Harrisburg University of Science and Technology

Unaudited Balance Sheets

June 30, 2013 and June 30, 2012
June 30, 2013

June 30, 2012

ASSETS
Current Assets
Cash, Unrestricted
Grants Receivable
Accounts Receivable
Contributions Receivable
Allowance for Doubtful Accounts
Prepaid Expenses

140,555
218,827
722,202
804,083
(275,000)
197,774

121,892
860,365
413,018
(358,000)
151,479

Total Current Assets

1,188,754

1,808,441

Property and Equipment, Net

65,384,393

65,072,288

Other Assets
Contributions Receivable, non-current
Security Deposits
Asset Held For Sale - Parking Garage
Deferred Financing Costs
Bond Issuance Costs
Bond Reserve Funds

165,731
8,825
14,764,527
18,589
409,159
4,346,666

1,351,308
8,825
14,764,627
18,589
409,159
4,826,307

Total Other Assets

19,713,497

21,378,815

TOTAL ASSETS

86,286,644

88,259,544

Harrisburg University of Science and Technology

Unaudited Balance Sheets
June 30, 2013 and June 30, 2012
June 30, 2013

June 30, 2012

LIABILITIES AND NET ASSETS

Current Liabilities
Accounts Payable
Accrued Expenses
Deposits and Deferred Revenue
Deposits on Sale of Parking Garage

2,063,943
4,447,002
191,553
14,000,000

1,763,507
2,365,955
602,168
14,000,000

Total Current Liabilities

20,702,498

18,731,630

Long-Term Liabilities
Bonds Payable, Less Discounts
Notes Payable - Metro Bank
Notes Payable - Fulton Bank
Notes Payable - Friends of HU
County of Dauphin

59,488,070
1,299,918
498,890
1,254,202
5,200,000

59,488,070
1,500,695
300,000
784,259
3,700,000

Total Long-Term Liabilities

67,741,080

65,773,024

TOTAL LIABILITIES

88,443,578

84,504,654

Unrestricted
Temporarily Restricted
Permanently Restricted

(3,735,683)
578,749
1,000,000

364,906
2,389,984
1,000,000

TOTAL NET ASSETS

(2,156,934)

3,754,890

NET ASSETS

TOTAL LIABILITIES AND NET ASSETS

86,286,644

88,259,544

Harrisburg University of Science and Technology

Unaudited Statement of Activities
For the Year Ended June 30, 2013 and 2012

Revenues
Tuition
Unfunded & Funded Aid
Tuition Net

June 30, 2013

June 30, 2012

7,746,389
(2,241,542)
5,504,847

6,342,201
(1,442,849)
4,899,352

1,218,631

1,179,484

State - RACP

308,750

1,507,550

Private Gifts, Grants and Contributions

805,457

1,590,104

Investment Income - General Earnings

2,223

2,881

Auxiliary Revenues

937,485

428,673

Other Revenues

573,903

499,589

9,351,296

10,107,633

Instructional
Research
Academic Support
Student Services
Institutional Support
Auxiliary
Interest

2,211,064
1,303,358
774,558
1,757,597
4,297,835
1,159,712
3,758,996

4,684,623
982,215
1,112,873
3,195,573
3,712,087
654,826
3,755,418

Total Expenses

15,263,120

18,097,615

Net (Expenses)
*
*Excludes Depreciation and year-end adjustments for FY2012/13

(5,911,824)

(7,989,982)

Grants - Federal and State

Total Revenue
Expenses