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2004-2005 Expenses by Function

2004-2005 Expenses

2004-2005 Revenue

60% 20% 16% 3% 1%

67% Tuition and Fees, Net of Scholarships 14% Auxiliary Enterprises 8% Federal, State and Private Grants 8% Other 3% Contributions

Compensation Operating Expenses Depreciation Auxiliary Enterprises Interest

49% 23% 13% 7% 6% 2%

Instruction and Research Institutional Support Student Services Auxiliary Enterprises Plant Operations Public Service

(All figures in millions of dollars)

Revenue Tuition and Fees, Net of Scholarships Federal, State and Private Grants Contributions Auxiliary Enterprises Other Total

2003-04

2004-05

$32.6

$33.4

4.0

4.0

2.0 6.4 5.6 $50.6

1.7 6.7 3.8 $49.6

Expenses Compensation Operating Expenses Interest Depreciation Auxiliary Enterprises Total

2003-04

2004-05

$30.4

$32.3

10.9

10.7

0.7 8.8

0.8 8.9

1.3 $52.1

1.4 $54.1

Expenses by Function Instruction and Research Public Service Student Services Institutional Support Plant Operations Auxiliary Enterprises Total

2003-04

2004-05

$25.5 1.0 6.5 12.2 3.4 3.5 $52.1

$26.8 0.9 6.9 12.2 3.6 3.7 $54.1

Use of Funds Student Scholarships Capital Spending Debt Retirement Endowment Additions Total

2003-04

2004-05

$14.6 2.2 1.2

$15.6 1.5 0.9

0.4 $18.4

0.4 $18.4

30

The Math, Writing, and Academic Advising Centers were relocated to a newly renovated centralized location on the first floor of the Palumbo Academic Center. An architectural study has been completed to define the scope and cost of the next phase of renovations to the Zurn Science Center. Fire protection system updates, including a fire sprinkler system, have been completed in University Apartments. Upgrades to fire alarm systems in the Nash Library and the Hammermill Center have also been completed. Other improvements on campus include some stair and carpet replacement in the Palumbo Academic Center and the Schuster Theatre; and furniture upgrades in Palumbo Academic Center Classroom 3243, University Apartments, and Kenilworth Apartments. Two additional emergency call boxes have been installed, bringing the total to ten across campus, and four CCTV digital recorders have been installed to replace the outdated VHS system.

The University Bookstore has also been renovated. These renovations include new entrance doors, new lighting, new carpet and linoleum, new and relocated cash register counter, new customer service counter, new shelving units, the addition of a fitting room, the addition of 8 TVs and a sound system, the addition of a kiosk, and new exterior signs. The University will continue to exercise prudent fiscal management and allocate financial resources to ensure that students receive the best possible experience at Gannon both in and out of the classroom. *The University had extraordinary depreciation expense of approximately $5.8 million on donated software that was gifted to the University in November 2000.The software is sophisticated engineering design software that is being used for teaching and research programs.The value of the software was estimated at $29 million and is being depreciated over five years.The University is not funding this depreciation, as the institution does not intend to replace this software in the future.

Profile for Gannon University

Annual Report of the President 2005  

Read all about the amazing changes taking place throughout the year at Gannon! The Annual Report of the President is a year-in-review docume...

Annual Report of the President 2005  

Read all about the amazing changes taking place throughout the year at Gannon! The Annual Report of the President is a year-in-review docume...