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Financial Reports

General

Diversity Initiatives

Total 2010

STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED JUNE 30, 2010

Operating

Investment

Research

2009

ASSETS

Current assets:

Cash and cash equivalents

$

4,943,262

$

11,726,189

$

-

$

-

$

16,669,451

$

13,845,745

Accounts receivable, net of allowance for doubtful accounts of $540,906 and $548,358

362,918

40,396 161,657

403,314 161,657

1,734,919

Interest receivable Other receivable

138,987 478,421 175,472 997,653

-

Inventories

210,300 997,653

210,300 997,653

Current portion of test costs

Debt issuance costs, net of accumulated amortization of $87,004 and $77,875

208,427

208,427

217,556

Other current assets

1,228,552 7,951,112

1,228,552 19,879,354

1,865,044 19,453,797

11,928,242

-

-

Total current assets

Noncurrent assets:

Interfund receivable (payable)

11,210,180

(18,779,056)

5,926,929

1,641,947

-

-

Software development, net of accumulated amortization of $13,665,422 and $13,604,585

182,513

182,513

243,350

Long-term investments

154,182,966

154,182,966

133,576,774

Property, plant and equipment, net of accumulated depreciation of $17,578,085 and $15,234,957

15,536,956

1,305,831

16,842,787

18,198,146 1,071,628

Test costs, net of current portion

73,975

73,975

Other non-current assets

-

-

50,000

27,003,624

136,709,741

5,926,929

1,641,947

171,282,241

153,139,898

Total noncurrent assets

$

34,954,736

$

148,637,983

$

5,926,929

$

1,641,947

$

191,161,595

$

172,593,695

Total assets

LIABILITIES AND NET ASSETS Current liabilities: Accounts payable and accrued expenses

$

4,705,815

$

134,003 578,693

$

-

$

-

$

4,839,818

$

3,479,877

Unrealized loss on futures

-

578,693 700,000 36,311 124,151 42,327

-

Current portion of long-term debt

700,000 36,311 124,151

700,000 44,914 137,605 52,581

Current portion of long-term capital lease

Accumulated postretirement benefits - current portion

Deferred rental income

42,327

Deferred applicant fees, net Total current liabilities

4,705,895 10,272,172 8,667,684 14,400,000

4,705,895 11,027,195 8,667,684 14,400,000

6,560,425 10,975,402 6,927,983 15,100,000

755,023

-

-

Accumulated post-retirement benefits - long-term portion

Long-term debt, net of current portion

Capital lease long-term portion

-

36,311

33,339,856

755,023

-

-

34,094,879

33,039,696

Total liabilities

NET ASSETS:

Unrestricted

General operating fund

1,614,880

1,614,880

1,614,880

Investment fund Research fund

147,882,960

147,882,960

131,075,725

5,926,929

5,926,929 1,641,947

4,959,010 1,904,384

Diversity initiatives fund

1,641,947 1,641,947

1,614,880

147,882,960

5,926,929

157,066,716

139,553,999

Total net assets

$

34,954,736

$

148,637,983

$

5,926,929

$

1,641,947

$

191,161,595

$

172,593,695

Total liabilitiesand net assets

31