Co n s o l i d a t e d S t a t eme n t s o f F i n a n c i a l P o s i t i o n J u n e 3 0 , 2 0 2 2 a n d 2 0 2 1 ($ in thousands) ASSETS 2022 2021 Current Assets: Cash and cash equivalents $ 33,091 $ 51,484 Restricted cash 11,869 12,090 Investments 343,163 419,168 Tuition and other receivables, net 41,632 34,875 Pledges receivable, current portion, net 15,763 17,638 Prepaid expenses and other current assets 12,532 11,953 Total current assets 458,050 547,208 Pledges receivable, net 27,828 34,066 Bond deposits with trustees - 1,370 Foundation assets 7,085 8,842 Contributions receivable from remainder trusts 234 293 Scholarship funds held in trust by others 3,448 4,176 Designated investments 51,931 67,997 Restricted investments 94,848 107,662 Other investments 281,206 - Restricted cash and cash equivalents 21,422 20,615 Land, buildings, and equipment, net 893,841 916,240 Operating lease right-of-use assets 92,520 83,457 Other assets 21,914 24,916 Total assets $ 1,954,327 $ 1,816,842 LIABILITIES AND NET ASSETS Current liabilities: Accounts payable and accrued liabilities $ 60,180 $ 62,743 Deferred revenue 74,116 67,551 Current portion of long-term debt 13,460 13,525 Operating lease liabilities, current 22,490 14,383 Other current liabilities 24,121 18,515 Total current liabilities 194,367 176,717 Long-term debt 596,031 462,986 Due to beneficiaries under remainder trusts and annuities 105 111 Accrued insurance cost 12,233 12,766 Deferred revenue 11,809 12,505 Operating lease liabilities 73,051 72,565 Other liabilities 24,579 25,106 Total liabilities 912,175 762,756 Net assets: Without donor restrictions $ 854,452 $ 837,843 With donor restrictions 187,700 216,243 Total net assets 1,042,152 1,054,086 Total liabilities and net assets $ 1,954,327 $ 1,816,842 See accompanying notes to consolidated financial statements. 13
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