April 1, 2010. In June 2009 the University’s assets had increased by $76.8 million over 2008, operating revenue was up 14.6%, and liabilities decreased 1.3%.
The University’s assets totaled $974.3 million at June 30, 2009. This balance reflects a $76.8 million, or 8.6 percent increase from the 2007-08 fiscal year, resulting from invested funds from student collections on hand and amounts due from the State for public education capital outlay (PECO) appropriations. While assets grew, liabilities decreased by $2.4 million, or 1.3 percent, totaling $185.5 million at June 30, 2009, compared to $187.9 million at June 30, 2008.
As a result, the University’s net assets increased by $79.1 million, reaching a year-end balance of $788.8 million. The University’s operating revenues totaled $201.8 million for the 2008-09 fiscal year, representing a 14.6 percent increase over the 2007-08 fiscal year due mainly to a receipt of $8.8 million from the Florida Energy System Consortium. Operating expenses totaled $395.2 million for the 2008-09 fiscal year, representing an increase of 1.7 percent over the 2007-08 fiscal year (P. 3).
See related posts: