AVERETT UNIVERSITY
Balance Sheet
Fiscal Year Start:
Jul 1
Assets in 2024 (Year End)
$68,836,187
Property, Plant, & Equipment (net)
62%
Investments
14%
Receivables (Non-Related)
11%
Other Assets
9%
Cash & Equivalents
4%
Prepaid Expenses
<1%
Related-Party Receivables
0%
Inventories
0%
Liabilities in 2024 (Year End)
$33,163,536
Tax-Exempt Bond Liabilities
38%
Payables & Accruals
29%
Other Liabilities
17%
Deferred Revenue
9%
Notes Payable / Debt (Non-Related)
5%
Grants Payable
2%
Custodial & Escrow Liabilities
0%
Related-Party Payables
0%
Assets
2023
2024
Change
Cash & Equivalents
$1,339,437
$2,813,521
+110%
Receivables (Non-Related)
$7,472,133
$7,465,278
0%
Related-Party Receivables
-
-
-
Inventories
-
-
-
Prepaid Expenses
$4,487,880
$20,544
-100%
Investments
$24,388,417
$9,678,344
-60%
Property, Plant, & Equipment (net)
$40,930,455
$42,734,063
+4%
Other Assets
$24,734
$6,124,437
+24661%
Total Assets
$78,643,056
$68,836,187
-12%
Liabilities
2023
2024
Change
Payables & Accruals
$5,459,349
$9,627,700
+76%
Grants Payable
$991,314
$774,728
-22%
Deferred Revenue
$2,983,461
$3,076,356
+3%
Tax-Exempt Bond Liabilities
$13,580,000
$12,493,886
-8%
Custodial & Escrow Liabilities
-
-
-
Notes Payable / Debt (Non-Related)
$7,173,727
$1,694,591
-76%
Related-Party Payables
-
-
-
Other Liabilities
$3,872,552
$5,496,275
+42%
Total Liabilities
$34,060,403
$33,163,536
-3%
Net assets
2023
2024
Change
Restricted Net Assets
$34,695,034
$34,339,135
-1%
Unrestricted Net Assets
$9,887,619
$1,333,516
-87%
Net assets
2023
2024
Change
Net assets
+$44,582,653
+$35,672,651
-20%
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