2011-12 Financial Statement Highlights
Statement of Activities Highlights
“The Bottom Line”
- Net assets for the University as a whole and its affiliates decreased by -1.3 % or $-34 million.
Change in Net Assets from Current Year Activities
(Summarizes Statements of Activities)
| ($ in Thousands) | University | Affiliated Entities | ||
| 2012 | 2011 | 2012 | 2011 | |
| Operating Change in Net Assets | $ 90,721 | $ 88,092 | $ 16,671 | $ 14,075 |
| Non-Operating Change in Net Assets | (107,188) | 192,949 | (34,568) | 21,052 |
| Change in Net Assets | $ (16,467) | $ 281,041 | $ (17,897) | $ 21,052 |
- Consolidated operating activities resulted in a positive change in net assets of $107.4 million. University operating activities increased net assets by $90.7 million, and the operations of affiliated entities increased net assets by $16.7 million.
- University non-operating activities decreased net assets by $107.2 million. Affiliated entities non-operating activities decreased net assets by $34.6 million. The consolidated increase to net assets from non-operating activities is $141.8 million.
Change in Net Assets from Operations
Consolidated Statements of Activities for Years Ended June 30, 2012 and 2011
| ($ in thousands) | 2012 | 2011 |
| Operating revenues: | ||
| Tuition and fees | $ 360,695 | $ 343,537 |
| Less scholarships and fellowships | (151,430) | (142,321) |
| Net tuition and fees | 209,265 | 201,216 |
| State and local appropriations | 1,851 | 1,875 |
| Grants and contracts | 396,145 | 438,022 |
| Gifts and pledges | 111,805 | 61,854 |
| Hospital and faculty practice patient care activities | 1,860,382 | 1,783,587 |
| Auxiliary enterprises | 88,728 | 79,653 |
| Interest income apprec/(deprec) of operating investments | 5,537 | 13,538 |
| Educational activities | 28,540 | 29,894 |
| Royalty income | 34,431 | 42,318 |
| Other sources | 14,252 | 13,730 |
| Long-term investment income and gains allocated to operations | 88,390 | 87,717 |
| Total operating revenues | 1,839,326 | 2,753,404 |
| Operating expenses: | ||
| Salaries and wages | 1,369,458 | 1,306,985 |
| Fringe benefits | 400,322 | 367,618 |
| Total compensation | 1,769,780 | 1,674,603 |
| Supplies | 350,767 | 344,487 |
| Business and professional | 190,815 | 195,798 |
| Utilities | 52,253 | 53,918 |
| Maintenance and facilities costs | 114,210 | 112,914 |
| Depreciation | 163,619 | 158,441 |
| Interest | 30,604 | 29,344 |
| Other | 59,881 | 81,732 |
| Total operating expenses | 2,731,929 | 2,651,237 |
| Change in net assets from operating activities | 107,397 | 102,167 |
| Non-operating activities: | ||
| Long-term investment activities: | ||
| Investment income | 12,492 | 17,260 |
| Net appreciation (depreciation_ | (8,394) | 263,027 |
| Total long-term investment activities | 4,098 | 280,287 |
| Long-term investment income and gains allocated for operations | (88,390) | (87,717) |
| Loss on extinguishment of debt | (636) | - |
| Other changes, net | (55,043) | 10,861 |
| Change in valuation of annuities | (1,619) | (3,505) |
| Change in net assets from non-operating activities | (141,590) | 199,926 |
| Change in net assets | (34,193) | 302,093 |
| Beginning net assets | 2,683,860 | 2,381,767 |
| Ending net assets | $ 2,649,667 | $ 2,683,860 |
Statement of Activities 2011-12
Page updated 08/30/2013
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