Mott Community College General Fund Balance Sheet May 31, 2007

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Mott Community College
General Fund
Balance Sheet
May 31, 2007
With Comparative Figures at May 31, 2006
As of
May 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 ($2,105,939
for 2007 and $1,671,972 for 2006)
Inventories
Prepaid expenses and other assets
Total Assets
Liabilities and Net Assets
Current Liabilities
Accounts payable
Accrued payroll and related liabilities
Deposits held for others
$
As of
May 31,
2006
2,290,204 $
14,100,800
659,399
2,006,045
92,633
156,495
$
$
Total Current Liabilities
1,835,540 $
10,469,508
2,959,528
1,021,321
57,907
251,237
19,305,576 $
503,308
2,776,545
12,310
$
Change
$
16,595,041 $
480,483
2,059,900
9,650
$
%
Change
454,664
3,631,292
(2,300,129)
24.8%
34.7%
-77.7%
984,724
34,726
(94,742)
-96.4%
60.0%
-37.7%
2,710,535
16.3%
22,825
716,645
2,660
4.8%
34.8%
27.6%
4,578,658
3,156,362
1,422,296
45.1%
2,580,064
2,541,345
38,719
1.5%
7,158,722
5,697,707
1,461,015
25.6%
Net Assets
Unrestricted
12,146,854
10,897,334
11.5%
Total Net Assets
12,146,854
10,897,334
1,249,520
1,249,520
19,305,576 $
16,595,041 $
2,710,535
16.3%
Accrued termination pay
Total Liabilities
Total Liabilities and Net Assets
$
11.5%
Mott Community College
General Fund
Statement of Revenues, Expenditures and Changes in Net Assets
For the 11 Months Ended May 31, 2007
With Comparative Figures at May 31, 2006
Current Year - FY 2006/07
Amended
Budget
Actual Year-toDate
Prior Year - FY 2005/06
Actual as
% of
Budget
Annual Budget
Actual Year-toDate
Actual as
% of
Budget
Actual to
Actual Change
Actual to
Actual
Percent
Budget to
Budget
Change
Budget to
Budget
Percent
Revenues:
23,550,978 $
23,767,940
100.9%
$ 23,466,037 $
22,865,451
97.4%
902,489
3.80%
Property taxes
Tuition and fees
$
23,319,152
21,347,032
91.5%
22,192,759
20,611,419
92.9%
$
735,613
3.45%
State appropriations
$
84,941
0.36%
1,126,393
4.83%
14,571,386
10,677,344
73.3%
14,429,785
10,555,586
73.2%
121,758
1.14%
141,601
0.97%
Ballenger trust
1,692,360
1,551,330
91.7%
965,000
742,330
76.9%
809,000
52.15%
727,360
42.98%
Grants and other
2,216,862
1,999,634
90.2%
1,820,006
1,790,291
98.4%
209,343
10.47%
396,856
17.90%
65,350,738
59,343,280
90.8%
62,873,587
56,565,077
90.0%
2,778,203
4.68%
2,477,151
3.79%
4.47%
Total revenues
Expenditures:
Salaries and wages
35,822,134
31,341,234
87.5%
34,221,434
29,885,920
87.3%
1,455,314
4.64%
1,600,700
Fringe benefits
14,825,563
12,183,885
82.2%
14,147,154
11,617,059
82.1%
566,826
4.65%
678,409
Contracted services
3,775,070
2,812,051
74.5%
4,701,993
2,975,810
63.3%
(163,759)
-5.82%
(926,923)
Materials and supplies
1,696,169
1,341,038
79.1%
1,722,940
1,404,426
81.5%
(63,388)
-4.73%
(26,771)
-1.58%
158,885
158,646
99.8%
117,912
100,485
85.2%
58,161
36.66%
40,973
25.79%
10.44%
Facilities rent
4.58%
-24.55%
Utilities and insurance
3,004,093
2,176,611
72.5%
2,690,340
2,264,750
84.2%
(88,139)
-4.05%
313,753
Operations/communications
3,761,153
2,020,814
53.7%
3,238,068
1,990,479
61.5%
30,335
1.50%
523,085
13.91%
Transfers
2,095,723
1,168,412
55.8%
1,306,758
668,602
51.2%
499,810
42.78%
788,965
37.65%
123,045
44,536
36.2%
235,165
183,774
78.1%
(139,238) -312.64%
(112,120)
-
0.0%
341,750
341,500
99.9%
(341,500)
(341,750)
81.6%
62,723,514
51,432,805
82.0%
Capital outlay
Bond retirements
Total expenditures
Net increase/(decrease) in net
assets
Net Assets
Net Assets - Beginning of Year
Net Assets - YTD
65,261,835
53,247,227
88,903
6,096,053
150,073
5,132,272
6,050,801
6,139,704
6,050,801
12,146,854
4,206,490
4,356,563
5,765,062
10,897,334
0.00%
1,814,422
3.41%
963,781
15.81%
2,538,321
-91.12%
#DIV/0!
3.89%
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