Revenues

IN MILLIONS for the Fiscal Year {FY} ended June 30... 2012 2011 2010
MBA Tuition & Fees $ 99 $ 96 $ 92
Executive Education Tuition 142 132 113
Publishing 165 152 135
Endowment Distribution 109 100 101
Unrestricted Current Use Gifts 19 17 13
Housing, Rents, & Other 11 11 11
Interest Income 1 1 2
total revenues
$ 546 m.
$ 509 m.
$ 467 m.

Expenses

IN MILLIONS for the Fiscal Year {FY} ended June 30... 2012 2011 2010
Salaries & Benefits $ 241 $ 219 $ 203
Publishing & Printing 59 55 51
Space & Occupancy 47 44 41
Supplies & Equipment 10 10 9
Professional Services 35 31 22
Fellowships 37 36 35
University Assessments 17 15 15
Debt Service 6 7 7
Other Expenses 52 39 32
total expenses
$ 504 m.
$ 456 m.
$ 415 m.
  2012 2011 2010
Cash from Operations $ 42 $ 53 $ 52
Use of Endowment Gifts or Appreciation 24 18 13
cash before capital activities
$ 66
$ 71
$ 65
  2012 2011 2010
Capital Expenses $ (51) $ (34) $ (14)
Use of Gifts for Capital Projects 17 3 3
net capital expenses
$ (34)
$ (31)
$ (11)
  2012 2011 2010
New Borrowings $ 0 $ 0 $ 0
Debt Principal Payments (4) (9) (7)
Other Activity 12 (51) (44) 
net debt & other
$ 8
$ (60)
$ (51)
  2012 2011 2010
Change in Unrestricted Reserves
$ 40
$ (20)
$ 3
Beginning Balance, Unrestricted Reserves
$ 79
$ 99
$ 96
Ending Balance, Unrestricted Reserves
$ 119
$ 79
$ 99