Review the 2014 financial statements of Hamilton College in Chapter 2, and respond to the following questions:
1. What percentage of the college's total revenues (including nonoperating items and revenues of all funds) is attributable to tuition and fees (net of scholarship aid, because scholarships are, in effect, tuition discounts)? Do you think that, relative to other revenues, tuition is a fairly stable revenue? Explain.
2. A note to the financial statements indicates that the college's board of trustees designates only a portion of the college's cumulative investment return for support of current operations (both restricted and unrestricted). How much was so designated in 2014? Taking into account that amount, what was the college's net income from investments for the year?
3. What are likely examples of "auxiliary enterprises"? Taken collectively, were they profitable in 2014?
4. How much of temporarily restricted funds did the college expend during the year?
5. What percentage of the college's total assets is attributable to investments? Of the investments, approximately what percentage is most likely attributable to endowments?
6. A note to the financial statements reports that compensation costs were over $69 million. Why is that amount not reported on the statement of activities?