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ERIC Number: ED091995
Record Type: Non-Journal
Publication Date: 1974-Jan
Pages: 75
Abstractor: N/A
Update Study of the Financial Condition of Independent Higher Education in Pennsylvania.
Durkee, Frank M.
The financial condition of independent higher education in Pennsylvania is examined based on data provided by 62 independent colleges and universities. Results of the study indicate: (1) Although the absolute enrollment in the independent sector of higher education continued to increase during the 10-year period, 1963-72, the independent sector's share of enrollment declined 13.9 percent. (2) The productivity of independent higher education institutions is shown by their degree output, which was 47.5 percent of the state total in 1972. (3) As a group the Commission for Independent Colleges and Universities (CICU) institutions reported an operating deficit of $4.6 million in 1969-70 but a $5.5-million surplus in 1971-72, a difference of +$10.1 million. (4) Of the six major operating accounts, only the educational and general account showed significant improvement, 1969-72. (5) Additions to plant during 1969-72 by CICU institutions amounted to $330.9 million. (6) The average expenditure per fulltime equivalent student increased from $3,764 in 1969-70 to $4,057 in 1971-72. (7) The Pennsylvania Higher Education Assistance Agency reported an increase in the number of scholarships awarded to students attending CICU institutions from 20,783 to 23,093, 1969-72, an increase of 11.1 percent. (8) The book value of endowment funds of CICU institutions increased from $558.2 million to $744.7 million, 1969-72. (9) The liquid net worth of CICU institutions increased, 1969-72, from $311.5 million to $335.5. (Author/MJM)
Publication Type: Reports - Research
Education Level: N/A
Audience: N/A
Language: N/A
Sponsor: N/A
Authoring Institution: Pennsylvania State Dept. of Education, Harrisburg. Bureau of Information Systems.
Identifiers - Location: Pennsylvania