Revenues

IN MILLIONS for the Fiscal Year {FY} ended June 30... 2013 2012 2011
MBA Tuition & Fees $ 107 $ 99 $ 96
Executive Education Tuition 146 142 132
Publishing 180 165 152
Endowment Distribution 117 109 100
Unrestricted Current Use Gifts 22 19 17
Housing, Rents, & Other 14 11 11
Interest Income 1 1 1
total revenues
$ 587 m.
$ 546 m.
$ 509 m.

Expenses

IN MILLIONS for the Fiscal Year {FY} ended June 30... 2013 2012 2011
Salaries & Benefits $ 255 $ 241$ 219
Publishing & Printing 6759 55
Space & Occupancy 4847 44
Supplies & Equipment 910 10
Professional Services 4035 31
Fellowships 4037 36
University Assessments 1817 15
Debt Service 66 7
Other Expenses 5952 39
total expenses
$ 542 m.
$ 504 m.
$ 456 m.
  2013 2012 2011
Cash from Operations $ 45 $ 42$ 53
Use of Endowment Gifts or Appreciation 2224 18
cash before capital activities
$ 67
$ 66
$ 71
  2013 2012 2011
Capital Expenses $ (78) $ (51) $ (34)
Funding of Capital Projects for Future Year(26) 1 (2)
Use of Gifts for Capital Projects 11 17 3
net capital expenses
$ (93)
$ (33)
$ (33)
  2013 2012 2011
New Borrowings $ 0 $ 0$ 0
Debt Principal Payments (8)(4) (9)
Other Activity (2)11 (49)
net debt & other
$ (10)
$ 7
$ (58)
  2013 2012 2011
Change in Unrestricted Reserves
$ (36)
$ 40
$ (20)
Beginning Balance, Unrestricted Reserves
$ 119
$ 79
$ 99
Ending Balance, Unrestricted Reserves
$ 83
$ 119
$ 79