Balance Sheets

Assets

Current Assets

Item 2006
(audited)		 2007
(audited)
Cash and cash equivalents 4,600,872 2,557,189
Short-term investments 111,643 115,332
Due from Government of Guam 3,350,000 9,304,754
Tuition receivable, net of allowance of $4,215,818 2,759,869 3,273,600
Due from the U.S. Federal government 1,131,511 996,732
Other receivables 1,187,500 1,592,472
Inventories 614,431 521,466
Other current assets 559,718 1,028,632
Total current assests $14,315,544 $19,390,177

Noncurrent Assets

Item 2006
(audited)		 2007
(audited)
Restricted cash and cash equivalents 3,795,261 3,243,478
Investments 6,241,437 6,984,018
Endowment Investments 8,248,097 9,455,200
Capital assets, net of accumulated depreciation 73,404,534 72,671,727
Total noncurrent assets 91,689,329 92,353,968
TOTAL ASSETS 106,004,873 111,744,145

Liabilities and Net Assets

Current Liabilities

Item 2006
(audited)		 2007
(audited)
Accounts payable and accrued liabilities 4,507,367 3,827,090
Current portion of long-term debt 385,000 370,671
Deferred revenue 4,301,124 4,813,071
Total current liabilities 9,193,491 9,010,832

Noncurrent Liabilities

Item 2006
(audited)		 2007
(audited)
Deposits held on behalf of others 1,583,892 172,213
Accrued annual leave 729,310 1,713,410
DCRS sick leave liability 917,552 1,090,103
Long-term debt, net of current portion 10,864,519 13,153,503
Total noncurrent liabilities 14,095,273 16,129,229
TOTAL LIABILITIES 23,288,764 25,140,061

Net Assets

Item 2006
(audited)		 2007
(audited)
Invested in capital assets, net of related debt 62,389,854 58,885,680
Restricted: Nonexpendable 5,015,944 5,248,224
Restricted: Expendable 7,736,139 7,314,454
Unrestricted: 7,574,172 15,155,726
TOTAL NET ASSETS 82,716,109 86,604,084
TOTAL LIABILITIES AND NET ASSETS 106,004,873 111,744,145

For the complete financial statements and compliance reports for FY2006 and prior, visit the Guam Public Auditor’s website at www.guamopa.org and search on "University of Guam".

Income Statements

Operating Revenues

Item 2006
(audited)		 2007
(audited)
Student tuition and fees, net 8,027,189 8,903,387
Federal Grants and contracts 24,834,075 25,301,423
FEMA disaster recoveries 18,727 0
Tobacco settlement funds - 2,599
Government of Guam grants and contracts 525,087 169,016
Private grants and contracts 717,454 558,452
Sales and services of education department 501,237 531,940
Auxiliary enterprises: 2,225,286 2,417,747
Other revenues 3,042,424 3,578,801
Total operating revenues: 39,891,479 41,463,365

Operating Expenses

Item 2006
(audited)		 2007
(audited)
Instruction 16,834,230 16,679,874
Research 9,673,858 8,888,369
Public Service 6,278,184 6,468,006
Academic Support 6,796,839 6,828,079
Student Services 3,689,970 5,084,277
Institiutional Support 4,760,240 5,453,314
Operations and maintenance, plant 5,359,090 6,580,418
Depreciation 2,241,174 2,487,685
Scholarships and fellowships 7,531,803 8,464,819
Auxiliary Enterprises 2,373,044 2,231,955
Total operating expenses 65,538,432 69,166,796
Operating Revenues net of operating expenses -25,646,953 -27,703,431

Nonoperating Revenues (Expenses)

Item 2006
(audited)		 2007
(audited)
Government of Guam appropriations
Operations 23,698,666 25,963,136
Student Financial Aid Program 2,762,672 3,839,349
Capital expenditure loan repayment 500,000 500,000
Transfer from Yamashita Educator Corps 600,000 1,889,550
Net investment income 857,761 2,003,550
Interest on capital assets - debt related -157,390 -576,523
Debts Services - DOA -2,027,302 -2,027,697
Net nonoperating revenues 26,234,407 31,591,406
Net increase in net assets 587,454 3,887,975

Net Assets

Item 2006
(audited)		 2007
(audited)
Net assets at beginning of year 82,128,655 82,716,109
NET ASSETS AT END OF YEAR 82,716,109 86,604,084