Minnesota State
Colleges & Universities
Supplement to the Annual Financial Report
For the year ended June 30, 2013
MINNESOTA STATE
COLLEGES AND UNIVERSITIES
SUPPLEMENT TO THE
ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED JUNE 30, 2013
Prepared by:
Minnesota State Colleges and Universities
30 7th St. E., Suite 350
St. Paul, MN 55101-7804
This page intentionally left blank
MINNESOTA STATE COLLEGES AND UNIVERSITIES
SUPPLEMENT TO THE ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED JUNE 30, 2013
TABLE OF CONTENTS
Page
Supplementary Information for both System and Individual Institutions ............................................................................. 2
Fund Types ........................................................................................................................................................................... 3
Statement of Net Position by Fund Type .............................................................................................................................. 4
Statement of Revenues, Expenses, and Changes in Net Position by Fund Type .................................................................. 6
Reconciliation of Net Position to Budgetary Fund Balance — General Fund ...................................................................... 9
Reconciliation of Net Position to Budgetary Fund Balance — General Fund by Institution ............................................. 10
Statement of Net Position by Institution ............................................................................................................................. 18
Statement of Revenues, Expenses, and Changes in Net Position by Institution ................................................................. 26
Minnesota State Colleges & Universities Foundations — Statements of Financial Position ............................................. 34
Minnesota State Colleges & Universities Foundations — Statements of Activities .......................................................... 36
SUPPLEMENTARY SECTION
Components of Northeast Higher Education District (NHED) and Components of Anoka Technical College and
Community College — Reconciliation of Net Position to Budgetary Fund Balance — General Fund by Institution ....... 40
Components of Northeast Higher Education District (NHED) and Components of Anoka Technical College and
Community College — Statement of Net Position by Institution....................................................................................... 42
Components of Northeast Higher Education District (NHED) and Components of Anoka Technical College and
Community College — Statement of Revenues, Expenses, and Changes in Net Position by Institution ........................... 44
1
Supplementary Information for both System and Individual Institutions
Included in the supplementary section are both system level and individual institution reports.
The system level reports include the statement of net position and statement of revenues, expenses, and changes in
net position presented by fund type. These statements were prepared using full accrual accounting for all
institutions, with the exception of the interfund activities which were not eliminated, and the scholarship allowances
which were not applied to these statements. An adjustments column has been added to the end of the report to
eliminate interfund activities and apply scholarship allowances to enable the reader to compare the supplementary
statements to the audited statements. Since scholarship allowances are applied after the sub total and not within
each applicable fund, these statements do not conform to generally accepted accounting principles (GAAP).
The reconciliation schedule shows a GAAP to budgetary reconciliation of net position to fund balance for the
General Fund. This reconciliation begins with total net position for all funds from the statement of net position and
reconciles it to the budgetary General Fund balance by eliminating all other fund types and GAAP adjustments. The
budgetary fund balance includes state grant revenue and budgetary restrictions which are eliminated. The remaining
fund balance may be designated by the colleges and universities for board required reserves and specific programs.
Differences between budgetary and GAAP include the effect of full accrual accounting (revenue recognized when
earned and expense when incurred) vs. budgetary basis (revenue and expenses recognized when cash is received or
expended). This reconciliation does not conform to GAAP.
This schedule is followed by a GAAP to budgetary reconciliation for each institution’s General Fund utilizing the
methodology described above. This reconciliation does not conform to GAAP.
Following the GAAP to budgetary reconciliation are the statement of net position and statement of revenues,
expenses and changes in net position presented for each institution. These statements were also prepared using full
accrual accounting for all institutions with the exception of the interfund activities which were not eliminated at the
institution level. An adjustments column has been added to the end of the report to eliminate interfund activities to
enable the reader to compare the supplementary statements to the audited statements. These statements do not
conform to GAAP.
Separate statements showing the components of the Northeast Higher Education District (NHED) and components
of Anoka Technical College & Community College can be found at the back of the supplement under the
supplementary section. Anoka Technical College & Anoka Ramsey Community College were aligned in 2012.
NHED is a unique governance structure for five autonomous, yet interdependent two-year colleges in northeast
Minnesota. These colleges are Hibbing Community College, Itasca Community College, Mesabi Range Community
and Technical College, Rainy River Community College and Vermilion Community College. Each one of these
institutions is separate for accreditation purposes but all are served by one president.
2
FUND TYPES
Activities included in the fund types are as follows:
GENERAL FUND
ENTERPRISE
General operation
Bookstore
Customized training
Computer store
State grants
Food service
Capital projects
Parking
Imprest cash
REVENUE
SPECIAL REVENUE
Residence halls
Student activities
Parking
Health services
Student union
Intercollegiate activities
Wellness centers
Child care
AGENCY
Federal grants
Custodial accounts
Federal financial aid
Temporary accounts
State financial aid
Private gifts and grants
Miscellaneous special revenues
Private scholarships
Endowments
3
MINNESOTA STATE COLLEGES AND UNIVERSITIES
STATEMENT OF NET POSITION BY FUND TYPE (UNAUDITED)
AS OF JUNE 30, 2013
(IN THOUSANDS)
General
Assets
Current Assets
Cash and cash equivalents
Investments
Grants receivable
Accounts receivable, net
Prepaid expense
Inventory
Student loans, net
Other assets
Due from other funds
Total current assets
$
Restricted assets
Noncurrent Assets
Student loans, net
Capital assets, net
Total noncurrent assets
Total Assets
Liabilities
Current Liabilities
Salaries and benefits payable
Accounts payable
Unearned revenue
Payable from restricted assets
Interest payable
Funds held for others
Current portion of long-term debt
Other compensation benefits
Other liabilities
Payable to other funds
Total current liabilities
Noncurrent Liabilities
Noncurrent portion of long-term debt
Other compensation benefits
Capital contributions payable
Total noncurrent liabilities
Total Liabilities
Net Position
Net investment in capital assets
Restricted expendable, bond covenants
Restricted expendable, other
Unrestricted
Total Net Position
$
4
688,213 $
3,249
40,139
28,450
1,056
78
4,766
765,951
Special Revenue
25,525 $
3,645
19,721
4,571
13
250
53,725
Enterprise
57,660
22,158
8,972
13,581
3,840
1,173
107,384
2,808
-
293
1,551,739
1,551,739
2,320,498
7,709
7,709
61,434
26,130
45,427
71,557
179,234
104,487
28,252
24,124
20,755
20,143
19,146
73
216,980
2,786
12,032
11,159
24
574
408
2,716
29,699
554
3,043
1,192
88
3,374
243
233
3,008
11,735
235,467
146,003
381,470
598,450
5,131
5,131
34,830
19,652
1,742
29,662
51,056
62,791
1,283,290
34,816
403,942
2,004
3,324
21,276
22,402
354
3,881
89,806
1,722,048 $
26,604 $
116,443
Revenue
$
$
78,934 $
2,705
199
81,838
Agency
Sub Total
6,611 $
362
4,698
62
523
1,160
13,416
856,943 $
26,165
22,970
61,085
28,512
14,650
3,840
2,223
5,926
1,022,314
Eliminations &
Reclassifications
GAAP Total
- $
(5,926)
(5,926)
139,858
-
142,959
334,980
334,980
556,676
13,416
26,130
1,939,855
1,965,985
3,131,258
(5,926)
26,130
1,939,855
1,965,985
3,125,332
889
2,061
2,613
3,959
3,236
12,799
265
178
202
26,202
373
2,519
1,443
9,046
35
13,416
109,089
47,907
40,531
24,714
3,236
9,158
36,890
19,654
927
5,926
298,032
(5,926)
(5,926)
109,089
47,907
40,531
24,714
3,236
9,158
36,890
19,654
927
292,106
310,933
1,958
312,891
339,093
13,416
571,183
149,703
29,662
750,548
1,048,580
(5,926)
571,183
149,703
29,662
750,548
1,042,654
121,093
70,498
25,992
-
-
1,428,789
70,852
68,013
515,024
-
1,428,789
70,852
68,013
515,024
217,583 $
- $
2,082,678 $
- $
2,082,678
5
-
856,943
26,165
22,970
61,085
28,512
14,650
3,840
2,223
1,016,388
142,959
MINNESOTA STATE COLLEGES AND UNIVERSITIES
STATEMENT OF REVENUES, EXPENSES, AND
CHANGES IN NET POSITION BY FUND TYPE (UNAUDITED)
FOR THE YEAR ENDED JUNE 30, 2013
(IN THOUSANDS)
General
Operating Revenues
Tuition
Fees
Sales and room and board
Restricted student payments
Other income
Total operating revenues
$
Operating Expenses
Salaries and benefits
Purchased services
Supplies
Repairs and maintenance
Depreciation
Financial aid
Other expense
Total operating expenses
864,864 $
48,879
15,011
8,836
937,590
1,140,162
152,261
68,762
24,903
86,803
9,132
22,545
1,504,568
Operating income (loss)
Nonoperating Revenues (Expenses)
Appropriations
Federal grants
State grants
Private grants
Interest income
Interest expense
Grants to other organizations
Total nonoperating revenues (expenses)
Income (Loss) Before Other Revenues, Expenses, Gains, or Losses
Capital appropriations
Capital grants
Donated assets and supplies
Transfers in
Transfers out
Gain (loss) on disposal of capital assets
Change in net position
Total Net Position, Beginning of Year
Total Net Position, End of Year
$
6
Special
Revenue
- $
34,798
17,432
2,104
54,334
67,847
21,399
12,359
1,872
317
394,219
14,092
512,105
Enterprise
6,580
104,967
430
2,421
114,398
18,276
14,294
59,982
2,634
4,574
1,410
6,928
108,098
(566,978)
(457,771)
6,300
553,246
11,791
2,247
4,328
(11,516)
(2,906)
557,190
367,862
79,874
16,943
356
(208)
(9,030)
455,797
(9,788)
(1,974)
6,910
88,497
12
4,272
(5,863)
246
77,376
12
266
1,012
10
(674)
1,474
49
8,433
619
496
(437)
(68)
610
1,644,672
27,278
108,010
1,722,048 $
26,604 $
116,443
Revenue
$
$
- $
106,525
909
107,434
Eliminations &
Reclassifications
Sub Total
864,864 $
90,257
137,410
106,955
14,270
1,213,756
(322,665) $
(21,888)
(15,531)
(2,249)
(46)
(362,379)
25,350
38,275
4,476
4,199
16,196
6,129
94,625
1,251,635
226,229
145,579
33,608
107,890
404,761
49,694
2,219,396
(1,173)
(22)
(360,979)
(205)
(362,379)
12,809
(1,005,640)
674
(10,615)
(9,941)
553,246
367,862
91,665
19,809
5,854
(22,776)
(12,004)
1,003,656
2,868
(1,984)
3,377
(312)
5,933
88,497
24
4,538
5,863
(5,863)
(7)
91,068
(18)
18
(5,863)
5,863
-
GAAP Total
542,199
68,369
121,879
104,706
14,224
851,377
1,251,635
225,056
145,557
33,608
107,890
43,782
49,489
1,857,017
(1,005,640)
553,246
367,862
91,665
19,809
5,836
(22,758)
(12,004)
1,003,656
(1,984)
88,497
24
4,538
(7)
91,068
211,650
1,991,610
-
1,991,610
217,583 $
2,082,678 $
- $
2,082,678
7
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8
MINNESOTA STATE COLLEGES AND UNIVERSITIES
RECONCILIATION OF NET POSITION TO BUDGETARY FUND BALANCE
GENERAL FUND (UNAUDITED)
AS OF JUNE 30, 2013
(IN THOUSANDS)
Total Net Position
Less Restricted Net Position
Net investment in capital assets
Restricted net position
Total unrestricted net position
$
2,082,678
(1,428,789)
(138,865)
515,024
Less Non-General Fund Unrestricted Net Position
Enterprise Fund
Special Revenue Fund
General Fund - unrestricted net position
(89,806)
(21,276)
403,942
GAAP Accruals Not Recognized in Budget
Other compensation benefits
Other accruals, net
165,149
(58,881)
General Fund - unrestricted budgetary fund balance
Less Budgetary Designations
External programs
Prior year encumbrances
Board required reserve
Designated for programs
Planned for fiscal year 2014 budget
Planned for fiscal year 2015 budget
Undesignated Budgetary Fund Balance
510,210
$
9
(917)
(27,657)
(109,565)
(309,019)
(19,779)
(14,033)
29,240
MINNESOTA STATE COLLEGES AND UNIVERSITIES
RECONCILIATION OF NET POSITION TO BUDGETARY FUND BALANCE
GENERAL FUND BY INSTITUTION (UNAUDITED)
AS OF JUNE 30, 2013
(IN THOUSANDS)
Alexandria
Anoka Technical
Technical &
College &
Bemidji
Community
Community
State
College
College
University
$
26,802 $
87,131 $
74,640
Total Net Position
Less Restricted Net Position
Net investment in capital assets
Restricted net position
Total unrestricted net position
(20,711)
(715)
5,376
(58,841)
(2,742)
25,548
(46,522)
(7,227)
20,891
Less Non-General Fund Unrestricted Net Position
Enterprise Fund
Special Revenue Fund
General Fund - unrestricted net position
(206)
(203)
4,967
(7,404)
(611)
17,533
(1,490)
(1,374)
18,027
GAAP Accruals Not Recognized in Budget
Other compensation benefits
Other accruals, net
General Fund - unrestricted budgetary fund balance
2,827
(593)
7,201
5,604
(3,060)
20,077
6,004
(1,938)
22,093
Less Budgetary Designations
External programs
Prior year encumbrances
Board required reserve
Designated for programs
Planned for fiscal year 2014 budget
Planned for fiscal year 2015 budget
Undesignated budgetary fund balance
$
10
(122)
(1,627)
(4,996)
(400)
(56)
- $
(12)
(279)
(4,515)
(10,764)
4,507 $
(345)
(4,400)
(15,532)
(1,216)
(600)
-
$
$
Central
Lakes
College
32,776 $
Century
College
57,962 $
Dakota
County
Technical
College
37,040 $
(26,431)
(689)
5,656
(41,824)
(1,940)
14,198
(27,104)
(337)
9,599
(19,245)
(482)
5,134
(36,464)
(815)
7,488
(28,428)
(840)
15,205
(36,669)
(803)
9,011
(1,407)
(112)
4,137
(4,051)
(468)
9,679
(1,025)
(364)
8,210
(786)
(102)
4,246
(2,542)
(267)
4,679
(2,892)
(509)
11,804
(690)
(742)
7,579
3,438
365
7,940
7,081
(3,561)
13,199
2,475
(427)
10,258
1,179
(724)
4,701
4,544
(960)
8,263
3,073
(1,369)
13,508
3,517
(1,021)
10,075
(189)
(459)
(4,000)
(8,551)
- $
(170)
(1,804)
(8,284)
- $
(19)
(45)
(1,920)
(5,956)
- $
Fond du Lac
Tribal &
Community
College
24,861 $
(800)
(2,323)
(778)
(800)
- $
Hennepin
Technical
College
44,767 $
(580)
(2,808)
(4,875)
- $
Inver Hills
Community
College
44,473 $
(224)
(2,096)
(11,188)
- $
Lake
Superior
College
46,483
(2,222)
(2,050)
5,803
Continued…
11
MINNESOTA STATE COLLEGES AND UNIVERSITIES
RECONCILIATION OF NET POSITION TO BUDGETARY FUND BALANCE
GENERAL FUND BY INSTITUTION (UNAUDITED)
AS OF JUNE 30, 2013
(IN THOUSANDS)
Minneapolis
Minnesota
Metropolitan
Community &
State CollegeState
Technical
Southeast
University
College
Technical
$
59,747 $
100,384 $
16,360
Total Net Position
Less Restricted Net Position
Net investment in capital assets
Restricted net position
Total unrestricted net position
(33,564)
(1,998)
24,185
(79,235)
(5,411)
15,738
(13,480)
(349)
2,531
Less Non-General Fund Unrestricted Net Position
Enterprise Fund
Special Revenue Fund
General Fund - unrestricted net position
(581)
(1,748)
21,856
(2,058)
(632)
13,048
(1,376)
(130)
1,025
GAAP Accruals Not Recognized in Budget
Other compensation benefits
Other accruals, net
General Fund - unrestricted budgetary fund balance
5,864
(5,375)
22,345
6,593
(3,226)
16,415
2,012
(835)
2,202
Less Budgetary Designations
External programs
Prior year encumbrances
Board required reserve
Designated for programs
Planned for fiscal year 2014 budget
Planned for fiscal year 2015 budget
Undesignated budgetary fund balance
$
12
(208)
(4,626)
(15,696)
(1,315)
(500)
- $
(250)
(3,773)
(12,392)
- $
(1,400)
(800)
(2)
-
Minnesota
Minnesota State
Minnesota
Minnesota
West
North
Northland
Community &
State
State
Community &
Normandale
Hennepin
Community &
Technical
University,
University
Technical
Community
Community
Technical
College
Mankato
Moorhead
College
College
College
College
$
43,303 $
210,086 $
112,208 $
22,339 $
82,007 $
68,353 $
37,099
$
(33,403)
(1,078)
8,822
(146,475)
(18,376)
45,235
(75,396)
(22,448)
14,364
(14,696)
(313)
7,330
(48,184)
(6,508)
27,315
(41,514)
(1,289)
25,550
(27,496)
(554)
9,049
(1,559)
(595)
6,668
(4,873)
(3,809)
36,553
(3,357)
(1,207)
9,800
(1,622)
(326)
5,382
(3,180)
(862)
23,273
(6,945)
(570)
18,035
(1,767)
(276)
7,006
4,822
(1,726)
9,764
15,680
(7,277)
44,956
8,796
(1,956)
16,640
3,089
(565)
7,906
5,457
(1,911)
26,819
4,030
(1,699)
20,366
2,932
(915)
9,023
(609)
(66)
(3,203)
(4,208)
1,678 $
(2,924)
(10,525)
(31,507)
- $
(5,218)
(9,195)
(2,227)
- $
(12)
(1,731)
(2,495)
(1,789)
(1,879)
- $
(1,438)
(3,895)
(20,508)
(978)
- $
(2,716)
(15,816)
(326)
(1,508)
- $
(87)
(1,834)
(5,602)
(500)
(1,000)
Continued…
13
MINNESOTA STATE COLLEGES AND UNIVERSITIES
RECONCILIATION OF NET POSITION TO BUDGETARY FUND BALANCE
GENERAL FUND BY INSTITUTION (UNAUDITED)
AS OF JUNE 30, 2013
(IN THOUSANDS)
Pine
Technical
College
$
8,236 $
Total Net Position
Less Restricted Net Position
Net investment in capital assets
Restricted net position
Total unrestricted net position
Less Non-General Fund Unrestricted Net Position
Enterprise Fund
Special Revenue Fund
General Fund - unrestricted net position
GAAP Accruals Not Recognized in Budget
Other compensation benefits
Other accruals, net
General Fund - unrestricted budgetary fund balance
Less Budgetary Designations
External programs
Prior year encumbrances
Board required reserve
Designated for programs
Planned for fiscal year 2014 budget
Planned for fiscal year 2015 budget
Undesignated budgetary fund balance
$
14
Riverland
Ridgewater
Community
College
College
35,898 $
24,764
(7,186)
(112)
938
(21,341)
(394)
14,163
(20,106)
(387)
4,271
(509)
(56)
373
(3,765)
(271)
10,127
(1,057)
(160)
3,054
1,036
(222)
1,187
4,062
(916)
13,273
2,809
(945)
4,918
(456)
(731)
- $
(2,297)
(9,976)
(500)
(500)
- $
(198)
(1,227)
(2,493)
(500)
(500)
-
Rochester
Community &
Technical
College
$
72,422 $
$
South
Central
College
20,379 $
Southwest
Minnesota
State
University
66,756 $
(57,284)
(739)
14,399
(12,528)
(184)
7,667
(56,558)
(1,758)
8,440
(158,881)
(29,218)
28,252
(33,614)
(897)
18,916
(34,409)
(1,758)
18,532
(117,904)
(20,792)
36,901
(4,869)
(368)
9,162
(655)
(778)
6,234
(988)
(383)
7,069
(4,944)
(2,357)
20,951
(3,458)
(225)
15,233
(2,002)
(624)
15,906
(10,998)
(760)
25,143
4,189
(975)
12,376
3,336
(631)
8,939
4,675
(515)
11,229
17,572
(5,546)
32,977
2,949
(960)
17,222
3,230
(3,047)
16,089
9,705
(2,735)
32,113
(488)
(3,228)
(5,961)
(2,699)
- $
(1,785)
(3,975)
(959)
(2,220)
- $
(76)
(173)
(2,200)
(5,709)
(3,071)
- $
St. Cloud
St. Cloud
Technical &
State
Community
University
College
216,351 $
53,427 $
(4,469)
(10,500)
(18,008)
- $
(77)
(2,148)
(14,297)
(350)
(350)
- $
Winona
Saint Paul
State
College
University
54,699 $
175,597
(316)
(2,653)
(12,151)
(969)
- $
(713)
(5,000)
(25,200)
(1,200)
Continued…
15
MINNESOTA STATE COLLEGES AND UNIVERSITIES
RECONCILIATION OF NET POSITION TO BUDGETARY FUND BALANCE
GENERAL FUND BY INSTITUTION (UNAUDITED)
AS OF JUNE 30, 2013
(IN THOUSANDS)
Total Net Position
Less Restricted Net Position
Net investment in capital assets
Restricted net position
Total unrestricted net position
$
Northeast
Higher
Education
District
57,994 $
System
Office
26,839 $
System-wide
Activity
40,495
(43,987)
(2,390)
11,617
(8,498)
(235)
18,106
(811)
(5,087)
34,597
Less Non-General Fund Unrestricted Net Position
Enterprise Fund
Special Revenue Fund
General Fund - unrestricted net position
(4,090)
(473)
7,054
18,106
(2,660)
86
32,023
GAAP Accruals Not Recognized in Budget
Other compensation benefits
Other accruals, net
General Fund - unrestricted budgetary fund balance
6,416
86
13,556
4,380
(3,373)
19,113
1,773
(329)
33,467
Less Budgetary Designations
External programs
Prior year encumbrances
Board required reserve
Designated for programs
Planned for fiscal year 2014 budget
Planned for fiscal year 2015 budget
Undesignated budgetary fund balance
(356)
(3,441)
(7,808)
(1,501)
(450)
- $
$
16
(11,574)
(3,439)
(1,369)
2,731 $
(2,096)
(9,517)
(7,333)
14,521
$
$
Sub Total
2,082,678 $
Eliminations &
Reclassifications
GAAP Total
- $
2,082,678
(1,428,789)
(138,865)
515,024
-
(1,428,789)
(138,865)
515,024
(89,806)
(21,276)
403,942
-
(89,806)
(21,276)
403,942
165,149
(58,881)
510,210
-
165,149
(58,881)
510,210
(917)
(27,657)
(109,565)
(309,019)
(19,779)
(14,033)
29,240 $
- $
(917)
(27,657)
(109,565)
(309,019)
(19,779)
(14,033)
29,240
Concluded
17
MINNESOTA STATE COLLEGES AND UNIVERSITIES
STATEMENT OF NET POSITION BY INSTITUTION (UNAUDITED)
AS OF JUNE 30, 2013
(IN THOUSANDS)
Alexandria
Technical &
Community
College
Assets
Current Assets
Cash and cash equivalents
Investments
Grants receivable
Accounts receivable, net
Prepaid expense
Inventory
Student loans, net
Other assets
Advances from other schools
Total current assets
$
10,752 $
102
497
534
63
47
11,995
Total restricted assets
Noncurrent Assets
Student loans, net
Capital assets, net
Advances from other schools
Total noncurrent assets
Total Assets
Liabilities
Current Liabilities
Salaries and benefits payable
Accounts payable
Unearned revenue
Payable from restricted assets
Interest Payable
Funds held for others
Current portion of long-term debt
Other compensation benefits
Other liabilities
Advances to other schools
Total current liabilities
Noncurrent Liabilities
Advances to other schools
Noncurrent portion of long-term debt
Other compensation benefits
Capital contributions payable
Total noncurrent liabilities
Total Liabilities
Net Position
Net investment in capital assets
Restricted expendable, bond covenants
Restricted expendable, other
Unrestricted
Total Net Position
$
18
Anoka Technical
College &
Community
College
33,924 $
749
3,630
1,200
1,300
42
95
1
40,941
Bemidji
State
University
35,790
291
586
2,553
983
237
534
46
41,020
127
1,030
2,904
26,320
26,320
313
74,305
74,618
4,295
69,275
73,570
38,442
116,589
117,494
1,455
841
586
158
5
51
423
383
5
3,907
4,072
1,152
1,288
196
62
589
1,128
658
25
25
9,195
4,460
1,552
1,289
240
163
266
1,517
772
10,259
5,243
2,490
7,733
14,848
5,020
395
20,263
22,648
5,485
4,462
32,595
11,640
29,458
42,854
20,711
109
606
5,376
58,841
502
2,240
25,548
46,522
3,555
3,672
20,891
26,802 $
87,131 $
74,640
Central
Lakes
College
$
$
Century
College
11,285 $
1,000
1,764
594
574
2
43
15,262
Dakota
County
Technical
College
Fond du Lac
Tribal &
Community
College
Hennepin
Technical
College
Inver Hills
Community
College
13,982 $
566
2,651
786
516
71
11
18,583
Lake
Superior
College
22,359 $
283
259
5,286
1,107
1,393
32
30,719
13,891 $
599
3,228
231
161
25
33
18,168
5,915 $
550
1,402
401
59
28
8,355
19,076 $
1,456
173
1,465
769
453
3
23,395
13,820
106
1,709
818
628
82
17,163
-
850
65
174
-
-
6
19
29,748
29,767
55,846
55,846
30,323
30,323
23,028
23,028
45,589
45,589
35,589
35,589
44,086
44,086
45,029
87,415
48,556
31,557
64,172
58,984
61,255
2,001
1,373
568
74
614
410
5,040
4,212
1,571
1,041
1,023
27
29
1,150
742
10
9,805
1,689
665
530
2,149
144
276
251
20
5,724
770
223
415
174
56
296
135
(2)
2,067
2,880
1,261
806
684
30
492
590
21
6,764
2,280
697
1,134
15
72
545
387
2
5,132
2,040
1,052
448
20
130
626
401
21
4,738
4,116
3,072
25
7,213
13,207
6,441
19,648
389
3,137
2,266
5,792
49
3,526
1,054
4,629
8,633
4,008
12,641
6,616
2,763
9,379
6,858
3,176
10,034
12,253
29,453
11,516
6,696
19,405
14,511
14,772
26,431
689
5,656
41,824
398
1,542
14,198
27,104
337
9,599
19,245
482
5,134
36,464
815
7,488
28,428
840
15,205
36,669
803
9,011
32,776 $
57,962 $
37,040 $
24,861 $
44,767 $
44,473 $
46,483
Continued…
19
MINNESOTA STATE COLLEGES AND UNIVERSITIES
STATEMENT OF NET POSITION BY INSTITUTION (UNAUDITED)
AS OF JUNE 30, 2013
(IN THOUSANDS)
Metropolitan
State
University
Assets
Current Assets
Cash and cash equivalents
Investments
Grants receivable
Accounts receivable, net
Prepaid expense
Inventory
Student loans, net
Other assets
Advances from other schools
Total current assets
$
36,139 $
867
2,377
1,022
8
40,413
Total restricted assets
Noncurrent Assets
Student loans, net
Capital assets, net
Advances from other schools
Total noncurrent assets
Total Assets
Liabilities
Current Liabilities
Salaries and benefits payable
Accounts payable
Unearned revenue
Payable from restricted assets
Interest payable
Funds held for others
Current portion of long-term debt
Other compensation benefits
Other liabilities
Advances to other schools
Total current liabilities
Noncurrent Liabilities
Advances to other schools
Noncurrent portion of long-term debt
Other compensation benefits
Capital contributions payable
Total noncurrent liabilities
Total Liabilities
Net Position
Net investment in capital assets
Restricted expendable, bond covenants
Restricted expendable, other
Unrestricted
Total Net Position
$
26,205 $
630
364
5,586
1,422
291
73
105
34,676
Minnesota State
College Southeast
Technical
5,109
514
712
317
433
7,085
34,271
2,825
-
41,135
41,135
106,882
106,882
16,243
16,243
115,819
144,383
23,328
4,004
1,417
2,457
151
333
102
736
541
31
9,772
3,691
826
1,360
1,865
131
28
1,784
693
10,378
1,502
456
229
227
218
2,632
40,978
5,322
46,300
27,642
5,979
33,621
2,535
1,801
4,336
56,072
43,999
6,968
33,564
316
1,682
24,185
79,235
3,268
2,143
15,738
13,480
349
2,531
59,747 $
20
Minneapolis
Community &
Technical
College
100,384 $
16,360
Minnesota State
Community &
Technical
College
$
$
15,550 $
273
2,341
765
1,045
20
43
20,037
Minnesota
State
University,
Mankato
83,240 $
5,444
878
4,412
2,205
89
935
234
97,437
Minnesota
State
University
Moorhead
46,693 $
3,095
293
3,848
1,691
599
677
140
57,036
Minnesota West
Community &
Technical
College
11,598 $
200
247
1,427
272
541
7
17
14,309
Normandale
Community
College
38,389 $
1,453
224
2,075
1,678
1,094
275
45,188
North
Hennepin
Community
College
27,777 $
3,855
270
3,557
1,061
312
111
79
37,022
Northland
Community &
Technical
College
13,069
560
1,293
536
240
16
2
15,716
324
14,797
9,524
368
5,000
38
123
141
42,550
42,691
5,345
234,976
240,321
5,242
112,002
117,244
110
18,384
18,494
87,929
87,929
1,154
52,363
53,517
101
32,264
32,365
63,052
352,555
183,804
33,171
138,117
90,577
48,204
3,136
1,202
768
76
16
161
723
503
13
6,598
11,955
3,903
4,454
1,615
806
394
4,382
1,918
7
29,434
6,153
1,462
2,089
1,925
252
772
2,448
1,333
82
110
16,626
1,652
453
599
1,027
76
237
435
21
4,500
3,738
1,203
2,497
26
260
94
2,212
629
72
57
10,788
2,363
555
1,248
1,710
83
855
468
1
21
7,304
1,774
827
287
291
95
391
456
3
4,124
8,575
4,385
191
13,151
92,297
14,598
6,140
113,035
41,639
7,777
5,554
54,970
3,451
2,697
184
6,332
40,401
4,921
45,322
9,993
3,592
1,335
14,920
4,377
2,486
118
6,981
19,749
142,469
71,596
10,832
56,110
22,224
11,105
33,403
178
900
8,822
146,475
8,078
10,298
45,235
75,396
17,698
4,750
14,364
14,696
313
7,330
48,184
2,810
3,698
27,315
41,514
1,289
25,550
27,496
554
9,049
43,303 $
210,086 $
22,339 $
82,007 $
68,353 $
37,099
112,208 $
Continued…
21
MINNESOTA STATE COLLEGES AND UNIVERSITIES
STATEMENT OF NET POSITION BY INSTITUTION (UNAUDITED)
AS OF JUNE 30, 2013
(IN THOUSANDS)
Pine
Technical
College
Assets
Current Assets
Cash and cash equivalents
Investments
Grants receivable
Accounts receivable, net
Prepaid expense
Inventory
Student loans, net
Other assets
Advances from other schools
Total current assets
$
2,134 $
1,472
358
98
105
9
4,176
Total restricted assets
Noncurrent Assets
Student loans, net
Capital assets, net
Advances from other schools
Total noncurrent assets
Total Assets
Liabilities
Current Liabilities
Salaries and benefits payable
Accounts payable
Unearned revenue
Payable from restricted assets
Interest payable
Funds held for others
Current portion of long-term debt
Other compensation benefits
Other liabilities
Advances to other schools
Total current liabilities
Noncurrent Liabilities
Advances to other schools
Noncurrent portion of long-term debt
Other compensation benefits
Capital contributions payable
Total noncurrent liabilities
Total Liabilities
Net Position
Net investment in capital assets
Restricted expendable, bond covenants
Restricted expendable, other
Unrestricted
Total Net Position
$
22
Riverland
Community
College
Ridgewater
College
20,325 $
89
1,697
383
531
8
20
23,053
7,482
369
1,326
351
473
14
25
10,040
18
5
2
8,142
8,142
59
25,352
25,411
142
22,889
23,031
12,336
48,469
33,073
730
738
343
81
71
94
11
2,068
2,249
642
626
660
151
310
505
7
5,150
1,635
405
353
2
123
262
271
5
3,056
200
884
948
2,032
3,702
3,610
109
7,421
2,521
2,572
160
5,253
4,100
12,571
8,309
7,186
112
938
21,341
394
14,163
20,106
387
4,271
8,236 $
35,898 $
24,764
Rochester
Community &
Technical
College
$
$
South
Central
College
Southwest
Minnesota
State
University
17,708 $
425
123
1,116
595
173
21
20,161
St. Cloud
State
University
80,927 $
2,427
920
7,465
2,883
148
850
363
240
96,223
St. Cloud
Technical &
Community
College
23,663 $
164
1,463
846
403
19
26,558
Saint Paul
College
23,082 $
247
243
2,861
920
353
25
27,731
Winona
State
University
19,938 $
704
649
3,136
563
410
51
32
25,483
12,796 $
241
2,638
177
274
16
16,142
68,508
5,628
296
2,315
1,847
1,175
306
187
80,262
25
599
3,037
52,947
28
2,063
9,545
114
61,988
62,102
15,533
15,533
843
74,409
75,252
5,332
225,347
230,679
42,627
42,627
53,193
53,193
2,079
168,281
170,360
87,610
32,274
98,450
379,849
69,213
82,987
260,167
3,006
953
1,389
250
324
522
483
5
6,932
2,230
633
529
2,115
184
378
5
6,074
2,831
812
588
13
155
96
1,627
551
35
9
6,717
12,481
5,505
5,396
6,710
471
859
7,707
2,153
555
41,837
2,156
450
596
461
82
622
331
1
21
4,720
2,167
1,055
1,014
121
119
95
1,076
345
1
5,993
7,238
4,024
2,839
522
427
561
3,420
1,294
20,325
4,182
3,763
311
8,256
2,821
3,000
5,821
215
19,470
4,285
1,007
24,977
99,702
16,090
5,869
121,661
8,391
2,675
11,066
19,350
2,945
22,295
52,580
9,016
2,649
64,245
15,188
11,895
31,694
163,498
15,786
28,288
84,570
57,284
739
14,399
12,528
184
7,667
56,558
228
1,530
8,440
158,881
14,482
14,736
28,252
33,614
897
18,916
34,409
449
1,309
18,532
117,904
14,173
6,619
36,901
72,422 $
20,379 $
66,756 $
216,351 $
53,427 $
54,699 $
175,597
Continued…
23
MINNESOTA STATE COLLEGES AND UNIVERSITIES
STATEMENT OF NET POSITION BY INSTITUTION (UNAUDITED)
AS OF JUNE 30, 2013
(IN THOUSANDS)
Northeast
Higher
Education
District
Assets
Current Assets
Cash and cash equivalents
Investments
Grants receivable
Accounts receivable, net
Prepaid expense
Inventory
Student loans, net
Other assets
Advances from other schools
Total current assets
$
23,287 $
27
1,017
2,674
850
625
94
172
28,746
Total restricted assets
Noncurrent Assets
Student loans, net
Capital assets, net
Advances from other schools
Total noncurrent assets
Total Assets
Liabilities
Current Liabilities
Salaries and benefits payable
Accounts payable
Unearned revenue
Payable from restricted assets
Interest payable
Funds held for others
Current portion of long-term debt
Other compensation benefits
Other liabilities
Advances to other schools
Total current liabilities
Noncurrent Liabilities
Advances to other schools
Noncurrent portion of long-term debt
Other compensation benefits
Capital contributions payable
Total noncurrent liabilities
Total Liabilities
Net Position
Net investment in capital assets
Restricted expendable, bond covenants
Restricted expendable, other
Unrestricted
Total Net Position
$
24
System
Office
System-wide
Activity
27,799 $
16
565
28,380
44,731
8,191
1,165
607
125
60
54,879
323
-
1,941
841
53,948
54,789
8,498
49
8,547
811
1,762
2,573
83,858
36,927
59,393
3,556
1,162
1,693
434
269
776
735
70
87
8,782
1,676
3,227
424
381
398
6,106
1,307
10,141
648
9
2,971
193
29
15,298
958
9,184
5,787
1,153
17,082
3,982
3,982
1,903
1,697
3,600
25,864
10,088
18,898
43,987
354
2,036
11,617
8,498
235
18,106
811
4,254
833
34,597
57,994 $
26,839 $
40,495
Sub Total
$
856,943 $
26,165
22,970
80,592
28,512
14,650
3,840
2,223
459
1,036,354
142,959
$
Eliminations &
Reclassifications
GAAP Total
- $
(19,507)
(459)
(19,966)
-
856,943
26,165
22,970
61,085
28,512
14,650
3,840
2,223
1,016,388
142,959
26,130
1,939,855
1,811
1,967,796
(1,811)
(1,811)
26,130
1,939,855
1,965,985
3,147,109
(21,777)
3,125,332
109,089
52,438
40,531
24,714
3,236
9,158
37,639
19,654
927
459
297,845
(4,531)
(749)
(459)
(5,739)
109,089
47,907
40,531
24,714
3,236
9,158
36,890
19,654
927
292,106
1,811
585,410
149,703
29,662
766,586
(1,811)
(14,227)
(16,038)
571,183
149,703
29,662
750,548
1,064,431
(21,777)
1,042,654
1,428,789
70,852
68,013
515,024
-
1,428,789
70,852
68,013
515,024
2,082,678 $
- $
2,082,678
Concluded
25
MINNESOTA STATE COLLEGES AND UNIVERSITIES
STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION BY INSTITUTION (UNAUDITED)
FOR THE YEAR ENDED JUNE 30, 2013
(IN THOUSANDS)
Alexandria
Technical &
Community
College
Operating Revenues
Tuition, net
Fees, net
Sales and room and board, net
Restricted student payments, net
Other income
Total operating revenues
$
Operating Expenses
Salaries and benefits
Purchased services
Supplies
Repairs and maintenance
Depreciation
Financial aid, net
Other expense
Total operating expenses
Operating loss
Nonoperating Revenues (Expenses)
Appropriations
Federal grants
State grants
Private grants
Interest income
Interest expense
Grants to other organizations
Total nonoperating revenues (expenses)
Income (Loss) Before Other Revenues, Expenses, Gains, or Losses
Capital appropriations
Capital grants
Donated assets and supplies
Gain (loss) on disposal of capital assets
Change in net position
Total Net Position, Beginning of Year
Total Net Position, End of Year
$
26
7,248 $
1,246
1,212
111
89
9,906
Anoka Technical
College &
Community
College
22,592 $
3,061
4,823
752
136
31,364
Bemidji
State
University
22,440
2,659
2,574
9,619
555
37,847
16,774
2,104
2,304
880
1,516
605
902
25,085
(15,179)
46,662
6,468
7,112
1,019
3,420
2,101
4,365
71,147
(39,783)
49,021
11,110
4,089
1,543
5,257
1,757
4,602
77,379
(39,532)
9,637
4,167
1,557
53
82
(245)
23
15,274
23,510
17,542
3,455
15
189
(629)
44,082
20,357
12,625
4,937
1,861
220
(1,046)
38,954
95
4,299
(578)
737
198
(60)
970
2,195
1
(1)
6,494
964
(1)
385
25,832
26,802 $
80,637
87,131 $
74,255
74,640
Central
Lakes College
$
$
7,773 $
1,366
2,128
244
11,511
Century
College
22,494 $
2,202
3,954
789
414
29,853
Dakota
County
Technical
College
8,495 $
1,286
2,161
30
11,972
Fond du Lac
Tribal &
Community
College
2,403 $
294
675
212
3,584
Hennepin
Technical
College
13,095 $
1,506
2,357
207
17,165
Inver Hills
Community
College
12,949 $
1,618
2,298
244
17,109
Lake
Superior
College
11,039
3,018
1,945
251
16,253
22,606
2,706
4,015
764
2,075
657
1,918
34,741
(23,230)
53,565
5,432
7,055
907
3,149
2,620
3,296
76,024
(46,171)
20,286
4,327
3,393
452
1,604
769
1,672
32,503
(20,531)
8,440
1,645
1,115
77
1,001
669
792
13,739
(10,155)
35,916
4,844
5,054
858
2,452
1,579
2,368
53,071
(35,906)
26,797
2,712
3,818
579
1,666
1,158
1,634
38,364
(21,255)
24,277
3,723
3,452
961
2,250
819
1,878
37,360
(21,107)
11,783
9,476
2,134
216
86
(230)
23,465
20,237
21,523
3,187
247
152
(591)
44,755
9,256
6,946
2,061
552
67
(111)
18,771
4,415
5,176
825
120
39
(189)
10,386
17,408
14,137
1,911
165
51
(346)
33,326
11,089
8,306
1,728
262
81
(347)
21,119
12,452
8,950
1,190
49
120
(348)
(90)
22,323
235
(1,416)
(1,760)
231
(2,580)
(136)
1,216
167
246
82
730
2,296
92
6
978
2,851
180
(16)
1,255
182
(1)
412
3,378
110
(4)
904
741
(9)
596
939
(17)
2,138
35,785
37,040 $
24,449
24,861 $
43,863
44,767 $
43,877
44,473 $
32,046
32,776 $
56,984
57,962 $
44,345
46,483
Continued…
27
MINNESOTA STATE COLLEGES AND UNIVERSITIES
STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION BY INSTITUTION (UNAUDITED)
FOR THE YEAR ENDED JUNE 30, 2013
(IN THOUSANDS)
Metropolitan
State
University
Operating Revenues
Tuition, net
Fees, net
Sales and room and board, net
Restricted student payments, net
Other income
Total operating revenues
$
Operating Expenses
Salaries and benefits
Purchased services
Supplies
Repairs and maintenance
Depreciation
Financial aid, net
Other expense
Total operating expenses
Operating loss
Nonoperating Revenues (Expenses)
Appropriations
Federal grants
State grants
Private grants
Interest income
Interest expense
Grants to other organizations
Total nonoperating revenues (expenses)
Income (Loss) Before Other Revenues, Expenses, Gains, or Losses
Capital appropriations
Capital grants
Donated assets and supplies
Gain (loss) on disposal of capital assets
Change in net position
Total Net Position, Beginning of Year
Total Net Position, End of Year
$
28
29,180 $
1,881
930
280
32,271
Minneapolis
Community &
Technical
College
15,122 $
1,197
3,242
2,491
203
22,255
Minnesota
State College Southeast
Technical
4,865
809
1,076
46
6,796
49,897
9,504
2,182
1,150
2,261
1,313
2,853
69,160
(36,889)
49,428
6,485
6,741
493
5,552
3,718
4,548
76,965
(54,710)
15,027
2,377
2,097
318
823
504
737
21,883
(15,087)
20,758
13,412
3,969
1,189
216
(535)
(24)
38,985
19,518
26,253
3,567
201
275
(1,114)
48,700
6,960
6,020
948
14
44
(134)
13,852
2,096
(6,010)
(1,235)
926
(49)
2,973
8,238
(11)
2,217
508
(13)
(740)
56,774
59,747 $
98,167
100,384 $
17,100
16,360
Minnesota State
Community &
Technical
College
$
$
12,628 $
1,978
4,840
124
291
19,861
Minnesota
State
University,
Mankato
75,299 $
8,861
11,831
24,950
880
121,821
Minnesota
State
University
Moorhead
31,601 $
2,246
6,168
13,514
997
54,526
Minnesota
West
Community &
Technical
College
6,913 $
802
2,008
288
10,011
Normandale
Community
College
22,357 $
1,790
4,827
3,458
131
32,563
North
Hennepin
Community
College
13,801 $
1,806
2,469
85
18,161
Northland
Community &
Technical
College
8,546
1,117
1,851
311
11,825
35,825
4,398
6,900
1,087
2,265
1,027
3,062
54,564
(34,703)
128,213
27,103
11,860
4,502
13,922
3,929
9,251
198,780
(76,959)
62,762
11,849
6,864
1,465
5,789
561
4,424
93,714
(39,188)
19,795
2,643
3,123
1,002
1,069
384
1,417
29,433
(19,422)
44,790
5,453
5,622
381
3,349
1,510
3,172
64,277
(31,714)
32,292
4,010
3,755
753
1,916
1,692
1,774
46,192
(28,031)
21,293
3,193
3,728
705
1,819
752
1,393
32,883
(21,058)
17,929
12,932
2,013
605
136
(388)
33,227
47,002
19,727
9,634
2,701
360
(4,057)
75,367
25,762
9,218
3,592
1,848
467
(1,724)
39,163
10,814
6,038
2,064
117
79
(110)
41
19,043
17,192
14,541
3,320
50
249
(1,546)
33,806
12,756
13,330
2,364
155
128
(396)
28,337
11,518
9,405
1,273
344
71
(219)
33
22,425
(1,476)
(1,592)
(25)
(379)
1,269
195
(10)
(22)
1,109
24
333
(151)
(277)
7,904
15
7,894
43,325
43,303 $
210,363
210,086 $
104,314
112,208 $
3,377
13
3,011
19,328
22,339 $
2,092
7,708
(15)
9,785
72,222
82,007 $
306
4,165
4,471
63,882
68,353 $
1,367
869
195
(154)
2,277
34,822
37,099
Continued…
29
MINNESOTA STATE COLLEGES AND UNIVERSITIES
STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION BY INSTITUTION (UNAUDITED)
FOR THE YEAR ENDED JUNE 30, 2013
(IN THOUSANDS)
Pine
Technical
College
Operating Revenues
Tuition, net
Fees, net
Sales and room and board, net
Restricted student payments, net
Other income
Total operating revenues
$
Operating Expenses
Salaries and benefits
Purchased services
Supplies
Repairs and maintenance
Depreciation
Financial aid, net
Other expense
Total operating expenses
Operating loss
Nonoperating Revenues (Expenses)
Appropriations
Federal grants
State grants
Private grants
Interest income
Interest expense
Grants to other organizations
Total nonoperating revenues (expenses)
Income (Loss) Before Other Revenues, Expenses, Gains, or Losses
Capital appropriations
Capital grants
Donated assets and supplies
Gain (loss) on disposal of capital assets
Change in net position
Total Net Position, Beginning of Year
Total Net Position, End of Year
$
30
1,493 $
208
2,626
31
4,358
Ridgewater
College
9,986 $
1,669
2,288
483
14,426
Riverland
Community
College
7,299
990
1,974
122
10,385
8,813
1,557
1,015
214
507
1,110
322
13,538
(9,180)
25,911
3,433
4,170
1,366
1,672
796
1,627
38,975
(24,549)
20,367
2,523
2,668
289
1,361
488
1,368
29,064
(18,679)
2,930
3,879
1,726
79
18
(50)
45
8,627
13,747
7,882
2,257
25
44
(148)
34
23,841
10,460
6,223
1,261
79
68
(139)
101
18,053
(553)
(708)
(626)
202
1
(350)
1,787
162
(15)
1,226
2,197
2,535
4,106
8,586
8,236 $
34,672
35,898 $
20,658
24,764
Rochester
Community &
Technical
College
$
13,719 $
2,587
4,861
451
21,618
9,177 $
1,118
1,849
809
12,953
Southwest
Minnesota
State
University
13,177 $
1,762
1,456
6,215
110
22,720
St. Cloud
Technical &
Community
College
St. Cloud
State
University
60,439 $
9,252
12,921
19,555
4,212
106,379
10,072 $
1,262
3,050
66
14,450
Saint Paul
College
9,813 $
1,053
2,981
977
87
14,911
Winona
State
University
43,826
5,381
16,704
21,756
1,085
88,752
32,029
4,080
5,294
1,128
3,961
1,353
2,479
50,324
(28,706)
24,891
2,856
3,225
902
1,011
789
1,429
35,103
(22,150)
30,555
6,547
1,767
826
3,740
653
2,167
46,255
(23,535)
134,996
21,087
8,953
3,244
12,209
3,368
9,747
193,604
(87,225)
25,290
2,603
3,434
338
2,070
1,203
1,352
36,290
(21,840)
28,954
4,438
6,214
618
2,379
2,290
2,570
47,463
(32,552)
78,909
24,671
8,065
2,834
9,564
1,482
5,213
130,738
(41,986)
14,884
11,308
2,472
54
57
(231)
28,544
10,860
9,534
1,429
50
59
(80)
57
21,909
14,514
5,173
2,303
1,324
127
(890)
(2)
22,549
54,372
21,371
9,309
2,721
602
(2,869)
(580)
84,926
10,967
9,569
1,922
65
134
(378)
14
22,293
13,234
17,428
2,389
114
73
(844)
32,394
29,752
10,150
6,002
2,705
1,271
(2,372)
(127)
47,381
(162)
(241)
(986)
(2,299)
410
265
74
(237)
20,215
36
17,952
2,053
(50)
1,841
$
South
Central
College
70,581
72,422 $
4,049
13
1
3,822
16,557
20,379 $
66,993
66,756 $
453
2,323
16
2,792
198,399
216,351 $
50,635
53,427 $
(158)
5,395
504
11
300
657
639
2
12
6,048
54,042
54,699 $
169,549
175,597
Continued…
31
MINNESOTA STATE COLLEGES AND UNIVERSITIES
STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION BY INSTITUTION (UNAUDITED)
FOR THE YEAR ENDED JUNE 30, 2013
(IN THOUSANDS)
Northeast
Higher
Education
District
Operating Revenues
Tuition, net
Fees, net
Sales and room and board, net
Restricted student payments, net
Other income
Total operating revenues
$
Operating Expenses
Salaries and benefits
Purchased services
Supplies
Repairs and maintenance
Depreciation
Financial aid, net
Other expense
Total operating expenses
Operating loss
12,358 $
2,279
4,988
395
353
20,373
System
Office
- $
543
543
System-wide
Activity
65
2,816
1,301
4,182
38,514
5,830
5,078
1,444
2,997
1,747
3,862
59,472
(39,099)
10,429
1,937
16
25
3,054
(110)
15,351
(14,808)
5,906
7,802
527
14
210
379
65
14,903
(10,721)
Nonoperating Revenues (Expenses)
Appropriations
Federal grants
State grants
Private grants
Interest income
Interest expense
Grants to other organizations
Total nonoperating revenues (expenses)
18,284
14,359
3,833
1,135
182
(425)
74
37,442
18,104
10
265
1
18,380
10,785
11,252
1,033
429
88
(27)
(11,603)
11,957
Income (Loss) Before Other Revenues, Expenses, Gains, or Losses
(1,657)
3,572
1,236
3,595
63
2,001
(29)
3,543
(20)
1,216
Capital appropriations
Capital grants
Donated assets and supplies
Gain (loss) on disposal of capital assets
Change in net position
Total Net Position, Beginning of Year
Total Net Position, End of Year
$
32
55,993
57,994 $
23,296
26,839 $
39,279
40,495
Sub Total
$
542,199 $
68,369
121,883
104,706
15,547
852,704
1,229,230
211,450
144,705
33,138
107,890
43,782
88,149
1,858,344
(1,005,640)
$
Eliminations &
Reclassifications
GAAP Total
- $
(4)
(1,323)
(1,327)
22,405
13,606
852
470
(38,660)
(1,327)
-
542,199
68,369
121,879
104,706
14,224
851,377
1,251,635
225,056
145,557
33,608
107,890
43,782
49,489
1,857,017
(1,005,640)
553,246
367,862
91,665
19,809
5,836
(22,758)
(12,004)
1,003,656
-
553,246
367,862
91,665
19,809
5,836
(22,758)
(12,004)
1,003,656
(1,984)
-
(1,984)
88,497
24
4,538
(7)
91,068
-
88,497
24
4,538
(7)
91,068
1,991,610
2,082,678 $
- $
1,991,610
2,082,678
Concluded
33
MINNESOTA STATE COLLEGES AND UNIVERSITIES FOUNDATIONS
STATEMENTS OF FINANCIAL POSITION (UNAUDITED)
AS OF JUNE 30, 2013 AND 2012
(IN THOUSANDS)
Bemidji
State
University
Foundation
Assets
Current Assets
Cash and cash equivalents
Investments
Restricted cash and cash equivalents
Pledges and contributions receivable, net
Other receivables and Other assets
Annuities/Remainder interests/Trusts
Finance lease receivable
Total current assets
Noncurrent Assets
Annuities/Remainder interests/Trusts
Long-term pledges receivable
Finance lease receivable, net
Investment property
Investments
Restricted investments
Assets held for endowment
Buildings, property and equipment, net
Other assets
Total noncurrent assets
Total Assets
Liabilities and Net Assets
Current Liabilities
Accounts payable
Interest payable
Unearned revenue
Annuities payable
Notes payable
Bonds payable
Scholarships payable and Other liabilities
Total current liabilities
Noncurrent Liabilities
Annuities payable and Unitrust liabilities
Notes payable
Bonds payable
Total noncurrent liabilities
Total Liabilities
Net Assets
Unrestricted (deficit)
Temporarily restricted
Permanently restricted
Total Net Assets
Total Liabilities and Net Assets
$
$
$
Fergus Area
College
Foundation
Metropolitan
State University
Foundation
108 $
18,511
2,119
19
20,757
171 $
1,819
59
2
2,051
130 $
3,971
3
4,104
1,559
375
75
3
2,012
141
5,149
294
34
5,618
26,375 $
2,051 $
4,104 $
2,860
63
2,923
4,935
60 $
3
22
28
113
4 $
4
43 $
43 $
547
10
557
4
43
557
45
821
1,181
2,047
2,051 $
121
959
2,981
4,061
4,104 $
180
732
912
1,025
$
Century
College
Foundation
5,454
3,573
16,323
25,350
26,375 $
34
356
1,578
2,444
4,378
4,935
Minnesota State
University, Mankato
Foundation, Inc.
$
$
$
St. Cloud State
University
Foundation, Inc.
Southwest
Minnesota
State
University
Foundation
2,256 $
1,119
58
3,433
1,834 $
12,940
484
4
15,262
458 $
30,210
1,022
1,938
17
55
845
34,545
247
6,253
514
39
17
7,070
804
42,944
1,004
44,752
48,185 $
6,219
2,698
8,917
24,179 $
308
2,582
7,548
275
280
10,993
45,538 $
138
2,894
6,443
477
9,952
17,022
158 $
158
59 $
14
32
100
205
60 $
68
44
740
845
73
1,830
253
4
212
413
882
981
981
1,139
$
Minnesota State
University
Moorhead Alumni
Foundation, Inc.
11,520
2,288
33,238
47,046
48,185 $
1,762
3,019
4,781
4,986
982
8,171
10,040
19,193
24,179 $
311
4,320
9,538
14,169
15,999
(5,737)
18,239
17,037
29,539
45,538 $
35
Winona
State
University
Foundation
$
$
$
5,105
5,105
5,987
671
7,194
3,170
11,035
17,022
2,205 $
339
143
158
2,845
8,968
74,079
1,022
6,647
288
230
845
92,079
1,201
23,066
8,731
645
33,643
36,488 $
449
16,093
7,548
66,010
5,754
19,445
1,499
116,798
208,877
65 $
29
275
356
725
1,249
118
212
373
1,096
1,358
111
4,517
6,758
6,758
7,483
$
2013
Total
1,075
10,230
17,700
29,005
36,488 $
2012
Total
$
$
$
7,690
65,023
1,102
4,975
399
179
805
80,173
424
11,628
8,393
5
59,433
2,881
2,736
20,662
1,269
107,431
187,604
1,015
100
392
385
1,660
1,920
178
5,650
3,234
11,810
17,662
32,706
37,223
2,123
13,126
18,792
34,041
39,691
14,487
53,053
104,114
171,654
208,877
10,913
40,819
96,181
147,913
187,604
$
MINNESOTA STATE COLLEGES AND UNIVERSITIES FOUNDATIONS
STATEMENTS OF ACTIVITIES (UNAUDITED)
FOR THE YEARS ENDED JUNE 30, 2013 AND 2012
(IN THOUSANDS)
Bemidji
State
University
Foundation
Support and Revenue
Contributions
Endowment gifts
In-kind contributions
Investment income
Realized gains (losses)
Unrealized gains (losses)
Program income
Special events
Fundraising income
Other income
Total support and revenue
$
Expenses
Program services
Program services
Scholarships
Institutional activities
Special projects
Total program services
Supporting services
Interest expense
Management and general
Fundraising expenses
Depreciation and amortization
Other expense
Total supporting services
Total expenses
Change in Net Assets
Net Assets, Beginning of Year
Net Assets, End of Year
$
3,842
3,503
1,142
2
89
11
8,589
Century
College
Foundation
$
554
145
8
33
173
12
925
Fergus Area
College
Foundation
$
98
131
272
94
53
65
713
Metropolitan
State University
Foundation
$
1,175
259
19
1,453
837
1,254
2,091
126
439
565
166
166
1,202
1,202
135
731
866
2,957
71
23
94
659
128
5
133
299
277
364
641
1,843
5,632
266
414
19,718
25,350
$
36
1,781
2,047
$
3,647
4,061
(390)
$
4,768
4,378
Minnesota State
University,
Mankato
Foundation, Inc.
$
$
Minnesota State
University
Moorhead Alumni
Foundation, Inc.
3,753 $
2,441
1,213
2,698
(54)
38
10,089
2,587
1,910
357
12
4,866
Southwest
Minnesota
State
University
Foundation
St. Cloud State
University
Foundation, Inc.
$
5,552
1,810
544
508
2,421
10,835
$
2,357
379
154
120
590
242
66
882
4,790
Winona
State
University
Foundation
$
3,670
444
92
1,969
867
174
7,216
$
2013
Total
2012
Total
23,490 $
3,601
4,775
5,805
3,451
5,392
1,649
24
293
996
49,476
23,126
867
4,340
2,617
(1,055)
(1,191)
2,452
18
203
959
32,336
4,003
4,003
1,154
598
1,752
339
2,696
3,035
1,224
806
614
2,644
674
1,023
442
45
2,184
4,593
10,255
1,495
1,299
17,642
3,499
17,283
3,227
1,491
25,500
5
546
1,780
7
2,338
6,341
441
560
1,001
2,753
439
927
633
1,999
5,034
444
425
869
3,513
73
79
152
2,336
444
3,042
4,600
7
8,093
25,735
807
2,840
3,611
135
65
7,458
32,958
3,748
2,113
5,801
1,277
4,880
23,741
24,125
29,005
147,913
$ 171,654
43,298
47,046
$
17,080
19,193
$
23,738
29,539
37
$
9,758
11,035
$
(622)
148,535
$ 147,913
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38
SUPPLEMENTARY SECTION
39
COMPONENTS OF NORTHEAST HIGHER EDUCATION DISTRICT (NHED) AND
COMPONENTS OF ANOKA TECHNICAL COLLEGE AND COMMUNITY COLLEGE
RECONCILIATION OF NET POSITION TO BUDGETARY FUND BALANCE
GENERAL FUND BY INSTITUTION (UNAUDITED)
AS OF JUNE 30, 2013
(IN THOUSANDS)
Hibbing
Itasca
Community
Community
College
College
$
19,916 $
9,735 $
Total Net Position
Less Restricted Net Position
Net investment in capital assets
Restricted net position
Total unrestricted net position
Less Non-General Fund Unrestricted Net Position
Enterprise Fund
Special Revenue Fund
General Fund - unrestricted net position
GAAP Accruals Not Recognized in Budget
Other compensation benefits
Other accruals, net
General Fund - unrestricted budgetary fund balance
Less Budgetary Designations
External programs
Prior year encumbrances
Board required reserve
Designated for programs
Planned for fiscal year 2014 budget
Planned for fiscal year 2015 budget
Undesignated budgetary fund balance
$
40
Vermilion
Community
College
7,189
(15,995)
(667)
3,254
(6,524)
(612)
2,599
(5,968)
(192)
1,029
(1,589)
(272)
1,393
(800)
(62)
1,737
(459)
(40)
530
2,650
(183)
3,860
1,378
(152)
2,963
(1,028)
(2,271)
(561)
- $
(300)
(700)
(1,763)
(200)
- $
732
439
1,701
(500)
(1,201)
-
Mesabi Range
Community &
Technical
College
$
16,276 $
$
Northeast
Higher
Education
Rainy River
District
Community
Total
College
4,878 $
57,994
AnokaRamsey
Community
College
$
65,727 $
Anoka
Technical
College &
Anoka
Community
Technical
College
College
21,404 $
87,131
(12,603)
(836)
2,837
(2,897)
(83)
1,898
(43,987)
(2,390)
11,617
(44,612)
(2,412)
18,703
(14,229)
(330)
6,845
(58,841)
(2,742)
25,548
(1,073)
(64)
1,700
(169)
(35)
1,694
(4,090)
(473)
7,054
(5,688)
(359)
12,656
(1,716)
(252)
4,877
(7,404)
(611)
17,533
1,286
(301)
2,685
370
283
2,347
6,416
86
13,556
4,162
(1,918)
14,900
1,442
(1,142)
5,177
5,604
(3,060)
20,077
(356)
(3,441)
(7,808)
(1,501)
(450)
-
(6)
(250)
(3,208)
(6,929)
4,507 $
(6)
(29)
(1,307)
(3,835)
- $
(21)
(713)
(1,661)
(290)
- $
(35)
(500)
(912)
(450)
(450)
- $
$
41
(12)
(279)
(4,515)
(10,764)
4,507
COMPONENTS OF NORTHEAST HIGHER EDUCATION DISTRICT (NHED) AND
COMPONENTS OF ANOKA TECHNICAL COLLEGE AND COMMUNITY COLLEGE
STATEMENT OF NET POSITION BY INSTITUTION (UNAUDITED)
AS OF JUNE 30, 2013
(IN THOUSANDS)
Hibbing
Community
College
Assets
Current Assets
Cash and cash equivalents
Investments
Grants receivable
Accounts receivable, net
Prepaid expense
Inventory
Student loans, net
Other assets
Advances from other schools
Total current assets
$
6,955 $
209
1,101
375
305
32
28
9,005
Total restricted assets
Noncurrent Assets
Student loans, net
Capital assets, net
Advances from other schools
Total noncurrent assets
Total Assets
Liabilities
Current Liabilities
Salaries and benefits payable
Accounts payable
Unearned revenue
Payable from restricted assets
Interest Payable
Funds held for others
Current portion of long-term debt
Other compensation benefits
Other liabilities
Advances to other schools
Total current liabilities
Noncurrent Liabilities
Advances to other schools
Noncurrent portion of long-term debt
Other compensation benefits
Capital contributions payable
Total noncurrent liabilities
Total Liabilities
Net Position
Net investment in capital assets
Restricted expendable, bond covenants
Restricted expendable, other
Unrestricted
Total Net Position
Itasca
Community
College
$
42
5,439 $
296
861
82
68
47
8
6,801
Vermilion
Community
College
3,019
117
38
36
93
95
3,398
-
293
-
328
18,556
18,884
472
9,284
9,756
3
6,322
6,325
27,889
16,850
9,723
1,276
338
531
60
162
305
311
11
2,994
910
378
732
174
35
204
141
49
1
2,624
431
209
55
14
25
86
10
60
890
2,256
2,363
360
4,979
150
2,555
1,250
536
4,491
510
329
697
108
1,644
7,973
7,115
2,534
15,995
667
3,254
6,524
293
319
2,599
5,968
61
131
1,029
19,916 $
9,735 $
7,189
Mesabi Range
Community &
Technical
College
$
$
4,857 $
27
290
641
357
146
15
22
6,355
Northeast
Higher
Education
District Total
Rainy River
Community
College
3,017 $
105
33
13
19
3,187
23,287
27
1,017
2,674
850
625
94
172
28,746
AnokaRamsey
Community
College
$
24,933 $
663
3,244
876
777
42
95
1
30,631
Anoka
Technical
College
Eliminations &
Reclassifications
Anoka
Technical
College &
Community
College Total
8,991 $
86
904
324
523
10,828
- $
(518)
(518)
33,924
749
3,630
1,200
1,300
42
95
1
40,941
30
-
323
1,011
19
-
1,030
37
16,882
16,919
1
2,904
2,905
841
53,948
54,789
313
57,570
57,883
16,735
16,735
-
313
74,305
74,618
23,304
6,092
83,858
89,525
27,582
(518)
116,589
743
158
223
200
6
242
147
26
1,745
196
79
152
52
50
529
3,556
1,162
1,693
434
269
776
735
70
87
8,782
2,920
829
1,089
177
62
589
877
506
7
25
7,081
1,152
841
199
19
251
152
18
2,632
(518)
(518)
4,072
1,152
1,288
196
62
589
1,128
658
25
25
9,195
4,038
1,151
94
5,283
298
6
326
55
685
958
9,184
5,787
1,153
17,082
12,592
3,730
395
16,717
2,256
1,290
3,546
7,028
1,214
25,864
23,798
6,178
12,603
836
2,837
2,897
83
1,898
43,987
354
2,036
11,617
44,612
502
1,910
18,703
14,229
330
6,845
-
58,841
502
2,240
25,548
16,276 $
4,878 $
57,994
65,727 $
21,404 $
- $
87,131
$
43
(518)
14,848
5,020
395
20,263
29,458
COMPONENTS OF NORTHEAST HIGHER EDUCATION DISTRICT (NHED) AND
COMPONENTS OF ANOKA TECHNICAL COLLEGE AND COMMUNITY COLLEGE
STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION BY INSTITUTION (UNAUDITED)
FOR THE YEAR ENDED JUNE 30, 2013
(IN THOUSANDS)
Hibbing
Community
College
Operating Revenues
Tuition, net
Fees, net
Sales and room and board, net
Restricted student payments, net
Other income
Total operating revenues
$
Operating Expenses
Salaries and benefits
Purchased services
Supplies
Repairs and maintenance
Depreciation
Financial aid, net
Other expense
Total operating expenses
Operating income (loss)
Nonoperating Revenues (Expenses)
Appropriations
Federal grants
State grants
Private grants
Interest income
Interest expense
Grants to other organizations
Total nonoperating revenues (expenses)
Income (Loss) Before Other Revenues, Expenses, Gains, or Losses
Capital appropriations
Capital grants
Donated assets and supplies
Gain (loss) on disposal of capital assets
Change in net position
Total Net Position, Beginning of Year
Total Net Position, End of Year
$
44
5,092 $
818
919
11
6,840
Itasca
Community
College
2,569 $
498
1,131
395
48
4,641
Vermilion
Community
College
1,648
336
1,824
168
3,976
12,671
2,001
1,496
128
1,213
395
812
18,716
(11,876)
8,906
1,459
971
384
504
816
1,325
14,365
(9,724)
5,236
890
739
354
491
97
486
8,293
(4,317)
5,815
4,131
1,072
139
71
(111)
11,117
3,588
3,922
1,143
885
28
(123)
9,443
2,338
1,674
290
43
11
(27)
4,329
(759)
(281)
12
463
30
(266)
360
29
108
9
21
20,182
19,916 $
9,627
9,735 $
7,168
7,189
Mesabi Range
Community &
Technical
College
$
2,094 $
444
522
76
3,136
8,628
1,018
1,457
377
626
360
849
13,315
(10,179)
4,786
3,849
928
29
71
(164)
74
9,573
$
Rainy River
Community
College
955 $
183
592
50
1,780
Northeast
Higher
Education
District Total
12,358
2,279
4,988
395
353
20,373
Anoka-Ramsey
Community
College
$
17,334 $
2,349
3,681
752
128
24,244
Anoka
Technical
College
5,258 $
712
1,142
8
7,120
Anoka
Technical
College &
Community
College Total
22,592
3,061
4,823
752
136
31,364
3,073
462
415
201
163
79
390
4,783
(3,003)
38,514
5,830
5,078
1,444
2,997
1,747
3,862
59,472
(39,099)
33,711
4,576
5,493
732
2,499
1,669
3,361
52,041
(27,797)
12,951
1,892
1,619
287
921
432
1,004
19,106
(11,986)
46,662
6,468
7,112
1,019
3,420
2,101
4,365
71,147
(39,783)
1,757
783
400
39
1
2,980
18,284
14,359
3,833
1,135
182
(425)
74
37,442
16,129
13,371
2,472
12
126
(517)
31,593
7,381
4,171
983
3
63
(112)
12,489
23,510
17,542
3,455
15
189
(629)
44,082
(606)
(23)
(1,657)
3,796
503
4,299
2,475
(5)
1,864
297
274
3,595
63
2,001
1,942
1
(1)
5,738
253
756
2,195
1
(1)
6,494
14,412
16,276 $
4,604
4,878 $
55,993
57,994
59,989
65,727 $
20,648
21,404 $
$
45
80,637
87,131
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46
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Twin Cities: 651-201-1800
ST. PAUL, MN 55101-7804
Toll free: 1-888-667-2848
www.mnscu.edu
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