Condensed Statements of Net Assets
| 2011 | 2010 | 2009 | |
| ASSETS | |||
| Current assets | $ 38,395,850 | $ 30,819,820 | $ 24,432,068 |
| Noncurrent assets | 94,700,547 | 92,557,670 | 89,508,514 |
| Total assets | 133,096,397 | 123,377,490 | 113,940,582 |
| LIABILITIES | |||
| Current liabilities | 7,449,319 | 7,588,173 | 7,477,804 |
| Noncurrent liabilities | 9,667,863 | 10,393,089 | 12,329,490 |
| Total liabilities | 17,117,182 | 17,981,262 | 19,807,294 |
| NET ASSETS | |||
| Invested in capital assets, net of related debt | 73,936,126 | 71,831,353 | 67,690,461 |
| Restricted | |||
| Nonexpendable | 8,594,513 | 8,048,379 | 8,110,728 |
| Expendable | 5,119,673 | 5,063,026 | 4,079,665 |
| Unrestricted | 28,328,903 | 20,453,470 | 14,252,434 |
| Total net assets | $ 115,979,215 | $ 105,396,228 | $ 94,133,288 |
Assets: As of June 30, 2011, total assets amounted to 133.1 million. Of this amount, investment in capital assets (net of depreciation) of 83.4 million, or 62.7% of total assets, represented the largest asset class. Investments amounted to 10.6 million or 8.0% of total assets. During the year, total assets increased by 9.7 million, primarily due to increases in cash and cash equivalents, student accounts, grant and loans receivables, capital assets and investments.
Liabilities: As of June 30, 2011, total liabilities amounted to 17.1 million. Long-term debt includes bonds payable for educational buildings, the housing and dining system, energy-related equipment and technology equipment purchased under a Master Lease Agreement. During the year, total liabilities decreased by 0.9 million, primarily due to a decrease in bonds and capital lease obligations.
Net Assets: Net assets of the University were 116.0 million at June 30, 2011 and were reported in four net asset categories: invested in capital assets, net of related debt 73.9 million (63.7%), restricted nonexpendable 8.6 million (7.4%), restricted expendable 5.1 million (4.4%), and unrestricted 28.3 million (24.4%).