2012 University and EMU Foundation Annual Report
TIMElINE 2011-2012
“As we celebrate the past and embrace the future, I urge you to look around you, to walk the
campus, tour our buildings and see what we have done together as a team in the past few years
to build the future of Eastern Michigan University.”
—President Susan W. Martin, in remarks to the Board of Regents, February 2012
Eastern Michigan’s
Autism Collaborative
Center, Children’s
Institute celebrate
official opening.
EMU partners with
Wuhan University in
China.
George “The Ice Man”
Gervin awarded
honorary degree.
Kim Schatzel named
new provost and vice
president.

July ’11
August
Psychology professor
Alissa Huth-Bocks wins
Hiram E. Fitzgerald
Emerging Scholar/
Researcher Award for
work with expectant
mothers.
American Electric Power
Foundation donates
$1.5 million in honor
of EMU regent Michael
Morris to fund an
endowed chair in the
College of Education.
September
october

November
December
EMU named militaryfriendly university by
GI Jobs Magazine.
“I am TRUEMU”
marketing campaign
launched.
EMU named one of the
“Best in the Midwest” by
Princeton Review for 9th
consecutive year.
2 Eastern Michigan University

EMU unveils new
9/11 memorial on
10th anniversary of
attacks.
COB called
‘outstanding’ for 8th
consecutive year
by the Princeton
Review.
Student Flora Du
honored by supply
chain organization for
exceptional leadership
and volunteer service.
EMU’s “INVEST.
INSPIRE. The campaign
for Eastern Michigan
University” reaches $50
million goal.
Undergraduate
Symposium, Graduate
Symposium showcase
student research,
collaboration with
faculty.
President Susan
Martin wins
leadership award
at annual Women
and Leadership
in the Workplace
conference.
Men’s head basketball
coach Rob Murphy
named MAC coach of
the year.
EMU named one
of the top 100 best
schools for graduate
social work program.
Princeton Review’s
Guide to Green
Colleges names EMU
one of the nation’s
322 most eco-friendly
campuses.
COB publishes its
first professional
journal, “Global
Advances in Business
Communication.”
January
February
March
April
Women in
Philanthropy awards
12 grants totaling
$43,000 to faculty, staff
and student research
projects.
Nursing professor TsuWin Wu receives grant
to help with breast
cancer awareness in
China and Taiwan.
Prosthetic and
Orthotics professor
Frank Fedel creates
innovative design for
amputees, wins top
honors in NASA design
competition.
Student Kentaro Roy
establishes annual
scholarship at EMU,
is named one of “20
in their 20s” by Crain’s
Detroit Business.
May

Gerontology professor
Elizabeth Schuster
named 2012 Public
Citizen of the Year
by the National
Association of Social
Workers.
Autism Collaborative
Center is granted
$500,000 from the
State of Michigan.
University Musical
Society honors EMU’s
Early College Alliance as
DTE Energy Foundation
School of the Year.
June ’12
CREDITS
Editorial and Project
Management by:
Division of Communications
and the EMU Foundation
Principal Writer:
Jeff Samoray
Design by: Michael Andaloro
Photography by: Michael
Andaloro, Randy Mascharka
Angela J. Cesere/AnnArbor.com
Published December 2012
Reflects honors, awards and
gifts received July 1, 2011 June 30, 2012
2011-12 Annual Report
3
from the president
Reaching New Heights
W
elcome to the 2012 Eastern Michigan University Annual Report. The past year
marks many milestones in Eastern’s 163-year history. From academic and student
success, to campus revitalization, enrollment growth, expanded community engagement
and completion of “INVEST. INSPIRE. The campaign for Eastern Michigan University,” we have a lot to take pride in.
As we look at all of the accomplishments over the past year and the outstanding contributions from the many people behind our successes—our outstanding students, wonderful faculty, dedicated staff and committed alumni and friends—it is clear that Eastern is
solidly positioned for the future.
We have launched a strategic planning process that
will help guide our path for the next decade. Many students, faculty, staff, alumni and friends of Eastern participated in the initial survey that formed the basis for this
effort, helping to identify Eastern’s strengths, our areas
of opportunity and our challenges. The process will lead
to a rejuvenated effort to more effectively align resources
with our strategic objectives and achieve a clear and
unified direction that all Eastern students, faculty, staff,
alumni and supporters can embrace.
Our efforts over the past year have helped lay the
foundation for our future path and continued success.
The impact of the investment we have made in our
people, our programs, and our buildings and grounds is
evident everywhere you look.
Our academic areas have never received more attention or looked better. The new Science Complex with
its unique spherical classroom/planetarium, as well as
new laboratories and study areas, showcases our focus
on STEM (science, technology, engineering and math),
disciplines that are so important to our region and are
also high growth/high income employment markets for
4
Eastern Michigan University
our students. Pray-Harrold, our largest and busiest classroom building, was reopened in fall
2011 after more than a year of a complete overhaul that resulted in renovated classrooms,
technology upgrades, modernized offices and vibrant new student gathering spaces.
Enhancing the overall student experience continues to be a priority. Renovations to
residence halls, dining areas, expanded wireless capabilities and more healthy food options,
as well as our investment in the grounds and “walkability” of our campus, are all part of
creating a campus environment that is attractive to current and prospective students, as
well as to faculty and staff.
These efforts are having a significant impact. This fall, we celebrated the largest incoming class of new undergraduates in Eastern’s history with 5,076 new
undergraduates. We also celebrated the largest class of first-time
freshmen in a decade at 2,595. We have the largest number of students living on campus since 2006. The incoming freshman class is
better prepared to succeed in college with higher GPAs, and is more
diverse as well.
In my fifth year as President of Eastern Michigan University, I believe more than ever that the positive momentum and the successes
our University community has achieved over the last several years
provide a great springboard to the future. Our consistent and unwavering focus on academic quality, student success, solid fiscal management, and on upgrading our facilities and infrastructure is creating a
more vibrant and engaged campus that will serve our students, faculty, staff, alumni, friends and supporters for decades to come.
I thank all of you for your support in helping create the positive
momentum that allows us to reach new heights. It is truly a team effort
and I am honored to be part of the Eastern Michigan University team.
Susan W. Martin
President
Stories of Impact
A
s I reflect on the past year and the successful completion of
“INVEST. INSPIRE. The campaign for Eastern Michigan
University,” I keep coming back to one word to summarize our
accomplishments. That word is “impact.”
Every day I have the pleasure of meeting alumni and friends of Eastern
Michigan University and I hear the stories behind why our donors choose
to give back. Through these valued relationships, I have learned that our
alumni and friends do not make gifts based
only on the value of a degree or the rankings of a program. Our donors give because
Eastern played a crucial role in their personal
development and has impacted who they are
today.
For some, their gift is a symbol of appreciation for the professors who took time to stay
after class to elaborate on a lesson. For others,
their gift represents the success they were able
to achieve because of the scholarship they
received as a student. Whatever the story may
be, the reasoning is clear: A gift to EMU is a
personal reflection of the difference a university can make in a person’s life.
I want to thank you for showing your support to Eastern Michigan University this past
year. Thanks to your belief in our students and
programs we had the most successful fundraising year recorded in EMU’s history. We raised
$11,486,273; with $10,369,482 in cash, yet another historically high accomplishment. Adding to our momentum, we saw an all-time high in the
endowment market value, driven by the most gifts and transfers designated
to the endowment since its beginning.
In this report you will read stories of impact that Build Knowledge, Improve Campus and Community, Enrich Student Life and Support Academics. Stories like these are evidence our impact goes beyond the dollars and
cents. Our impact is felt by every individual on
campus as we watch our University grow into a
regional leader in educational excellence.
As we reflect on a successful year, we show
gratitude to donors like you who make a difference. Thank you for being part of this transformative time at Eastern Michigan University.
Thomas R. Stevick
Vice President for Advancement &
Executive Director, EMU Foundation
2011-12 Annual Report
5
GIFTS THAT ENRICH STUDENT LIFE
Scholarships Support
Student Dreams
T
he legacy of former EMU
President John W. Porter is
reflected not only across
the EMU campus, but also in the
work of two students: one is expressing herself through dance;
the other is highlighting the environmental and economic impact
of sustainable design.
In December 2011, the Charles
Stewart Mott Foundation generously gave $16,000 to support
two scholarships in Porter’s honor: the Undergraduate Research
Excellence Endowed Scholarship
and the Graduate Research Excellence Endowed Scholarship.
Porter led EMU through a remarkable period of achievement,
growth and stability from 1979 to
1989. After leaving Eastern, he became superintendant of Detroit
Public Schools and served on the
board of the Mott Foundation.
Porter died last June at age 80.
The Undergraduate Research
Excellence scholarship recognizes
an arts major who participated in
EMU’s Undergraduate Symposium.
In 2012, the Communication, Media and Theatre Arts department
6 Eastern Michigan University
named dance performance major
Joy Morris the scholarship recipient. At the 2011 Undergraduate
Symposium, she presented a selfchoreographed dance titled “Freedom Amongst Chaos,” to music by
Laundry Submarine.
“At the time I choreographed
the dance, there was a lot of
stress and turbulence in my life,”
says Morris, who graduated in
April. “Art can help you deal
with life. I wanted to convey how
dance gives me a place to be
free—to lose the tension and just
be myself. I love sharing that form
of self-expression.
“I was honored and grateful to
receive the scholarship. I worked
several jobs to pay for my tuition
and never had any student loans.
I graduated with no debt, thanks
in part to the scholarship. Now I
can pursue my dreams. I’m teaching dance at several local studios,
but my goal is to open my own
dance company in Kalamazoo.”
Interior Design graduate student Linda Montgomery received
the 2012 Graduate Research
Excellence scholarship, which
Joy Morris
recognizes a College of Technology
student who participated in EMU’s
Graduate Research Fair. At the
2012 fair, Montgomery presented
research on sustainable design and
green roofs.
“Sustainability is the driving
force of my work,” says Montgomery, who has an internship with
the University of Michigan Design
Department. “Commercial buildings are the largest contributor to
environmental degradation. They
use lots of energy in the
form of heating, cooling and lighting.
It’s extremely
important to
lessen that impact through sustainable design.
“I was thrilled to receive the
scholarship. It not only tells me
that my work is valued, it also gives
me the confidence to pursue more
complex research.”
Montgomery will seek a position with a commercial architecture
or interior design firm after graduating next April. In addition to designing new spaces, she welcomes
the challenge of working on older
buildings.
“I’m also pursuing a graduate
certificate in EMU’s Historic Preservation Program,” she says. “I’d
love to combine sustainability with
adaptive reuse of historic structures.” n
STUDENT LIFE
Extraordinary Gifts Lead
to Advanced Scholarship
E
astern Michigan University
alumna Delores Soderquist Brehm (BS52) and
her husband, William, are shaping the future of children with
special needs through an array of
extraordinary programs for EMU
Special Education students.
In 2003, the Brehms established a $1 million endowed
scholarship to annually benefit
eight students at the undergraduate or graduate level who
are preparing to become special
education professionals. As the
Brehm Scholar Program has developed, the Brehms have made
additional contributions to fund
scholarly activities, including an
annual Special Education Summer Institute.
In 2011, the Brehms furthered
their goals by donating $3.2 million to the College of Education,
the largest gift in EMU history.
The donation established the
Delores Soderquist Brehm Center
for Special Education Scholarship
and Research and fully endowed
the programs they support.
Kevin Dorn, a master’s student
in Special Education specializing
in cognitive impairment, is
one of the 2011-12 Brehm
Scholars. These students exhibit
outstanding pre-professional
skills in the field of special
education and demonstrate a
commitment to serve children
with special needs. Dorn is
researching ways to improve
science and nature education for
students with autism spectrum
disorder (ASD).
“I became interested in autism while working as a substitute teacher for the Washtenaw
Intermediate School District,”
Dorn says. “Then I did some consulting with the Leslie Science
and Nature Center in Ann Arbor.
Many of their teachers aren’t
experienced in working with ASD
children. I wanted to help them
find ways to further engage and
include all students, particularly
those with ASD.”
Active faculty/student collaboration is one of the tenants
of the Brehm Scholar Program.
Over the past year, Dorn worked
with Derrick Fries and Sally Burton-Hoyle (both associate professors of special education) on his
research. First, they videotaped
student/teacher interactions during a Family Nature Night at the
Leslie Center. Then they trained
center teachers on how to better
engage ASD students. When in-
dependent evaluators reviewed
videotapes recorded during a
subsequent Family Nature Night,
they noted significant improvement in student proximity,
physical engagement and communication.
“My experience as a Brehm
Scholar has challenged me to
think deeply, work hard and
create a grand scheme for this
project,” says Dorn, who plans
to become a teaching consultant after earning his master’s.
“The Brehms are extraordinarily
generous and forward-thinking
people. I’m very grateful to them
for offering this opportunity.
Many great things are happening thanks to their inspiration
and support.”
Fries says the Brehm Scholar
Program has created extraordinary opportunities for EMU
students to pursue rigorous
scholarship.
“This type of research for
a master’s-level student is uncommon and exemplary,” Fries
says. “Kevin is a phenomenal
individual and working with
him has been very rewarding.
His contribution to the field of
special education will give more
ASD students a chance to be
successful in science education.
Kevin’s work is contributing to
the greater good of the world—
it’s fantastic.” n
2011-12 Annual Report
7
GIFTS THAT ENRICH STUDENT LIFE
Inspiring Future Radio
Broadcasters
A
s president and
general manager of
Detroit radio station
WJR in the 1950s and 60s,
Worth Kramer was known
for his uncompromising
standards for broadcasting
excellence and ethics. As he
stated in a speech delivered
in 1958 to the National Association of Broadcasters,
“…the good broadcaster
will grow and prosper in
direct proportion to the importance he achieves in his
community. … This formula
cannot be improved upon—
it has withstood, and will
continue to withstand, the
test of time.”
EMU students are benefitting from Kramer’s legacy,
as his widow, Mary Trevorrow Kramer, established the
Worth H. Kramer Memorial
Endowed Scholarship with
a generous $75,000 estate
gift. The scholarship will assist Communications, Media
and Theatre Arts students
pursuing a career in radio
8 Eastern Michigan University
broadcasting.
“While completing her
estate planning, Mary expressed an interest in endowing scholarships to support
broadcasting students,” says
Tom Hammerschmidt (BA75),
an EMU alum and attorney
who represented the Kramers.
“I suggested that she consider
one for Eastern Michigan
University, knowing of its
broadcasting programs. She
stints at several other small
stations, he became WJR’s
program director in 1946 and
worked up to an executive
level in the 1950s. After leaving WJR in 1970, the Kramers
relocated to Sarasota, Fla.,
where Worth continued working for station WSPB. He died
in 1998 at age 89. Mary died
in 2010 at age 92.
“Worth was extremely
supportive of his profession
lEFT: Worth Kramer. ABoVE: Broadcasting students Gage DeAngelis (left) and
Laura Hickman banter about entertainment, sports and campus life on Eagle Radio.
thought it would be a nice
way of continuing Worth’s
broadcasting legacy.”
Kramer’s dynamic radio
career spanned many years.
In 1930, he joined WTAM in
Cleveland as a singer. After
and delivered many speeches
about the future of radio,”
Hammerschmidt says. “He
would have been proud to
know that this scholarship is
helping students pursuing
broadcasting careers.” n
STUDENT LIFE
Gifts from a Visionary
Donor
O
f all students age 18
and under in the United States, EMU Professor of Education Tsai-Ping Li
estimates that only two percent are classified as “Visually
Impaired” (VI). Consequently,
very few universities offer programs preparing students to
teach the visually impaired.
EMU is the only Michigan
university and one of the few in
the Midwest offering a VI major.
The program has become so
renowned, the Michigan Braille
Transcribing Fund (MBTF) has
awarded four $6,000 student
scholarships each year to VI
majors since 2004.
“We didn’t solicit the MBTF
for the scholarship funds,” Li
says. “They came to us because
they value programs that prepare students to work with
Braille readers. Their scholarships are very valuable to our
students. The funds allow them
to concentrate fully on their
academic work.”
The Michigan Braille Transcribing Fund is the largest
Braille production facility in
the nation. Located at the G.
Robert Cotton Correctional
Facility in Jackson, Mich., the
non-profit program teaches
prisoners to transcribe textbooks, graphics and other
printed materials into Braille.
MBTF trainees undergo a
rigorous certification process prescribed by the U.S.
Library of Congress. The program is highly successful—
each of the certified Braille
transcribers who have been
released currently operates
their own Braille production center within Michigan.
MBTF also has a zero percent
recidivism rate.
Eight students are currently enrolled in EMU’s VI
program. Students develop
proficiency in reading and
writing Braille and Nemeth
Code, which is used for
mathematics and science
notation.
“Learning Braille requires
extensive training,” Li says.
“Students with visual impairments may only make up
a small percentage of the
population, but they depend upon teachers trained
in Braille. That’s why we’re
grateful to MBTF for supporting EMU students.” n
2011-12 Annual Report
9
GIFTS THAT SUPPORT FACULTY
Making a Historic Gift
E
MU’s Historic Preservation Program is
poised to become the
most renowned program
of its kind in the nation,
thanks to a generous leadership gift from an anonymous program alumna and
her husband.
The gift is the largest
ever made to EMU’s program, which was founded
in 1979. Since then, the
program has grown to
become the largest in the
nation, with more than
100 master’s-level students
from across the country and
around the world. Program
graduates are prepared for
professional service in the
fields of preservation planning, historic administration
and heritage interpretation.
Despite past donor and
EMU support, the program
has faced challenges. It
has no dedicated internal
budget or administrative
support and in the past had
limited funds for scholarships, graduate assistantships or visiting professors.
Now, that will change.
Historic Preservation Program students repair and preserve a stone foundation at Campbell-DeYoung Farmstead.
“This gift has been
10 Eastern Michigan University
immeasurable in allowing
us to look ahead as a
program and determine
where we want to be and
how to get there,” says
Ted Ligibel, Ph.D., Historic
Preservation Program
director. “We’re very
grateful to the donors,
who support our goal to
be the best-known and
most productive graduatelevel historic preservation
program in the country.”
The gift will support expenditures for items such
as student scholarships
and graduate assistantships; visiting professorships; a part-time program
administrator; dedicated
office, classroom and
laboratory space; program
outreach initiatives; and
more hands-on learning
opportunities at the program’s Northern Michigan
locations, which includes
the Campbell-DeYoung
Farmstead on the Leelanau
Peninsula.
“We looked at every
aspect of the program
and identified our needs,
both short and long-term,”
Ligibel says. “When we
presented our ‘wish list’
to our donor and her hus-
band, they became very
excited and immediately
committed a pledge to our
long-range development
initiative. It’s given us a
wonderful opportunity
to plan for the future. We
subsequently leveraged
their gift to secure matching funds from various
sources, including other
program alums. We saw
a 150 percent increase in
total alumni giving.”
In addition to supporting the program from an
academic standpoint, Ligibel says the gift will allow
program graduates to become even more competitive in the workplace.
“One of our hallmarks is
our 80 percent job placement rate for program
graduates,” Ligibel says.
“This generous gift will
allow us to hire more specialists to teach restoration
activities, such as window
restoration, re-pointing a
stone wall and caring for
historic furnishings. Our
donors really value the
fact that our students get
the hands-on experience
that makes them highly
sought after in the job
market.” n
SUPPORTING FACULTY
Changing the World of Retail
Merchandising
I
magine you’re creating a
high-end retail clothing store.
Since you’ll carry items by
well-known designers, it’s important to optimize your floor plan
with the right fixtures and create
enticing displays. You could take
photographs of physical mockups
and spend endless hours adding
and removing product images.
Or you could use a computerized
modeling tool to create a threedimensional virtual retail layout,
changing fixtures and merchandise with a simple mouse click.
Students in Eastern’s Apparel, Textile and Merchandising
program are doing the latter
using Mockshop, a cutting-edge
software program generously
donated by Visual Retailing LLC, a
U.K.-based visual merchandising
company.
Julie Becker, assistant professor
in the School of Technology Studies and director of EMU’s Textiles
Research and Training Institute,
says it’s a snap to create complex
animated store experiences with
Mockshop.
“Students can quickly and eas-
EMU graduate student Kirstin Forster uses Mockshop software to create a virtual retail clothing store and floor plan.
ily build interactive three-dimensional stores of any size, complete
with fixtures, garments and graphics,” she says. “They can create
and test concepts and floor plans
virtually, without having to fold a
single garment or disrupt any ac-
tual floor space. This software has
brought our students up-to-date
in the technology world.”
Becker began researching
visual merchandising products
for the program before choosing
Mockshop. Then she contacted
Visual Retailing to request a licensure donation.
“I felt our program lacked a
way to perform virtual merchandising,” Becker says. “Mockshop is
very robust—companies like Macy’s, Target and Calvin Klein use
it regularly. Eastern is one of the
few universities in Michigan, Ohio
and Indiana that offers Mockshop.
That gives our students a competitive edge.”
Visual Retailing recently donated a 50-user Mockshop license
valued at $300,000 to Eastern. Additional licenses and software upgrades are available at no charge.
In addition, Visual Retailing provided extensive software training
to five Eastern faculty members
before Mockshop was placed in
the classroom.
“One of the best things about
this wonderful donation is that it
makes our program graduates very
marketable,” Becker says. “Since our
graduates will already know how
to use Mockshop, they will be very
attractive to companies like Nike,
Adidas, Columbia and others.”
Becker will also use Mockshop
in a research project comparing
virtual and in-person retail experiences.
“I’m interested in learning if
virtual retailing will change consumers’ buying habits,” she says.
“Would you buy more from a virtual store if you could save time and
money? Could a retailer become
more profitable by maintaining
virtual stores instead of brick-andmortar stores? Software like Mockshop is quickly changing the way
we shop and opening up exciting
new areas for research.” n
2011-12 Annual Report
11
GIFTS THAT IMPROVE CAMPUS COMMUNITY
Enhancing Eagles
Athletics
W
ith the help of
generous donors
and devoted
alumni, EMU continues to
upgrade its athletic facilities
to keep pace with its MidAmerican Conference rivals.
Late last summer, the
locker room at Rynearson
Stadium underwent extensive renovations. Eastern
replaced all existing metal
lockers with high-quality
wooden lockers featuring
seating and secure areas for
personal items. A cold water
tub was installed to help
rejuvenate sore muscles.
Eastern also applied a fresh
coat of paint and cleaned the
carpet.
The project is EMU’s first
solely private fundraising
initiative to support athletics. Head Football Coach
Ron English helped solicit a
generous $150,000 gift from
the Bruce T. Halle Family
Foundation. Former Eagles
safety and EMU Regent Phil
Incarnati led alumni giving
(From left) Seniors and EMU Eagles pitchers Steve Weber and Neil Butara.
12 Eastern Michigan University
with a generous leadership
gift. Other former Eastern
athletes and alumni contributed gifts at all levels.
“We do everything
first-class at Eastern, which
includes giving our players
a true Division 1A football
experience,” says EMU Athletic Director Derrick Gragg.
“The renovations not only
give our players a sense of
pride, they also help our
recruiting efforts. I want
to credit Coach English
for initiating the project
and thank all the donors
who made the renovations
possible. With reduced
state funding to universities, private donations are
as critical now as they’ve
ever been. All the gifts are
greatly appreciated.”
Oestrike Stadium also
underwent renovations,
thanks to an anonymous
$50,000 gift. The baseball
locker room now sports
new wooden lockers, fresh
paint and new flooring.
“The improvements
have had a tremendous
impact on the team,” says
EMU Baseball Coach Jay
Alexander. “The players
feel a strong commitment
to our program, and that’s
reflected in their play. The
upgrades and other ongoing stadium renovations
pay homage to EMU’s
strong baseball legacy.”
In addition, Eastern’s
women’s tennis team has
courts on campus for the
first time in many years,
thanks to a generous leadership gift from Claudia
Wasik (BS62, MS66), former
EMU tennis coach and associate athletic director for
women’s athletics. The six
courts, named in Wasik’s
honor, sit north of the EMU
Indoor Practice Facility. The
courts opened in the fall.
“It’s vital for every Division I program to have a
facility to call their own,”
says EMU Women’s Tennis
Coach Ryan Ray. “It’s really
going to help with recruiting and the overall atmosphere of the program.”
After Eastern removed
its old tennis courts years
ago to create parking lots
and new facilities, the team
held its home matches
at the Chippewa Club in
Ypsilanti. Now that Eastern
has its own courts, expect
to see a program revival
for Eagles athletes and fans
alike. n
CAMPUS COMMUNITY
Supplying Students with
Scholarships
I
n his last six years at Eastern, Professor Emeritus of
Marketing Hugh McSurely
devoted his energy to helping
establish the University’s wellregarded Supply Chain Management (SCM) Program. Now in his
retirement, McSurely continues
to assist students entering this
growing field.
Earlier this year, McSurely
made a $10,000 gift to create the
Hugh McSurely Supply Chain
Management Endowed Scholarship. The funds will support EMU
juniors, seniors and graduate
students majoring in SCM.
Offered within EMU’s College
of Business by the Computer
Information Systems and Marketing departments, SCM integrates
the business process involved
in the design of products, the
procurement and delivery of
materials, production operations,
the distribution of materials to
end-users, and the management
of customer relationships.
“Supply chain management
has become a very important
part of global business,” says
McSurely, who retired in
2008 after 27 years of teaching at Eastern. “Developing
the most efficient supply
chain gives companies
an edge over their competitors. It’s a very complex
process that requires a
complex understanding of
how goods move, as well
as information systems and
inventory control.”
When creating the SCM
program, McSurely met with
SCM professionals to gather
input about what courses
should be offered. He then
assembled an EMU task force
of five departments and
two colleges to flesh out the
course offerings.
“We developed courses
that cover competencies
identified by supply chain
professionals,” McSurely says.
“It’s more than an appliedtheoretical program. Our
competency-based approach
has made our program very
relevant.
“Many of our SMC students
are seeking to enter a new
profession. I hope that my gift
will give students an opportunity to succeed in this field
and compete in the international business arena.” n
2011-12 Annual Report
13
GIFTS THAT IMPROVE CAMPUS COMMUNITY
Building a Strong
Community
Y
psilanti is transforming itself into a city
lined once again
with the homes of EMU
faculty and staff, thanks to
the new LiveYpsi Forgivable
Loan Program.
EMU, the City of Ypsilanti,
the DTE Energy Foundation
and Washtenaw County
developed the program,
which is in a pilot phase.
It provides $7,500 loans to
permanent EMU employees
with an appointment of 50
percent or more who purchase a home in Ypsilanti.
Borrowers can apply the loan
toward a down payment,
closing costs, remodeling
or anything else related to
the purchase. For each year
the employee remains in
the home and employed by
EMU, 20 percent of the loan
is forgiven. After five years,
the entire loan is forgiven.
“The program is a
win-win for Ypsilanti
and Eastern,” says Leigh
Greden, EMU executive
14 Eastern Michigan University
Angela J. Cesere | AnnArbor.com
Tricia McTague, assistant professor of sociology, anthropology and criminology, and Dustin Dorsey took advantage of the Live Ypsi program in July.
director of Government
and Community Relations.
“Ypsilanti is committed to
having stable neighborhoods
with people who own rather
than rent. EMU is the city’s
largest employer and we have
a highly educated and stable
workforce. Our employees
have a great opportunity to
receive a forgivable loan for
a home purchase. Some loan
recipients walk or bike to work.”
The DTE Energy Foundation generously contributed
$30,000 to LiveYpsi’s total
funding pool of $67,500.
“The foundation is not
only the program’s largest
donor, it also committed
quickly and enthusiastically,”
Greden says. “This endeavor
isn’t something Eastern can
do on its own and Ypsilanti
faces financial challenges. We
need private sector partners
to make this program work
and DTE paved the way.”
Greden says Eastern wants
to continue the program after
the initial funding pool is exhausted.
“The university will be hiring for fall 2013,” Greden says.
“We definitely see new hires
as potential beneficiaries of
this great program.” n
GIFTS THAT BUILD KNOWLEDGE
A Powerful Advocate for
Asian Americans
W
hen she was in her
early 30s, Tsu-Yin Wu
found a large lump
in her breast while doing her
monthly self-examination. A
professor of nursing at Eastern
as well as a clinician, she knew
immediately what her next
step should be.
“I needed a mammogram,
but nobody wanted to take
my word and schedule one
for me,” she recalls. “I was told,
‘you’re Asian and you’ll never
get breast cancer at this age.’
It took me a few weeks but I
finally talked to a nurse practitioner who helped me get an
appointment.”
Luckily, the lump was benign, but the experience was
transformative nonetheless.
Wu thought of all the women she’s encountered at the
health fairs run by the Healthy
Asian Americans Project, which
is based at Eastern and which
she’s directed since 2007—
women who weren’t bilingual,
who didn’t have health insurance, who didn’t know they
Professor Tsu-Yin Wu spent the day counseling Asian women about breast cancer at a health fair in November.
should be screened for illnesses like cancer and diabetes
even if they were feeling well.
“Something needs to be
done to educate these women,”
she says. “Once they know
what’s out there, they can
speak on behalf of themselves.”
With the help of multiple
grants from the Susan G. Ko-
men for the Cure®-Lansing Affiliate, Wu has directed a project to increase breast health
awareness and access to detection among the underserved
and uninsured Asian-American
population in Washtenaw
County. The endeavor has been
so effective that the foundation’s national office recently
funded a similar project, based
on the local model, for underserved areas in China and
Taiwan.
In addition, a recent $50,000
grant from the W.K. Kellogg
Foundation will support Wu’s
work to promote well-being
and mental health among
immigrant Asian-American
children and adolescents. The
project will involve parents and
significant family members,
address cultural and economic
stressors specific to those
families, empower communities, and foster collaborations
between school systems and
clinical agencies.
“I see it as my mission to
become the advocate for this
population,” says Wu, who emigrated from Taiwan 20 years
ago. “Despite the people who
think Asians all have good jobs
and health insurance, our study
shows more than one-third of
the Asians who come to our
health fairs don’t have any access to health care.
“I’m very passionate about my
people, and equally dedicated to
carrying out my vision in terms of
research and advocacy.” n
2011-12 Annual Report
15
GIFTS THAT BUILD KNOWLEDGE
Mentoring Future
Scientists
A
t Eastern Michigan
University, students
have the opportunity
to perform research alongside
their faculty mentors. One
professor is not only teaching
his students research methods, he’s also developing the
next generation of biochemical scientists.
Jim Hoeschele, adjunct
professor of chemistry at
Eastern, is working with four
to six students each semester on developing cancerfighting drugs. His generous
gift to the EMU Foundation
has enabled the chemistry
department to hire student
research assistants and pay
for lab equipment and routine lab expenses.
“Since the early 1970s,
I’ve been involved in the
design and synthesis of specific metal compounds to
create anti-tumor drugs,” says
Hoeschele, who joined EMU
in 2009 after teaching for 15
years at Michigan State Uni- Adjunct Professor of Chemistry Jim Hoeschele (right) works alongside biochemistry major Adefolate Bakare (left) and biology and chemistry major
Aleta Luesse. Hoeschele and his students are developing more effective cancer-fighting drugs.
versity. He also worked as
16 Eastern Michigan University
a senior research chemist
at Parke-Davis. “I had very
little time to do research at
MSU. I loved teaching, but
I wanted to resurrect my
research and work with undergraduates. Eastern has
enabled me to do that.”
In the early 1970s,
Hoeschele helped develop
Cisplatin, a chemotherapeutic drug used to treat a wide
variety of solid cancers and
co-invented Carboplatin, a
similar drug with fewer side
effects. Today, Hoeschele
and his student assistants
continue to investigate metal-based compounds that
could result in more effective cancer medications.
“It’s important to support
bright, young undergraduates who want to do important research,” Hoeschele
says. “Students learn about
basic research tools and approaches and how to solve
complex problems before
they enter the marketplace.
This kind of opportunity
isn’t available at every university. The students I work
with pour themselves into
the project so they get the
most out of it. I wish more
of these opportunities had
been available when I was
an undergraduate.” n
GIFTS THAT BUILD KNOWLEDGE
Innovative Teacher
Education
E
conomic experts agree—if
America is to remain competitive globally, it must
develop more workers trained in
science, technology, engineering
and math (STEM). Eastern Michigan University, in partnership with
Project Lead the Way (PLTW) and
generous donors like the Dart
Foundation, are working to turn
more middle and high school students on to STEM careers.
PLTW is a non-profit organization providing STEM education
programs to middle and high
school students nationwide. Students engage in hands-on classroom experiences that emphasize
activities and problem-based
learning. PLTW offers programs
to more than 400,000 students in
all 50 states. Nearly 100 Michigan
schools currently have PLTW programs.
Eastern is a Michigan PLTW
affiliate, offering comprehensive
two-week Core Training sessions to
middle and high school teachers
each summer. The Dart Foundation, which supports STEM educa- Educators attending the PLTW Core Training sessions at Eastern last summer learned how to better incorporate science, technology,
engineering and math in their curriculums.
tion programs, recently made a
$140,000 gift to support the
training sessions and provide
science and technology lab
equipment.
“Teachers attending the
summer training learn different methods of incorporating
activity and problem-based
learning into their STEM curriculums,” says John Dugger, professor of Technology Studies
at EMU and affiliate director of
Michigan PLTW. “When teachers apply what they learn, their
students become more engaged in the learning process
and their math and science
achievement increases.”
Eastern is also training the
next generation of teachers to
develop hands-on STEM classes. Two courses are available for
Technology and Design Education majors. Next fall, course
offerings will be extended to
Math and Science Education
majors.
“Eastern is at the forefront
of STEM education training and
we’re affiliated with the top
program in the country,” Dugger says. “Supporters like the
Dart Foundation are helping
us prepare teachers to provide
cutting-edge curriculum that
will increase our nation’s STEM
workforce.” n
2010-11 Annual Report
2011-12
17
Year in Review – Giving
Fiscal year 2012 was truly a record-setting year in several ways.
With “INVEST. INSPIRE.
The campaign for Eastern Michigan University” coming to a close in 2012, history was made in several
categories. Total funds raised during fiscal year 2012 reached $11,486,273; $10,369,482 in cash, representing
the highest amount of cash gifts received in EMU’s history, and gifts-in-kind of $1,116,791. Fiscal year 2012
activity also resulted in the highest endowment market value, the highest amount of gifts and transfers
designated for the endowment and the highest amount of funding provided to EMU from the endowment in
EMU’s history.
Endowment Market Value
$30M
$20M
$10M
Eastern Michigan University
$51,413,003
$48,205,918
••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••• •
••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••• •
2008
18
$40,726,822
$40M
The endowment ended the year at $51.4
million, including planned gifts managed by
Although the
• • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • •the
• • • Foundation
• • • • • • • • • • • of
• • •$851,000.
•
endowment portfolio experienced a relatively
flat fiscal year investment return of negative
• • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • •0.4
• • •percent,
• • • • • • • •the
• • • •net
• • •impact of the investment
return, normal endowment spending and the
highest amount of gifts and transfers ever
• • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • •designated
• • • • • • • • • • •for
• • •the
• • •endowment
•
of nearly $6.5
million, resulted in the highest endowment
market value in EMU history.
$36,335,495
$50M
••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••• •
$46,619,891
$60M
Endowment Reaches Highest
Market Value in EMU History
2009
2010
2011
2012
$1.4M
aBOVE: Funding Provided from Endowed
Scholarships and Endowments
Endowed scholarships and endowments
provide an ongoing source of income to EMU’s
students and programs. In fiscal year 2011-12,
the University received $1,456,024, which is
the highest amount of funding received from
the endowment in EMU’s history.
Gifts for immediate use help the University
meet urgent scholarship and program needs.
In 2011-12, approximately $4.6 million
was dispersed to EMU for distribution. This
figure includes cash gifts and gifts-in-kind
received directly by EMU along with cash gifts
distributed to EMU from the Foundation.
Immediate Use Gifts to EMU for Programs
and Scholarships
Cash Gifts
Gifts-in-Kind
Total Gifts
$5M
• • • • • • • • • • • • • • • • • • • • • • • • • • • • • •$4,983,434
•••••••••••••••••••••••••••••••••••••••••
$4.5M
•••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••
$4M
•••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••
$3.5M
• • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • •$3,264,413
•••••••••••••••••••••••••••
$3M
• • •$2,590,255
••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••
$2.5M
•••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••
$2,509,329
$3,511,054
$4,627,845
$1.2M
BElOW: Immediate Use Gifts to EMU for
Programs and Scholarships
$3,872,068
$1M
$1,375,346
$5,198,126
$800,000
$1,383,425
$5,103,258
$600,000
$1,456,024
$3,360,080
$400,000
$1,053,923
ttttttttttttttttttttttttttttttttttttttttttttt
$200,000
$1,175,038
ttttttttttttttttttttttttttttttttttttttttttttt
2007-08
ttttttttttttttttttttttttttttttttttttttttttttt
2008-09
ttttttttttttttttttttttttttttttttttttttttttttt
2009-10
tttttttttttttttttttttttttttttttttttttttttttttt
2010-11
tttttttttttttttttttttttttttttttttttttttttttttt
2011-12
tttttttttttttttttttttttttttttttttttttttttttttt
Funding Provided From Endowed Scholarships
and Endowments
$2,593,929
$2M
••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••
$1.5M
••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••
$1M
••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••
$500,000
• • • •$769,825
••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••
$1,116,791
$607,655
$214,692
2007-8
2008-9
2009-10
2010-11
2011-12
2011-12 Annual Report
19
University Financial Report
CONDENSED STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET ASSETS
For the years ended June 30, 2012 and 2011 (in thousands)
REVENUES
2012
2011
Tuition and fees (net of financial aid)
$167,354 $162,748
Grants and contracts
12,971 16,331
State appropriations
64,619 76,026
Federal stabilization funds (ARRA)
-
332
Gifts
4,846 4,668
Auxillary activities
35,333 33,433
Pell grants
34,627 35,346
Investment income
3,098 6,717
Department activities
7,162 7,178
Capital appropriations
10,509 20,978
Interest ARRA subsidy
1,881 1,880
Other revenue
2,457 1,968
Total revenue
$344,857 $367,605 EXPENSES
Operating expenses by natural classification
2012 2011
Salaries, wages, benefits
$230,985 $219,540
Supplies, travel, equipment
53,008 62,770
Scholarship expenses
34,275 34,125
Depreciation
14,010 15,828
Other
345 423
Total operating expenses
$332,623 $332,686
Change in value of derivative instruments
30,787 (6,706)
Write-off of library subscription
-
3,391
Interest expense
12,552 13,541
Total expenses
$375,962 $342,912
Increase/(decrease) in net asset*
(31,105)
24,694
Net assets, beginning of year
255,766 231,072
Net assets, end of year
$224,661 $255,766
20 Eastern Michigan University
Financial highlights
n Eastern
Michigan University’s
financial position remained strong
at June 30, 2012, with assets of
$572 million and liabilities of $347
million
n For
the ninth consecutive year
Eastern’s was named one of the
best colleges in the Midwest and
a “great value” according to The
Princeton Review.
n The
number of entering freshmen in the Fall of 2011 rose by 6%
over last year’s total and the class
also showed improved academic
performance.
n In
addition to attracting more
first-time enrollees, EMU increased
the number of students living on
campus. Housing contracts in the
residence halls and apartments
increased by 5.7% in Fall 2011.
n Eastern
has led the state of
Michigan’s 15 public universities in
tuition restraint the past few years.
With the June 2012 passing of a
3.95% tuition increase for the Fall
of 2012, Eastern’s tuition increases
remain the lowest in the state over
the past four years.
n The
Fall of 2011 saw Eastern reopen
its largest and busiest classroom
facility, the Pray-Harrold Building.
The $42 million project included a
new glass-encased student commons area, infrastructure and HVAC
improvements, improved technology capability, renovated auditoriums and classrooms and improved
ADA access.
*In 2012 the University received $10.5 million from a capital outlay allocation to replenish operating
funds for expenses incurred on the Pray-Harrold renovation, the first state Building Authority funding
received since 1996. The $42 million project was placed in service in September 2011 and includes
$20.98 million provided by the State in 2011.
Due to fluctuation in interest rates, the fair value of the derivative liability increased by $30.8
million in 2012, followed by a decrease of $6.7 million in 2011, and an increase of $7.1 million in 2010.
Net assets have decreased $2.2 million, increased $0.4 million and increased $1.3 million in the
General fund for the years ended June 30, 2012, 2011, 2010, respectively, before factoring in the
capital appropriation, accounting rule change, and operations in other funds:
Net Assets as of June 30 (in millions)
Increase (decrease) in net assets from operations:
General Fund
Other Funds
Derivatives fair value (increase) decrease Overall increase (decrease) in net assets 2012
2011
2010
$(2.2)
1.9 (30.8)
$(31.1)
$0.4 17.6 6.7 $24.7 $1.3
4.4
(7.1)
$(1.4)
••
••
••
••
••••
•••••
••
•• •••
•••
••
••
••
••
697
Professional/Technical
394
Clerical/Secretarial
243
Administrative
Professional
230
Food Service/Maintenance 198
•••
••
••
•••
••
••
•••
••
••
••
••
•••
•••
Full Time Lecturers
99
Athletic Coaches
48
Police
25
TOTAL
1,934
•
••••••••
••••••••
•
•
•
•
•
•
•
•• • • • • • • • • • • • • • • • • • • • • • • • •
••••
•••••
••
••
••••
••••
•
•
•
•
•••• •••••••••••••
••••
•••
• •• ••••••• ••• •••••••••••••••••• •• •• •• •• •• •• •• •• •• •• •• •• •• •• •• •
••
••
••
Faculty
••••••••
••
••••••••
••
•••
••
•••••
••
(as of October)
••••••••
••
Staffing 2012
The cost of higher education
(incoming freshmen at 30 credit hours per year)
Percent Increase 2012-13 Cost
FY13
4-year cumulative
Michigan Technological University
$13,353 3.9%
22.2%
University of Michigan-Ann Arbor
$12,994 2.8%
16.7%
Michigan State University
$12,675 3.4%
21.8%
Central Michigan University
$10,950 2.0%
12.1%
Ferris State University
$10,710 2.6%
17.8%
Western Michigan University
$10,282 3.8%
22.9%
University of Michigan-Dearborn
$10,250 3.7%
21.2%
Oakland University
$10,230 2.9%
24.7%
Wayne State University
$10,190 3.9%
23.6%
Grand Valley State University
$10,078 3.7%
21.2%
Lake Superior State University
$9,640 2.9%
20.5%
University of Michigan-Flint
$9,514 3.6%
20.7%
EASTERN MICHIGAN UNIVERSITY
$9,026
3.9%
11.4%
•
•
•
•
•
•
•
•
•••••••••••
• • • • • • • •University
Northern Michigan
$8,709 3.5%
21.3%
Saginaw Valley State University
$8,120 3.9%
23.0%
FY 12-13
General Fund Budgeted Revenues
(in Millions)
Tuition and Fees
$209.6
State Appropriations
66.5
Other
14.5
TOTAL
$290.6
2011-12 Annual Report
21
University Financials cont.
STATEMENT OF NET ASSETS
For the years ended June 30, 2012 and 2011
A S S E T S
2012
2011
Current assets:
Cash and cash equivalents $8,212,735 $4,019,621 Accounts receivable, net 18,712,762 20,353,354 Appropriation receivable
12,612,382 34,801,332 Inventories
1,218,107 949,711 Deposits and prepaid expenses
7,703,779 1,525,660 Accrued interest receivable
116,765 206,563 Total current assets
$48,576,530 $61,856,241 Noncurrent assets:
Student loans receivable, net
$11,157,010 $12,125,323 Long-term investments- unrestricted
43,341,834 52,170,484 Long-term investments- restricted
5,974,439 24,932,084 Capital assets, net 460,870,108 433,437,781 Capitalized Bond Expenses, net 2,159,099 2,241,378 Total noncurrent assets
$523,502,490 $524,907,050 Total assets
$572,079,020 $586,763,291 LIABILITIES
Current liabilities:
Current portion of long-term debt $2,965,000 $3,205,000 Accounts payable and accrued liabilities
23,694,246 30,192,717 Accrued payroll, taxes and fringe benefits
18,665,438 21,540,030 Unearned fees and deposits
7,486,339 8,955,537 Insurance and other claims payable
1,893,502 1,924,475 Total current liabilities
$54,704,525 $65,817,759 Noncurrent liabilities:
Accrued compensated absences
$4,216,476 $4,504,086 Long-term debt
231,180,000 234,145,000 Fair value of derivative instruments 46,521,031 15,734,165 Long-term unearned fees and deposits
10,796,240 10,796,240 Total noncurrent liabilities
$292,713,747 $265,179,491 Total liabilities
$347,418,272 $330,997,250 NET ASSETS
Invested in capital assets, net of related debt
$185,757,787 $205,293,222 Restricted, expendable
9,588,044 10,001,486 Unrestricted
29,314,917 40,471,333 Total net assets
$224,660,748 $255,766,041
22 Eastern Michigan University
statEMEnt OF REVEnUE, EXPEnsEs anD changEs in nEt assEts
For the years ended June 30, 2012 and 2011
OPERating REVEnUEs
Student tuition and fees
Scholarship allowances
Net student tuition and fees
Federal grants and contracts
Federal financial aid
State grants and contracts
State financial aid
Nongovernmental grants and contracts
Departmental activities
Auxiliary activities- Net
Other
Total operating revenues
OPERating EXPEnsEs
Instruction
Research
Public service
Academic support
Student services
Institutional support
Scholarships and fellowships
Operation and maintenance of plant
Auxiliary activities, net
Depreciation
Other
Total operating expenses
Operating loss
2012
2011
$205,261,228
(37,907,177)
167,354,051
7,245,487
2,274,675
292,917
658,130
2,500,058
7,161,685
35,333,355
2,296,425
$225,116,783
$199,208,625
(36,460,589)
162,748,036
9,550,088
2,669,020
452,447
428,532
3,230,617
7,178,278
33,433,115
1,691,934
$221,382,067
$125,299,662
5,032,390
11,441,475
26,543,859
30,212,938
31,350,414
34,275,204
25,891,160
28,222,868
14,010,211
344,893
$332,625,074
$(107,508,291)
$122,248,658
6,253,890
12,400,042
23,785,560
31,108,399
32,585,530
34,124,549
28,282,188
25,646,781
15,827,688
423,132
$332,686,417
$(111,304,350)
nOnOPERating REVEnUEs (EXPEnsEs)
State appropriations
Gifts
Investment income
Change in value of derivative instruments
Interest expense
Interest ARRA Subsidy
Federal stabilization fund (ARRA)
Pell grants
Write off of library subscriptions
Other
Net nonoperating revenues
before capital items
$64,619,095
3,895,174
3,098,096
(30,786,866)
(12,551,502)
1,880,893
0
34,627,248
0
160,532
$76,026,203
4,285,059
6,716,471
6,705,791
(13,540,544)
1,880,893
332,368
35,345,729
(3,391,299)
276,138
$64,942,670
$114,636,809
Capital appropriations
Capital gifts
Total net nonoperating revenues
(expenses)
$10,509,153
951,175
$20,978,386
382,940
$76,402,998
$135,998,135
Increase (Decrease) in net assets*
$(31,105,293)
$24,693,785
$255,766,041
$224,660,748
$231,072,256
$255,766,041
NET ASSETS, beginning of year
NET ASSETS, end of year
*In 2012 the University received $10.5 million from a capital outlay allocation to replenish operating funds
for expenses incurred on the Pray-Harrold renovation, the first state Building Authority funding received
since 1996. The $42 million project was placed in service in September 2011 and includes $20.98 millionprovided by the State in 2011.
Due to fluctuation in interest rates, the fair value of the derivative liability increased by $30.8 million in
2012, followed by a decrease of $6.7 million in 2011, and an increase of $7.1 million in 2010.
Net assets have decreased $2.2 million, increased $0.4 million and increased $1.3 million in the General
fund for the years ended June 30, 2012, 2011, 2010, respectively, before factoring in the capital appropriation,
accounting rule change, and operations in other funds:
Net Assets as of June 30 (in millions)
Increase (decrease) in net assets from operations:
General Fund
Other Funds
Derivatives fair value (increase) decrease
Overall increase (decrease) in net assets
2012
2011
2010
$(2.2)
1.9
(30.8)
$(31.1)
$0.4
17.6
6.7
$24.7
$1.3
4.4
(7.1)
$(1.4)
2011-12 Annual Report
23