.4
51.9
85.4
0.5
$140.2
17.2
13.6
19.4
62.8
53.9
88.2
-
$154.3
17.7
17.2
23.0
67.7
60.1
89.7
-
$167.1
18.4
17.8
25.2
69.2
63.7
94.4
-
$177.2
18.9
19.7
26.1
74.0
68.4
100.2
-
$372.3
$395.3
$429.7
$455.8
$484.5
$
$
$
$
$
1.0
0.1
-
-
* Costs associated with the operation and maintenance of plant facilities are functionally allocated. These costs totaled $26.4, $26.7, $28.0,
$29.7, and $30.0 million for fiscal years 1998, 1999, 2000, 2001 and 2002 respectively.
Source: Office of the Controller
Total Operating Expenses
Fiscal Year 2001-2002
Student Services
5%
General
Administration
14%
Sponsored
Research
4%
Instruction
37%
Student Aid
15%
Auxiliary
Enterprises
21%
Libraries
4%
-
Finance 71
Condensed Statement of Financial Position
For the Five Years Ending May 31, 2002 (Dollars in Millions)
Assets
Investments
Trustee Deposits
Receivables & Other Assets
Physical Plant
Depreciation
Total Assets (Net)
Liabilities
Payables and Accrued Liabilities
U.S. Government Loan Advances
Bonds, Notes & Mortgages Payable
Total Liabilities
Net assets
Endowment
Net investment in plant
Other
Total Net Assets
Total Liabilities & Net Assets
1998
1999
2000
2001
$883.3
5.1
104.1
627.6
(177.6)
$985.4
62.1
116.1
677.8
(185.1)
$1,136.5
29.3
139.1
763.4
(220.2)
$1,128.2
35.2
176.1
849.4
(242.4)
$1,143.0
28.9
200.5
934.7
(272.7)
$1,442.5
$1,656.3
$1,848.1
$1,946.5
$2,034.4
$73.6
29.2
295.0
397.8
$86.5
29.8
380.0
496.3
$90.6
31.0
386.6
508.2
$94.0
31.9
430.1
556.0
$97.4
32.8
469.6
599.8
813.5
161.5
69.7
910.9
173.8
75.3
1,070.2
188.5
81.2
1,103.7
214.5
72.3
1,126.0
219.0
89.6
1,044.7
1,160.0
1,339.9
1,390.5
$1,434.6
$1,442.5
$ 1,656.3
$ 1,848.1
$1,946.5
$2,034.4
Source: Office of the Controller
Total Assets and Liabilities
Fiscal Years 1998 through 2002
Total Assets
Total Liabilities
Total Net Assets
$2,500
$2,000
$1,500
$1,000
$500
$0
1998
1999
2000
2001
2002
2002
72 Finance
Tuition and Fees
For the Ten Years Ending May 31, 2003
1994 1995
1996
1997
1998
1999
2000
2001
2002
2003
$15,570 $16,640 $17,890
660
704
750
270
288
308
$18,820
790
324
19,770
830
342
20,760
872
360
21,700
912
378
22,680
954
396
24,050
1,002
416
$25,430
1,054
438
Undergraduate Schools
Arts & Sciences, Education,
Management, Nursing
Advancing Studies (per course)
Summer Session (per credit hour)
Graduate Schools
Arts & Sciences (per credit hour)
Education, Nursing (per credit hour)
Law School
Management (per credit hour)
Social Work
MSW part-time (per credit hour)
DSW part-time (per credit hour)
Advancing Studies (per credit hour)
470
470
17,720
538
13,970
378
434
-
502
502
18,940
574
14,930
404
464
-
536
536
20,180
612
15,910
432
496
-
566
566
21,230
646
16,740
456
524
-
596
596
22,300
680
17,580
480
552
342
626
626
23,420
714
18,460
504
580
360
656
656
24,480
748
19,300
526
606
378
700
700
25,790
792
20,170
550
634
396
736
722
27,080
832
21,180
578
666
416
774
760
28,440
874
22,240
608
700
438
Upper Campus
Modulars
Ignacio & Rubenstein 3-bedroom
Ignacio & Rubenstein 2-bedroom
Edmond’s Hall
Newton
66 Commonwealth Avenue
Walsh Hall
Gabelli & Vouté Apartments
Gabelli & Vouté Townhouses
Vanderslice Hall & 90 Campanella Way
3,680
4,550
4,410
4,550
4,550
3,680
3,680
3,970
4,730
4,960
4,180
3,830
4,730
4,590
4,730
4,730
3,830
3,830
4,130
4,920
5,160
4,350
4,030
4,980
4,830
4,980
4,980
4,030
4,030
4,340
5,180
5,430
4,560
4,200
5,200
5,050
5,200
5,200
4,200
4,200
4,530
5,410
5,670
4,760
4,340
5,370
5,220
5,370
5,370
4,340
4,340
4,680
5,590
5,860
4,920
4,480
5,540
5,390
5,540
5,540
4,480
4,480
4,830
5,770
6,050
5,080
4,620
5,730
5,560
5,730
5,730
4,620
4,620
4,980
5,960
6,250
5,240
4,810
5,940
5,780
5,940
5,940
4,810
4,810
5,190
6,180
6,470
5,450
5,050
6,260
6,080
6,260
6,260
5,050
5,050
5,450
6,510
6,820
5,730
5,340
6,570
6,380
6,570
6,570
5,340
5,340
5,340
6,840
7,170
6,010
Board Per Student
3,020
3,130
3,240
3,330
3,430
3,540
3,630
3,700
3,810
3,650
400
56
44
240
140
410
58
46
248
144
420
60
46
256
150
430
62
50
262
154
440
90
50
272
160
450
92
50
282
170
460
94
50
286
176
470
96
50
294
200
480
98
50
322
0
500
100
50
332
0
Room Charge Per Student
Representative Fees
Laboratory (Science)*
Undergraduate Government
Graduate Student Association
Health/Infirmary
Recreation
Note: All tuition and fees listed are for two semesters, except for those stated as “per course” or “per credit hour.”
*
Fee for laboratories in Biology and Chemistry. Fees in the other sciences and in most other fields are frequently lower.
Source: Boston College Policies and Procedures Manual
Finance 73
Boston College Undergraduate Tuition Restated in 1982-84 Dollars*
Effect of Inflation and Real Growth
Academic
Year
Tuition in
Absolute
Dollars
1989-90
1990-91
1991-92
1992-93
1993-94
1994-95
1995-96
1996-97
1997-98
1998-99
1999-00
2000-01
2001-02
$11,720
$12,700
$13,690
$14,580
$15,570
$16,640
$17,890
$18,820
$19,770
$20,760
$21,700
$22,680
$24,050
Consumer
Price
Index**
Tuition
in Constant
1982-84 Dollars
126.1
133.8
137.9
141.9
145.8
149.7
153.5
158.6
161.3
163.9
168.3
174.0
176.7
$9,294
$9,492
$9,927
$10,275
$10,679
$11,116
$11,655
$11,866
$12,257
$12,666
$12,894
$13,034
$13,611
* The Bureau of Labor Statistics calculates the CPI by setting the average index level for the 36-month period
covering the years 1982, 1983, and 1984 equal to 100 (1982-84 = 100).
** December CPI for the stated academic year.
Sources: Bureau of Labor Statistics and the Budget Office
Boston College Tuition Increases, Restated in 1982-84 Dollars
Effect of Inflation and Real Growth
$14 ,000
4.4%
$13 ,000
3.3%
$12 ,000
4.8%
$11,00 0
$10 ,000
1.8%
1.8%
1.1%
3.3%
4.1%
3.9%
$9 ,00 0
$8 ,00 0
1992 -93 1993 -94 199 4-95 199 5-96 19 96-97 19 97-9 8 1998-9 9 1999- 00 20 00-0 1 2 001- 02