Report of the
Executive Vice President
& Chief Financial Officer

Report of Leonard W. Sandridge

Financial Highlights
Endowment Spending Policy
Faculty Salary Initiative
Growth Over Time

Management Responsibility
Auditor's Opinion

Balance Sheet
Changes in Fund Balances
Current Funds Revenues, Expenditures and Other Changes
Notes to Financial Statements

President's Report 1996-97 Contents

Financial Report 1996-1997