Article 1 In order to further standardize the financial behavior of institutions of higher learning, strengthen financial management and supervision, improve the efficiency of fund use, and promote the healthy development of higher education, in accordance with the "Financial Rules for Institutions" (Ministry of Finance Order No. 68 ) and relevant national legal systems, this system is formulated based on the characteristics of colleges and universities.
Article 2 This system applies to full-time general colleges and universities and adult colleges and universities (hereinafter referred to as colleges and universities) organized by people's governments at all levels. The above-mentioned schools run by other social organizations and individuals may refer to this system.
Article 3 The basic principles of financial management of colleges and universities are: implement relevant national laws, regulations and financial rules and regulations; adhere to the policy of running schools diligently and frugally; correctly handle the relationship between career development needs and fund supply, social benefits and The relationship between economic benefits and the relationship between the interests of the country, the school and the individual.
Article 4 The main tasks of financial management of colleges and universities are: to reasonably prepare school budgets, effectively control budget execution, prepare school final accounts completely and accurately, and truly reflect the school’s financial status; to raise funds through multiple channels in accordance with the law and strive to save money. Expenditure; establish and improve the school's financial system, strengthen economic accounting, implement performance evaluation, and improve the efficiency of fund use; strengthen asset management, truly and completely reflect the status of asset use, rationally allocate and effectively utilize assets, and prevent asset losses; strengthen the management of school economic activities Financial control and supervision to prevent financial risks. Article 5 Higher education institutions shall implement a financial management system of “unified leadership and centralized management”; larger schools may implement a financial management system of “unified leadership and hierarchical management”.
Article 6: The financial work of colleges and universities shall be subject to the responsibility system of the school (dean).
Colleges and colleges should set up the post of chief accountant. The chief accountant is a member of the school's deputy school-level administrative leadership, assists the school (dean) president in managing the school's financial work, and assumes corresponding leadership and management responsibilities.
Any institution of higher education that has a chief accountant shall not have a vice president (dean) whose powers overlap with those of the chief accountant.
Article 7: Institutions of higher learning should set up a separate first-level financial institution to uniformly manage the school’s financial work under the leadership of the school (dean) dean and chief accountant.
Article 8 The financial institutions established by non-independent legal entities within colleges and universities due to work needs shall serve as the secondary financial institutions of the school. Second-level financial institutions shall abide by and implement the financial rules and regulations uniformly formulated by the school, and accept the unified leadership, supervision and inspection of the school's first-level financial institutions.
Article 9 The financial institutions of colleges and universities should be equipped with full-time accounting personnel. Accounting personnel should have the qualifications and abilities appropriate to their positions. The transfer in and out of accounting personnel, the evaluation of professional and technical positions, and the appointment, removal, transfer or replacement of the heads of secondary financial institutions within the school shall be handled by the school's first-level financial institution in conjunction with relevant departments. Article 10 The budget of colleges and universities refers to the annual financial revenue and expenditure plan prepared by colleges and universities based on career development goals and plans.
The budget of colleges and universities consists of revenue budget and expenditure budget.
Article 11: The state implements budget management methods for institutions of higher learning that determine revenue and expenditure, provide fixed-amount or fixed-item subsidies, do not make up for overexpenditures, and use carryovers and balances in accordance with regulations.
Quota and fixed-item subsidies are determined based on relevant national policies and financial resources, as well as career characteristics, career development goals and plans, school revenue and expenditure, and asset status.
Article 12 The budget preparation of institutions of higher learning shall follow the principle of “living within one’s means and balancing revenue and expenditure”. The preparation of revenue budgets should be proactive and prudent; the preparation of expenditure budgets should be all-round, focused, and frugal.
Article 13 Colleges and universities shall refer to the budget execution, carryover and balance of previous years, and prepare the budget according to the budget annual business development goals, plans and financial resources, as well as factors and measures for increase or decrease in annual revenue and expenditure. Preparation of budget according to regulations.
The budget of institutions of higher learning must balance their own revenue and expenditure and shall not prepare a deficit budget.
Article 14 The budget proposal proposed by the first-level financial institution of the institution of higher learning shall be submitted to the competent department after collective deliberation and approval by the school leadership team, and shall be reviewed and summarized by the competent department and reported to the financial department (the first-level budget unit shall report directly to Finance department, the same below). Colleges and universities prepare budgets based on the budget control numbers issued by the financial department. The budget is reviewed and summarized by the competent department and reported to the financial department. It is implemented after review and approval through legal procedures.
Article 15 Institutions of higher learning shall strictly implement the approved budget. During budget execution, the state generally does not adjust the budget of fiscal subsidy revenue and funds allocated from special fiscal accounts; when there are major adjustments to the business plans issued by superiors, or when expenditures are increased or reduced in accordance with relevant national policies, which will have a greater impact on budget execution , colleges and universities should report to the competent department for review and then report to the financial department for budget adjustment. If the budget for parts other than financial subsidy revenue and funds allocated from the special financial account needs to be increased or reduced, the school shall make the adjustment on its own and report it to the competent department and the financial department for filing.
After the income budget is adjusted, the expenditure budget will be increased or decreased accordingly.
Article 16 The final accounts of colleges and universities refer to the annual report prepared by colleges and universities based on the results of budget execution.
Article 17 Higher education institutions shall prepare annual final accounts in accordance with regulations, which shall be reviewed and summarized by the competent department and submitted to the financial department for approval.
Article 18 Colleges and universities shall strengthen the review and analysis of final accounts, ensure the authenticity and accuracy of final accounts data, and standardize the management of final accounts. Article 19 Income refers to the non-repayable funds obtained by colleges and universities in accordance with the law from carrying out teaching, scientific research and other activities.
Article 20 The income of colleges and universities includes:
(1) Financial subsidy income, that is, various financial allocations obtained by colleges and universities from the financial departments at the same level. Including:
1. Financial education appropriations, that is, various financial education appropriations obtained by colleges and universities from the financial departments at the same level.
2. Financial scientific research appropriations, that is, various financial scientific research appropriations obtained by colleges and universities from the financial departments at the same level.
3. Other financial allocations, that is, financial allocations beyond the scope of the above-mentioned allocations in this article that colleges and universities obtain from the financial departments at the same level.
(2) Business income, that is, the income obtained by colleges and universities from teaching, scientific research and auxiliary activities. Including:
1. Educational income refers to the income obtained by colleges and universities from teaching and auxiliary activities, including: tuition fees, accommodation fees, and entrustment fees collected from individual students or units through academic and non-academic education. Training fees, examination fees, training fees and other educational income.
Funds that should be turned over to the national treasury or special financial accounts in accordance with relevant national regulations are not included in education revenue; funds allocated to schools from special financial accounts and funds that are not turned over to the national treasury or special financial accounts upon approval , included in education income.
2. Scientific research income refers to the income obtained by colleges and universities from carrying out scientific research and its auxiliary activities, including: income obtained by undertaking scientific research projects, carrying out scientific research collaboration, transforming scientific and technological achievements, conducting scientific and technological consulting, etc. Scientific research income does not include financial allocations obtained from financial departments at the same level according to departmental budget affiliation.
(3) Subsidy income from superiors, that is, non-financial subsidy income obtained by colleges and universities from competent departments and superior units.
(4) Income turned over by affiliated units, that is, income turned over by independent accounting units affiliated to colleges and universities in accordance with relevant regulations.
(5) Operating income, that is, the income obtained by colleges and universities from non-independent accounting business activities in addition to teaching, scientific research and auxiliary activities.
(6) Other income, that is, various incomes beyond the scope of the above provisions of this article, including investment income, interest income, donation income, etc.
Article 21 The income of institutions of higher learning must be legal and compliant. All fees should strictly comply with the charging scope and standards stipulated by the state, and legal bills should be used; all income should be included in the school budget, unified accounting, and unified management.
Article 22: The funds turned over to the national treasury or special financial accounts in accordance with regulations by institutions of higher learning shall be promptly turned over in full and in accordance with the relevant regulations on centralized collection by the national treasury, and shall not be concealed, detained, intercepted, misappropriated or siphoned off.
Article 23 Expenditure refers to the fund consumption and losses incurred by colleges and universities in carrying out teaching, scientific research and other activities.
Article 24: Expenditures of institutions of higher learning include:
(1) Business expenditures, that is, basic expenditures and project expenditures incurred by institutions of higher learning in carrying out teaching, scientific research and auxiliary activities.
Basic expenditures refer to the expenditures incurred by colleges and universities to ensure their normal operation, complete teaching, scientific research and other daily tasks, including personnel expenditures and public expenditures.
Project expenditures refer to the expenditures incurred by colleges and universities in addition to basic expenditures in order to complete specific work tasks and career development goals.
(2) Operating expenses, that is, the expenses incurred by colleges and universities when carrying out non-independent accounting business activities other than teaching, scientific research and their auxiliary activities. Operating expenses should be proportional to operating income.
(3) Subsidy expenditures for affiliated units, that is, expenditures incurred by colleges and universities to subsidize affiliated units with income other than fiscal subsidy income.
(4) Expenditures turned over to superiors, that is, expenditures turned over to superior units by colleges and universities in accordance with the regulations of the financial department and the competent department.
(5) Other expenditures, that is, various expenditures beyond the scope of the above provisions of this article. Including interest expenses, donation expenses, etc.
Article 25: Institutions of higher learning shall include all expenditures in the school budget and establish and improve an expenditure management system.
Article 26 The expenditures of colleges and universities shall strictly comply with the expenditure scope and expenditure standards stipulated in the relevant national financial rules and regulations; if there are no unified provisions in the relevant national financial rules and regulations, the school shall make a report based on the conditions of the school. The competent authorities and financial departments shall file the records. If the regulations of colleges and universities violate the legal system and national policies, the competent departments and financial departments shall order corrections.
Article 27 Special funds with designated projects and purposes obtained by colleges and universities from the financial department and the competent department shall be earmarked and accounted for separately, and the special funds shall be reported to the financial department or the competent department in accordance with regulations. Usage of funds; after the project is completed, a written report on the final accounts of special fund expenditures and use effects shall be submitted, and shall be subject to inspection and acceptance by the financial department or the competent department and other relevant departments.
Article 28 Colleges and universities shall strictly implement relevant regulations such as the centralized payment system of the treasury and the government procurement system.
Article 29: Institutions of higher learning shall strengthen expenditure management and shall not make false statements; they shall conduct expenditure performance evaluation to improve the effectiveness of the use of funds.
Article 30 Colleges and universities shall strengthen the management of various types of bills in accordance with the law to ensure that the sources of bills are legal, the content is authentic, and the use is correct, and false bills are not allowed to be used. Article 31 Carryover and balance refer to the balance after the annual income and expenditure of colleges and universities are offset.
Carryover funds refer to funds that have been implemented but not completed in the current year's budget, or have not been implemented for some reason, and need to be used according to the original purpose in the next year.
The remaining funds refer to the funds remaining in the current year after the budget work goals have been completed or terminated for some reason.
Operating revenue and expenditure carryforwards and balances should be reflected separately.
Article 32 The management of the carryover and surplus funds of higher education institutions shall be implemented in accordance with the regulations of the financial department at the same level.
Article 33 The carryover of non-financial appropriations for colleges and universities shall be carried forward to the next year for continued use in accordance with regulations. The balance of non-financial appropriations can be withdrawn from the employee welfare fund in accordance with relevant national regulations, and the remaining part can be used as a business fund to make up for the gap in the income and expenditure of colleges and universities in future years; if there are other national regulations, those regulations shall prevail.
Article 34: Institutions of higher learning shall strengthen the management of business funds, follow the principle of balancing revenue and expenditure, make overall arrangements, and use them rationally. Expenditures shall not exceed the scale of the fund. Article 35 Special funds refer to funds for special purposes withdrawn or set up by institutions of higher learning in accordance with regulations.
Article 36 The management of special funds shall follow the principles of first withdrawal and later use, balance of revenue and expenditure, and dedicated funds, and expenditure shall not exceed the scale of the fund.
Article 37 special funds include:
(1) Employee welfare fund, which is withdrawn according to a certain proportion of the non-financial appropriation balance and transferred in accordance with other regulations, for Funds for collective welfare facilities, collective welfare benefits, etc. for unit employees.
(2) Student scholarship fund, that is, in accordance with relevant national regulations, it is withdrawn according to a certain proportion of career income, and is disbursed in relevant subjects of career expenditures for tuition reduction, work-study, and on-campus support. Funds such as interest-free loans, on-campus scholarships and grants, and special hardship subsidies.
(3) Other funds, that is, other special funds withdrawn or set up according to the needs of business development in accordance with other relevant regulations.
Article 38 If the state has unified regulations on the withdrawal ratios and management methods of various funds, they shall be implemented in accordance with the unified regulations; if there are no unified regulations, they shall be determined by the competent department in conjunction with the financial department at the same level. Article 39 Assets refer to economic resources that can be measured in currency that are possessed or used by institutions of higher learning, including various properties, claims and other rights.
Article 40 The assets of institutions of higher learning include current assets, fixed assets, projects under construction, intangible assets and external investments.
Article 41 Current assets refer to assets that can be liquidated or consumed within one year, including cash, various deposits, zero balance account quotas, receivables and prepayments, and inventories. wait.
The inventory mentioned in the preceding paragraph refers to the assets stored for consumption by institutions of higher learning in carrying out teaching, scientific research and other activities, including various materials, fuels, low-value consumables, etc.
College institutions should establish and improve internal management systems for cash and various deposits. Receivables and prepayments must be cleared and settled in a timely manner and must not be left on the books for a long time; for receivables and prepayments that cannot be recovered, the reasons must be identified, responsibilities must be clarified, and written off after approval in accordance with prescribed procedures. Inventories should be inspected regularly or irregularly to ensure that the accounts are consistent. Inventory gains and losses should be dealt with in a timely manner.
Article 42 Fixed assets refer to fixed assets with a service life of more than one year, a unit value of more than 1,000 yuan (including: special equipment with a unit value of more than 1,500 yuan), and which basically maintain their original condition during use. Assets in physical form. Although the unit value does not meet the prescribed standards, a large number of similar materials with a durability of more than one year are managed as fixed assets.
The fixed assets of colleges and universities are generally divided into six categories: houses and structures; special equipment; general equipment; cultural relics and displays; books, files; furniture, appliances, equipment, animals and plants. The detailed catalog of fixed assets of colleges and universities is formulated by the Ministry of Education and reported to the Ministry of Finance for filing.
Article 43: Institutions of higher learning shall calculate depreciation on fixed assets using the straight-line method or the workload method. The depreciation of fixed assets does not take into account the residual value. Fixed assets that have been fully depreciated and can continue to be used shall continue to be used and managed in a standardized manner.
The provincial financial department may work with the competent department to formulate specific methods for depreciation calculation. No depreciation is provided for cultural relics and displays, books, archives, animals and plants, etc.
Depreciation of fixed assets is not included in the expenses of colleges and universities.
Article 44: Institutions of higher learning shall conduct regular or irregular inspections of fixed assets. Before the end of the year, a comprehensive inventory should be conducted to ensure that accounts, cards, and items are consistent. The profit and loss of fixed assets shall be handled in accordance with regulations.
Higher education institutions should formulate school fixed asset management measures in accordance with relevant national regulations and in combination with the actual situation of the school.
Article 45: Projects under construction refer to construction projects that have incurred necessary expenditures but have not yet reached the state of delivery for use.
When a project under construction reaches the state of delivery for use, the final financial accounts for the completion of the project and the delivery of assets for use shall be handled in accordance with relevant regulations.
Article 46 Intangible assets refer to assets that do not have a physical form but can provide users with certain rights, including patent rights, trademark rights, copyrights, land use rights, non-patented technologies and other Property rights.
Intangible assets obtained by colleges and universities through outsourcing, self-development or other means should be reasonably valued and recorded in time.
When a school transfers intangible assets, it shall conduct asset evaluation in accordance with regulations, and the income obtained shall be handled in accordance with relevant national regulations. Expenditures incurred by colleges and universities for acquiring intangible assets shall be included in business expenses.
Article 47: Institutions of higher learning shall amortize intangible assets using the straight-line method within their useful life. For intangible assets with indefinite useful lives, the amortization method shall comply with relevant national regulations.
Amortization of intangible assets is not included in the expenses of colleges and universities.
Article 48: External investment refers to the investment by colleges and universities in other units using monetary funds, physical objects, intangible assets, etc. in accordance with the law.
College institutions should strictly control foreign investment. On the premise of ensuring the normal operation and development of the school, if foreign investment is allowed in accordance with relevant national regulations, the relevant approval procedures must be followed.
Colleges and universities are not allowed to use fiscal appropriations and their balances for external investment, and are not allowed to engage in investments such as stocks, futures, funds, and corporate bonds. Except as otherwise provided by the state.
When colleges and universities invest externally with non-monetary assets such as physical objects and intangible assets, they shall conduct asset appraisals in accordance with relevant national regulations and reasonably determine the value of the assets.
Article 49 The asset disposal of institutions of higher learning shall follow the principles of openness, fairness, impartiality, competition and selection of the best, and relevant approval procedures shall be strictly implemented.
When leasing or lending assets, institutions of higher learning shall, in accordance with relevant national regulations, obtain approval from the competent authorities and then submit them to the financial department at the same level for approval.
Article 50: The income from foreign investment by colleges and universities and the income obtained from the leasing and lending of state-owned assets shall be included in the school budget, unified accounting and unified management.
Income from asset disposals of institutions of higher learning should be managed on two lines of revenue and expenditure in accordance with relevant national regulations.
Article 51 Colleges and universities shall, in accordance with relevant national regulations, establish and improve asset management systems, strengthen asset management, rationally allocate assets in accordance with the principles of scientific standards, strict control, and ensure the needs of career development, and establish asset management systems. Enjoy and use the system to improve the efficiency of asset use. Article 52 Liabilities refer to debts borne by institutions of higher learning that can be measured in currency and need to be repaid with assets or services.
Article 53: Liabilities of institutions of higher learning include borrowed amounts, amounts payable and received in advance, amounts payable, escrow amounts, etc.
Borrowed funds refer to various types of funds borrowed by colleges and universities from banks and other financial institutions.
Amounts payable and received in advance include employee salaries payable by colleges and universities, notes payable, accounts payable, accounts received in advance and other payables.
Amounts payable include funds collected by colleges and universities that should be turned over to the national treasury or special fiscal accounts, taxes payable, and other amounts that should be turned over in accordance with relevant national regulations.
Escrow funds refer to various types of funds that institutions of higher learning accept entrustment to manage on their behalf.
Article 54: Institutions of higher learning shall classify and manage liabilities of different natures, sort them out in a timely manner and handle settlements in accordance with regulations, and ensure that all liabilities are returned within the prescribed period.
Article 55: Institutions of higher learning shall establish and improve financial risk control mechanisms, standardize and strengthen the management of borrowed funds, strictly implement the approval procedures, and shall not borrow debts or provide guarantees in violation of regulations. Specific examination and approval methods shall be formulated by the competent department in conjunction with the financial department at the same level. Article 56 Institutions of higher learning shall implement internal cost and expense management based on the needs of career development.
Article 57 Expenses refer to the current asset consumption and losses incurred by institutions of higher learning to complete teaching, scientific research, management and other activities.
Article 58 Higher education institutions shall, on the basis of expenditure management, include expenditures with benefits related to the current fiscal year into current expenses; expenditures with benefits related to two or more fiscal years shall be included in current expenses; In accordance with relevant regulations, expenses are included in installments in the form of depreciation of fixed assets and amortization of intangible assets.
Article 59 Cost accounting refers to the collection, distribution and calculation of various expenses incurred in the business activities of colleges and universities according to relevant accounting objects and accounting methods.
Article 60 Expenses are collected according to their purpose, mainly including: education expenses, scientific research expenses, management expenses, retirement expenses and other expenses.
Education expenses refer to various expenses incurred by colleges and universities in teaching, teaching assistants, student affairs and other educational activities.
Scientific research expenses refer to various expenses incurred by colleges and universities to complete the scientific research tasks undertaken.
Administrative expenses refer to various expenses incurred by colleges and universities to complete school administrative tasks. It mainly includes: various expenses incurred by the school-level administrative departments of colleges and universities, union funds, litigation fees, intermediary fees, stamp duties, real estate taxes, vehicle and vessel use taxes, etc. borne by colleges and universities.
Retirement expenses refer to various expenses borne by colleges and universities in terms of social security and welfare benefits for retirees.
Other expenses refer to other expenses that colleges and universities cannot attribute to the above-mentioned expenses in this article. It mainly includes: subsidies to affiliated units, expenditures turned over to superiors, financial expenses, donation expenditures, etc.
Article 61: Higher education institutions shall correctly collect various expenses actually incurred; if they cannot be collected directly, they shall be reasonably allocated according to certain principles and standards.
Article 62: Colleges and universities should gradually refine cost accounting based on actual needs, and carry out accounting work such as the total cost of education and the per-student cost of schools, departments and majors. The accounting of scientific research activity costs should be detailed to scientific research projects.
The detailed implementation rules for cost accounting of institutions of higher learning shall be formulated by the finance department of the State Council in conjunction with the education authorities.
Higher education institutions that implement internal cost and expense management should establish a mechanism for checking costs and related expenditures, as well as a cost and expense analysis and reporting system. Article 63 With the approval of relevant state departments, when a higher education institution is transferred, cancelled, merged or split, it shall conduct financial liquidation.
Article 64 The financial liquidation of colleges and universities shall, under the supervision and guidance of the competent department and the financial department, comprehensively sort out the school’s properties, claims, debts, etc., and prepare a property catalog and a list of claims and debts , put forward the basis for property valuation and methods for handling claims and debts, do a good job in the handover, reception, transfer and management of state-owned assets, and properly handle various remaining issues.
Article 65 After the liquidation of a higher education institution is completed, and subject to review by the competent department and approval by the financial department, its assets will be handled in accordance with the following methods:
(1) Due to changes in affiliation , to become a higher education institution transferred from the institutional system, all assets will be transferred free of charge, and the funding quota will be transferred accordingly.
(2) All assets of a canceled higher education institution shall be approved and disposed of by the competent department and the financial department.
(3) All assets of a merged higher education institution will be transferred to the receiving unit or the newly established unit, and the excess state-owned assets after the merger shall be approved and disposed of by the competent department and the financial department.
(4) For a spun-off higher education institution, the assets shall be transferred to the spun-off higher education institution in accordance with relevant regulations, and the funding quota shall be transferred accordingly. Article 66 The financial report is a summary written document that reflects the financial status and career results of the institution of higher learning for a certain period of time. Institutions of higher learning should regularly provide financial reports to relevant competent departments and financial departments as well as other relevant statement users.
Article 67 The annual financial report submitted by colleges and universities shall include the balance sheet, income and expenditure statement, fiscal appropriation income and expenditure statement, fixed asset investment final account statement and other main statements, relevant appendices and financial conditions. Instructions, etc.
Article 68 Financial Statement, mainly describing the income and expenditures, carryovers, balances and distributions of higher education institutions, changes in assets and liabilities, external investment, asset leasing and lending, asset disposal, and fixed asset investment , performance evaluation, matters that have a significant impact on the financial status of this period or the next period, and other matters that need to be explained.
Article 69: Financial analysis of institutions of higher learning is an important part of financial management work. Institutions of higher learning should, in accordance with the regulations of the competent departments and the needs of school financial management, scientifically set financial analysis indicators and carry out financial analysis work.
Financial analysis indicators mainly include indicators reflecting the budget management, financial risk management, expenditure structure, financial development capabilities and other aspects of colleges and universities (see the attached table for financial analysis indicators). Article 70 The main contents of financial supervision of institutions of higher learning include:
(1) The scientificity, authenticity and completeness of budget preparation and financial reports; the effectiveness and balance of budget execution;
(2) Legality and compliance of various income and expenditures;
(3) Management of carryovers and balances;
(4) Asset management The standardization and effectiveness of the company;
(5) The compliance and risk level of liabilities;
(6) Inspect and correct problems that violate financial rules and regulations.
Article 71 The financial supervision of institutions of higher learning shall combine pre-event supervision, in-process supervision, and post-event supervision, and combine daily supervision with special inspections.
Article 72: Institutions of higher learning shall establish and improve supervision systems such as internal control systems, economic responsibility systems, and financial information disclosure systems, and disclose financial information in accordance with the law.
Article 73: Institutions of higher learning shall accept the supervision of competent departments and financial and auditing departments in accordance with the law. Article 74 This system shall be implemented for the financial management of capital construction investment in colleges and universities. However, if the national capital construction investment financial management system has other provisions, such provisions shall prevail.
Article 75: Institutions of higher learning shall formulate internal financial management measures in accordance with this system and in combination with the actual situation of the school, and submit them to the competent department for filing.
Article 76 This system will come into effect on January 1, 2013. The "Financial System for Higher Education Institutions" promulgated by the Ministry of Finance and the former National Education Commission on June 23, 1997 was abolished at the same time.
Attachment: Financial analysis indicators of colleges and universities (omitted)