Mott Community College
General Fund
Balance Sheet
August 31, 2007
With Comparative Figures at August 31, 2006
As of
August 31,
2007
Assets
Current Assets
Cash and cash equivalents
Short term investments
Due from (to) other funds
Accounts receivable - net of allowance
for uncollectible accounts ($2,828,841
for 2007 and $2,870,340 for 2006)
Inventories
Prepaid expenses and other assets
$
1,862,580
8,964,760
6,747,289
As of
August 31,
2006
$
1,097,862
46,045
119,404
1,810,020
92,633
126,746
(612,872)
920,862
2,112,068
-24.8%
11.4%
45.6%
(712,158)
(46,588)
(7,342)
39.3%
-50.3%
-5.8%
1,653,970
9.6%
204,337 $
1,235,950
10,745
49,877
400,391
1,918
24.4%
32.4%
17.9%
1,903,218
1,451,032
452,187
31.2%
2,620,458
2,762,131
(141,673)
-5.1%
4,523,676
4,213,163
310,514
7.4%
Net Assets
Unrestricted
14,314,264
12,970,807
10.4%
Total Net Assets
14,314,264
12,970,807
1,343,457
1,343,457
10.4%
18,837,940 $
17,183,970 $
1,653,971
9.6%
Liabilities and Net Assets
Current Liabilities
Accounts payable
Accrued payroll and related liabilities
Deposits held for others
$
Total Current Liabilities
Accrued termination pay
Total Liabilities
Total Liabilities and Net Assets
$
18,837,940 $
%
Change
17,183,970 $
Total Assets
$
2,475,452 $
8,043,898
4,635,221
$
Change
254,214
1,636,341
12,663
$
Mott Community College
General Fund
Statement of Revenues, Expenditures and Changes in Net Assets
For the 2 Months Ended August 31, 2007
With Comparative Figures at August 31, 2006
Current Year - FY 2007/08
Original Budget
Actual Year-toDate
Prior Year - FY 2006/07
Actual
as % of
Budget
Original
Budget
Actual Year-toDate
Actual as
% of
Budget
Revenues:
Tuition and fees
$
24,507,814
Property taxes
24,018,727
State appropriations
14,571,386
$
10,839,200
44.2%
$ 24,426,645
2,681,539
11.2%
23,441,152
0.0%
14,571,386
-
$
9,918,125
40.6%
2,952,316
12.6%
-
0.0%
Ballenger trust
1,700,000
297,087
17.5%
750,000
282,060
37.6%
Grants and other
2,616,372
155,543
5.9%
2,158,482
228,689
10.6%
67,414,299
13,973,369
20.7%
65,347,665
13,381,190
20.5%
Salaries and wages
37,018,191
3,916,749
10.6%
35,231,544
3,011,894
8.5%
Fringe benefits
14,553,548
1,906,436
13.1%
14,901,706
1,665,371
11.2%
Contracted services
4,354,944
703,404
16.2%
3,878,603
655,756
16.9%
Materials and supplies
1,899,171
154,681
8.1%
1,663,876
140,929
8.5%
196,299
31,873
16.2%
113,477
23,565
20.8%
Utilities and insurance
2,831,603
497,541
17.6%
3,015,090
461,946
15.3%
Operations/communications
4,070,709
286,857
7.0%
4,030,016
379,395
9.4%
Transfers
2,175,197
222,135
10.2%
2,009,623
120,220
6.0%
130,613
11,747
9.0%
193,512
2,107
1.1%
67,230,275
7,731,423
11.5%
65,037,447
6,461,183
9.9%
184,024
6,241,946
310,218
6,920,007
8,072,318
8,256,342
8,072,318
14,314,264
6,050,800
6,361,018
6,050,800
12,970,807
Total revenues
Expenditures:
Facilities rent
Capital outlay
Total expenditures
Net increase/(decrease) in net
assets
Net Assets
Net Assets - Beginning of Year
Net Assets - YTD