Issue link: http://catalog.e-digitaleditions.com/i/415428
JOHNSON & WALES UNIVERSITY Consolidated Statements of Unrestricted Revenues, Expenses, and Other Changes in Unrestricted Net Assets Years Ended June 30, 2014 and 2013 (In Thousands) 2014 2013 Changes in unrestricted operating net assets: Revenues and gains: Tuition and fees $ 389,169 $ 384,103 Residence and dining 69,045 66,915 Scholarships (143,140) (137,654) Net student fees 315,074 313,364 Practicum properties 11,546 13,200 Private gifts, grants and federal aid to students 2,883 4,050 Investment return appropriated for operations 5,997 5,860 Other sources 7,731 7,955 Total revenue and gains 343,231 344,429 Net assets released from restrictions 6,554 3,889 Total revenue, gains and other support 349,785 348,318 Operating expenses: Instructional 141,886 138,347 Practicum 13,359 20,026 General administrative 40,661 40,220 Admissions and recruiting 22,395 21,798 General services 37,285 33,572 Student services 74,067 71,232 Loss on sale of property and equipment 268 2,488 Total operating expenses 329,921 327,683 Increase in unrestricted net assets from operations 19,864 20,635 Non-operating activities: Increase (decrease) resulting from actuarial changes in defined benefit liability 272 (1,468) Loss on early extinguishment of long-term debt (429) Unrestricted return on investments 31,527 22,452 Investment return appropriated for operations (5,997) (5,860) Reclassifications to restricted net assets (11) (611) Increase (decrease) in unrestricted net assets from non-operating activities 25,362 14,513 Increase in unrestricted net assets $ 45,226 $ 35,148 JOHNSON & WALES UNIVERSITY Consolidated Statements of Changes in Net Assets Years Ended June 30, 2014 and 2013 (In Thousands) 2014 2013 Summary of changes in unrestricted operating net assets: Total operating unrestricted revenues and gains $ 343,231 $ 344,429 Net operating assets released from restrictions 6,554 3,889 Total unrestricted operating expenses (329,921) (327,683) Increase (decrease) in unrestricted net assets from non-operating activities 25,362 14,513 Increase in unrestricted net assets 45,226 35,148 Changes in temporarily restricted net assets: Contributions 4,054 2,873 Return on long-term investments 3,008 1,892 Net assets released from restrictions (6,554) (3,889) Reclassifications (to) from unrestricted net assets 11 (34) Increase (decrease) in temporarily restricted net assets 519 842 Changes in permanently restricted net assets: Contributions 375 376 Return on long-term investments 35 30 Reclassifications from unrestricted net assets - 645 Increase in permanently restricted net assets 410 1,051 Increase in net assets 46,155 37,041 Net assets, beginning of year 680,252 643,211 Net assets, end of year $ 726,407 $ 680,252