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6-30-08 6-30-07 12-31-07 12-31-06
Operating Expenses
Personnel Services 17,151$ 16,124$
Scholarships and Waivers 1,899 1,338 1,005 427
Utilities and Communications 1,634 1,445
Contractual Services 1,231 2,916
Other Services and Expenses 2,087 2,585 327 429
Materials and Supplies 2,642 2,111 197 276
Depreciation 2,569 2,217 64 58
Total Operating Expenses
29,213$ 28,736$ 1,593$ 1,190$
Operating Expenses
(In Thousands)
College Component Unit
$ $

The following chart presents the College’s operating expenses for the 2007-08 and 2006-07 fiscal years:
Operating Expenses: College
(In Thousands)
$17,151
$1,899
$1,634
$1,231
$2,087
$2,642
$2,569
$16,124
$1,338
$1,445

¾ Contractual services decreased $1.69 million due to the loss of the grant that funded the operations of the
Florida Center for Dual Addictions.
Component unit operating expense changes were the result of the following factors:
¾ The South Florida Community College Foundation, Inc. (Foundation), awarded $1 million in scholarships, an
increase of $577,425. In the current year, an individual donor gave a significant gift to the Take Stock in
Children program that paid for scholarships that did not occur in the prior year.
¾ Other services and expenses decreased by $102,500 and materials and supplies expense decreased by $79,000
because the Foundation did not do as much renovation in the Hotel Jacaranda as in the prior year.
Nonoperating Revenues and Expenses
Certain revenue sources that the College relies on to provide funding for operations, including State appropriations,
certain gifts and grants, and investment income, are defined by GASB as nonoperating. Nonoperating expenses
include capital financing costs and other costs related to capital assets. The following summarizes the College’s
nonoperating revenues and expenses for the 2007-08 and 2006-07 fiscal years:
2007-08
2006-07
State Appropriations 17,374$ 16,820$
Gifts and Grants 4,814 4,190
Investment Income 299 359
Other Nonoperating Revenue 2
Gain on Disposal of Capital Assets 335
Interest on Capital Asset-Related Debt (5)
Net Nonoperating Revenues 22,822$ 21,366$
Nonoperating Revenues (Expenses): College
(In Thousands)

Nonoperating revenues changes were the result of the following factors:
¾ State appropriations increased in total by $553,934. While the College was originally awarded $17,665,678,
cutbacks to balance the State budget reduced appropriations by $549,713.
¾ Gifts and grants in total increased by $624,163. Student aid increased by $797,499, mainly attributable to
increases in Bright Futures scholarships and Pell grants and other gifts and grants decreased $173,336.

The statement of cash flows also helps users assess:
¾ An entity’s ability to generate future net cash flows.
¾ Its ability to meet its obligations as they come due.
¾ Its need for external financing.
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A summary of the College’s cash flows for the 2007-08 and 2006-07 fiscal years is presented in the following table:
2007-08 2006-07
Cash Provided (Used) by:
Operating Activities (23,350)$ (19,652)$
Noncapital Financing Activities 22,215 21,052
Capital and Related Financing Activities (195) 185
Investing Activities 299 359
Net Increase (Decrease) in Cash and Cash Equivalents
(1,031) 1,944
Cash and Cash Equivalents, Beginning of Year 8,831 6,888
Cash and Cash Equivalents, End of Year
7,800$ 8,832$
Condensed Statement of Cash Flows: College
(In Thousands)

Major sources of funds came from State appropriations ($17.4 million), capital appropriations ($4.9 million), gifts
and grants ($4.8 million), and net student tuition and fees ($2 million). Changes in cash and cash equivalents were
the result of the following factors:
¾ Cash used by operating activities increased approximately $3.7 million. Tuition and fees provided $305,938
more while grants and contracts provided $2.2 million less than in the 2006-07 fiscal year. Personnel expenses
increased by $731,119, benefits increased by $294,981, scholarship increased by $552,417, and utilities and
communications increased by $188,737. While the ancillaries brought in additional cash flows of $134,719, the

Other Structures and Improvements 6,878 793 185 7,486
Furniture, Machinery, and Equipment 2,156 293 130 2,319
Total Accumulated Depreciation 26,671 2,569 2,251 26,989
Capital Assets, Net 55,498$ 14,520$ 11,413$ 58,605$
Capital Assets: College
(In Thousands)

The College made several additions during the current fiscal year. The Health and Science Building was completed
along with several site improvements to accommodate shifting student flow because the new building is large.
Renovations to building F, C, C2, and T were started and almost completed during the year. Renovations to the
Auditorium and to the Lake Placid Center are underway but are still in the planning phases. Other projects
completed included the addition of a parking lot to the Hardee Center, upgrades to the College’s computer network,
and a telephone system upgrade. Projects that are currently underway include renovations to the amphitheatre area
on the Highlands campus. College Trustees have approved a $7.3 million budget for capital projects for 2008-09.
More detailed information about the College’s capital assets is presented in the notes to financial statements.
D
EBT ADMINISTRATION
At fiscal year-end, the College was debt free. During the 2007-08 fiscal year, there were no bond sales. Additional
information about the College’s long-term liabilities is presented in the notes to the financial statements.
ECONOMIC FACTORS THAT WILL AFFECT THE FUTURE
South Florida Community College‘s economic condition is closely tied to that of the State of Florida. Because of
limited economic growth and increased demand for State resources, only a modest increase in State funding is
anticipated in the coming year. In response to the lack of substantial State appropriation increases, the Board of
Trustees increased the tuition rate 6 percent to take effect beginning with the Fall 2009 term. The College’s current
financial and capital plans indicate that the infusion of additional financial resources from an increase in tuition rates
will be necessary to maintain its present level of services.
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FEBRUARY 2009 REPORT NO. 2009-116
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62,265,907 5,905,119
TOTAL ASSETS
72,785,307$ 10,351,943$
LIABILITIES
Current Liabilities:
Accounts Payable 276,321$ 134,685$
Salary and Payroll Taxes Payable 246,849
Retainage Payable 262,426
Deferred Revenue 427,028
Deposits Held for Others 309,027 6,100
Long-Term Liabilities - Current Portion:
Compensated Absences Payable 90,647
Total Current Liabilities
1,612,298 140,785
Noncurrent Liabilities:
Compensated Absences Payable 1,885,241
Postemployment Health Care Benefits Payable 30,131
Total Noncurrent Liabilities
1,915,372
TOTAL LIABILITIES
3,527,670 140,785
SOUTH FLORIDA COMMUNITY COLLEGE
A COMPONENT UNIT OF THE STATE OF FLORID
A
STATEMENT OF NET ASSETS
A
s of June 30, 2008

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e
Component
Unit
REVENUES
Operating Revenues:
Student Tuition and Fees, Net of Scholarship
Allowances of $1,851,571 1,894,611$ $
Federal Grants and Contracts 262,653
State and Local Grants and Contracts 60,198
Nongovernmental Grants and Contracts 155,820
Sales and Services of Educational Departments 591,147
Auxiliary Enterprises 1,036,793
Other Operating Revenues 45,551 210,710
Total Operating Revenues
4,046,773 210,710
EXPENSES
Operating Expenses:
Personnel Services 17,151,444
Scholarships and Waivers 1,899,335 1,004,852
Utilities and Communications 1,634,036
Contractual Services 1,230,904
Other Services and Expenses 2,087,097 326,992
Materials and Supplies 2,641,529 197,087
Depreciation 2,569,087 63,767
Total Operating Expenses
29,213,432 1,592,698
Operating Loss
(25,166,659) (1,381,988)
NONOPERATING REVENUES

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CASH FLOWS FROM OPERATING ACTIVITIES
Tuition and Fees, Net 2,096,027$
Grants and Contracts 191,678
Payments to Suppliers (5,962,696)
Payments for Utilities and Communications (1,634,036)
Payments to Employees (13,573,752)
Payments for Employee Benefits (3,444,052)
Payments for Scholarships (1,899,335)
Auxiliary Enterprises 1,028,866
Sales and Service of Educational Departments 591,147
Other Payments (744,106)
Net Cash Used by Operating Activities
(23,350,259)
CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES
State Appropriations 17,374,161
Gifts and Grants Received for Other Than Capital or Endowment Purposes 4,814,130
Other Nonoperating Receipts 27,060
Net Cash Provided by Noncapital Financing Activities 22,215,351
CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES
Capital Appropriations 4,935,412
Capital Grants and Gifts 571,471
Proceeds from Sale of Capital Assets 4,291
Purchases of Capital Assets (5,706,624)
Net Cash Used by Capital and Related Financing Activities (195,450)
CASH FLOWS FROM INVESTING ACTIVITIES
Investment Income 299,111