Financial Report 1996
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STATEMENT OF ACTIVITIES
For the Year Ended June 30, 1996
(in thousands)

                Temporarily   Permanently    
REVENUE AND SUPPORT           Unrestricted   Restricted   Restricted   Total
Student charges                        
Regular academic term degree programs:                        
Undergraduate tuition and fees           $ 30,620   $ -   $ -   $ 30,620
Less: grants and scholarships           (8,390)    _______    _______   (8,390)
Net undergraduate tuition and fees           22,230   -   -   22,230
Graduate tuition and fees           3,974           3,974
Continuing education, summer school and                        
other special programs           4,168    _______    _______   4,168
Net tuition and fees           $ 30,372   $ -   $ -   $ 30,372
Room and board fees           6,699           6,699
Public service activities           1,249           1,249
Government grant, primarily for students           1,269           1,269
Private gifts and grants, net           2,718   961   640   4,319
Trust and annuity actuarial gain (loss)           (50)   457       407
Interest and investment income, including unrealized                        
gains of $1,060           2,103   1,715       3,818
Sales and service of educational activities           595           595
Other revenue and support           1,261   3    _______   1,264
Total unrestricted revenue and gains           46,216   3,136   640   49,992
Net assets released from restrictions           2,340   (2,340)    _______    _______
Total revenues, gains and other support           48,556   796   640   49,992
                         
EXPENSES                        
Instruction                        
Regular academic term degree programs           15,682           15,682
Continuing education, summer school and                        
other special programs           3,092           3,092
Public service           750           750
Academic support           2,506           2,506
Student services           6,611           6,611
Institutional support           7,083           7,083
Federal grants to students           803           803
Student housing and dining expenses           6,603           6,603
Provision for bad debts, indirect cost recovery,                        
federal loan cancellations and trust admin.           458           458
Trust income and remainderman distributions           1,175           1,175
Total expenses           44,763   _______   _______   44,763
Increase (decrease) in net assets           3,793   796   640   5,229
                         
Net assets at beginning of year           44,732   6,051   8,102   58,885
Net assets at end of year           $ 48,525   $ 6,847   $ 8,742   $ 64,114
          ========   ========   ========   ========

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