June 30, 2011
Capital Assets
Capital assets, net of accumulated depreciation, totaled $83.4 million at June 30, 2011, an increase of $403,565. Capital assets as of June 30, 2011 and 2010 and significant changes in capital assets during the year are as follows (in millions):
| June 30, 2009 | Net Additions (Reductions) FY 09-10 | June 30, 2010 | Net Additions (Reductions) FY 10-11 | June 30, 2011 | |
|---|---|---|---|---|---|
| Land and land improvements | $ 5.6 | - | $ 5.6 | - | $ 5.6 |
| Buildings, fixed equipment and infrastructure | 114.5 | 27.5 | 142.0 | 3.2 | 145.2 |
| Equipment, vehicles and capitalized software | 25.6 | 2.5 | 28.1 | 0.2 | 28.3 |
| Library materials and art | 9.4 | 0.3 | 9.7 | - | 9.7 |
| Construction in progress | 26.2 | (22.9) | 3.3 | 1.8 | 5.1 |
| Accumulated depreciation | (100.7) | (5.0) | (105.7) | (4.8) | (110.5) |
| Total | $ 80.6 | $ 2.4 | $ 83.0 | $ 0.4 | $ 83.4 |
At June 30, 2011, the University has capital construction projects in progress totaling $5.1 million in scope.
At June 30, 2011, bonds and lease payable amounted to $9.4 million, as summarized below:
| 2011 | 2010 | 2009 | |
| Lease Obligations | 4,972,861 | 5,402,330 | 5,927,416 |
| Consolidated Educational Buildings Revenue | |||
| Bonds | - | 935,000 | 1,825,000 |
| General Receipts Bonds | 4,525,000 | 4,875,000 | 5,215,000 |
| Bond discount and issue costs | (57,460) | (70,720) | (70,720) |
| Total | 9,440,401 | 11,141,610 | 12,896,696 |