Financial Statements
Complete Financial Statements (.pdf)
Financial Highlights
Statement of Activities
Balance Sheet
Cash Position
Endowment Assets and Similar Funds
Debt and Credit Ratings
Sponsored Research and Gifts
Strong Memorial Hospital
Related performance data
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Financial Statement Highlights
Debt and Credit Ratings
Debt
- During 2002-03 the University's longterm debt decreased to $444.1 million.
- Principal payments of $27.0 million were made during the year.
Credit Ratings
- Ratings were reviewed by Moody's and Standard & Poor's in conjunction with Revenue Bonds, Series 2003.
- Existing ratings were confirmed. A1 Moody's (October 2003), A+ Standard & Poor's (November 2003).
- Excerpts of most recent (2003) rating agency opinions:
Moody's Investors Service rating is based on the University's:
- Diversified enrollment, with highly reputable graduate programs complementing the University's improved undergraduate demand profile;
- Strong performance by the health system, although heavy exposure to health care remains a risk;
- Healthy financial resources and modest additional near term debt plans; and
- Good operations, driven by revenue growth in the healthcare and research enterprises.
Standard & Poor's rating reflects:
- History of balanced financial operations;
- Successful fundraising efforts and growth in sponsored research;
- Relatively stable demand trends, with good selectivity coupled with strong student quality and good student retention; and
- A large endowment ($131,000 per student).
