Current liabilities for February 2014 and June 2013 amounts to $7.3 million and $7.3 million, respectively, consisting of accounts payable and accrued payroll liabilities. Accrued compensated absences total $2.0 million and Deferred Revenue totals $1.2 million as of February 2014.

As of February 28, 2014, net assets reflect a $10.7 million increase over June 2013, primarily due to $11.1 million increase in current assets. This increase is primarily due to an increase in cash and cash equivalents, which is attributable to Fall 2013 and Spring 2014 student grants money and State Appropriations received.

Tuition and fee revenue comparison for February 2014 and March 2013 represents a $1.1 million decrease. Net Student Tuition & Fees totals $15.5 million and $16.6 million as of February 2014 and March 2013, respectively.

Auxiliary revenue comparison for February 2014 and March 2013 represents a $230 thousand increase.

Operating expenses as of February 2014 decreased $5.5 million compared to March 2013. Expense reduction was across the board, with the exception of Student Aid, which is $426 thousand over last year.

The Statement of Cash Flows reflects a net increase of $8.9 million at February 2014. Operations consumed $14.5 million and $19.4 million as of February 2014 and March 2013, respectively.

As of February 28, 2014, we are through 66.67% of the annual fiscal budget period. Total expenditures were 62.76%, which is 3.91% under budget. Total revenue was 84.95% of total budget, due to receipt of state appropriations, tuition and auxiliary charges recognized in the fall and spring terms. The result is a $10.7 million surplus, of which $9.2 million is E & G, $2.3 million Auxiliary, and $385 thousand Land Grant.