The introductory section includes the President s Letter, the College s principal officials and an organization chart. The financial section includes the report of independent accountants, this management s discussion and analysis, the basic financial statements, notes to financial statements and supplemental information. The statistical section includes selected unaudited financial and demographic information, generally presented on a multi-year basis. The increase in depreciation was due to significant investments in computer technology over the last three years. The computer technology was acquired to prepare the College s academic and administrative systems for the year 2000.
Computer technology is depreciated over four years.
Over the last three years, the College made significant investments in computer technology in order to meet its year 2000 needs. The following is a graphic illustration of operating expenses. The decrease in Net Investment in Capital Assets is due to the increase in depreciation expense.