Wagner College ended its fiscal year 2013-14 with a balanced budget, and we are optimistic about the prospects for continued improvement. Wagner continues to grow its investments, closing the fiscal year with investments totaling $84.5 million. As our financial position has strengthened over the past decade, it has allowed us to make strategic financial decisions that will keep Wagner competitive and support continued educational excellence. Additionally, our recent fixing of the interest on all of the College's debt provides us a clearer vision of the institution's viability as we fiscally plan for the future. Wagner has demonstrated the type of management acumen that leads to excellent decision-making, stability, and continued success.
Wagner College Balance Sheets
Fiscal year ended August 31, 2014 and August 31, 2013
| Assets | 2014 | 2013 |
| Cash and cash equivalents | $12,588,182 | $13,234,833 |
| Accounts receivable, less allowance for doubtful accounts of $775,000 in 2014 and $725,000 in 2013 | $3,464,223 | 2,777,119 |
| Inventory, prepaid expenses, and other assets | 1,354,146 | 1,145,765 |
| Contributions receivable, net | 1,226,364 | 2,657,627 |
| Mortgage receivable | 166,014 | - |
| Notes receivable, less allowance for doubtful loans of $302,000 in 2014 and $396,000 in 2013 | 2,748,756 | 2,766,175 |
| Investments | 84, 496, 563 | 74,400, 092 |
| Amounts held by bond trustees | 4,655,593 | 7,450,281 |
| Bond issuance costs | 2,253,794 | 2,403,633 |
| Property, plant, and equipment, net | 79,909,358 | 77,655,445 |
| Total Assets | $192,972,993 | $184,491,000 |
| Liabilities and Net Assets | 2014 | 2013 |
| Liabilities | ||
| Accounts payable and accrued expenses | $3,133,065 | $4,496,818 |
| Deferred revenue | 15,528,231 | 16,677,814 |
| Student deposits | 432,674 | 455,930 |
| Amounts held for others | 188,659 | 171,326 |
| Postretirement benefit obligation | 93,015 | 94,085 |
| Capital lease obligation | 705,043 | - |
| Other liabilities | 2,144,598 | 2,209,946 |
| Refundable federal grants | 2,957,441 | 2,903,767 |
| Long-term debt | 73,071,385 | 73,290,643 |
| Total Liabilities | $98,254,111 | $100,300,329 |
| Net Assets | ||
| Unrestricted | $24,053,307 | $20,665,511 |
| Temporarily restricted | 30,342,929 | 24,650,504 |
| Permanently restricted | 40,322,646 | 38,874,656 |
| Total Net Assets | $94,718,882 | $84,190,671 |
| Total Liabilities and Net Assets | $192,972,993 |
$184,491,000 |
Wagner College Revenue and Expenses
Fiscal year ended August 31, 2014
