Western Iowa Tech continues to be a good steward of the finances entrusted to carry out its mission. WIT received an unmodified opinion during its most recent audit, the highest rating possible with no internal control issues. (Audit conducted by Henjes, Conner & Williams, P.C., Certified Public Accountants.)
| General Fund Revenue |
| Tuition & Fees |
$ 20,057,095 |
| State Funding |
13,362,815 |
| Other Revenue |
4,084,427 |
| Property Tax |
2,359,415 |
| Total Revenue |
$ 39,863,752 |
| |
|
| General Fund Expenditures |
| Salaries & Benefits |
$ 24,896,086 |
| Services |
7,814,887 |
| Materials & Supplies |
3,243,656 |
| Other |
3,765,896 |
| Total Expenditures |
$ 39,720,525 |
| Change in Fund Balance |
- $ 143,227 |
| |
|
| College Assets |
| Current Assets |
$ 67,531,882 |
| Capital Assets Net of Accumulated Depreciation |
58,726,811 |
| Other Assets |
10,420,838 |
| Deferred outflows |
1,923,451 |
| Total Assets |
$ 138,602,982 |
| |
|
| Tuition and Fees |
50.3% |
|
| State Funding |
33.5% |
|
| Other Revenue |
10.3% |
|
| Property Tax |
5.9% |
|
| Instruction |
45.0% |
|
| General Institution |
20.1% |
|
| Physical Plant |
14.8% |
|
| Student Support |
12.8% |
|
| Administration |
7.3% |
|
| Career & Technical |
68.4% |
|
| Arts & Sciences |
19.8% |
|
| Community Spending |
10.3% |
|
| Library |
1.5% |
|