Accounts, grants and loans receivable consist of the following as of June 30, 2017:
| Student tuition and fees | $ 1,701,852 |
|---|---|
| Student loans | 1,408,399 |
| Grants and contracts | 3,603,156 |
| Other | 17,206 |
| 6,730,613 | |
| Less: allowance for doubtful accounts | (2,125,960) |
| 4,604,653 | |
| Non-current portion | 381,181 |
| Current portion | $ 4,223,472 |
Capital assets as of June 30, 2017, are summarized as follows:
| Beginning Balance | Additions | Reductions | Ending Balance | |
|---|---|---|---|---|
| Cost | ||||
| Land and improvements | $ 6,275,031 | $ - | $ - | $ 6,275,031 |
| Buildings | 154,741,818 | - | - | 154,741,818 |
| Equipment | 22,820,873 | 1,773,925 | - | 24,594,798 |
| Computer software | 1,529,747 | 81,700 | - | 1,611,447 |
| Library holdings | 10,488,366 | - | - | 10,488,366 |
| Transportation equipment | 3,949,603 | 210,974 | - | 4,160,577 |
| Construction in progress | 1,961,371 | 4,690,233 | - | 6,651,604 |
| 201,766,809 | 6,756,832 | - | 208,523,641 | |
| Accumulated depreciation | ||||
| Buildings | 97,037,091 | 2,484,298 | - | 99,521,389 |
| Equipment | 15,988,875 | 1,275,767 | - | 17,264,642 |
| Library holdings | 10,189,120 | 145,051 | - | 10,334,171 |
| Transportation equipment | 3,423,575 | 140,389 | - | 3,563,964 |
| 126,638,661 | 4,045,505 | - | 130,684,166 | |
| Capital assets, net | $ 75,128,148 | $ 2,711,327 | $ - | $ 77,839,475 |
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 $3.5 million to complete and will be completed in fiscal year 2019.
27.