The 1999 balance sheet totals and the 1999 totals on the statement of changes in fund balances and the statement of current funds revenues, expenditures and other changes have been presented for comparative purposes only.
 

C.  ACCOUNTS RECEIVABLE AND STUDENT LOANS:

 Accounts receivable of $15,276,000 in the current fund group at June 30, 2000, are principally comprised of receivables from the federal government and student accounts receivable.  The student accounts receivable are carried net of an allowance for doubtful accounts of $265,000.

 Student loans receivable of $34,600,000 in the loan fund group at June 30, 2000, are carried net of an allowance for uncollectible loans of $2,728,000.

 The United States Government Capital Contribution fund balance at June 30, 2000 includes net University matching funds of $1,220,000.
 

D.  LAND, BUILDINGS AND EQUIPMENT:

 Land, buildings and equipment are stated at cost or, in the case of gifts, at the fair value at the date of donation.

 Depreciation is calculated using the straight-line method with estimated useful lives of forty years for buildings, sixteen years for fixed equipment, and five years for movable equipment.  Depreciation for fiscal year 2000 is $5,869,000 for buildings and $1,998,000 for movable and fixed equipment.

 At June 30, 2000, $4,157,000 unexpended plant funds and $13,751,000 funds for renewals and replacements have been internally designated for plant purposes.  At June 30, 2000, plant assets, net of accumulated depreciation, consisted of land, $8,774,000; buildings, $145,605,000; and equipment, $10,631,000; total accumulated depreciation at June 30, 2000 is $147,825,000.
 

E.  BONDS AND NOTES PAYABLE:

 Bonds and notes payable at June 30, 2000 amount to $75,406,000 and $111,000, respectively.  The table below summarizes the components of bonds and notes payable at June 30, 2000.  The maximum aggregate amount of maturities and sinking fund requirements for all long-term borrowings approximate $6,150,000 for each of the five years ending June 30, 2005.

 In compliance with the University's various bond indentures, at June 30, 2000 the University has deposits with trustees of $44,068,000 for debt service reserves, sinking funds, other requirements and unspent 1998 General Obligation Bond Proceeds.  Deposits with trustees are invested in obligations of the U.S. Government as required by the University's bond indentures.