Condensed Statement of Net Position
| 2014 | 2013 | |
| ASSETS | ||
| Current assets | $28,269,249 | $32,521,844 |
| Noncurrent assets | 96,205,148 | 97,130,896 |
| Total assets | $124,474,397 | $129,652,740 |
| LIABILITIES | ||
| Current liabilities | 7,272,906 | 7,303,864 |
| Non-current liabilities | 7,183,955 | 8,292,611 |
| Total liabilities | 14,456,861 | 15,596,475 |
| NET POSITION | ||
| Invested in capital assets, net of related debt | 73,258,914 | 75,009,634 |
| Restricted | ||
| Nonexpendable | 8,657,506 | 8,657,506 |
| Expendable | 5,849,690 | 5,905,037 |
| Unrestricted | 22,251,426 | 24,484,088 |
| Total net position | $110,017,536 | $114,056,265 |
Assets: As of June 30, 2014, total assets amounted to 124.5 million. Of this amount, investment in capital assets (net of depreciation) of 80.7 million, or 64.8% of total assets, represented the largest asset class. Investments amounted to 15.3 million or 12.3% of total assets. During the year, total assets decreased by 5.2 million, primarily due to decreases in student accounts receivable (net of bad debt allowance), grant and loans receivables, capital assets, and cash and cash equivalents.
Liabilities: As of June 30, 2014, total liabilities amounted to 14.5 million. Long-term debt includes bonds payable for housing and dining system and energy-related equipment and technology equipment purchased under a Master Lease Agreement. During the year, total liabilities decreased by 1.1 million, primarily due to decreases in bond and lease obligations and in compensated absences.
Net Position: Net position of the University was $110.0 million at June 30, 2014 and was reported in four net position categories: invested in capital assets, net of related debt $73.3 million (66.6%), restricted nonexpendable $8.6 million (7.8%), restricted expendable $5.8 million (5.3%), and unrestricted $22.3 million (20.3%).