Mott Community College
General Fund
Balance Sheet
July 31, 2007
With Comparative Figures at July 31,2006
As of
July 31,
2007
Assets
Current Assets
Cash and cash equivalents
Short term investments
Due from (to) other funds
State appropriation receivable
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
$
1,977,171
9,647,322
3,013,315
-
As of
July 31,
2006
$
1,815,743
46,045
133,566
1,642,606
92,633
159,568
(499,025)
2,014,428
1,438,795
(1,291,400)
-20.2%
26.4%
91.4%
-100.0%
173,138
(46,588)
(26,002)
-10.5%
-50.3%
-16.3%
1,763,346
11.9%
1,607,762 $
2,091,790
10,045
(1,294,938)
(477,607)
2,893
-80.5%
-22.8%
28.8%
1,939,945
3,709,596
(1,769,652)
-47.7%
2,554,338
2,762,131
(207,793)
-7.5%
4,494,283
6,471,727
(1,977,445)
-30.6%
Net Assets
Unrestricted
12,138,879
8,398,089
44.5%
Total Net Assets
12,138,879
8,398,089
3,740,790
3,740,790
44.5%
1,763,345
11.9%
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
$
16,633,162 $
%
Change
14,869,816 $
Total Assets
$
2,476,196 $
7,632,894
1,574,520
1,291,400
$
Change
312,824
1,614,183
12,938
$
16,633,162 $
14,869,816 $
Mott Community College
General Fund
Statement of Revenues, Expenditures and Changes in Net Assets
For the 1 Month Ended July 31, 2007
With Comparative Figures at July 31, 2006
Current Year - FY 2007/08
Actual as
Actual Year-to% of
Original Budget
Date
Budget
Prior Year - FY 2006/07
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
5,023,760
20.5%
$ 24,426,645 $
579,621
2.4%
23,441,152
0.0%
14,571,386
-
0.0%
-
0.0%
-
4,682,248
19.2%
498,426
2.1%
Ballenger trust
1,700,000
148,544
8.7%
750,000
Grants and other
2,616,372
102,295
3.9%
2,158,482
63,537
2.9%
67,414,299
5,854,220
8.7%
65,347,665
5,244,211
8.0%
Salaries and wages
37,018,191
729,116
2.0%
35,231,544
1,411,132
4.0%
Fringe benefits
14,553,548
714,245
4.9%
14,901,706
580,649
3.9%
Contracted services
4,354,944
429,157
9.9%
3,878,603
244,695
6.3%
Materials and supplies
1,899,171
32,378
1.7%
1,663,876
32,630
2.0%
196,299
10,274
5.2%
113,477
7,985
7.0%
Utilities and insurance
2,831,603
345,138
12.2%
3,015,090
346,117
11.5%
Operations/communications
4,070,709
142,782
3.5%
4,030,016
187,126
4.6%
Transfers
2,175,197
222,135
10.2%
2,009,623
86,589
4.3%
(1,253)
-1.0%
193,512
-
0.0%
-
0.0%
Total revenues
Expenditures:
Facilities rent
Capital outlay
Bond retirements
Total expenditures
Net increase/(decrease) in net
assets
Net Assets
Net Assets - Beginning of Year
Net Assets - YTD
130,613
67,230,275
2,623,972
184,024
8,908,631
9,092,655
3.9%
-
-
65,037,447
2,896,923
3,230,248
310,218
2,347,288
8,908,631
12,138,879
6,050,801
6,361,019
6,050,801
8,398,089
#DIV/0!
4.5%