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2011-2012 Finance & Facilities Report By Belinda Faulkner, Vice President for Finance am pleased to report that the College has been operating well within its resources. During fiscal year 2011-2012, Louisburg College’s unrestricted operating revenues exceeded unrestricted operating expenses by just over half a million dollars. This is the fifth consecutive year that we’ve enjoyed a budget surplus, with amounts ranging from $450,000 to $600,000.
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The College has used its resources to build programs, address deferred maintenance, restore some of our historic buildings, and reduce debt. These elements of financial planning have strengthened the institution and positioned us for the future. Capital projects completed during 2012 included:
As of May 31, 2012, the College’s total assets were $26,726,672. The value of the College’s endowment was $11,498,112, rebounding from 2008 and 2009 through improved market performance and the gifts of generous donors. Property and equipment, net of depreciation, were valued at $11,559,243. Louisburg College’s long-term obligations on May 31, 2012 were $5,597,016, compared to $8,780,671 five years ago.
• Renovation of the studio, pottery, and classroom section of the Art and Music Building
In short, the College has established a sound financial base for launching itself into the future. As we continue our strategic thinking through the Horizon 2020 planning process, we look forward to even greater progress in the years ahead.
• Improvements to several classrooms and faculty offices
• Renovation of Wright Hall, adding fifty-two beds to that residence hall • New offices for the football coaches • Installation of a new boiler in the library
to “Lou U”
• Completion of the landscaping project in front of Main Building
ouisburg College prides itself on setting the foundation for students’ lifetime journeys. For 2012 alum David Nicholas, his journey covered a bit more distance than most.
David is particularly praising of the Learning Partners program. “Louisburg College helped me learn to pursue any opportunity while it is there. I also learned some new studying skills from the Learning Partners lab.” David lists Learning Partners instructor Kaye Yadusky as one of the people who most influenced him at Louisburg. Also among them are the football coaches, math professor Michael Childs, English professor Leej Copperfield, and director of freshmen Crossroads courses Dr. Louise Mitchum.
“I’m from Ewa Beach, Hawaii,” David explains. In 2010, he graduated from Radford High School in Honolulu, and he chose Louisburg College “to pursue my dream of being the first person in my family to go off to college and play college football.”
“My current goal is to complete a bachelor’s degree in marketing,” he says. “After I achieve that, I intend to pursue my master’s degree.”
Once at Louisburg, David immersed himself in both football and campus activities. When not on the field, he threw himself into Phi Beta Lambda, the business fraternity, for which he was co-vice president. He was also a member of the Hurricane Productions student activities committee, Student Ambassadors, and a campus Bible study.
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With the tools he gained at Louisburg College, David was not afraid to take his next steps in his collegiate career. Upon graduating in May of 2012 with an Associate of General Arts, he was accepted into Bacone College in Muskogee, Oklahoma, with a football scholarship. Bacone offered David the chance to pursue his academic dreams.
With a solid foundation at his back and an “experience of a lifetime” from Louisburg College, David is confident about his future and is the pride of his family. “Honestly, I think my favorite things about my time at Louisburg are the memories and the friendships that I made while attending,” says David, who is currently tackling his second semester at Bacone College. “The advice I would give to freshmen at Louisburg College is to not be nervous, but to be excited. College is an adventure, so enjoy it!”
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