Condensed Statement of Net Position
| 2015 | 2014 | |
| ASSETS | ||
| Current assets | $ 26,731,772 | $ 28,269,249 |
| Noncurrent assets | 93,185,847 | 96,205,148 |
| Total assets | 119,917,619 | 124,474,397 |
| DEFERRED OUTFLOWS OF | ||
| RESOURCES | 4,390,217 | - |
| LIABILITIES | ||
| Current liabilities | 7,753,840 | 7,272,906 |
| Non-current liabilities | 99,943,423 | 7,183,955 |
| Total liabilities | 107,697,263 | 14,456,861 |
| DEFERRED INFLOWS OF | ||
| RESOURCES | 5,164,405 | - |
| NET POSITION | ||
| Invested in capital assets, | 70,447,308 | 73,258,914 |
| net of related debt | ||
| Restricted: | ||
| Nonexpendable | 8,657,506 | 8,657,506 |
| Expendable | 3,358,791 | 5,849,690 |
| Unrestricted | (71,017,437) | 22,251,426 |
| Total net position | $ 11,446,168 | $ 110,017,536 |
Assets: As of June 30, 2015, total assets amounted to 119.9 million. Of this amount, investment in capital assets (net of depreciation) of 77.1 million, or 64.3% of total assets, represented the largest asset class. Investments amounted to 15.6 million or 13.0% of total assets. During the year, total assets decreased by 4.6 million, primarily due to decreases in student accounts receivable (net of bad debt allowance), grant and loans receivables, and capital assets.
Deferred Outflows: As of June 30, 2015 deferred outflows increased to 4,390,217 due to the implementation of GASB 68, which required the recognition of deferred outflows, deferred inflows and the accrual of net pension liabilities for institutions that participate in cost-sharing defined benefit retirement plans.