2011-12 Financial Statement Highlights
Balance Sheet Highlights
- Total net assets reflect very little change at $2.65 billion.
- Long-term investments increased $40 million to $1.8 billion. The total market value of the endowment at year end was $1.6 billion, reflecting a return of 2.76% and endowment use.
- Property, Plant and Equipment increased $108 million to $1.6 billion.
- Unrestricted net assets decreased by $73 million.
- Long-term debt increased from $746 million to $874 million due to principal payments. Subsequent to year end, the University issued $161.7 million of tax-exempt bonds.
Consolidated Balance Sheets as of June 30, 2012 and 2011
| ($ in thousands) | 2012 | 2011 |
| Assets | ||
| Cash and cash equivalents | $ 326,227 | $ 285,203 |
| Operating investments, at market | 209,016 | 209,393 |
| Collateral held for securities lending | - | 69,282 |
| Accounts receivable, net | 325,773 | 292,169 |
| Inventories, prepaid expenses and deferred charges | 52,816 | 48,957 |
| Contributions receivable, net | 90,927 | 51,556 |
| Notes receivable, net | 48,163 | 19,566 |
| Other assets | 11,936 | 15,536 |
| Investments held for long-term purposes | 1,822,954 | 1,783,356 |
| Property, plant and equipment, net | 1,561,957 | 1,453,775 |
| Interest in net assets of foundation | 12,330 | 13,743 |
| Investments in perpetual trusts held by others | 46,877 | 49,780 |
| Total Assets | $4,509,160 | $4,320,756 |
| Liabilities and Net Assets | ||
| Liabilities: | ||
| Accounts payable and accrued expenses | $ 388,337 | 305,494 |
| Advance receipt of sponsored research revenues | 23,472 | 25,618 |
| Deferred revenue | 50,775 | 52,069 |
| Third-party settlements payable, net | 100,989 | 96,386 |
| Securities lending liabilities | - | 69,282 |
| Accrued pension, post-retirement, post-employment obligations | 386,472 | 308,073 |
| Long-term debt | 874,209 | 745,913 |
| Asset retirement obligation | 19,016 | 18,057 |
| Refundable U.S. Government grants for student loans | 16,223 | 16,004 |
| Total Liabilities | 1,859,493 | 1,636,896 |
| Net assets: | ||
| Unrestricted | 1,745,673 | 1,818,709 |
| Temporarily restricted | 509,533 | 506,216 |
| Permanently restricted | 394,461 | 358,935 |
| Total Net Assets | 2,649,667 | 2,683,860 |
| Total Liabilities and Net Assets | $ 4,509,160 | $ 4,320,756 |
Page updated 08/30/2013
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