Condensed Statement of Net Position
| 2014 | 2013 | |
| ASSETS | ||
| Current assets | $ 28,269,249 | $ 32,521,844 |
| Noncurrent assets | 96,205,148 | 97,130,896 |
| Total assets | $ 124,474,397 | $ 129,652,740 |
| LIABILITIES | ||
| Current liabilities | 7,272,906 | 7,303,864 |
| Non-current liabilities | 7,183,955 | 8,292,611 |
| Total liabilities | 14,456,861 | 15,596,475 |
| NET POSITION | ||
| Invested in capital assets, net of related debt | 73,258,914 | 75,009,634 |
| Restricted | ||
| Nonexpendable | 8,657,506 | 8,657,506 |
| Expendable | 5,849,690 | 5,905,037 |
| Unrestricted | 22,251,426 | 24,484,088 |
| Total net position | $ 110,017,536 | $ 114,056,265 |
Assets: As of June 30, 2014, total assets amounted to $124.5 million. Of this amount, investment in capital assets (net of depreciation) of $80.7 million, or 64.8% of total assets, represented the largest asset class. Investments amounted to $15.3 million or 12.3% of total assets. During the year, total assets decreased by $5.2 million, primarily due to decreases in student accounts receivable (net of bad debt allowance), grant and loans receivables, capital assets, and cash and cash equivalents.
Liabilities: As of June 30, 2014, total liabilities amounted to $14.5 million. Long-term debt includes bonds payable for housing and dining system and energy-related equipment and technology equipment purchased under a Master Lease Agreement. During the year, total liabilities decreased by $1.1 million, primarily due to decreases in bond and lease obligations and in compensated absences.
Net Position: Net position of the University was $110.0 million at June 30, 2014 and was reported in four net position categories: invested in capital assets, net of related debt $73.3 million (66.6%), restricted nonexpendable $8.6 million (7.8%), restricted expendable $5.8 million (5.3%), and unrestricted $22.3 million (20.3%).
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