2004-2005 Annual Report

22 Stewardship Report Fiscal 2005 Expenditures Academic Support $11,313,460 Auxiliary Support 9,214,787 Institutional Support 11,436,454 Instructional 25,004,695 Student Aid 7,018,254 Student Services 5,190,703 Total $69,178,353 Giving by Designation Capital Projects/Facilities $2,412,797 Endowment $1,085,910 Operating Budget $3,188,368 Academic Programs 18,183 Bridging the Gap-Scholarships 1,408,175 Bridging the Gap-Unrestricted 888,340 CDR Radio Network 628,130 Christian Ministries 131,575 Yellow Jacket Athletics 113,965 Other $203,374 Total $6,890,449 • Cedarville completed fiscal 2005 with a balanced budget for the 28th consecutive year. • Tuition, fees, and room and board covered 92% of the fiscal 2005 budget; gifts and other revenues covered the remainder. • Cedarville’s costs continued to be 25% below the national average for private higher education. • $.84 of every budget dollar is directly invested in students • $.50 in classroom and teaching instruction • $.10 in direct student aid • $.24 in extracurricular, chapel, and Christian ministry opportunities • Gift income increased 15.4% in fiscal 2005, primarily in funds for student scholarships. • Bridging the Gap-Scholarships included $803,000 from the Scholarship Matching Fund initiative, reflecting the University’s desire to help more students with financial need. • Support for the CDR Radio Network increased nearly 10% in fiscal 2005. • Endowment gifts increased 50% in fiscal 2005, with a strong portion provided by increased bequests to the University.