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Mon Feb 18, 2013, 07:22 AM

See how Michigan universities' growing net assets compare to tuition increases

http://www.freep.com/article/20130218/NEWS06/302180018/1317/headlines/See-how-Michigan-universities-growing-net-assets-compare-to-tuition-increases-%28database%29

Tuition at Michigan's universities is up 11.7% from the 2008-09 school year. Over the same period, the total unrestricted net assets of those schools as increased by 52.4%.









UniversityAscending/ 2012-13 tuition/2012 unrestricted assets/2009-10 tuition 2009 unrestricted assets/ 2008-09 tuition /Change in tuition/Change in unrestricted assets

All universities $10,870.00 $4,136,507,067.00 $9,394.08 $2,945,581,475.00 $8,833.15 15.71% 40.43%

Central Michigan $10,956.00 $279,700,000.00 $9,248.00 $196,100,000.00 $8,190.00 18.47% 42.63%

Eastern Michigan $9,048.00 $29,300,000.00 $8,399.00 $65,600,000.00 $8,091.00 7.73% -55.34%

Ferris State $10,710.00 $118,300,000.00 $9,480.00 $84,500,000.00 $9,000.00 12.97% 40.00%

Grand Valley $10,330.00 $170,095,000.00 $8,845.00 $120,226,000.00 $8,400.00 16.79% 41.48%

Lake Superior State $9,671.00 $4,840,117.00 $8,315.00 $1,901,844.00 $7,925.00 16.31% 154.50%

Michigan State $13,211.00 $772,000,000.00 $11,383.00 $564,000,000.00 $10,691.00 16.06% 36.88%

Michigan Tech $14,448.00 $8,646,427.00 $12,278.00 $9,884,730.00 $11,616.00 17.67% -12.53%

Northern Michigan $8,766.00 $89,105,865.00 $7,510.00 $78,727,901.00 $7,128.00 16.72% 13.18%

Oakland $10,706.00 $145,330,000.00 $9,188.00 $96,676,000.00 $8,427.00 16.52% 50.33%

Saginaw Valley $8,120.00 $41,393,000.00 $6,900.00 $32,120,000.00 $6,492.00 17.68% 28.87%

University of Michigan* $13,819.00 $2,526,000,000.00 $12,400.00 $1,539,745,000.00 $11,738.00 11.44% 64.05%

Wayne State $10,989.00 $9,319.00 $232,000,000.00 $8,751.00 17.92%

Western Michigan $10,536.00 ($48,203,342.00) $8,858.00 ($75,900,000.00) $8,382.00 18.94% 36.49%

Sorry about the format....Demeter

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Reply See how Michigan universities' growing net assets compare to tuition increases (Original post)
Demeter Feb 2013 OP
Divernan Feb 2013 #1
Demeter Feb 2013 #2

Response to Demeter (Original post)

Mon Feb 18, 2013, 07:32 AM

1. Gotta keep that supply of human fodder going to Walmart & the War Economy!

Cannon fodder & part-time/no bennies Walmart employees don't need no stinkin' college degrees!

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Response to Demeter (Original post)

Mon Feb 18, 2013, 07:50 AM

2. More than $4B in unrestricted funds held by Michigan universities is for projects, not tuition cuts

http://www.freep.com/article/20130218/NEWS06/302180110

It might look like a pot of gold at the end of the rainbow to parents and students weary of years of tuition hikes: $4.1 billion in unrestricted net assets sitting on the books of Michigan's public universities. But the money isn't available for tuition cuts; it's already committed to building projects. "It's not simply a pot of money sitting out there," said Ferris State University spokesman Marc Sheehan.

The money -- down from the $4.2 billion listed at the end the 2010-11 school year -- is noted in university financial statements as "unrestricted." That means there are no external conditions, either from donors or grant givers, on how it can be spent; it can be transferred from budget line to budget line by administrators or a board vote. The total doesn't include Wayne State University, which runs on a financial year different from other schools...

"I know we keep repeating this, but it's very important: Net assets (are) not a substitute for recurring operational revenue or spending cuts," University of Michigan spokesman Rick Fitzgerald said in an e-mail to the Free Press. "Net assets are best used for one-time expenses, like the important deferred maintenance of our facilities that we are systematically addressing."

Six Michigan universities saw declines in the amounts listed as unrestricted net assets from the 2010-11 school year to 2011-12. Five saw increases. Another, Western Michigan University, uses a different accounting method that results in a listing of negative unrestricted net assets.

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