As of March 2013, net assets reflect a $944,888 increase primarily due to an increase in a gain in market value of endowment investment income, increase in net capital assets, decrease in bonds and capital lease obligations, a decrease in accounts payable and accrued liabilities.

Tuition and fee revenue comparison for March 2013 and 2012 represents a $2.1 million decrease. Net student tuition and fees totals $16.6 million and $18.7 million in March 2013 and 2012 respectively.

Auxiliary revenue comparison for March 2013 and 2012 represents a decrease of $812 thousand.

Operating expenses for March 2013 decreased by $4.6 million compared to operating expenses in 2012. The decrease was primarily due to one month Board approved wage increase granted in December 2011 that is not represented in March 2013 and other decreases in wages.

The Statement of Cash Flows reflects a net decrease of $2.4 million at March 31, 2013. Operations consumed $19.4 million and $25.8 million in March 2013 and 2012, respectively.