vr\ :1epunoJeq IrucuolluuuoJulerol tr
600z;C/suodatptceppe'nltu'uttupe',rt
,{q
po$r.uqns puB peluder4
'It
L00zpuB 8002 reqolro
Eugpuesqluou rnoJ e{t roJ
slueueluls IBIcuuuI.{Iulrelul
'uo1q8no11
uu8;qcg41
o^!r(J puasll.lraol00?I
dlgsre,qul pcpolouqtel uuftqcg41
I
t
I
I
I
I
I
I
I
I
I
I
T
t
I
I
I
I
t
GeneraI Information
Since 1998 the most recentquarterlyfinancialreportshave been postedto this web site. Althoughthe
reportformats are not as "dressedup" as our annual auditedfinancialstatements,they fairly reflectthe
University'sfinancialcondition.The formatof these interimreportsreflectsthe adoptionof the
GovErnmentalAccountinq$tandardsBoard ('GASB")StatementNo. 35 financialreporting.Fund
aecountinq reportsare also providedfor managerialreview.
may be included
Sincetheseare only unauditedinterimfinancialstatements,immaterialdiscrepancies
in these statements.However,these discrepancieshave been notedand the appropriatecorrections
will be made in the subsequentmonth.
The Universityhas adoptedGASB39 (inclusionof the MichiganTech Fund(MTF)financial
statements).However,we are includingMTF only on our year-endfinancialstatements.There is no
inclusionof (MTF) activityin the MTU interimfinancialreporting. lf you would liketo see the MTF
site/financial.php
interimreports,click here: http:flwwiv.mtf.mtu.edultruptee
Haveany questions?
VisitourFrequentlv
AskedQuestions
section.
Financial Highlights
The Bottom Line:
TheUniversity
hada $2.3millionnetlossfor thefourmonthsendingOctober3l, 2008.Thisis $2.3
period's
is dueto an
netlossof $31thousand.
Thedifference
millionlessthanthe FY08equivalent
increasein fringebenefitsandlosson investments.Thefringebenefitsexpenseis furtherexplained
below.
BalanceSfieefVariances:
AccountsReceivable:
Fora detailedanalysisseetheSupportirrg
Schedules- Accountsreceivable.
lnvestments:
The University
haddollar-cost-averaged
approximately
$7 milliondollarsof R&lfundcashbackintothe
withthe University
SenateProposal:
equitymarkets.Thiswas consistent
rntu.ed
htnr
http:l/www.admin.
uiusenate/propose/8-O5.
downard,
investments
havedecreased
Withthe marketadjusting
$2.6million.
Deferredrevenue:
Research
activitydeferredrevenueis down$960thousand.
Insuranceand BenefitsReserves:
(ARC)of $1.0
TheUniversity
hasbookedits FY09GASB45 projectedAnnualRequiredContribution
miflion.This is the secondyearof the GASB45 (Accountingand FinancialReportingby Employersfor
BenefiKOtherThanPensions)
Postemployment
implementation.TheOctoberFY08interimfinancial
I
I
t
I
I
I
I
I
I
I
I
I
t
t
I
I
statements
included
a GASB45 projected
ARCandliability
of $670thousand. Thatnumberwas
updated.
susequently
FundsDueto MichiganTechFund:
Decrease
represents
MTU'spayment
to the Michigan
to acquire
TechFundfor the moniesadvanced
MTRI,ourAnnArborresearchfacility.
Inc ome Statement Vari ances:
NaturalGlassification
Reporting
Salariesand wagesareup 6%.Thisis a functionof bothraisesandadditional
employees.
l... tre FY09Combined
Frinsebenef/fs:
fundssummaryfringebenefitshaveincreased(27o/o)which
is
greaterthanthe increasein salaries(6%).Healthcarecosts,netof employeepremiums,areup 14o/o.
pressure,andan increasednumberof
This is a functionof increasedutilization,
inflationary
employees.The University
hasredesigned
its healthcareplansto betterpositionitselfto address
futurehealthcareexpenditures.
I
I
I
I
GombinedBalanceSheet(Statementof NetAssets)
t
I
I
I
I
T
I
t
I
I
I
I
I
I
I
As of:
10131108
CurrentYear
Assets
Cashandcashequivalents
Accountsandnotesreceivable/net
Inventories
Deposits
Prepaidexpenses
Totalcurrentassets
Studentloansreceivable/net
Investments
Capitalassets/net
of depreciation
Otherassets
Totalnon-current
assets
Total assets
ffi
23,022,363$ 21,081,496 $
10,485,964
9,758,052
1,610,000
1,601,243
637,597
581,229
13,525
28,285
35,041,537
33,778,217
13,490,506
13,577,796
4,688,374
7,273,720
224,876,899 222,423,499
544
978,544
Change
1,940,867
9o/o
-7o/o
(727,912)
1o/o
8,757
10o/o
56,368
-52o/o
(4.7601
1,263,320
4o/o
-1o/o
(87,290)
-360/o
(2,585,346)
1o/o
2,453,40',1_
Oo/o
(219,235)
1,044,085
Liabilities
Accountspayable
Otheraccruedliabilities
Deferredrevenue
Currentportionof UT liabilities
Totalcurrentliabilities
Fundsheldfor others
Insurance
and benefitsreserves
Notesandbondspayable
Capitalleaseobligations
FundsdueMichigan
TechFund
Totalnon-current
liabilities
Total liabilities
Oo/o
0o/o
(2,593,733)
(8,703,882)
(2,577,271\
(2,015,462)
(7,356,012)
(3,545,075)
(578,271)
(1,347,870)
967,804
(145,170)
(1,103,507)
29o/o
18o/o
-27o/o
4o/o
7%
(2,664,700)
(55,508,786)
(641,970)
(587,350)
(1,614,842)
(49,051,794)
(641,970)
(22,050)
(1,049,858)
(6;456,992)
65%
13o/o
-
500:000
(7,028,900)
Net (increase)decreasein net assets
Net(Assets),July1
Total net assets
Total liabilitesand net assets
10t31t07
PriorYear
0o/o
-83o/o
13o/o
|.8,132,4071
12o/o
(1,044,085)
0%
2,319,304
$
(2?9,0?5,858)
$ (ffi
$
I
I
I
I
t
t
I
I
t
I
I
I
I
I
t
I
I
I
I
Gombined lncome Statementby Object
(Statementof revenues,Expenses,and Ghangesin Net Assets)
10131108
10131107
Variance
Percent
Gurrent Year
Prior Year
Amount
StudentTuitionand Fees
160/o
$ 30,992,332 $ 26,744,320 $ 4,249,012
-60/o
FederalGrantsand Contracts
(543,262)
8,803,946
9,347,209
-2o/o
(27,084)
State/LocalGrantsand Contracts
1,187,777
1,214,961
Nongovernmental
Grantsand Contracts
3,888,189
3,872,649
15,541
0%
EducationalActivities
1,540,459
1,315,476
224,992
17%
StudentResidentFees
10%
9,727,894
8,829,441
899,453
Salesand Servicesof DeptActivities
4,255,531
4,168,052
2%
87,479
OPERATINGREVENUES
60,396,127 55,491,006
4,905,121
As of:
Salaries& Wages
FringeBenefits
Suppliesand Services
Scholarships
and Fellowships
Utilities
Depreciation
OPERATINGEXPENSES
Operating loss
FederalGrants
Stateappropriations,
Operating
Giftlncome
Investment
Income(loss)
InterestExpense
Losson Disposalof CapitalAssets
NETNONOPERATING
REVENUES
Income (loss) before other revenues
CapitalAppropriations
CapitalGrantsand Gifts
OTHERREVENUES
Net increase(decrease)in Net Assets
NetAssets,Beginningof Year
Net Assets,End of Period
(31,936,520) (30,045,182)
(13,616,107) (10,682,287\
(18,710,173) (16,239,254)
(3,234,952) (2,974,565)
(1,551,738) (1,667,364)
(3,700,000) (4,000,000)
(72,749,490) (65,608,652)
(12,353,3631 110,117,6461
1,900,739
5,502,055
4,644,127
(1,443,741)
(830,943)
(0)
1,351,875
5,399,669
3,667,902
237,838
(586,592)
04,3491
(1,891,338)
(2,933,820)
(2,470,919)
(260,387)
115,626
300,000
(7,140,838)
(2,235,7171
60/o
27%
15%
9%
-7o/o
'8o/o
11%
22o/o
548,864
102,396
976,225
(1,681,579)
(244,351)
74,349
2%
27%
-707%
42o/o
-100%
171,04;
,tZTi
261,82;
90,78;
261,822
90,780
',,71,042
(2,319,3041
(30,523)
(2,288,7811
4,799,540
41o/o
188%
7499%
-2o/o
I
I
I
I
I
GombinedIncomeStatementby Function
(Statementof Revenues,Expenses,and Ghangesin NetAssets)
As of Date
StudentTuitionand Fees
FederalGrantsandContracts
GrantsandContracts
State/Local
Nongovernmental
GrantsandContract
Educational
Activities
StudentResidentFees
SalesandServicesof DeptActivities
OPERATING
REVENUES
I
I
I
I
I
I
I
Instruction
Research
PublicService
AcademicSupport
StudentServices
Support
Institutional
of Plant
Operation
& Maintenance
StudentFinancial
Support
Auxiliary
Activities
SalesandServicesof DeptActivities
StudentResidents
Depreciation
OPERATING
EXPENSES
Operatingloss
FederalGrants
Operating
Stateappropriations,
GiftIncome
Investment
Income(loss)
lnterestExpense
Losson Disposalof CapitalAssets
REVENUES
NETNONOPERATING
Income(loss)beforeother revenues
Variance
10/31/08
10t31107
Percent
Prior
Amount
Gurrent
160/o
$ 30,992,332$ 26,744,320 $ 4,248,012
'60/o
(543,262)
8,803,946
9,347,208
-2%
(27,084)
1,187,777 1,214,861
0o/o
15,541
3,888,189 3,872,648
17o/o
224,982
1,540,458 1,3',15,476
10o/o
899,453
9,727,894
8,828,441
531
(18,474,897) (17,043,483) (1,431,414)
(95,395)
(15,613,888)(15,518,493)
(2,216,952) (1,676,859) (540,093)
(2,935,638) (3,432,530)
596,892
(2,557,157) (2,638,085)
80,928
( 1 2 , 3 1 0 , 6 1 3 ) (7,798,069) (4,512,U4)
(583,239)
(4,710,705) (4,127,466\
(1,459,205) ( 1 , 1 6 9 , 9 1 3 ) (289,292)
(4,491,636) (4,149,377)
(4,378,804) (4,054,376)
1,900,739
5,502,055
4,644,127
(1,443,741)
(830,943)
41o/o
549,964
2o/o
102,386 '
27o/o
976,225
( 1 , 6 8 1 , 5 7 9 ) -707o/o
(244,351',)
42o/o
7
(2,581,1301
CapitalAppropriations
CapitalGrantsandGifts
OTHERREVENUES
in NetAssets
Netincrease(decrease)
of Year
NetAssets,Beginning
NetAssets,Endof Period
1,351,875
5,399,669
3,667,902
237,838
(s86,5e2)
(342,259)
(324,428)
(121,3021
90.780
(2,319,308)
8o/o
1o/o
32o/o
-170/o
-3o/o
58o/o
14o/o
25o/o
0o/o
8o/o
8o/o
-100o/o
(2,459,8281 2028o/o
171.042
(30,5221 (2,288,7861 7499o/o
799
-2o/o
IIIIIIIITIIIITITTII
. SUPPLEMENTARY
SCHEDULE
FINANCIAL
STATEMENTS
CASHAND CASHEQUIVALENTS:
10131r08
BY FUNDGROUPS:
UNRESTRICTED
FUND
GENERAL
DESIGNATED
FUND
FUND
AUXILIARY
FUND
RETIREMENT
PLANTFUND(Unrestricted
funds)
BANKFUND
BY FUNDGROUPS:
DESIGNATED'RESTRICTED
RETIREMENT
FUND
FUND
EXPENDABLE
RESTRICTED
STUDENTLOANFUND
PLANTFUND(includesnewconstruction
outlays,2003&2004
bondproceedsplusdebtservicereservesfor the 1998bond
series)
AGENCYFUND
TOTALCASHA EQUIVALENTS
BY GENERALLEDGERAGCOUNT:
Gommingledcash and equivalents:
PETTYCASH
WELLSFARGOBANK
BANK
FIFTH/THIRD
RANGEBANK-CALUMET
& LL
NATIONAL
BANK
SUPERIOR
Comingled
cashtotal
Designated/Restricted
cash and equivalents:
FIFTHTHIRDBANK
MONEYMKT
R&IFUND- SCUDDER
2OO3
BONDISSUEFUNDS
2006BONDISSUEFUNDS
TOTAL
06/30107
06130106
06/30/05
($13,203,998)
14,331,624
14,889,928
(1,659,500)
(4,879,990)
($12,041,032)
12,580,735
7,013,945
(537,331)
(3,716,957)
9,479,064
3,299,360
'1,720,956
1,543,960
(423,745\
119,481
1,477,511
(504,284)
761,386
2,746,942
(155,s30)
850,747
9,123,801
7,357,935
1,746,603
12,109,100
1,106,035
10,198,583
14,534,743
1,296,512
19,273,414
1,893,801
175,983
9,912,512
(159,952)
13,543,300
$23,022,364
$15,408,460
($15,343,859)
11,963,505
8,217,248
(12O,526)
(3,556,404)
3,323,832
4,483,796
$14,682,378
($14,371,965)
12,154,843
6,596,882
1,654,762
(2,149,2151
3,885,307
$23,158,721
$109,070
0
21,077,580
1,056,577
(e41,820)
$89,789
0
13,091,973
10,076
652,8O4
$91,219
0
0
12,855,768
2,391
$76,589
0
0
10,907,211
191,355
21,301,407
13,844,642
12,949,378
11,'175,155
0
1,543,960
0
19,857
255,490
1,477,511
0
0
641,926
2,746,942
0
8,594,698
1,563,817
1,733,000
11,983,56€
$15,408,460
$14,682,378
0
1,720,956
0
0
't.720.956
$23,022,364
$23158;74_
III
I
TIIII
rrr
III
r
rI
I
- SUPPLEMENTARY
SCHEDULES
STATEMENTS
FINANCIAL
06,30t08
06,30r07
1,000,372
1,109,301
9,914,2'17
116,773
8,046,161
91,895
2,968,507
2,265,098
5,233,605
2,781,682
4,093,766
6,875,448
2,722,795
4,464,483
7,187,268
318,020
309,032
1,145,597
(65,122',)
400,862
368,761
3,349,638
(65,122)
10/31r08
ACGOUNTS
ANDNOTESRECEIVABLE:
ALL ACCOUNTS
REGEIVABLE:
STATEOF MICHIGAN-APPROPRIATIONS
STATEOF MICHIGAN-OTHER
RESEARCH:
BILLED
(mostlycurrentmonth)
UNBILLED
1,106,230
'154,622
STUDENTRELATED
VENDORRELATED
MISCELLANEOUS
FORDOUBTFUL
A/C'S
ALLOWANCE
1,218,281
(64,35e)
TOTALACCOUNTS
RECEIVABLE
9,758,052
17,613,965
19,379,453
06t30t08
1,634,523
605,517
255,409
158,591
127,643
06130r07
1,769,498
474,309
167,890
107,517
203,570
RESEARGH
BILLED.AGINGOFACCOUNTS
RECEIVABLE:
(rNDOLLARS)
10131r08
1,247,436
1,119,983
241,813
24,192
335,084
CURRENT
ACCOUNTS
TO
DAYS
PASTDUE
O
30
31 TO 60 DAYSPASTDUE
61 TO 90 DAYSPASTDUE
OVER90 DAYSPASTDUE
784
507
BILLED
TOTALRESEARCH
RECEIVABLE:
RESEARCH
BILLED. AGINGOF ACCOUNTS
(rNPERCENTAGE)
10/31r08
ACCOUNTS
CURRENT
OTO 30 DAYSPASTDUE
31 TO 60 DAYSPASTDUE
61 TO 90 DAYSPASTDUE
OVER90 DAYSPASTDUE
42o/o
38%
06130t08
59%
06t30t07
650/o
22o/o
17%
8o/o
9o/o
60/0
1o/o
60/o
4%
11%
5%
7o/o
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
Comoanv
AspenProducts
Group,Inc
AursosInc
BAESyslems
BattelleChapelHillOperations
BBNTechnologies
Boeing
Company
Caterpillar
CaterDillar
Inc
CFDResearch
Corporation
Chambers
County
Gleveland
Medical
Devices
lnc
PlantBiotechnology
Consortium
Research
Inc
ComellUniversity
Daimler-Chrysler
DetroitAirpon
EastemMichigan
University
ElectroSonics
EndresMachining
LLC
Innovations
EnergyCenterof Wisconsin
EverwoodSolutions.
lnc.
FloridaInstitute
of Phosphate
Research
FordMotorCompany
ForestStewardship
Program
GeneralMotorsCorporation
GreatLakesCommission
International
TruckandEngineCorporation
lntemet2
JohnDeereWaterlooWorks
Lesktech.
Limited
Lockheed
MartinCom.
Louisiana
PacificCorp
Marquette
GeneralHealthSystem
Massachusetts
lnstituteof Technology
Massachusetts
Instituteof Technology
LincolnLaboratory
MayoCllnic
Michigan
Department
of Environmental
Quality
Mlchigan
Economic
Development
Corporation
MikronInfrared,
lnc.
Michigan
Department
of NaturalResources
Mississippi
StateUniversity
Michigan
Department
of Transportation
National
Academyof Sciences
NTHConsultants
LTD
Officeof NavalResearch
Foundation
OhioStateUnivResearch
oregonstateUniversity
Osmoselnc
Panorama
Labs
PolarisIndustries,
Inc.
RioTintoMinerals
Rochester
lnstituteof Technology
Science
Applicauons
Corporation
International
SETCorooration
SouthFloridaWaterManagement
District
SRICOInc
Syracuse
University
TerexCorooration
UChicago
Argonne,LLC
Universidad
delTurabo
University
of AlaskaFairbanks
University
of Aizona
Universlty
of Arkansas
University
of Georgia
Universityof MarylandBaltimoreCounty
University
of Maryland,
CollegePark
University
of Michigan
University
of Nevada-Reno
University
of Rhodelsland
University
of Texasat Austin
Universlty
of Washington
University
of Wisconsin-Milwaukee
USDepartment
of Agriculture
USDAForestService
USDepartment
ot theArmy
USDepartment
of Defense
USForestService
USNational
ParkService
USDepartment
of Transportation
USDeptof Transportatlon
WaterEnvironment
Research
Foundation
Gurrent
6,347.93
32,035.00
19,202.42
0to30
66.86
31to 60
61to 90
Over90
12,424.36
4,110.69
5,364.19
85,997.00
-
7,830.00
3,400.00
2,720.67
2.720.67
20,390.00
917.03
3,447.14
4,477.68
6,857.30 '112,528.00 7,150.00
33,990.00
603.00
623.11
2,722.86
3,804.13
7,148.00
16,958.00
1,156.73
2,016.00
5,000.00
71,065.00
5,631.54
40,000.00
14,607:oo
12,163.00
19,200.30
1.416.67
20,000.00
.
3,600.00
57,379.00
7,188.00 15,127.63 38,894.36
17,500.00
13,878.00
7,573.17
157,000.00
9,500.00
10,612.94
1't,683.96
152,867.47 40,065.38
168.48
548,234.36 273,624.59
9,2145.86
1,285.92
964.03
9,639.00
1,706.34
2,000.88
-
26,763.84
3,632.20
175.966.36
19,176.76
2,823.66
400.00
63,313.44
4,614.80
-
1,153.69
10,000.00
13,988.00
15,437.67
74,312.34
1,457.88
5,949.68
15,398.85
15.240.62
12,621.03
2,850.87
-
30,000.00
1,942.42
10,748.00
1,815.50
3,865.09
863.25
1,305.29
11,120.80
9,360.04
14,067.89
1,687.14
12,236.90
6,s02.54 zs,zoi.ts
4,620.21
12.413.8'l
'11,oT7.48
5,171.79
10,055.77
25,728.26
560.68
22,937.36
7,555.08
10,222.85
40,558.36
499.84
32,s93.63
15,500.31
21,386.62
1,018.76
8,294.43
1,360.67
65,143.66
PlMonthEndSupport\FY2009\Oct2008\Oct
08 Receivables.xls
Account
Balance
6,347.93
32,035.00
31,693.64
4,110.69
5,364.1S
8s,997.00
7,830.00
3,400.00
5,M1.34
917.03
20,390.00
3,M7.14
4,477.68
126,535.30
33,990.00
603.00
623.11
2,722.88
3,804.13
7,148.00
16,958.00
5,'t73.61
5,000.00
71,065.00
5,631.54
40,000.00
26,770.00
19,200.30
1,416.67
20,000.00
3,600.00
57,379.00
61,209.99
17,500.00
13,878.00
7,573.17
157,000.00
9,500.00
10,6',t2.94
11,683.96
219,696.69
3,632.20
168.48
997,825.71
28,622.62
5,073.61
9,639.00
65,019.78
400.00
13,988.00
15,437.67
89,552.96
1,457.88
12,62"t.03
8,800.55
15,398,85
30,000.00
1,942.42
36,206.69
10,748'00
1,815.50
3,865.09
863.25
5,925.50
11,120.80
21,773.85
25,145.37
1,687.14
5,171.79
35,616.24
10,000.00
25,728.26
560.68
33,160.21
40,558.36
499.84
40,878.06
16,860.98
86,530.28
1,018.76
WestEd
Wisconsin
Deptof NaturalResources
Wisconsin
Department
of Transportation
Wolverine
PowerCooperative
Z-SeisCorporation
5,446.22
49,252.86
12,689.21
9,824.50
3,251.75
PlMonthEndSupport\FY2009\Oct2008\Oct
08 Receivables.xls
5,446.22
49,252.86
12,689.21
13,076.25
I
I
II
rrI
III
rIr
I
I
IT-I
. SUPPLEMENTARY
FINANGIAL
STATEMENTS
SCHEDULES
OTHERGURRENTASSETS
ANDSTUDENT
LOANS:
OTHERCURRENTASSETS
INVENTORIES:
BOOKSTORE
UNIVERSITY
IMAGES
CENTRALHEATINGOIL
IT TELCOM
CENTML STORES
CHEMISTRY
STORES
oTHER(UNDER$70K)
TOTALINVENTORIES
DEPOSITS:
WORKER'SCOMP
BC/BSOF MICHADVANCE
TOTALDEPOSITS
DEFERRED
EXPENSES:
LIBMRY PERIODICALS
& OTHER
MTRIRENT
PLANTFUNDBUILDING
MATERIALS
TOTALDEFERRED
EXPENSES
TOTALCURRENTOTHERASSETS
STUDENTLOANS:
FEDERALPERKINSLOANS.net
TECHAIDLOANS
TOTALSTUDENTLOANS
10/31/08
06/30/08
06/30/07
639,344
200,917
234,723
210,586
0
114,667
209,763
577,469
153,454
236,716
210,586
0
114,667
195,998
$467,672
143,70'l
259,378
206,295
114,549
108,435
166,534
$465,036
194,327
271,268
256,093
82,750
108,173
212,679
$1,488,790
$1,466,564
$1,590,326
20,000
617,597
20,000
617,597
20,000
561,229
20,000
466,526
637,597
637,597
581,229
486.526
$1,610,000
06/30/06
0
13,525
0
29,957
13,524
0
34,784
13,524
14,760
36,675
0
14,760
13,525
43.481
63,068
51.435
$2,261,122
$2,169,868
$ 1 2 , 2 6, 5
11 3
1,228,993
$12,061,145
1,233,203
$12,176,622
1,327,648
$11,493,323
1,261,627
$13,490,506
$13,294,348
$13,504.270
$12,754,950
P:\MonthEndSupport\FY2009\Oct2008\Other
AssetsOCT08 BOCGenLdgrSupp.xls
$2,110,961
$2,129,287
IIII
I
IIIIIIIIIII
r
rI
. SUPPLEMENTARY
FINANGIALSTATEMENTS
SGHEDULES
10/31/08
06/30/08
06/30/07
06/30/06
$947,491
159,706
15,957
959,713
510,866
$4,244,075
40,931
4,253
399,836
1,042,869
$3,270,342
38,970
9,723
806,633
1,286,890
$3,818,473
13,243
71
794,724
2,647,667
$2,593,733
$5,731,864
$5,412,558
$7.274.178
$3,944,060
14',1,993
1,038,720
(3,736)
252,142
$2,820,535
479,612
1,459,023
(2,167)
737,615
$2,675,877
389,837
1,443,846
1,899
720,731
2,706,704
720,753
$2,586,580
393,648
1,544,254
(2,185)
638,023
7.574
$8,507,894
$2,577,271
$2,554,640
$3,487,937
CURRENTLIABILITIES:
Accounts oavable
VOUCHERS
MISCELLANEOUS
SALESTAX & MISC
BENEFITSPAYABLE
ACCRUAL
TOTAL
Other accrued liabilities
ACCRUEDPAYROLL& TAXES
DEDUCTIONSPAYABLE
DEFERREDPAYROLLLIABILIW
BENEFITSPAYABLE
DEPOSITSPAYABLE& MISC
VACATIONACCRUAL
TOTAL
347.574
Deferred Revenue
2
,1
$7,e38
$2,720,689
Current portion of lonq term liabilities
BANKLINEOF CREDIT
BONDSPAYABLE- UNDER1 YR
MITELEQUIPMENT
NOTES
TELEPHONESYSTEMNOTE
OTHERCAPITALLEASES
NOTE PAYABLE
SUBTOTAL
- CURRENT(& ESP)
HEALTH& LTABTLTTY
HEALTH&LIABILITY-IBNR
HEALTH&LIABILIW-RSVP
- W/C (& MUSIC)
HEALTH& LTAB|L]TY
TIAA/CREFPAYABLE
TOTAL
TOTALCURRENTLIABILITIES
$o
1,050,000
0
0
198,836
500,000
1,748,836
$0
1,050,000
0
0
198,836
400,000
1,648,836
$0
1,030,000
00
o
00
322,310
1,352,310
208,088
1,432,799
0
318,000
0
208,088
1,432,799
502,225
318,000
0
208.088
1,225,629
572,517
300,000
00
333.027
1,288,309
595,898
323,000
$17,599,480
$20,904,346
$21,018,207
$21,714,285
Revised11120108
reducedL119HealthCare
Liabilities
OCT08 BOCG L Supp.xls
H:\Supplementary
Schedules\Current
$0
955,000
285,290
0
1,240,290
III-IIIIIIIIIIIIIIT
- SUPPLEMENTARY
FINANCIAL
STATEMENTS
SCHEDULES
NONCURRENT
LIABILITIES:
Insuranceand benefit reserves
ACCRUEDCLAIMS
MISC- LONGTERMPORTION
ESPLONGTERMPORTION
GASB45
TOTAL
DUETO MICHIGAN
TECHFUND
0
109,500
600,101
700
100,000 $
0
267,976
792,342
955,099
015.317
$0
216,766
980,813
0
600,000 $
750.000
P:\MonthEndSupport\FY2009\Oct2008\Other
LT Liabilities
OCT08_BOCGL Supp.xls
$o
211,565
1,165,599
0
IIIIIII
II
PROPERW, PLANT and EQUIPMENT
Nondepreciablecapital assets
LAND
MINERAL
MUSEUMEXHIBITS
TIMBER
CONSTRUCTION
IN PROGRESS
Depreciablecapital assets
LANDIMPROVEMENTS
INFRASTRUCTURE
BUILDINGS
DEFERRED
FINANCING
COSTS
EQUIPMENT
LIBRARYBOOKS
Total cost of capital assets
Less AccumulatedDepreciation
CAPITALASSETS,net
I
IIIIII
I
BeginningBalance
Julv 1.2008
EndingBalance
gCT 2008
$9,113,443
4,702,610
368,394
1,867,133
16,051,580
1,477,790.54
1,722,651
$9,113,443
4,947,490
369,394
3,344,914
17,774,230
1,323,100
4,949,127
293,665,452
2,037,304
29,601,254
882,923
0.00
0.00
3,516,179.81
338,951.88
750,564.27
0.00
1,323,100
4,848,127
297,181,631
2,376,256
30,351,818
882,923
332,358,159
4,605,696
336,963,855
348,409,739
6,329,347
354,738,085
(126,161,196)
(3,700,000)
(129,861,186)
I
r
TIIIIIIIIIIITIIIIII
NOTESAND BONDSPAYABLE
FYOg
FYOS
FYOT
FYO6
2OO3ISSUE
4,295,000
4,500,000
4,600,000
4,700,000
2OO4ISSUE
30,145,000
31,525,000
32,195,000
33,865,608
2006ISSUE
2,840,000
2,940,000
2,940,000
ISSUE
2OOs
15,785,000
LONGTERMPORTIONOF BONDSPAYABLE:
TOTAL
53,065,000
735,000|
0
38,565,608