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COASTAL CAROLINA UNIVERSITY |
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STATEMENT OF CURRENT FUNDS REVENUES, |
|
EXPENDITURES AND OTHER CHANGES IN NET ASSETS |
|
FOR THE YEAR ENDED JUNE 30, 2004 |
Component
Unit |
||
Coastal
Carolina |
Coastal
Education |
|
University |
Foundation |
|
| Operating Revenues : | ||
| Student Tuition and Fees, net of scholarship allowance of $9,409,781 is pledged for debt service on general obligation bonds |
$35,779,409 | $ --- |
| Gifts and contributions | --- | 3,760,246 |
| Governmental scholarships and contracts |
11,632,812 | --- |
| Sales and Services of Educational Departments |
1,734,367 | --- |
| Sales and Commissions of Auxillary Enterprises, net of scholarship allowance of $1,283,152 |
5,149,927 | --- |
| Other Fees |
861,376 | --- |
| Total Operating Revenues | 55,157,891 | 3,760,246 |
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| Operating Expenses: | ||
| Personnel costs and benefits |
42,104,080 | --- |
| Services and supplies |
15,184,331 | --- |
| Utilities | 2,300,106 | --- |
| Administration and fund raising | --- | 574,292 |
| Support of Coastal Carolina University | --- | 541,219 |
| Scholarships |
4,753,108 | 158,219 |
| Depreciation |
2,768,983 | --- |
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|
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| Total Operating Revenues | 67,110,608 |
1,274,285 |
| Operating Income (Loss) | (11,952,717) |
2,485,961 |
| Non-Operating Revenues (Expenses) | ||
| State Appropriations |
11,220,170 | --- |
| Local Appropriations |
218,067 | --- |
| Grants and contracts | 1,959,611 | --- |
| Gifts, including $541,219 from Coastal Educational Foundation |
1,087,565 | --- |
| Investment and endowment income | 92,668 | 1,417,669 |
| Interest on capital assets related debt | (1,588,650) | --- |
| Other non-operating revenues (expenses) | (295,041) | --- |
| Net Non-Operating Revenues (Expenses) | 12,694,390 | 1,417,669 |
| Income (loss) before other revenues, expenses, gains, and losses | 741,673 | 3,903,630 |
| Capital appropriations | 1,082,042 | --- |
| Capital grants and gifts | 791,134 | --- |
| Increase (Decrease) in Net Assets | 2,614,849 | 3,903,630 |
| Net Assets | ||
| Net Assets, beginning of year | 58,541,403 | 15,444,004 |
| Net Assets, end of year | $61,156,252 | $19,347,634 |
| Source: Coastal Carolina University Controller | ||
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