Autumn leaves

STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED JUNE 30, 2011

General

Diversity Initiatives

Total 2011

Operating

Investment

Research

2010

ASSETS

Current assets:

Cash and cash equivalents

$

4,938,019

$

11,228,798

$

-

$

-

$

16,166,817

$

16,669,451

Accounts receivable, net of allowance for doubtful accounts of $656,445 and $540,906

403,314 161,657

1,216,727

42,688 105,705 42,756

1,259,415

Interest receivable

-

105,705 42,756 291,341

Unrealized gain on futures

-

Inventories

291,341

210,300 997,653

Current portion of test costs

-

-

Debt issuance costs, net of accumulated amortization of $87,004 in 2010

-

-

208,427

Other current assets

1,106,272 7,552,359

1,106,272 18,972,306

1,228,552 19,879,354

-

11,419,947

-

Total current assets

Noncurrent assets:

Interfund receivable (payable)

(3,451,440)

(5,277,777)

6,984,191

1,745,026

-

-

Software development, net of accumulated amortization of $13,746,539 and $13,665,422

182,513

101,396

101,396

Long-term investments

-

169,894,803

169,894,803

154,182,966

Property, plant and equipment, net of accumulated depreciation of $19,608,416 and $17,578,085

15,686,271

1,281,853

16,968,124

16,842,787

-

73,975

Test costs, net of current portion

-

12,336,227

165,898,879

6,984,191

1,745,026

186,964,323

171,282,241

Total noncurrent assets

$

$

6,984,191

$

1,745,026

$

205,936,629

$

191,161,595

$

19,888,586

177,318,826

Total assets

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

$

4,588,996

$

143,181

$

-

$

-

$

4,732,177

$

4,839,818

Unrealized loss on futures

- -

- -

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

Current portion of long-term debt

Current portion of long-term capital lease

29,767 138,787

29,767 138,787 37,295

Accumulated postretirement benefits - current portion

Deferred rental income

37,295

Deferred applicant fees, net Total current liabilities

4,454,996 9,212,546

4,454,996 9,393,022

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

180,476

-

-

Accumulated post-retirement benefits - long-term portion

8,981,633

8,981,633

Long-term debt, net of current portion

-

-

Capital lease long-term portion

79,527

79,527

-

18,273,706

180,476

-

-

18,454,182

34,094,879

Total liabilities

NET ASSETS:

Unrestricted

General operating fund

1,614,880

1,614,880

1,614,880

Investment fund Research fund

177,138,350

177,138,350

147,882,960

6,984,191

6,984,191 1,745,026

5,926,929 1,641,947

Diversity initiatives fund

1,745,026 1,745,026

1,614,880

177,138,350

6,984,191

187,482,447

157,066,716

Total net assets

$

19,888,586

$

177,318,826

$

6,984,191

$

1,745,026

$

205,936,629

$

191,161,595

Total liabilitiesand net assets

33