Annual Financial Report B I O L a U N I V E R S I T Y
2010/2011 annual financial report BIOLA UNIVERSITY 2010/2011 annual financial report BIOLA UNIVERSITY BIOLA UNIVERSITY BOARD OF TRUSTEES* Stanley Jantz, Chair of the Board Allan Kavalich Wayne Lowell2, Vice-Chair of the Board Hannah Lee William H. Bauer Edgar Lehman Dean Bursch Bryan Loritts Michael Chang Al Mijares G. Bradley Cole1 David Mitchell Barry H. Corey Ronald D. Rallis, Sr. Dwight L. Hanger1 Gorden Romberger Promod Haque Jerry Rueb Carol Hawkins John Siefker Ray Johnson1 Kennith Thompson David Karnes PRESIDENT Barry H. Corey, Ph.D. PRESIDENT’S ADMINISTRATIVE COUNCIL* Michael A.Pierce, C.P.A., C.M.A., M.B.A. Vice President, Business and Financial Affairs Gregory R. Balsano, B.A. Gregory G. Vaughan, M.A. Vice President, University Services Vice President, Enrollment Management Christopher R. Grace, Ph.D. PRINCIPAL FINANCIAL Vice President, Student Development & University Planning & IT AFFAIRS STAFF Adam J. Morris, Ph.D. Vice President, Advancement David D. Koontz, M.B.A. Senior Director, Financial Management and Reporting Irene E. Neller, M.A. Vice President, University Communications and Marketing Sandra J. Weaver, M.B.A. Senior Director, Financial Planning and Operations David P. Nystrom, Ph.D. Provost and Senior Vice President LEGAL COUNSEL Jerry D. Mackey, Esq. *Current at time of publication 1Indicates Finance and Audit Committee Member (FA) 2Indicates Chair of Finance and Audit Committee TABLE OF CONTENTS A Letter from the Office of Business and Financial Affairs . i BIOLA UNIVERSITY OVERVIEW Mission and History . iii Degrees . vi FINANCIAL STATEMENTS The University Dollar �������������������������������������������������������������������������������������������� viii Independent Auditors’ Report . 1 Consolidated Statement of Financial Position . 3 Consolidated Statement of Activities .
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