Final answer:
Financial statements prepared for public colleges and universities present net position as unrestricted, restricted, or net investment in capital assets.
Step-by-step explanation:
The financial statements prepared for public colleges and universities present net position as unrestricted, restricted, or net investment in capital assets. These are the three categories that classify the different net positions in the financial statements.
Unrestricted net position represents the portion of the institution's net position that is not subject to externally-imposed restrictions. This includes resources that can be used for any purpose deemed necessary by the institution.
Restricted net position represents the portion of the institution's net position that is subject to externally-imposed restrictions. These restrictions may be placed by donors, grantors, or laws, and limit the use of the resources to specific purposes.
Net investment in capital assets represents the portion of the institution's net position that is invested in long-term capital assets. These assets include land, buildings, equipment, and infrastructure that are used for the institution's operations.