The recent financial history of Athens State University (ASU), as reflected in its annual audited financial statements (2003, 2004, 2005, 2006, 2007, 2008, 2009) demonstrates the financial stability of the University. Total revenues have increased during each of the past six years which has allowed the University to help offset the increase in expenditures over the same period of time. The University’s unrestricted net assets, exclusive of plant and plant-related debt increased each year for the fiscal years 2004 through 2007 and again for the fiscal year 2009. There was a slight decrease for the 2008 fiscal year due to the University making cash payment for a new facility. Additionally, the University has maintained approximately three and one-half months of operating reserves despite statewide proration. These reserve funds are available in the event of future proration and further demonstrate the financial stability of the University.

The University’s financial resources are provided primarily by state appropriations and tuition and fees. The consistent increase in revenue over the past six years is due, in large part, to the steadily increasing enrollment as evidenced in a summary of ASU Enrollment. Enrollment over the past six years has increased both in the number of students enrolled and the total number of credit hours generated.

Additional information on the financial stability of the University can be found in the narrative for Core Requirement 2.11.1.

Additional information on the qualifications of administrative personnel involved with financial management can be found in the narrative for Comprehensive Standard 3.2.8.