Accounts payable and accrued liabilities as of June 30, 2011 and 2010, are as follows:
2011 2010
Payable to vendors and contractors $ 82,500 $ 27,653
Accrued salaries and other liabilities 2,128,077 1,608,134
$ 2,210,577 $ 1,635,787
Deferred revenue consists of the following as of June 30, 2011 and 2010:
2011 2010
Unearned summer school tuition and fees $ 661,763 $ 899,992
Unearned grants and contracts 1,484,244 1,236,072
$ 2,146,007 $2,136,064
Long-term liabilities as of June 30, 2011, are summarized as follows:
| Beginning Balance | Additions | Reductions | Ending Balance | Current Portion | Noncurrent portion |
|---|
| Consolidated Educational Building Revenue Bonds | $ 935,000 | $ - | $ 935,000 | $ - | $ - | $ - |
|---|
| General Receipts Bonds | 4,875,000 | - | 350,000 | 4,525,000 | 360,000 | 4,165,000 |
|---|
| Capital lease obligation | | | | | | |
|---|
| Master Leases | 38,631 | - | 38,631 | - | - | - |
|---|
| Energy Savings | 5,363,699 | - | 390,838 | 4,972,861 | 407,783 | 4,565,078 |
|---|
| Bond discount and issuance costs | (70,720) | - | 13,260 | (57,460) | (3,536) | (53,924) |
|---|
| Total bonds payable and capital lease obligations | 11,141,610 | - | 1,701,209 | 9,440,401 | 764,247 | 8,676,154 |
|---|
| Federal Grants Refundable | 965,947 | 43,973 | 18,211 | 991,709 | - | 991,709 |
|---|
| Total long-term liabilities | $ 12,107,557 | $ 43,973 | $ 1,719,420 | $10,432,110 | $ 764,247 | $ 9,667,863 |
|---|