Financial Activity and Condition Taxpayer Summary
Educational Services and Unrestricted Net Assets
Educational Services Expenses by Classification
Educational services expenditures totaled $63 million in 2005 and increased 1% between years due to rising insurance costs which were offset by the college's efforts to streamline processes and reduce costs.. Educational services refer to: Unrestricted Net Assets Nearly $27 million of the $36 million of 2005 unrestricted net assets is for actuarially calculated post-employment benefit liabilities for current and retired employees that are not recognized on the statement of net assets due to current governmental accounting standards. These unrestricted assets help provide operational working capital that eliminates the need for short-term borrowing and help to support WCTC's AAA bond rating.
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