Accounts, grants and loans receivable consist of the following as of June 30, 2018:
| Student tuition and fees | $ 2,421,086 |
|---|---|
| Student loans | 1,262,458 |
| Grants and contracts | 3,629,310 |
| Other | 17,350 |
| 7,330,204 | |
| Less: allowance for doubtful accounts | (2,007,199) |
| 5,323,005 | |
| Less: non-current portion | (235,240) |
| Current portion | $ 5,087,765 |
Capital assets as of June 30, 2018, are summarized as follows:
| Beginning Balance | Additions | Reductions/ Transfers | Ending Balance | |
|---|---|---|---|---|
| Cost | ||||
| Land and improvements | $ 6,275,031 | $ - | $ - | $ 6,275,031 |
| Buildings | 154,741,818 | 446,243 | - | 155,188,061 |
| Equipment | 24,594,798 | 746,054 | - | 25,340,852 |
| Computer software | 1,611,447 | 8,923 | - | 1,620,370 |
| Library holdings | 10,488,366 | 159,705 | - | 10,648,071 |
| Transportation equipment | 4,160,577 | 203,484 | - | 4,364,061 |
| Construction in progress | 6,651,604 | 3,396,753 | 446,243 | 9,602,114 |
| 208,523,641 | 4,961,162 | 446,243 | 213,038,560 | |
| Accumulated depreciation | ||||
| Buildings | 99,521,389 | 2,310,432 | - | 101,831,821 |
| Equipment | 17,264,642 | 2,757,422 | - | 20,022,064 |
| Library holdings | 10,334,171 | 11,304 | - | 10,345,475 |
| Transportation equipment | 3,563,964 | 357,468 | - | 3,921,432 |
| 130,684,166 | 5,436,626 | - | 136,120,792 | |
| Capital assets, net | $ 77,839,475 | $ (475,464) | $ 446,243 | $ 76,917,768 |
Construction in progress consists primarily of a project to repair and replace boilers and distribution lines. It is estimated that it will cost an additional $1.4 million to complete and will be completed in fiscal year 2019.
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