2005-06 Year End Financial Statements (bud 40)

2005-06 Year End Financial Statements (bud 40)

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~TIOCH UNIVERSITY
REPORT TO THE
BOARD OF TRUSTEES
2005-06 Year End Financial Statements
2006-07 First Quarter Performance
November 2-4,2006

TABLE OF CONTENTS
………………………………………………………………………. Introduction
2005-06 Year-End Financial Statements
Antioch University Summaries ………………………………………
Antioch College ………………………………………………………….
…………………………………………………………… Glen Helen
Antioch New England ………………………………………………….
Antioch Seattle …………………………………………………………..
Antioch Southern California ……………………… : …………………
Antioch University McGregor ………………………………………..
Ph.D. in Leadership & Change ……………………………………..
University Administration ……………………………………………..
…………………………………………………….. Antioch Review
WYSO Radio …………………………………………………………
…………………………………………………………………… Endowments
2006-07 First Quarter Budget Performance
2006-07 First Quarter Performance ……………………………….
Antioch University Summaries ………………………………………
Antioch College ………………………………………………………….
Glen Helen ……………………………………………………………
Antioch New England ………………………………………………….
Antioch Seattle …………………………………………………………..
Antioch Southern California ………………………………………….
Antioch University McGregor ………………………………………..
Ph.D. in Leadership & Change ……………………………………..
University Administration ……………………………………………..
Antioch Review ……………………………………………………..
WYSO Radio …………………………………………………………

ANTIOCH UNIVERSITY
REPORT TO THE BOARD OF TRUSTEES
November 2-4, 2006
I. INTRODUCTION
This report contains financial information concerning the performance of the
University, its campuses and associated units during fiscal year 2005-06. Actual
enrollments at the campuses and the resulting tuition revenue for 2005-2006 are
charted for your review. The report also addresses the fiscal year 2006-2007
enrollments and problems or concerns, if they are projected, for FY07 in enrollments
and/or
the approved budget. At the time of printing this report the FY06 audit has
not been finalized but the numbers and enrollments stated are accurate to the best
of our knowledge and are not anticipated to have any significant adjustments. The
audited financial statements, completed by Hausser & Taylor LLC from Columbus,
Ohio will be available for your review at the next board meeting or a copy can be
provided at your request.
The information contained in this report is presented using the Financial Accounting
Standards Board (FASB) 11 7 reporting standards that became mandatory for
independent colleges and universities on July 1, 1995. The objective of this FASB
reporting standard is to enhance the relevance, clarity and comparability of financial
statements issued by not-for-profit organizations, regardless of the nature of their
operation or mission.
II. FORMAT AND CONTENT
The 2005-06 Year-End Financial Review section contains summary schedules for
the entire University and similar schedules for each campus, the University
Administration, Glen Helen, WYSO Radio, the Antioch Review and
Ph.D.
in
Leadership and Change. Campus enrollments and resulting tuition is charted for
each campus for the 2005-2006 academic year. Each campus and operating unit
has prepared narrative descriptions of the significant events that caused the unit to
deviate from its budget. The narratives also provide an opportunity for the President
or unit manager to describe the problems he or she has dealt with during 2005-2006
fiscal year.
The 2006-2007 Financial Projection section contains the 2006-2007 budget
financial information as approved by the board and a reconciliation of the
enrollments as approved on the budget to the tuition levels. The narratives provide
another opportunity for the President or unit manager to discuss problems or
concerns with the FY07 budget and planned actions to alleviate these problems.
Future board reports will continue to monitor enrollments and the budgets on a

quarterly basis and give the Presidents or unit managers opportunities to discuss and
implement mid year corrections.
111. THE FUNCTION SCHEDULE
The schedule in this report has been modified from past reports. We have combined
the detailed revenue section and have reported the findings from this against the
expenditures by category such as salaries & wages, supplies, etc in total. By
combining the information from two previous schedules the information is only
presented to the board once and avoids duplication. In the Revenues section of this
schedule is a reference to
“E&GJ’.
This abbreviation stands for Educational and
General and the Total E&G lines show the Revenues of all functions other than
those that are classified as Auxiliary Enterprises. The E&G subtotals are provided to
simplify comparison of the revenues of the primary missions of the University while
excluding “support functions” that are not part of the primary missions. Auxiliary
Enterprises include dining services, housing, bookstore, space rental, parking and
similar “businesses”.
An additional Revenues item that appears below the Total E&G Revenue totals is
Released from Restrictions. The amounts on this line reflect funds that were initially
received by the University or Campuses for specific purposes and held until they
could be spent to further the specific purpose.
~ost
of this money represents gifts or
bequests that have been provided for such things as scholarships or specific
program initiatives. Much of the funding of this type is expended in the year it is
received, but Restricted Funds are often held for several years until they can be
expended in accordance with the conditions set out by the donor. For example,
scholarship funds that provide for students with certain types of abilities or needs will
not be expended until such students can be identified. Restricted Funds do not
become part of the Operating Budget until released. Prior to being transferred to the
Operating Budget, Restricted Funds are carried in the accounts of the University and
invested in accordance with University policy. Neither the administration nor the
Board of Trustees can impose restrictions on unrestricted funds; only donors can
create restricted funds.
Because restricted revenues do not become part of the unrestricted operating funds
of the University until they are Released from Restrictions, the amounts shown for
Gifts
aid
Grants may vary from the figures reported by the Development Offices for
the same period. The Development Offices report gifts and pledges as they are
received. The Accounting Offices report gifts shown in this report on an accrual
basis, or, when they are received released from restrictions. Pledges are
commitments that will be realized at a future date and are not expendable until the
funds are actually received. Funds that are given for a restricted purpose are
invested until they can be expended for the purpose specified by the donor.
FASB 11 7 requires the presentation of information on an accrual basis, but the
actual management of the University also depends on maintaining an appropriate
cash flow so that current obligations can be met. The schedules in this Report

contain a Conversion to Cash Basis section that identifies those expenses and
revenue sources that must be considered when adjusting from an accrual basis to a
cash basis. These items are primarily concerned with equipment and facilities
expenditures which, although occurring in one fiscal year, are depreciated over their
useful life. Accumulated depreciation is shown as an offset to the Depreciation
Expense that is included as a part of the Plant Maintenance function. Borrowing
proceeds, if any, associated with the expenditures shown are reflected on a separate
line as are the Principle Payments necessary to retire the loans of previous years.

2005-06 Year-End
Financial Review

Revenues
Tuition & Fees
Less Tuition Discounts
Net Tuition and Fees
Gifts
Grants
Endowment Income
Contracts
Other Income
Total E&G Revenue
Auxiliary Enterprises
Released From Restrictions
Overhead for Central
OperationsISubsidy
Total Revenues
Operating Expenses
Salaries & Wages
Benefits
Training & Development
Student Aid Services
Special Events
Supplies
Business Operations
Plant Maintenance
Interest Expense
Resale Costs
Miscellaneous
ContingencyIReserves
Campus Contingency, Mandatory
Campus Contingency, Discretionary
Capital Reserve
Overhead
To the University
Other (Intercampus Agree & Univ Conf)
Depreciation
Total Operating Expenses
Excess Revenue over Expenses
Annual Budget Conversion to Cash Basis
Capital Expenditures
Borrowing Proceeds
Principal Payments
Prior Year Reserves
Add back Depreciation
Total Cash Items
Net Cash Basis Budget
Antioch University
2005-06 Actual Summary

ANTIOCH COLLEGE
2005-06 Year-End Review
Summary
Antioch College total revenue for FY2005-2006 was under budget by $2,611,949.
Revenue shortfall was primarily due to less gifts. Enrollment related net tuition
revenue and auxiliary revenue were less than budget by 6% and 7% respectively.
Total expenses were under budget by $1 ,I 68,723 (6%).
Total actual deficit of $1,443,226 was better than the June 2006 projected deficit of
$1,718,559 due to expense control and improved tuition discount.
Revenue
Net Tuition revenue was under budget by 6%, or $41 9,347 due to enrollment. AEA
represented $220,289 net tuition under budget, or about half of the total. Degree
student tuition was under budget by about 3.7%.
AEA tuition revenue was under budget for Japan, Europe, Mexico, and Mali. AEA
tuition revenue exceeded budget for India, Germany and Brazil.
It is important to note that while tuition and fees were under budget, spending for
related instruction expense was much lower than budget. For example, AEA tuition
and the related expenses were both lower but overall AEA finished the year with net
revenue and expense contribution of $249,000 higher than budget.
Our total discount rate for the entire student body was equal to the budgeted
discount rate of 39%. This discount rate was better than the prior two years.
A $700,000 gift received in June was recorded as grant income and when this is
added with all other gifts, the College was under budget by $1,522,948.
Endowment income exceeded budget by $56,159 while miscellaneous income was
under budget by $161
,I
14 due to a delay in the sale of real estate.
Released from restricted revenue was under budget by $300,519 primarily due to
lower related expenses for the capital campaign and implementation funds.
Total auxiliary income was under budget by $178,617. The combined housing and
dining revenue was under budget by $87,463 due to enrollment. Dining revenue
included expanded internal and external customer food service sales. The coffee
shop was about $12,000 under budget, and the bookstore revenue was under

budget by $78,861. Any gain or loss of the coffee shop is absorbed by adjustments
to the Community Government student budget.
Expenses
Salaries and benefits were under budget by $429,762 and $251,902 respectively.
This is because of delayed King Center staffing, faculty staffing changes, lower
student work study, lower AEA enrollment, and some administrative staff changes.
Training and development was under budget by $1 31,425 and special events was
under budget by $38,773 due to lower spending in AEA, implementation, and capital
campaign funds.
Student Aid expenses were $1 10,721 under budget due to less scholarships.
Business operations category was over budget by $29,994 primarily because of
extraordinary marketing and admissions implementation expenses for the Plan for
Antioch (“implementation”). However, taken as a whole Marketing, Admissions and
all other categories of implementation funds were very close to budget.
Plant was $34,332 under budget due to reduced spending, lower benefits and
utilities (water, electric and heat). While natural gas heating expenses exceed
budget, other utilities were lower resulting in a net under budget of
$24k.
Resale cost of goods sold was under budget by $50,559 due to lower bookstore
sales.
Auxiliary expenses were only $14,597 under budget because high fixed cost of
physical facilities. Plant and energy expenses are planned to be less in
FY2007
due
to demolition of one residence hall and some energy conservation savings.
Other Budget Action Plans:
We have renewed our efforts to increase student satisfaction and retention.
Analysis of admissions and financial aid packaging matrix data is being used
to target admissions recruiting.
Residence hall and dining net revenue and expense was $125,372 under
budget primarily due to higher fixed costs for residence halls. Bookstore
sales margin was better than last year but it operated at a loss. Near the end
of June we implemented lower cost staffing mix changes for one position
each in the bookstore, custodial and dining.
Expense reductions have been accomplished with selected hiring delays.
More Auxiliary revenue is expected for summer events to help offset lower
revenue during the Summer term.
Labor agreement was negotiated within the
FY2007
budget assumptions.
Steven
Lawry
President

Antioch College
2005-06 Actual Summary
Revenues
Tuition & Fees
Less Tuition Discounts
Net Tuition and Fees
Gifts
Grants
Endowment Income
Contracts
Other Income
Total E&G Revenue
Auxiliary Enterprises
Released From Restrictions
Subsidy
Total Revenues
Operating Expenses
Salaries & Wages
Benefits
Training & Development
Student Aid Services
Special Events
Supplies
Business Operations
Plant Maintenance
Interest Expense
Resale Costs
Miscellaneous
ContingencyIReserves
Campus Contingency, Discretionary
Other (Intercampus Agree & Univ Con
Depreciation
Total Operating Expenses
Excess Revenue over Expenses
Annual Budget Conversion to Cash Basis
Capital Expenditures
Principal Payments
Add back Depreciation
Total Cash Items
Net Cash Basis Budget
787,752
41 1,515
-1,374,955
-175,688
-1,154,259
882,948
3 1 5,000
-1 , 379 9 882
1,737,756
330
000 t
-1 , 475 , 000
……………. ……… -24.4~::2@ !.: ………… ! ……….
~~~$SQ@ …………………… ……. ……………………… …………………………
~~w~^$.Q~: ………. , …….., ……
-1 81 9 934 ….>;%&agyoys: ……..+.. ,..-…
::..::,:A::: …. 3 …. :.. ………………………. …………………………………. ……………………………. ……………………………………. ………………
1 81 7 476 ~;~~$~~;.~:@sI& ……… ,..: …. ,. ….
~.;:;.;~~Qz~: …………. + ……. …………. ………………………… … :.:.:.:.:.:.:
~:~~~.~~, ………………… 0′ ……………………
>==@ …….. ,… :. :….
40.42%
0.00%
5.00%
592,756Wfm.SSTf ……….. ,. … ………….. …: ::.:.: ….. :.:.:.:.:..:. ::. :.,>:..:.:.:,: ………………………………… ………………………. …………… :…. …………………….
-592 j 756 :3:;;$2:~$9486. . T
130.96%
-374.44%

Antioch College
Final Enrollment Report
2005 -2006 Academic Year
Footnotes:
1. All FTE and Tuition are FY2006 actual amounts.
2. Tuition revenue is tuition and fees.
3. Summer term begins in June and ends in August and is allocated between fiscal years. Therefore two summer terms are shown.
4. Summer allocation of $ tuition is 39% and 61% between fiscal years.
5. Tuition rate is an average per term rate.
6. Tuition and fee increases begin in the Fall term, so summer terms have different rates.
7. FTE is full time head count plus one third part time head count.
8. * Note: comparison of next fiscal year to this fiscal year will be distorted because 1st year class has 2 terms for Core program vs. 3 terms for Old program
9. * Total enrollment column is a cumulative total of FTE by term and does not reflect enrollment (also see note #8)
10. FY2005-2006 is the last summer residential academic trimester term

Antioch College
Final Enrollment Report
2005 -2006 Academic Year
Footnotes: 1,3,4,7,10 6’7 7 1, 3,4,7, 10 3, 4, 7, 8, 9 2, 5, 8, 10 1,2 1
Footnotes:
1. All FTE and Tuition are FY2006 actual amounts.
2. Tuition revenue is tuition and fees.
3. Summer term begins in June and ends in August and is allocated between fiscal years. Therefore two summer terms are shown.
4. Summer allocation of $ tuition is 39% and 61% between fiscal years.
5. Tuition rate is an average per term rate.
6. Tuition and fee increases begin in the Fall term, so summer terms have different rates.
7. FTE Is full time head count plus one third part time head count.
8. * Note: comparison of next fiscal year to this fiscal year will be distorted because 1st year class has 2 terms for Core program vs. 3 terms for Old program
9. *Total enrollment column is a cumulative total of FTE by term and does not reflect enrollment (also see note #8)
10. FY2005-2006 is the last summer residential academic trimester term

GLEN HELEN ECOLOGY INSTITUTE
2005-06 Year-End Review
General Notes: FY 2005-06 represented a period of significant transition for the
Glen Helen Ecology Institute (GHEI). The budget was prepared by Bob Whyte, the
outgoing Executive Director, but operations of the GHEI were overseen largely by
Ann Shaw and George
Bieri,-interim
co-directors. The torch passed again on June
1,2006, when I took over leadership of the GHEI in time for the last month of the
fiscal year. The original budget for FY 05-06 did not include salary for an Executive
Director. As such, the budget was revised to accommodate interim directors and
later the E.D. Additionally, several unanticipated emergency building repairs were
required. These were largely funded by outside gifts, primarily from the Glen Helen
Association and Yellow Springs Community Foundation.
Gifts ($25,270 unfavorable): However, unrestricted annual fund gifts, including
Morgan Society, were short of the $70,000 budget by $24,400. Still, annual gifts
were higher than the previous year by $18,000. The end result was a shortage from
budget but a significant increase from
FY05.
Auxiliary Enterprises ($5,000 favorable): Outdoor Education Center (OEC)
weekend rentals were overstated by $1 3,600, which belonged in the prior year.
Summer Honors Institute contributed $4,000 of unbudgeted room and board
revenue. Rental of the Birch mansion had a loss of $6,180. Despite these setbacks
auxiliary income was recorded above budget.
Supplies ($9,429 favorable): Savings included $1,500 in copier expense and
$4,000 in OEC food as a result of lower school camp enrollment. $1,300 originally
budgeted for Trailside Museum went unused because the program was rolled into
OEC. $800 of the equipment supply budget also was unused.
Business Operation ($8,224 favorable): These costs were a result of fulfilling the
terms of the Ohio Department of Education ($8,400) and Ohio Department of
Natural Resources ($4,600) grants.
Plant Maintenance ($1 5,579 favorable): Several urgent building repairs were
conducted in FY 05-06, including a corner of the lodge roof at the Outdoor
Education Center and major
heating/cooling
work on the HVAC systems of the Glen
Helen Building. These repairs were covered by gifts from the Glen Helen
Association and a grant from the Yellow Springs Community Foundation. In
addition, a tree fell on the Gatehouse, near the Birch mansion, requiring extensive
roof repair.
Nick
Boutis
Executive Director

Revenues
I
Tuition & Fees
Less Tuition Discounts
Net Tuition and Fees
I
Gifts
Grants
Endowment Income
Contracts
I
Other Income
Total E&G Revenue
Auxiliary Enterprises
Released From Restrictions
Total Revenues
Operating Expenses
Salaries & Wages
Benefits
Training & Development
Special Events
Supplies
Business Operations
Plant Maintenance
Interest Expense
Resale Costs
Miscellaneous
ContingencyIReserves
Campus Contingency, Discretionary
Capital Reserve
Depreciation
Total Operating Expenses
Excess Revenueover Expenses
Glen Helen
2005-06 Actual Summary
Annual Budget Conversion to Cash Basis
Capital Expenditures
Add back Depreciation
Total Cash Items
Net Cash Basis Budget

ANTIOCH UNIVERSITY NEW ENGLAND
2005-06 Year-End Review
Revenue and Expense Performance to Budqet 2005-2006
Revenue: Approved Operating Budget – Fund One and Two 14,565,681
Actual Fund One and Two 13,924,797
Variance (negative) 640,884
Our total Revenue variance to budget was negative $640,884. Most of this variance is
directly related to not meeting budgeted new student enrollment targets resulting in a tuition
and fee shortfall. Our Summer 05 actual new student enrollment was down 11 to budget.
Our Fall 05 actual new student enrollment was down 23 to budget. The other major
contributor to our tuition revenue shortfall was attrition among continuing students. We
budgeted attrition at 8.5%. The actual for the year was
10%.
The new student enrollment
shortfalls and the additional 1.5% attrition account for about 60% of the negative variance.
The bulk of the remaining negative variance (about 40%) is related to Fund Two activities.
The combined budgeted revenue projection targets for grants and contracts were not met.
Expense: Approved Operating Budget – Fund One and Two
Actual Fund One and Two
Variance (positive)
Our Total Expense variance to budget was positive $643,978. We addressed the revenue
shortfalls by implementing cuts across all divisions and reduced expenditures significantly
relative to budgeted expenses. The three areas where we realized most savings, about
88% of the total, were:
1. Interest Expense – about 16% of total savings resulting from refinancing the building.
2. Business Operations – about 35%,of total savings resulting from reductions in Fund 1
departmental expense budgets and not having to expense budgeted Fund Two items
because expected grants or contracts were not received.
3. Contingency funds adjustment budgeted but not spent- about 37%.
Revenue and Expense Actual Performance 2005-2006
Actual Fund One and Two Revenue
Actual Fund One and Two Expense
Excess revenue over expense
Capital Budqet 2005-2006
Available to spend against Depreciation reserve
Actual Fund One and Two Expense
Positive Variance

Summary
In our April 2006 year-end projection, ANE expected a positive fund balance (Fund One and
Two) of $1 05,000. We would have been on target with this projection except for two year
end adjustments made by the University.
This last minute medical adjustment and not receiving the Temes salary credit total just over
$80,000. This total added to the $29,020 net revenue over expense from Fund One and
Two non-capital actuals would have put us on target with the $1 05,000 April year-end
projection for 2005-2006.
David Caruso
President

Antioch University New England
2005-06 Actual Summary
Revenues
Tuition & Fees
Less Tuition Discounts
Net Tuition and Fees
Gifts
Grants
Endowment Income
Contracts
Other Income
Total E&G Revenue
Auxiliary Enterprises
Released From Restrictions
Total Revenues
Operating Expenses
Salaries &Wages
Benefits
Training & Development
Student Aid Services
Special Events
Supplies
Business Operations
Plant Maintenance
Interest Expense
Miscellaneous
ContingencyIReserves
Campus Contingency, Mandatory
Campus Contingency, Discretionary
Overhead
To the University
Other (Intercampus Agree & Univ Coi
Depreciation
Total Operating Expenses
Excess Revenue over Expenses
-0 56%
600%
85.86%
Annual Budget Conversion to Cash Basis -1,961
0
145,000
220,1941 -%73,12&
347,451
0
0
-78.63%
345,480′
0
145,000
-274,554 1 47.065 Net Cash Basis Budget
382,591
-4,320,000
4,791,391
72,432
Capital Expenditures
Borrowing Proceeds
Principal Payments 33,183 -51 9.51 0 -51 4,864
276,832
0
129,449
Add back Depreciation -552,693 -472,035
-205,242 1 176,222
I
339,1181 -29,020
I
Total Cash Items -65,754

~ntioch University – New England Enrollment Worksheet by Semester 1
12005-2006 Academic Year 1
I I I I I I I
Student Fees 1 $932,613
Ycadernic Promam
Total Tuition & Fee Income: $11,475,322
Less Tuition Discounts 1 -$165,792
I I I I I
Summer
FTE’s
Total 431 1 770 1 723 1924 $11,309,530
I I I I I I I
Special Notes: FTE enrollment figures are based on tuition-paying students and average semester tuition rates. Enrollment numbers do not include students registered for
Dissertation, Doctoral Internship or Master’s Project Continuation. These students are charged fees, rather than tuition.
I I I I I I
Fall PTE’s Spring FTE’s Total FTE’s
Average Tuition
Rate Tuition Revenue

ANTIOCH UNIVERSITY SEATTLE
2005-06 Year-End Review
During the past academic year, 2005-06, AUS experienced a significant and unex-
pected drop in enrollments with a corresponding decline in tuition revenues. From
an annualized FTE (actually calculated on a “full tuition equivalent” basis) enroll-
ments dropped 8.3%. The tuition revenue decrease from this enrollment decline
was $1.4 million below budget. Enrollments in several programs were flat, but
declines in the Psychology programs and especially in Education programs were
pronounced. Such a sharp drop in Education enrollments resulted from a
confluence of local and national trends including almost no new teacher hiring in
nearby public schools, part of a deepening financial crisis in local public school
districts. This trend was exacerbated by a marked proliferation of competing
institutions within just the last few years. These factors also contributed to
additional shortfalls in our Continuing Education programs, many of which were tied
closely to the programs in the Center for Education. The shortfalls in the
Psychology Center seem to have been mostly of internal origin and appear to have
been successfully resolved.
Last year’s shortfalls were addressed through a combination of reductions in force
and budget cutbacks. We reduced 4 staff positions in our Academic Departments
and reduced hiring of adjunct faculty. We also cancelled the mid-term faculty salary
increase, froze unfilled positions, and reduced maintenance and other expenses.
Preliminary figures from 2005-06 indicate that this budget tightening was effective
with a year end positive net income of $382,725.
Mark Hower
Interim President

Revenues
Tuition & Fees
Less Tuition Discounts
Net Tuition and Fees
Gifts
Grants
Endowment Income
Other Income
Total E&G Revenue
Auxiliary Enterprises
Released From Restrictions
Total Revenues
Operating Expenses
Salaries & Wages
Benefits
Training & Development
Student Aid Services
Special Events
Supplies
Business Operations
Plant Maintenance
Interest Expense
Resale Costs
Miscellaneous
ContingencyIReserves
Campus Contingency, Mandatory
Campus Contingency, Discretionary
Capital Reserve
Overhead
To the University
Other (Intercampus Agree & Univ Conf)
Depreciation
Total Operating Expenses
Excess Revenueover Expenses
Antioch University Seattle
2005-06 Actual Summary
Annual Budget Conversion to Cash Basis
Capital Expenditures
Borrowing Proceeds
Principal Payments
Add back Depreciation
Total Cash Items
Net Cash Basis Budget

Footnote (a): FTE in this report are calculated on a Full Tuition Equivalent basis.
Antioch University Seattle
Final Enrollment Report
2005-06 Academic Year
Environ. & Community
Management
Whole Systems Design
Redesigned C3 Programs
Tuition from Other Sources
Student Fees
Total Tuition & Fees
Tuition Discounts
Net Tuition & Fees
3.9
0.6
0.9
77.8
651.9
2.6
0.0
1.8
136.9
776.3
0.9
0.0
1.8
105.4
743.1
0.9
0.0
1 .O
120.7
768.6
8.3
0.6
5.5
440.8
2939.9
$3,640
$3,640
$3,640
$3,640
$30,212
$2,184
$20,020
$1,604,512
$662,295
$31 6,205
$1 1,723,574
-$95,596
$1 1,627,978

ANTIOCH UNIVERSITY SOUTHERN CALIFORNIA
2005-06 Year-End Review
This is a time of challenge and opportunity for AU Southern California. We are faced
with a terrible fiscal problem which, paradoxically, comes at a moment of great
promise and possibility for this region.
For FY 06 we found ourselves with an unanticipated deficit of nearly $865,961. Just
as we were devising a plan to address this deficit, and with the help of the
Chancellor and the Vice Chancellor and CFO, we recognized that shortfalls in
Summer and Fall 06 enrollment indicated that we would be facing even greater
financial challenge in FY 07, and would need to postpone addressing the FY 06
deficit until we addressed the more pressing and more immediate situation in the
current FY.
We are responding rapidly and aggressively to these twin challenges. The Chief
Financial Officer who was responsible for the preparation and oversight of these two
budgets is no longer with us. We have re-structured the administration of both
campuses, with a Provost and Vice President for Academic Affairs for each campus
(Drs. Michael Mulnix, Santa Barbara, and Neal King, Los Angeles) assisting the
President as the senior management for the region. Hiring and spending freezes
have been implemented throughout the region. We have begun the search for a
Controller for the region.
With a painful combination of staff and expenditure reductions on both campuses,
together with applying campus contingency funds to the shortfall, we are bringing
the FY 07 budget back into balance. We are being assisted in this process by the
Chancellor, the Vice Chancellor and CFO, and Antioch New England’s CFO, Tim
Jordan, who has worked with us on a day-to-day basis for two weeks and is still
available to us for advice.
FY 06
We recognize now that inadequate oversight systems were in place during this time,
resulting in the campus not accurately reconciling actual enrollment and tuition
dollars against projections. Revenue shortfalls were not carried forward from one
term to the other, checks and balances between the Finance office and the
Registrar’s office and academic programs were not functional. These structural
problems are now being addressed.
LucyAnn
Geiselman
President

Antioch University Southern California
2005-06 Actual Summary
Revenues
Tuition & Fees
Less Tuition Discounts
Net Tuition and Fees
Gifts
Grants
Other Income
Total E&G Revenue
Auxiliary Enterprises
Released From Restrictions
Total Revenues
Operating Expenses
Salaries & Wages
Benefits
Training & Development
Student Aid Services
Special Events
Supplies
Business Operations
Plant Maintenance
Interest Expense
Resale Costs
Miscellaneous
Contingency/Reserves
Campus Contingency, Mandatory
Campus Contingency, Discretionary
Overhead
To the University
Other (Intercampus Agree & Univ Conf)
Depreciation
Total Operating Expenses
Excess Revenue over Expenses
Annual Budget Conversion to Cash Basis
Capital Expenditures
Borrowing Proceeds
Principal Payments
Prior Year Reserves
Add back Depreciation
Total Cash Items
Net Cash Basis Budget

Antioch University – Southern California
Final Enrollment Report
2005-2006 Academic Year *
f^ * Reported in total for this 0
I academic year only

ANTIOCH UNIVERSITY McGREGOR
2005-06 Year-End Review
Fiscal year 2006 was an up and down year for Antioch University McGregor. With a
drop in enrollments in some programs in the summer and fall, the year began
slowly. However, efforts to reduce expenses throughout the year (beginning first
quarter) and a robust winter enrollment brought us to year’s end with a surplus. In
mid-July (prior to the University’s audit and as of the University Leadership Council
summer retreat), the surplus was close to $1 50,000. However, with additional health
care costs added to our expense line , the final figure is a surplus of $8,573
During Fiscal year 2006, the campus faced challenges in meeting some revenue
goals due to competition and frankly, the “sameness” of programs that are due for
change. The local economy is not strong which impacts some graduate programs
that previously had strong tuition reimbursement support. This impacted all area
colleges and universities. However, that trend is fluid and the market conditions are
manageable.
It is extremely important to note that revenue is measured through headcount and
FTEs
at the University but as with most campuses – there are other important
sources of revenue (grants, partnerships, contracts, etc.) Our overall revenue
shortfall was $223,317.
Measures taken to curb expenses have multi-year impacts in some cases. The
actions taken were productive and are listed below:
Delay in filling positions.
Continuous budget review (by line) to identify savings.
Accessing restricted funds (which directly support programs) of an additional
$80,757 beyond budget. These restricted accounts are available for program
support but we access these funds cautiously because they are the only
source for program development and support. They come from grants and
other restricted accounts.
Studied the use of “look back” funds from the Ohio Higher Education
Facilities Commission bonds, but were able to meet budget without tapping
these funds.
Added a cohort of education students in the winter quarter. The School of
Education is the most fluid in enabling this revenue growth; we are moving
toward making others more pliable to do so.
Applied a spending moratorium that required additional signatures for any
expenses that were encumbered.
Reviewed all retention strategies and marketing efforts.

The result was a surplus that while causing some stress, was not extremely difficult.
This reflects well on the budget preparation of the deans, but it did lead us to
thoroughly review the programs that caused the shortfalls (Graduate Management,
Community College Management) and we are pleased to note each met or
exceeded its goals for the current fiscal year. Other areas of concern are continuing
students in the Individualized Liberal and Professional Studies Program and some in
the Undergraduate Studies Program. Faculty positions were cut back in each and
stringent retention guidelines are being developed, measured and evaluated.
Bottom Line:
Antioch University McGregor 2005-2006 actual total revenue was down $223,317.
This includes tuition revenue and other sources. Budget holds and expense
reductions led to a surplus which ended up at $8,573.
Barbara Gellman-Danley
President

Revenues
Tuition & Fees
Less Tuition Discounts
Net Tuition and Fees
Gifts
Grants
Contracts
Other Income
Total
E&G Revenue
Auxiliary Enterprises
Released From Restrictions
Total Revenues
Operating Expenses
Salaries & Wages
Benefits
Training & Development
Student Aid Services
Special Events
Supplies
Business Operations
Plant Maintenance
Interest Expense
Miscellaneous
ContingencyIReserves
Campus contingency, Mandatory
Capital Reserve
Overhead
To the University
Other (Intercampus Agree & Univ Conf)
Depreciation
Total Operating Expenses
Excess Revenue over Expenses
Annual Budget Conversion to
Capital Expenditures
Borrowing Proceeds
Principal Payments
Prior Year Reserves
Add back Depreciation
Total Cash Items
Net Cash Basis Budget
Cash Basi
Antioch University McGregor
2005-06 Actual Summary

Antioch University – McGregor
Final Enrollment Report
Note: Discounts of $1,865 are netted against the gross tuition
FTE Definitions B.A. Completion – 12 Cr. Hrs.=IFTE
M.A. Ind. Liberal & Prof – $2760=1FTE
All other graduate programs -8Cr.
Hrs.=IFTE
Other is non-FTE tuition revenue for continuing
edlseminars,
Organizational Institute, etc.
Non-program other is application, registration, transcript, late-payment and tech fees.

Antioch University – McGregor
Final Enrollment Report
2005-2006 Academic Year
FTE Definitions
Academic
Program
Note: Discounts of $1,865 are netted against the gross tuition
B.A. Completion – 12 Cr. Hrs.=IFTE
M.A. Ind. Liberal & Prof – $2760=1FTE
All other graduate programs -8Cr.
Hrs.=1
FTE
Other is non-FTE tuition revenue for continuing
edlseminars,
Organizational Institute, etc.
Non-program other is application, registration, transcript, late-payment and tech fees.
Actual Summer
FTE’s
Actual Fall
FTE’s
Actual Winter
FTE’s
Actual Spring
FTE’s
Total
FTE’s
Tuition
Rate
Tuition
Revenue

Ph.D. in Leadership & Change
2005-06 Year-End Review
Enrollment:
We began Academic Year 2005-06 year with 96HC. We ended 2005-06 with 86HC. I
had projected a 93 HC for the entire year.
We had five students graduate during the year 2005-06 (not to be confused with those
walking at the graduation ceremony, which wasn’t until August 2006).
We had 20 students in candidacy over the course of the year. I had projected 12
candidacy students for the year. This means we had more students move more quickly
into the candidacy phase, which is great in terms of student progress. It does mean
that less money comes into the program because once a student advances to
candidacy they have a Dissertation Tuition, which is actually one-half of regular annual
tuition and paid quarterly until they graduate.
We had five students withdraw (or be withdrawn) from the program during the year,
which is approximately a five percent attrition. I had projected a 10% attrition.
The incoming class of 05-06 (Cohort 5) had 23 students. I had projected 25 per
cohort, so we were a little shy of the projection.
Financial:
As the year-end budget sheets show, we had tuition & fees-generated income of
$1,541,840 total revenue, which was approximately $9,160 less than projected
($1,551,000). However, we ended the year with a $72,954 surplus over expenses.
There were no surprises during the year in terms of expenses.
Laurien Alexandre
Director

Revenues
Tuition & Fees
Less Tuition Discounts
Net Tuition and Fees
Gifts
Grants
Other Income
Total
E&G Revenue
Released From Restrictions
Total Revenues
Operating Expenses
Salaries & Wages
Benefits
Training & Development
Special Events
Supplies
Business Operations
Plant Maintenance
Interest Expense
Miscellaneous
ContingencyIReserves
Campus Contingency, Mandatory
Overhead
To the University
Other (Intercampus Agree & Univ Conf)
Depreciation
Total Operating Expenses
Excess Revenue over Expenses
PhD in Leadership and Change
2005-06 Actual Summary
Annual Budget Conversion to Cash Basi
Capital Expenditures
Borrowing Proceeds
Principal Payments
Add back Depreciation
Total Cash Items
Net Cash Basis Budget

Antioch University – PhD
Final Enrollment Report
2005 -2006 Academic Year
Gross Tuition 93 93 93 93 369 $6,750 $1,644,240
Tuition Discounts
-$2,400
Net Tuition & Fees $1,641.840
Academic
Program
Pre-Candidacy
Candidacy
Pre-Candldacv Maint
FTE Definition: Due to the fact that students in the Ph.D. program only have full time status, the numbers in this report are expressed In headcount instead
of
FTE’s.
Actual Summer
Headcount
79
11
3
Actual Fall
Headcount
77
16
3
Actual Winter
Headcount
77
16
1
Actual Spring
Headcount
76
17
2
Total
Headcount
309
60
9
Tuition
Rate
$4,600
$2,250
$2.260
Tuition
Revenue
$1,390,116
$135.00~
$1 9.1 26

ANTIOCH UNIVERSITY ADMINISTRATION
2005-06 Year-End Review
The University Central Administration ended the year with excess revenue over
expenses of $2,270,515. This gain is a result of the endowment having an excellent
year. Of the gains from the endowment which at 5% is $1,251,387 only $571 ,I 93 was
realized in cash resulting in a negative $680,194 in the endowment line item of the
budget.
Expenditures appear to be overspent by $403,932 when in fact it was caused by not
budgeting revenue that was deposited for a total of $388,000 and some other minor
adjustments. Steps have been taken to alleviate this problem in future years.
Thomas A. Faecke
Vice Chancellor and
Chief Financial Officer

University Central Administration
2005-06 Actual Summary
Revenues
Gifts
Grants
Endowment Income
Other Income
Total
E&G Revenue
Released From Restrictions
Overhead for Central Operations
Total Revenues
Salaries & Wages
Benefits
Training & Development
Special Events
Supplies
Business Operations
Plant Maintenance
Interest Expense
Resale Costs
Miscellaneous
ContingencyIReserves
Campus Contingency, Mandatory
Campus Contingency, Discretionary
Capital Reserve
Overhead
Other (Intercampus Agree & Univ Conf)
Depreciation
Total Operating Expenses
Excess Revenue over Expenses
Annual Budget Conversion to Cash Basis
Capital Expenditures
Borrowing Proceeds
Principal Payments
Add back Depreciation
Total Cash Items
Net Cash Basis Budget
95,072
0
124,106
-1
89,646
29,532
3,809,547
22 9 r 454
0
124
1
1
1 ,
-175 100
178 465
: ^y~:;3~@>:~1:3@” …………………………………. ,:::..:… …………………….. 1:: …. ………………….. …………………. ……………………………….. …………………. ;;;.;.y =::, .:@ …………………….. …………………………………..
……… …………………. 4 ………….. …………………………
:#::’~::~43.@:$~3~: …………………
88 500 1
0
124 1 04 !
-200 , 000
17979.60%
………………………………….. ……………
2 , 473 , 1 39 … l;$;$;?:<;p258::9@ 8..,..i .............. ................. -12,6341::;:;::;;:2,^;5& -7.92% ..&"s@.$@; .............................. ............... : ...%. :c.:.< ...I :A::: .... ::::>$%$-.;@ …………………….. ……………….. ………………..
~;$,;33&~4 ………………. . ,:.:…:… …………………………………….
.::.;;:m::.:54″:88:9; ……. .,. …..
;’;^a^,.@oe ………. .r …. : ………………. …………………………….. …………….. ………………………….. ……………………………………….. >
-65.94%
1.99%
27.44% ….. ……………………….. ……………. – 998; 1 604 ;:x:.:::.:…: ..:..:.:.:.:..:.:.: ……….. ………….. ….. 9
………. …………………………………… ………………………………. …………………… ……………………… ………………………

ANTIOCH REVIEW
2005-06 Year-End Review
The Antioch Review deficit was $37,468 in part because income from a $10,000
National Endowment for the Arts grant budgeted for 05-06 came instead at the
beginning of the fiscal year 06-07. In addition, there were increases in purchased
services, printing, postage and authors fees as we increased the size of the magazine
to 200 pages (our desired size). Gift revenue was up dramatically from $28,000 to
$40,000 in part because of increased events throughout the year and a one time
matching gift from a corporation. There was a slight decline in sales.
Robert
Fogarty
Editor

Antioch Review
2005-06 Actual Summary
Revenues
Gifts
Grants
Endowment Income
Other Income
Total
E&G
Revenue
Auxiliary Enterprises
Total Revenues
Operating Expenses
Salaries & Wages
Benefits
Training & Development
Supplies
Business Operations
Depreciation
Total Operating Expenses
Excess Revenue over Expenses
Annual Budget Conversion to Cash Basis
Add back Depreciation
Total Cash Items
Net Cash Basis Budget
-1,443
-1,443
443 I
1 443 ,
…….. : z:::. ………….. …………… ……….. …………….. :: 4:. ,. 882 … ………………. …………………….. ……………
…………………… .. ….. ……………………. ………
,:’.:::::.:::::::::<::::?^^^&& :: :. x ............................. ............................ ............................. .............................. ............................ ............................ ............................ .............................. ........................... ............................ ........................... -52,220 -1 081 3 081 - , -14 , 760 ,:;~~$;~~~&& ........ ....., .. .......... -:;;:- ................................... ..... ................... ....................... ,.. .:. ....................... ... ........... ............ ....... :.:?:.>:.: :.>:.:.:.:.,.:: .*
, ::::::.J;,443 …………………….. ……………………. …………………….. …………………….. ………………………. …………………….. ………………………… ……………….. …………………………. … …………
-133.49 %
-1 33.49%
1 , 081 1;:!:!{gx:-$7:,:$a:zi ………………………… ,.. … -3432.65%

WYSO PUBLIC RADIO
2005-06 Year-End Review
This has been a rebuilding year for WYSO with both positive developments
and difficult challenges. WYSO was under new management this year with
some new staff. Underwriting revenue has performed particularly well, with
an increase of over
3O0/0
over the previous year. This year WYSO secured
over $300,000 in private foundation and public grants to finance long
overdue, basic technical infrastructure improvements and to purchase a new
transmitter. All this was accomplished despite the national trend of declining
revenue for nonprofit organizations.
Maintenance and repairs on our aging transmitter resulted in engineering
costs that were not budgeted in
FY06.
These were substantial costs for labor
and equipment which were often under emergency conditions. Lack of
regular engineering maintenance over the years contributed to these
problems. Unfortunately these costs effectively negated the gains made in
revenue. While the costs for our shared sales person with WDPR increased,
they were offset by the increase in underwriting sales. There was also a
shortfall in
membershiplgift
revenue, which follows the national trend in
Public Radio. But trends are positive as our membership renewal rate is at
an all time high of 85% and number of members is trending upward, albeit
slowly. Audience numbers also continue their upward trend.
This year’s deficit is about the same as last year’s despite significant and
unavoidable engineering and equipment costs that were incurred this year.
This investment in equipment will certainly payoff in a more reliable
broadcasting service that will put WYSO in a much better position to
fundraise. Our goal is to eliminate the remaining deficit over the next 5 years
and become financially self-sustaining. That equates to a
20%
reduction per
year. WYSO would have made that projection this year if not for emergency
transmitter repair costs. This year practically all of our private grant money
was needed for equipment and technical infrastructure. We now anticipate
that WYSO can shift the focus of grant solicitation to operating funds. This
will have a direct effect on deficit reduction. With positive trends in
membership, underwriting and grant revenue sources, WYSO is moving
ahead with a plan for financial stability.
Paul Maassen
General Manager

WYSO
2005-06 Actual Summary
Revenues
Gifts
Grants
Other Income
Total E&G Revenue
Auxiliary Enterprises
Total Revenues
– 8
Salaries & Wages
Benefits
Training & Development
Special Events
Supplies
Business Operations
Plant Maintenance
Interest Expense
Miscellaneous
Depreciation
Total Operating Expenses
Excess Revenue over Expenses
Annual Budget Conversion to C
Capital Expenditures
Borrowing Proceeds
Principal Payments
Prior Year Reserves
Add back Depreciation
Total Cash Items
ash Basis I
Net Cash Basis Budget

University Endowment Review FY06
The University endowment is managed by Citigroup Institutional Consulting,
Columbus, Ohio. Market value of the endowment for the year ending June 30, 2006
was $29,375,000. For the year ending June 30,2006 , the endowment generated
realized and unrealized income of 12.29%. The worksheet on the following page
outlines the various investments and investor groups that Citigroup utilized during the
last fiscal year.
Total endowment income from the Citigroup investments and gains on the Yellow
Springs Instruments (YSI) stock was $3,299,208. A total of $2,673,751 was realized
and $625,457 was unrealized. Realized income represents selling an investment
instrument and receiving the market value in cash to assist in operations expenses or
reinvestment. Of the realized income $1,375,000 was used to fulfill endowment
directives and the balance was reinvested. Unrealized gains are increases in the
market value during the fiscal year which cannot be realized until sold.

Antioch University
Antioch University AS OF 06/30/200t
Investment Returns are Trailing 12 Trailing 3 Trailing 5 Since Since lnc Market Value % June Fiscal YTD Months
Annualized and Time Weighted f%) Years Years 05/31/1999 Period End 06/30/2006 Portfolio
TOTAL FUND
Zornbined Equity
SSP 500
EQUITY INVESTMENTS
NFJ
Russ 1000 Value
Cambiar
Russ 1000 Value
WesKield
Capital Mgmt.
Russ 2500 Growth
VuVeen
Management – NWQ
Russell 2500 Value
TCW Asset Management
Russ 1000 Growth
=riess
Assoc. – Brandywine Blue
Russ 1000 Growth
INTERNATIONAL EQUITY
William Blair International Growth Mutual Fund
MSCI EAFE Growth
Brandes Investment Partners. LP
MSCl EAFE (net)
FIXED INCOME INVESTMENTS
Seix Investment Advisors
LB GovV Credit
PIMCo
All Asset
LB Agg Bond Index
BALANCED: EQUITY/FIXED
Consulting Group Capital Markets Funds
S&P 500 Index
MARKET ALTERNATIVES
K2 Advisors
S&P 500 Index
LB Agg Bond Index
Pine Grove Associates
S&P 500 Index
12.29
16.75
8.62
NIA
N/A
NIA
N/A
18.38
14.61
30.80
12.54
3.77
6.12
9.71
6.12
NIA
N/A
25.68
26.56
-2.42
-1.53
1.77
-0.8 1
8.01
8.62
7.56
8.62
-0.81
N/A
N/A
12.89
16.79
11.21
NIA
N/A
NIA
N/A
15.81
17.03
NIA
N/A
9.50
8.36
14.51
8.36
NIA
N/A
25.83
23.94
1.50
1.60
NIA
N/A
10.65
11.21
7.53
11.25
2.05
N/ A
N/A
5.49
5.37
2.49
NIA
N/A
N/A
N/A
NIA
N/A
NIA
N/A
NIA
N/A
NIA
N/A
NIA
N/A
11.01
10.02
3.50
5.13
NIA
N/A
6.23
2.49
NIA
N/A
N/A
N/A
N/A
LB Agg Bond Index 0 21 0 10 N/A N/A N/A 0.10
Report Created 7/12^006

I
I 2006-07
I Financial Review

ANTIOCH UNIVERSITY
2006-07 FIRST QUARTER PERFORMANCE
The revenue through the first quarter of FY07 appears to be on target with the
budget plan as approved by the Board of Trustees. Some campuses are
experiencing budget problems but they are being addressed as they are identified.
We will continue to monitor revenue and expense lines of the campuses on a daily
basis and make mid-year corrections when necessary.
Thomas A. Faecke
Vice Chancellor and
Chief Financial Officer

Revenues
Tuition & Fees
Less Tuition Discounts
Net Tuition and Fees
Gifts
Grants
Endowment Income
Contracts
Other Income
Total E&G Revenue
Auxiliary Enterprises
Released From Restrict!
Antioch University
2006-07 Summary
Net Overhead for Central Operations
Total Revenues
Operating Expenses
Salaries & Wages .
Benefits
Training & Development
Student Aid Services
Special Events
Supplies
Business Operations
Plant Maintenance
Interest Expense
Resale Costs
Miscellaneous
ContingencyIReserves
Campus Contingency, Mandatory
Campus Contingency, Discretionary
Overhead
To the University
Other (Intercampus Agree & Univ
Depreciation
Total Operating Expenses
Excess Revenue over Expenses
Annual Budget Conversion to Cash Bas
Capital Expenditures
E30rrowing
Proceeds
Principal Payments
Prior Year Reserves
Add back Depreciation
Total Cash Items
Net Cash Basis Budget

ANTIOCH COLLEGE
2006-07 First Quarter Performance
The FY2006-2007 budget represents a net reduction of $357,814 against the budget
submitted to the Board of Trustees in June 2006. This reduction has been achieved
through adjustments to both revenue and expenses.
Revenue was reduced by virtue of assuming a smaller first-year fall 2006 class of
120 students as opposed to 145 as assumed in the original budget. Operating
revenue was increased by substituting restricted funding for King center staffing.
Enrollment budget was based upon actual spring 2006 enrollment less attrition plus
expected new students.
Expenses were reduced through:
selected hiring freezes;
auxiliary expense eliminations;
delayed implementation expenses; and
denial of selected requested budget increases.
Enrollment, Revenue and Expense changes for 2006-2007
Revenue and Enrollment
Overall student body enrollment for 2006-2007 will be less than 2005-2006.
Roomlboard
revenue for the summer term of
FY2007
will also be lower due to
lower enrollment and no summer residency by students.
Degree student enrollment (head count) for the fall 2006 is budgeted at 312
and AEA enrollment of 85 for a total headcount of 397 as compared to actual
461 for fall 2005 and 364 for the spring 2006.
Five percent (5%) tuition and fee increase for 2007 is expected to be
absorbed by increased scholarship support.
A significant portion of the 2007 operating budget will be funded by gifts. It is
the assumption of the College that 2007 fund-raising will be as successful as
2004-2006. For example, our budget includes secured revenue of $1.3 million
gift and a minimum of $3.5 million endowment release from restricted
revenue.
Endowment income is assumed to remain the same as the prior year.
Other income includes deferred FY2006 sale of real estate.
As planned, Auxiliary Services has administered the first contract for summer
term renters of dorm space and has hosted several income producing campus
events during the first quarter of
FY2007.

Expense Changes
Depreciation has increased due to facility renovations and investments in
classroom technology.
Salaries increases are 2-3%. About half will be paid for the first half of the
year and the remainder will be dependent upon mid-year results.
1 % contingency reserve of $1 79,585 has been added.
Energy costs are expected to increase by $50,000 and health care costs by
$50,000. Plant expense savings are budgeted as a result of demolition of
Norment hall. Fixed cost of physical facilities including Auxiliaries will be
proportionally high until enrollment improves.
Less expense is budgeted for adjunct faculty, visiting faculty and
designlprinting
of marketing materials. Also, total faculty will decline.
Status of first Quarter 2007
Net tuition at the end of September 2006 was less than a percent below budget, or
$24,068. Fall 2006 degree student enrollment is 324 or 12 above budget and our
non-degree student enrollment is 98 or 13 above budget.
Natural gas energy prices have dropped and a contract was executed for winter
pricing that is below budgeted level.
Fall 2006 first year students have shown a positive impact upon our learning
environment.
Our first Co-op Host communities are in place for Washington D.C., New Mexico and
Ohio.
Faculty advisor training is underway as a part of a campus-wide emphasis upon
retention improvement.
Risks
Enrollment decline in upper class sizes and smaller 2004-2005 class will impact
future years. As expected and reported previously, the smaller targeted 2005-2006
fall class size is contributing to an overall reduction in the size of the student body.
Fund-raising from existing and new sources will take some time and is likely to
require evidence of progress with the new learning communities, facilities and in
creating a more positive campus climate.
Steven
Lawry
President

Revenues
Tuition & Fees
Less Tuition Discounts
Net Tuition and Fees
Gifts Inc Unrest. Campaign Gifts
Grants
Endowment Income
Contracts
Other Income
Total E&G Revenue
Auxiliary Enterprises
Released From Restrictions
Subsidy
Total Revenues
Operating Expenses
Salaries & Wages
Benefits
Training & Development
Student Aid Services
Special Events
Supplies
Business Operations
Plant Maintenance
Interest Expense
Resale Costs
Miscellaneous
ContingencyIReserves
Campus Contingency, Mandatory
Overhead
Other (Intercampus Agree & Univ
Depreciation
Total Operating Expenses
Excess Revenue over Expenses
Antioch College
2006-07 Summary
Conf)
Annual Budget Conversion to Cash Basis
Capital Expenditures
Principal Payments
Add back Depreciation
Total Cash Items
Net Cash Basis Budget
…
………. …. …………… : ………. . ..:.:.$..s&jeifi v. …. .,., :. … 1 732 GO(, K~~;^~~g32::;~94~ . ………………………………..
~;:~;;j:;~~~$;$~&: ………………………………….. …………….
………………………… ………………………………….. … ……… . …………. ………. ………………….. ……………. :: …~^Q-@S. :. .. , …… .: ……………………. ………………
:;:-+.sss^QQ: ….. ………. ….. ….. .c.. , .. … …………. : .:::::::.:::.,~~60& … ………. .:…………….. …….. … ,: .1 :,
-1,299,706
-275,000
I ,
2 7 5 o (, o 1
-3 96 252
1 61 1 348
.: ~;:i,;$;~$$~~~:~~:~~~~& ……………
3…~,~.~:~43~,894 396,252 ……… … ………………………………….
.. t.. — ……….. -1 ,I 78,454
………………………………. …. ………………………… .. .. ……. …………………… :.: :.:. : …….
‘.~~~&2] 2,605,330 …….. , ….
………………. ………………………………….. ……….. 7 I
…… :.:.:….:.:. :: ………………… ……………. …………………. ………………… ……. ..:…..: ..-422600 ….. ………. …… …….. ……. …….. …… T -1 7 61 1 9 348

Antioch College
Enrollment Worksheet
2006 -2007 Academic Year
Academic
r—
Pro ram
____s____
I Footnotes:
Footnotes:
1. All FTE and Tuition are FY2007 budgeted amounts.
2. Tuition revenue is tuition and fees.
3. Summer term begins in June and ends in August and is allocated between fiscal years. Therefore two summer terms are shown,
4. Summer allocation of $ tuition is 39% and 61% between fiscal years.
5. Tuition rate is an average per term rate.
6. Tuition and fee increases begin in the Fall term, so summer terms have different rates.
7. FTE is full time head count plus one third part time head count.
A B C D E F G
Tuition Summer 06
FTE
(allocated)
Enroll. Revenue
8. * Note: comparison of prior fiscal year to this fiscal year will be distorted because 1st and 2nd year classes have 2 terms for Core program vs. 3 terms for Old program
9. * Total enrollment column is a cumulative total of FTE by term and does not reflect enrollment (also see note #8 effect of core program upon cumulative FTE column)
10. FY2005-2006 is the last summer residential academic trimester term
Fall 06
FTE Enroll.
Spring 07
FTE Enroll.
Summer 07
FTE (allocated)
Enroll.
* Cumulative
FTE Enroll.
* Average Tuition
Rate per Trimester

GLEN HELEN ECOLOGY INSTITUTE
2006-07 First Quarter Performance
The current fiscal year budget was built on the “actual” of the previous year with
adjustments made based on those results.
Gifts: Our assessment is that the gift budget is set at a realistic level. The annual
fund goal remains $70,000 with the expectation that the Executive Director, working
with the GHEI Development Committee, will be able to raise this amount through
direct fundraising.
Grants: In FY 06-07 we received $44,993 from the Ohio Department of Education
for the 2006 Summer Honors Institute, which was successfully completed in August.
The exact amount of the grant funding was included in the FY 06-07 budget.
Presently, in the pipeline, we have $143,000 that will come to us through the U.S.
Environmental Protection Agency for overhauling our wastewater processing system
at the Outdoor Education Center. This money was not included in the grant category
because it is not yet know whether we be able to draw upon that funding in this fiscal
year.
Auxiliary Enterprises: OEC weekend rentals will be booked in the correct year.
Summer Honors Institute room and board revenue was included in FY 06-07 budget.
Rents were raised in the Birch mansion. Also, the budget reflects alternative
revenue-producing uses of the Birch mansion. We forecast seven contracts for
daylweekend
use of Birch mansion, with an average income of $1,000 per rental.
The annual income budget from Birch mansion was restored to the FY 04-05 level of
$24,000. In FY 05-06 it had been
$19,500.
Salaries & Wages: Expenditures in this category will increase by approximately
$9,000 in FY 06-07 to include salary for the Executive Director and the Summer
Honors Institute. Overall, the category totals are close to the FY 04-05 actual salary
expense.
Benefits: We expect that the FY 06-07 budget will be stable now that the leadership
transition is complete. Benefits budget increased by $1 6,500
Supplies: Budget decreased in FY 06-07 by $2,800. This figure is close to FY 05-06
actuals.
Business Operation: FY 06-07 includes Business Operation money to fulfill
Summer Honors Institute grant from the Ohio Department of Education. To balance
the overall budget, the In the Glen newsletter ($1 0,000) was removed from the
budget.

Plant Maintenance: With the expectation that urgent, unanticipated repairs are less
likely in FY 06-07, the budget for this category was decreased by over $26,000.
Additional funds should ideally be budgeted for further building maintenance and
repairs, but fiscal prudence requires that new or increased sources of revenue are
first found.
Capital: The FY 06-07 capital budget has been reduced in line with depreciation.
Nick
Boutis
Executive Director

Revenues
Tuition & Fees
Less Tuition Discounts
Net Tuition and Fees
Gifts
Grants
Endowment Income
Contracts
Other Income
Total E&G Revenue
Auxiliary Enterprises
Released From Restrictions
Total Revenues
Operating Expenses
Salaries & Wages
Benefits
Training & Development
Special Events
Supplies
Business Operations
Plant Maintenance
Resale Costs
Miscellaneous
Campus Contingency, Discretionary
Depreciation
Total Operating Expenses
Excess Revenue over Expenses
Glen Helen
2006-07 Summary
Annual Budget Conversion to Cash Basis –
Capital Expenditures
Add back Depreciation
Total Cash Items
Net Cash Basis Budget

ANTIOCH UNIVERSITY NEW ENGLAND
2006-07 First Quarter Performance
Revenue and Expense Performance to Budqet 2006-2007
Revenue: Approved Operating Budget – Fund One and Two 6,327,679
Actual Fund One and Two 6,616,317
Variance 288,638
Through the first quarter of 2006-2007 ANE is ahead of revenue projections as a result of
successful new student enrollment for the Summer and Fall terms.
The budgeted Summer new student enrollment goal was 55 and 72 new students
matriculated, a plus 17. For the Fall, term our budgeted enrollment target was 268 and 277
new students enrolled, a plus 9. These additional new students account for about 75% of
our positive variance. We are also ahead of budget, about 20% of the total variance,
because some contract revenue came in earlier then expected.
Expense: Approved Operating Budget – Fund One and Two 3,639,038
Actual Fund One and Two 3,261,642
Variance 377,396
Our actual expenses for the first quarter are running under budget projections. Most of the
variance is due to under expending in the Salary and Benefit category, about 53% of the
total. This savings is a result of the delayed hiring of budgeted but vacant positions (vice
president for institutional advancement) and savings realized from the difference between
budgeted and interim appointments (academic dean and several core faculty positions).
The other big category variance under expense is Depreciation, about 38% of the total. We
spread the expense to budget on a monthly basis and the University has yet to expense any
actual depreciation due to the audit delay.
The other variance, a negative $90,000, is the Student Aid Services category. The major
portion of the variance is a result of Fund 2 MRPSOC being expensed’earlier then budgeted.
The variance will decrease each month as we move through the year.
Summary
ANE is in a positive budget position at the end of the first quarter of the FY 2006-2007
budget year. Enrollment and tuition revenue are ahead of the budgeted targets for the
Summer and Fall terms. In addition, expenditures are running under budget at the end of
the first quarter. We expect to follow prudent budget discipline throughout the remaining two
quarters in order to remain in a positive budget position. Plans for the expensing of the extra
revenue realized from the Summer and Fall enrollments will not be considered until after the
Spring enrollment period is complete and the overall revenue and expense picture for the
year can be reviewed.
David Caruso
President

Antioch University New England
2006-07 Summary
Revenues
Tuition & Fees
Less Tuition Discounts
Net Tuition and Fees
Gifts
Grants
Endowment Income
Contracts
Other Income
Total E&G Revenue
Auxiliary Enterprises
Released From Restrictions
Total Revenues
Operating Expenses
Salaries & Wages
Benefits
Training & Development
Student Aid Services
Special Events
Supplies
Business Operations
Plant Maintenance
Interest Expense
Miscellaneous
ContingencylReserves
Campus Contingency, Mandatory
Overhead
To the University
Other (Intercampus Agree & Univ
Depreciation
Total Operating Expenses
ExcessRevenueoverExpenses
Annual Budget Conversion to Cash Basis
Capital Expenditures
Principal Payments
Add back Depreciation
Total Cash Items
Net Cash Basis Budget

Antioch —
Enrollment Worksheet 14
12006 – 2007 Academic Year 1
I I I 1
I
Special Notes: FTE enrollment figures are based on tuition-paying students and average semester tuition rates. Enrollment numbers do not include students registered for Dissertation
Doctoral
Internship
ox” Master Project Continuation. These students are charged fees, rather than tuition.

ANTIOCH UNIVERSITY SEATTLE
2006-07 First Quarter Performance
As we were addressing the 2005-06 shortfall, we were very concerned that the
trends would continue into 2006-07, attributable to many of the same reasons. The
preliminary enrollment estimates as we were developing the budget indicated a
further drop of 14.5% from the previous year, resulting in a potential deficit of nearly
$2 million. So, we went through a more extensive budget reduction process
resulting in the laying off of 6 core faculty, 3 more staff persons, and “level of effort”
reductions involving 12 employees (including the entire President’s Team). Salary
increases were cancelled. We also deferred hiring in vacated positions and reduced
adjunct positions. Significant reductions were made to professional development,
advertising, and maintenance. Though expenses were reduced throughout the
institution to achieve a balanced budget, we also attempted to distribute the cuts in
such a way as to maintain the strength of key, healthy programs while not completely
undermining the viability of others. So far, enrollments into the Fall Quarter are on
the whole are reflective of the submitted budget. At this time, the overall Fall 2006
enrollments for all programs appears to be slightly over our projections. This is good
news, of course, particularly since the 2006-07 budget was developed with
somewhat less cushion than a typical year and going through this process an error in
our numbers was discovered. We feel we can cover the error with reserves. Once
the Fall enrollment numbers are finalized we can speak more specifically about
additional steps we might need to take to balance our budget for this year.
Mark Hower
Interim President

Revenues
Tuition & Fees
Less Tuition Discounts
Net Tuition and Fees
Gifts
Grants
Endowment Income
Other Income
Total E&G Revenue
Auxiliary Enterprises
Released From Restrictions
Total Revenues
Operating Expenses
Salaries & Wages
Benefits
Training & Development
Student Aid Services
Special Events
Supplies
Business Operations
Plant Maintenance
Interest Expense
Resale Costs.
Miscellaneous
Contingency/Reserves
Campus Contingency, Mandatory
Campus Contingency, Discretionary
Overhead
To the University
Antioch University Seattle
2006-07 Summary
Other (lntercampus Agree & Univ
Depreciation
Total Operating Expenses
Conf)
Excess Revenue over Expenses
Annual Budget Conversion to Cash Ba
Capital Expenditures
Borrowing Proceeds
Principal Payments
Add back Depreciation
Total Cash Items
Net Cash Basis Budget
sis

Antioch University Seattle
Enrollment Worksheet
2006-07 Academic Year
Academic
Program
BA Completion
BATP
MAEd
Teachers’ Preparation
MA Psych
Psy. D
Center for Creative Change (b)
Tuition from Other Sources
Student Fees
Tuition & Fees Income
Tuition Discounts
Footnote (a): FTE in this report are calculated on a Full Tuition Equivalent basis.
Footnote (b): Actual tuition budget for C3 is $2,052,150 due to error during budget development process
I I I
Summer
FTE’s
56.8
50.8
47.0
124.8
154.1
25.9
80.9
I I I 1
Net Tuition & Fees 540.31 702.21 612.31 677.9) 2532.71 $11,224,189
Fall
FTE’s
102.0
50.3
29.8
115.6
189.0
77.6
137.9
Winter
FTE’s
104.1
32.5
23.8
80.0
191.1
61.4
119.4
Spring
FTE’s
100.8
46.7
24.0
84.4
195.2
73.0
153.8
Total
FTE’s
363.7
180.3
124.6
404.8
729.4
237.9
492.0
Tuition
Rate
$4,980
$4,640
$3,360
$3,360
$3,720
$4,680
$3,880
Tuition
Revenue
$1,811,226
$836,592
$41 8,656
$1,360, 128
$2,713,368
$1
,I
13,372
$1,908,960
$612,500
-$510,387
$1 1,285,189
-$61,000

ANTIOCH UNIVERSITY SOUTHERN CALIFORNIA
2006-07 First Quarter Performance
FY 07
We have seen our actual enrollment fall considerably short of our enrollment
projections on both campuses, and are currently projecting an FY 07 shortfall of
nearly $1.5 million for the region. In Los Angeles, we have fallen considerably short
of our enrollment goals in our two largest programs, Psychology and MFA in Creative
Writing.
The tragic, lingering illness of the Director of Admissions and the subsequent
changes in the Admissions department, together with an inadequate process for
setting realistic enrollment goals, are the key issues that produced this outcome. We
are addressing both, having hired new leadership in Admissions, and entrusted
direct supervision of the Admissions department to the Provost on each campus.
Drs. Mulnix and King will jointly assume responsibility for Marketing,
Communications, and Web operations on the two campuses. In Los Angeles, a
campus-wide Budget Committee has been put in place to assure greater
transparency and collaboration in the development and oversight of the budget
process. In Santa Barbara, the Campus Council of Santa Barbara will serve as the
Budget Committee.
Growing enrollment is the key priority for the entire region, both in new and existing
programs of study. With existing programs offering the greatest short-term
opportunities, the following are in process:
J Articulation Agreements are being put in place with several two-year
institutions in the region
J In the Psychology department,
o a new LGBT Specialization and Certificate program has been launched
in Los Angeles, believed to be the first of its kind in the nation
o a new Weekend Cohort delivery model has been launched
o a new one-day-a-week delivery model has been launched
J A new Certificate program in Publishing Arts is being launched in the MFA
program, and ways to collaboratively offer variations on the core MFA
curriculum are being devised on both campuses
J Discussion is currently underway with Antioch University New England to co-
offer the Green MBA and Certificate in Organizational Development programs
in Southern California.
New initiatives (longer term) in various stages of planning and discussion include:
J multiple international programs
J an MFA in Public Art program
J a BFA program to be offered at both campuses

4 design and development of a new Ph.D. program to be offered collaboratively
at both campuses
4 an Environmental Studies concentration area in the BA completion programs
The AU Southern California communities are bloodied but unbowed and remain very
optimistic about the future of both campuses. We believe that the combination of
new leadership, more effective managerial structures and processes, strategic
prioritization of maximizing enrollment in existing programs while planning to put new
programs in place, all bode well for AU Southern California quickly putting this
difficult period behind us and steadily building toward fully realizing our enormous
potential to serve the region’s diverse communities.
We know that we have several years of hard work ahead of us in this task, and take
very seriously our responsibility to repay our debt to the university beginning FY 07-
08, while we continue to build. I deeply regret the strain that our current
circumstances place on the university; I take full responsibility for what has
happened on my watch; I am grateful for the assistance we are receiving from our
colleagues and confident that we can right this ship.
LucyAnn
Geiselman
President

Antioch University Southern California
2006-07 Summary
Revenues
Tuition & Fees
Less Tuition Discounts
Net Tuition and Fees
Gifts
Grants
Other Income
Total E&G Revenue
Auxiliary Enterprises
Released From Restrictions
Total Revenues
Operating Expenses
Salaries & Wages
Benefits
Training & Development
Student Aid Services
Special Events
Supplies
Business Operations
Plant Maintenance
Interest Expense
Resale Costs
Miscellaneous
ContingencyIReserves
Campus Contingency, Mandatory
Campus Contingency, Discretionary
Overhead
To the University
Other (Intercampus Agree & Univ Conf)
Depreciation
Total Operating Expenses
Excess Revenue over Expenses
Annual Budget Conversion to Cash
Capital Expenditures
Add back Depreciation
Total Cash Items
Net Cash Basis Budget
Basis

Antioch University – Southern California
Enrollment Worksheet
2006 -2007 Academic Year
Academic
Program
Los Angeles
B A
MAOM
MAP
M FA
M FA
MAE
Other
Sub-Total
Santa Barbara
Summer
FTUE’s
90.16
21.01
209.72
0.00
0.00
23.78
Sub – Total
Projected Fee Revenue
Gross Tutitlon & Fees
Tuition Discounts
Net Tuition & Fees
1 1 1
344.671 401.881 524.63 1 542.201 1,813.381 $9,608,017
Fall
FTUE’s
107.00
16.98
259.70
0.00
0.00
18.20
$10,669,662~
-$I
,061,645
168.41
513.08
Projected
Winter
FTUE’s
91.94
18.52
273.73
103.00
20.01
17.43
262.54
664.42
Projected
Spring
FTUE’s
11 3.20
22.38
257.14
103.00
20.01
26.47
296.28
820.91
Projected
Total
FTUE’s
402.30
78.89
1,000.29
206.00
40.01
85.89
247.27
789.48
Tuition
Rate
$4,770
$4,918
$5,300
$5,938
$8,845
$4,918
974.51
2,787.89
Projected
Tuition Revenue
$1,918,982
$387,962
$5,301,542
$1,223,228
$353,920
$422,383
$4,950,004
$684,347
$15,242,368
-$135,000
$15,107,368
Budgeted
Tuition Revenue
$1,980,504
$344,260
$6,122,294
$1,092,592
$760,670
$369,342
$5,346,998
$743,853
$16,760,513
-$135,000
$16,625,513
Anticipated
Revenue Shortfall
-$61,522
$43,702
-$820,752
$1 30,636
-$406,750
$53,041
-$396,994
=$59,506
-$1,518,145
$0
-$I
,618,145

ANTIOCH UNIVERSITY McGREGOR
2006-07 First Quarter Performance
The current fiscal year budget was built on the ”actual” of the previous year. Any
overstated revenue projections for
FY’2006
were removed and a conservative (and
still vibrant) budget was built. Recognizing that the University audit is still not
available, our detailed internal analysis shows year-to-date tuition revenue short by
$39,058 but we have developed concrete plans to meet our overall fiscal year
revenue projection. This report will address first how the current budget was
prepared, the outcomes and projections for the remainder of the year.
Budget Preparation Guidelines
We did the following to prepare for this year’s budget:
I. Eliminated three faculty positions from programs that showed deficits in new
or continuing students.
2. Kept a position vacant that was a 50% faculty line.
3. Added a Chief Financial Officer. Since the time of the consolidation of Yellow
Springs financial offices, we have been relying on the University
CFOlControIler
and lost all internal financial skills sets aligned with that
position. This move toward removing our own financial officer caused great
stress on the leadership team (particularly our Director of Operations Darlene
Robertson) and we are pleased to move forward with a very competent
administrator in Gerald Hunter – who also has extensive enrollment
management expertise.
4. Eliminated one technology position, relying more on the consolidated services
model established several years ago by the Board.
5. Left the Registrar’s position vacant as our Director of Operations has that
expertise.
6. Moved all building oversight responsibility to Glenn Watts, budgeted as a high-
level 50% position.
7. Encouraged and then required extensive review of retention challenges.
8. Sought additional teacher licensure “endorsement programs” (i.e., Reading)
from the State. This was approved after the budget was submitted.
9. Began implementation on other new certificates and seminar programs.
10. We had to budget more funds for University overhead which we fully
recognize as needed – however it decreased our operating dollars and
continues to be a genuine concern for the future.
Outcomes: Current Status
I. The summer budget was positive. This is due to moving some enrollments (in
one program) earlier into the fiscal year. One of the declining programs
(Community College Management) began in the summer and met the original

budgeted goal. lmpot?antly, this is the first year all students in that program
are external and paying full tuition.
2. This fall quarter we enrolled 260 new students, nearly achieving our fall new
student enrollment goal of 267. The key factor in this “miss” versus going
“over” budget are changes at the State Department of Education that recently
impacted our Leadership
M.Ed.
and our Middle Childhood Education (MCE)
program. For example, MCE now requires substantially more courses than
most adult learners prefer to take. Therefore it will decline as a major.
However, we went considerably over on another major (I I students total) –
what is traditionally called Special Education. Therefore, we are quite
comfortable with the flexibility within the School of Education and are working
toward duplicating that responsiveness in all
61schools.”
3. We are very pleased at a robust enrollment that exceeded budget by eight
students in Graduate Management, which reverses the shortfall last year.
4. We met our Undergraduate Studies goal; we now have to retain these
learners at a higher rate than in the past and efforts are underway to do so.
What We are Doing: Projections and Predictions for the Remainder of the
Fiscal Year
I. We will make the budget for this year.
2. We already show good signs for winter enrollment, which is our largest
enrollment period.
3. We have strict and disciplined retention studies and plans underway.
4. Our new CFO will remain completely on top of budget and advise us of new
enrollment path possibilities; he is already working closely with enrollment
management counselors and leaders.
5. We have plans to bring in new sources of revenue. For example: The
University signed an agreement for 20 days over 2 years for Tom
Bordenkircher to get trained in value-added assessments in public schools
and higher education. During the first year of training, Tom Bordenkircher was
the only higher education faculty at the training who was also selected to sit
on the House Bill
I07
writing team to develop an on-line VA training module
for use in higher education classrooms. Tom passed all assessments in year
one and was awarded a certificate in June, 2006. He will now train all school
districts in Montgomery County over the next year. His time is being
reimbursed by the
Battelle
Corp.
In
addition, since he is faculty, he is serving
as the faculty of record for 5 days of training this year. Nine teachers have
signed agreements to receive credit for the training through Tom and will be
paying the university 625.00 per person for 5 hours of ELSS credit.
6. The President has established a relationship with the Ohio Schools Facilities
Commission and will be advising the major urban districts on best practices for
creative school design as it links to learning. This will be run through our new
Academy for Teaching and Learning.
7. Education has definitive plans to make up the shortfalls in any majors through
other majors and new endorsements (Reading).

8. We are launching a new delivery format for Graduate Management – GMP2 in
January.
9. We will move toward a more inclusive (and likely zero-based) budgeting
process to assure a very strong financial future for the campus.
Barbara Gellman-Danley
President

Antioch University McGregor
2006-07 Summary
Revenues
Tuition & Fees
Less Tuition Discounts
Net Tuition and Fees
Gifts
Grants
Other Income
Total E&G Revenue
Released From Restrictions
Total Revenues
Operating Expenses
Salaries & Wages
Benefits
Training & Development
Student Aid Services
Special Events
Supplies
Business Operations
Plant Maintenance
Interest Expense
Miscellaneous
ContingencyIReserves
Campus Contingency, Mandatory
Overhead
To the University
Other (Intercampus Agree & Univ
Depreciation
Total Operating Expenses
Excess Revenue over Expenses
Conf)
Annual Budget Conversion to Cash Basis
Capital Expenditures
Borrowing Proceeds
Add back Depreciation
Total Cash Items
Net Cash Basis Budget

Antioch University – McGregor
Enrollment Worksheet
FTE Definitions B.A. Completion – 12Cr. Hrs.=lFTE
M.A. Ind. Liberal & Prof, – $2760=1FTE
All other graduate programs -8Cr. Hrs.=l!TE
Note – Fall quarter tuition revenue generation is not complete.
2006-2007 Academic Year
Academic
Program
School of Liberal Studies (SLS)
B.A. Completion
M.A. lnd. Liberal & Prof.
M.A. Conflict Resolution
SLS TOTALS
School of Management (SOM)
M.A. Management
M.A. Corn. College Mgt.
SOM TOTALS
School of Education (SOE)
M.Edo Licensure
M.Ed.
Leadership
SOE TOTALS
Student Fees
Total Tuition & Fee Income
Actual
Fall
FTE’s.
119
86
35
240
53
20
73
334
58
392
705
Actual Summer
FTE’s.
56
75
37
168
0
2 I
21
25
44
69
258
Budget Winter
FTE1s.
126
83
46
256
48
22
70
35 I
99
450
776
Tuition
I Revenue
$1 ,3541469
$910,298
$5061632
$217711399
$429,766
‘ $19g1214
$6281981
$21785,709
$771,064
$31556,773
$442,181
$713991334
Budget Spring
FTFs.
119
92
34
245
44
I0
53
305
80
385
684
Total
FTE’s.
420
336
153
909
145
73
217
1,015
28 I
1,296
2,422
Tuition
Rate
$269
$2,706
$41 5
$371
$343
$343
$343

Ph.D. in Leadership & Change
2006-07 First Quarter Performance
Enrollment:
We begin Academic Year 2006-07 with 11 1 HC. When adjusted for those in
candidacy (even though they are
fulltime
students), we have a 106.5 FTE (for tuition
calculation because 15 students are in candidacy).
I
had projected 2006-07 at
105HC 1 88 FTE.
This means we are beginning the year
+9HC,
and in terms of FTE for tuition
calculation, we are
+I
8.5FTE.
The reasons for the better-than-projected enrollment numbers are: A Cohort 6 class
of 28 entered, three more than the projected 25. There was a larger continuing
student body because there was smaller attrition coming into the year than expected.
Also, once in candidacy, students seem to be staying longer in candidacy than
projected.
Financial:
The projected tuition-and-fees income for 2006-07 was $1,645,050. The current
actual, given the enrollment numbers above would be: $1,918,125, which is
$273,075 surplus. Obviously, students will be moving into candidacy, others will be
graduating, and still others will be withdrawing, so the current FTE will not hold
steady through the year.. .but clearly, we are beginning 2006-07 in great condition.
Laurien Alexandre
Director

PhD in Leadership and Change
Revenues
Tuition & Fees
Less Tuition Discounts
Net Tuition and Fees
Gifts
Grants
Other Income
Total Revenues
Operating Expenses
Salaries & Wages
Benefits
Training & Development
Student Aid Services
Special Events
Supplies
Business Operations
Plant Maintenance
Interest Expense
Miscellaneous
Contingency/Reserves
Campus Contingency, Mandatory
Overhead
To the University
Other (Intercampus Agree & Univ
Depreciation
Total Operating Expenses
Excess Revenue over Expenses
06-07 Summary
Conf)
Annual Budget Conversion to Cash Basis
Capital Expenditures Q 0 G 0
Add back Depreciation -5.542 -2,136 0 2,136
Total Cash Items
Net Cash Basis Budget I 8,6181 936,288[ 1,092,821 1 156,533

Antioch University – PhD
Enrollment Worksheet
2006 -2007 Academic Year
Academic
Program
Pre-Candidacy
Candidacy
Pre-Candidacy Maint
FTE Definition: Due to the fact that students in the
Ph.D.
program only have
full
time status, the numbers in this report are expressed in headcount instead of
FTE’s.
Actual Summer
Headcount
Total Projected Tuition
Budgeted Tuition
Projected Tuition Surplus
Variance from Budget:
PhD
is projected to generate a $273,075 surplus at this point in the year. This is due to the fact that the PhD has 18.5 FTE more than
budgeted. The total amount of the surplus will vary throughout the year as it is difficult to predict when students will enter candidacy. For purposes of this schedule, we
have left enrollment levels for Winter and Spring quarters at the level as of the end of the fall quarter.
97
15
1
Actual Fall
Headcount
11 3
94
16
1
Winter
Headcount
11 1
95
16
Spring
Headcount
Ill
95
16
Total
Headcount
I I I
38 1
63
2
Tuition
Rate
446
Tuition
Revenue
$4,650
$2,325
$2,325
$1,918,125
$1,645,050
$273,075 – –
$1,771,650
$146,475
$4,650

ANTIOCH UNIVERSITY ADMINISTRATION
2006-07 First Quarter Performance
The first quarter of FY07 budget is on target with 21.91 % of the revenue recorded
and 23.24% of the expenditure budget liquidated. We will continue to monitor the
revenue and expenses throughout the year according to the approved budget.
Thomas A. Faecke
Vice Chancellor and
Chief Financial Officer

University Central Administration
2006-07 Summary
Revenue
Gifts
Grants
Endowment Income
Other Income
Total E&G Revenue
Released From Restrictions
Net Overhead for Central Operations
Total Revenues
Operating Expenses
Salaries & Wages
Benefits
Training & Development
Special Events
Supplies
Business Operations
Plant Maintenance
Interest Expense
Miscellaneous
ContingencyIReserves
Campus Contingency, Mandatory
Other (Intercampus Agree & Univ
Depreciation
Total Operating Expenses
Excess Revenue over Expenses
Annual Budget Conversion to Cash Basis
Capital Expenditures
Principal Payments
Add back Depreciation
. . . . . . . . . . . . . . . . . . . , , .
Total Cash Items
Net Cash Basis Budget

University Central Administration
2006-07 Summary
Revenue
Gifts
Grants
Endowment Income
Other Income
Total E&G Revenue
Released From Restrictions
Net Overhead for Central Operations
Total Revenues
Operating Expenses
Salaries & Wages
Benefits
Training & Development
Special Events
Supplies
Business Operations
Plant Maintenance
Interest Expense
Miscellaneous
ContingencyIReserves
Campus Contingency, Mandatory
Other (Intercampus Agree & Univ
Depreciation
Total Operating Expenses
Conf)
Excess Revenue over Expenses
Annual Budget Conversion to Cash Ba
Capital Expenditures
Principal Payments
Add back Depreciation
Total Cash Items
Net Cash Basis Budget

ANTIOCH REVIEW
2006-07 First Quarter Performance
The Antioch Review 06-07 budget shows modest changes in purchased services,
printing and postage. Personnel costs are the same. We have just been notified by
the N.E.A. that a special invitational $10,000 “Challenge America: Reaching Every
Community” grant (only one for every Congressional District) was awarded to
increase our marketing capacity through the use of the Internet. We have a second
(competitive) grant for $20,000 pending with the N.E.A. and expect to hear about its
status in November. We have not budgeted any funds to support that proposed
activity. Our Ohio Arts Council grant was increased to $4700 in 06-07. We anticipate
that our gift income will decline, but will continue to try and expand our donor base.
Robert
Fogarty
Editor

Antioch Review
2006-07 Summary
Revenue
Gifts
Grants
Endowment Income
Other Income
Total E&G Revenue
Auxiliary Enterprises
Total Revenues
Operating Expenses
Salaries & Wages
Benefits
Training & Development
Supplies
Business Operations
Total Operating Expenses
ExcessRevenue
overExpenses
Annual Budget Conversion to Cash Basis
Add back Depreciation 0
Total Cash Items 0
Net Cash Basis Budget -12,441

WYSO PUBLIC RADIO
2006-07 First Quarter Performance
Projections for the 2006-2007 fiscal year include increased growth in
underwriting revenue, membership gifts and special events. We should be
able to reduce the deficit by
20°/
during the course of the year.
Paul Maassen
General Manager

Revenues
Gifts
Grants
Other Income
Total E&G Revenue
Total Revenues
opera tin^ Expenses -.
Salaries & wages
Benefits
Training & Development
Special Events
Supplies
Business Operations
Plant Maintenance
Interest Expense
Miscellaneous
Depreciation
Total Operating Expenses
Excess Revenue over Expenses
Annual Budget Conversion to Cash
Capitai Expenditures
Principal Payments
Add back Depreciation
Total Cash Items
Net Cash Basis Budget
WYSO
2006-07 Summary