Current Ratio
The following financial indicators are provided to assist in the evaluation of the financial health of the College. The indicators are based on the College’s audited financial statements and are calculated using the College’s fiscal year end data. The indicators are not intended to be used as a substitute for a comprehensive review of the College’s financial statements.The current ratio measures an organization’s liquidity serving as an indicator of the ability to meet current obligations. This simple calculation matches the institution’s short-term assets with liabilities expected to come due during the same period. Generally accepted standards for this ratio indicate a 2:1 coverage as being desirable. The numerator is total current assets; the denominator is total current liabilities. Both numbers come directly from the Statement of Net Position.
| Year | Ratio |
| 2024 | 7.23 |
| 2023 | 6.35 |
| 2022 | 5.54 |
| 2021 | 5.36 |
Primary Reserve
The primary reserve ratio compares the level of assets that an organization can quickly access and spend to satisfy its fiscal obligations. In describing the organization’s ability to support current operations from available expendable resources, the ratio measures financial strength of the organization. Expendable net assets should increase at a level commensurate with growth in operational activity. Monitoring this ratio allows a tracking of growth and whether or not growth in resource levels provides an appropriate margin for dealing with opportunity or adversity. The numerator (expendable net assets) is comprised of unrestricted net assets and expendable restricted net assets as reported in the Statement of Net Position. The denominator is comprised of operating expenses as reported in the Statement of Revenues, Expenses, and Changes in Net Position.
| Year | Ratio |
| 2024 | 112.42% |
| 2023 | 82.52% |
| 2022 | 56.31% |
| 2021 | 36.73% |
Return on Net Assets Percentage
This percentage measures economic return in order to determine whether an institution generated or used net assets in a given year. In a for-profit company this ratio is critical to demonstrate a return on invested capital (net assets). In a not-for-profit a return is not necessarily anticipated, thus the not-for-profit designation. Major changes are generally due to major gifts or appropriations for capital investment. </p > The numerator for this formula is increase/ (decrease) in net assets, the denominator is net assets at the beginning of the year. Both are found in the Statement of Revenues, Expenses, and Changes in Net Position.
| Year | Percentage |
| 2024 | 22.15% |
| 2023 | 22.11% |
| 2022 | 27.13% |
| 2021 | 19.39% |
Viability Ratio
The viability ratio indicates the relative liquidity of the organization in measuring the availability of sufficient cash, or other convertible assets, to pay institutional obligations as of the date of the Statement of Net Assets, There are no absolute thresholds for this ratio in that long-term debt need not be paid off at once. Of more importance are long-term trends in direction. Long-term declines would limit the ability to deal with adverse impacts or to take on new projects. The numerator (expendable net assets) consists of unrestricted net assets and expendable restricted net assets. The denominator is total non-current liabilities (e.g., long-term debt). Both are found in the Statement of Net Position.
| Year | Ratio |
| 2024 | 2.50 |
| 2023 | 1.73 |
| 2022 | 1.17 |
| 2021 | 0.67 |
Net Operating Percentage
This percentage compares the net operating income or (loss) to total operating revenues. Accounting principles define State appropriations (in addition to many governmental grants and contracts as of 2007-08) as non-operating revenue. Since expenditures include the use of State appropriations and governmental grants and contracts (as of 2007-08), excluding the revenues will always result in negative Net Operating Revenues for State supported institutions. The more useful ratio is a modified Net Operating Ratio that reflects total revenues, shown following this ratio.</p > The numerator is Operating Income (Loss) as reported in the Statement of Revenues, Expenses, and Changes in Net Position. The denominator is Total Operating Revenues taken from the same report.
| Year | Percentage |
| 2024 | -121.46% |
| 2023 | -148.46% |
| 2022 | -98.43% |
| 2021 | -162.99% |
Contribution Percentage
These ratios measure specific revenue sources as a percentage of total operating expense. Analyzing these sources is important to ensure that revenues keep pace with expenses over time. Diversification in revenue streams is important in insulating the institution to some degree from fluctuations in primary sources. The numerator for this formula is the revenue sub-category listed on the Statement of Revenues, Expenses, and Changes in Net Position, the denominator is Total Operating Expenses.</p >
Contribution Percentage - Operating
| 2024 | |
| Tuition & Fees | 13.45% |
| Grants & Contracts | 14.04% |
| Sales & Services Aux Enter | 4.87% |
| Other Income | 16.94% |
| 2023 | |
| Tuition & Fees | 13.74% |
| Grants & Contracts | 24.26% |
| Sales & Services Aux Enter | 4.62% |
| Other Income | 1.14% |
| 2022 | |
| Tuition & Fees | 13.51% |
| Grants & Contracts | 36.49% |
| Sales & Services Aux Enter | 2.29% |
| Other Income | 0.56% |
| 2021 | |
| Tuition & Fees | 14.88% |
| Grants & Contracts | 22.02% |
| Sales & Services Aux Enter | 3.29% |
| Other Income | 0.26% |
Contribution Percentage - Non-Operating
| 2024 | |
| County Property Taxes | 76% |
| State Aid | 19.14% |
| Investment Income | 2.95% |
| 2023 | |
| County Property Taxes | 75.9% |
| State Aid | 19.6% |
| Investment Income | 1.75% |
| 2022 | |
| County Property Taxes | 62.8% |
| State Aid | 18.5% |
| Investment Income | 0.26% |
| 2021 | |
| County Property Taxes | 66.50% |
| State Aid | 19.31% |
| Investment Income | 0.06% |
Debt Burden Percentage
This percentage compares the level of debt service (principal and interest payments) with the institution’s operating expense, thereby measuring an organization’s reliance on debt as a source for financing its mission. Higher percentage indicate fewer resources being available for other general operating purposes.
As a measure of the relative cost of debt to overall expenses, a declining trend is generally desirable. The percentage can spike during times of specific funding activity. Investment bankers set an upper threshold of 7% for this percentage.
The numerator includes required principal and interest payments (plus any other required additions to reserves or renewal and replacement fund), as reported on the Statement of Cash Flows. The denominator is total operating expenses, as reported on the Statement of Revenues, Expenses, and Changes in Net Position.
|
Year |
Ratio |
|
2024 |
5.62% |
|
2023 |
5.75% |
|
2022 |
4.58% |
|
2021 |
4.80% |
Debt Coverage Percentage
This percentage measures the excess income available for covering annual debt service (principal and interest) payments. A high percentage is therefore a positive indicator that the organization has sufficient income to meet debt obligations.
The numerator for this percentage includes changes in unrestricted net assets plus interest expense and depreciation expense. The denominator consists of required annual debt service (principal and interest payments).
|
Year |
Percentage |
|
2024 |
755.03% |
|
2023 |
593.68% |
|
2022 |
657.09% |
|
2021 |
115.00% |
Demand Percentage
Demand percentage describe the ten functional classifications of educational and general expenses, as a percentage of total operating revenues. Trends in the ten categories indicate whether they are consuming more or less of an institution’s revenue stream.
The particular percentage can also be valuable for inter-institutional comparisons, to determine where an organization places its emphasis. The formula’s numerator is the specific functional expense category, as defined in the notes to the financial statements. The denominator is total operating revenues, reported on the Statement of Revenues, Expenses and Changes in Net Position.
| 2024 | |
| Instruction | 23.46% |
| Research | 0.28% |
| Public Service | 0.00% |
| Academic Support | 6.43% |
| Student Services | 7.37% |
| Institutional Support | 11.87% |
| Student Aid | 8.18% |
| Auxiliary Enterprises Expenditures | 2.67% |
| Service Units (Other) | 7.64% |
| 2023 | |
| Instruction | 26.41% |
| Research | 0.29% |
| Public Service | 0.00% |
| Academic Support | 6.71% |
| Student Services | 7.25% |
| Institutional Support | 12.50% |
| Student Aid | 7.91% |
| Auxiliary Enterprises Expenditures | 2.62% |
| Service Units (Other) | 7.23% |
| 2022 | |
| Instruction | 27.37% |
| Research | 0.21% |
| Public Service | 0.00% |
| Academic Support | 7.56% |
| Student Services | 6.65% |
| Institutional Support | 8.62% |
| Student Aid | 14.79% |
| Auxiliary Enterprises Expenditures | 2.50% |
| Service Units (Other) | 10.92% |
| 2021 | |
| Instruction | 27.98% |
| Research | 0.31% |
| Public Service | 0.00% |
| Academic Support | 7.18% |
| Student Services | 9.10% |
| Institutional Support | 13.22% |
| Student Aid | 0.74% |
| Auxiliary Enterprises Expenditures | 3.56% |
| Service Units (Other) | 22.12% |