October 1995 Bulletin

Assets, Liabilities, and Fund Balance

As of April 30 1995 1994
Assets
Cash and temporary cash investments $274,262 $1,099,866
Accounts receivable (net of an allowance for doubtful accounts of $40,000 in 1995 and $45,000 in 1994) 1,336,098 1,493,191
Publication and electronic media inventories 1,032,718 967,676
Prepaid course and other expenses 690,972 461,514
Land, building, furniture and equipment, at cost:
Land and land improvements 1,078,083 1,000,000
Building and building improvements 14,196,590 13,715,172
Furniture and equipment 5,818,637 5,267,304
Total cost 21,093,310 19,982,476
Accumulated depreciation 5,680,735 4,489,147
Net land, building, furniture and equipment 15,412,575 15,493,329
Deferred product cost 1,036,336 686,169
Investments-at market:
Permanent fund 8,788,456 8,550,617
IRB fund 6,006,872 6,068,400
R&D fund 2,682,565 2,466,692
Project fund 4,397,286 1,579,783
Due to operating fund 900,927 2,034,687
Total investments 22,776,106 20,700,179
Total assets $42,559,067 $40,901,924
Liabilities and Fund balance
Liabilities:
Accounts payable and accrued liabilities $3,903,569 $4,676,156
Deferred subscription revenue 74,049 99,267
Future course fees 984,058 1,084,175
Deferred product revenue 148,286 321,352
Notes payable 6,800,000 6,900,000
Total liabilities 11,909,962 13,080,950
Fund balance: 30,649,105 27,820,974
Total liabilities and fund balance $42,559,067 $40,901,924


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