Consolidated Balance Sheets (In thousands $)
June 30, 2017 and 2016
Assets | 2017 | 2016 | |||
---|---|---|---|---|---|
Cash and cash equivalents | $ | 59,445 | 64,410 | ||
Student receivables, net of allowance for doubtful accounts of $12,861 and $12,014 in 2017 and 2016, respectively | 19,677 | 19,173 | |||
Other receivables, net of allowance for doubtful accounts of $72 and $71 in 2017 and 2016, respectively | 20,978 | 13,296 | |||
Investments | 631,289 | 561,050 | |||
Prepaid and other assets | 12,646 | 13,205 | |||
Contributions receivable, net of allowance for uncollectible pledges of $1,527 and $1,274 in 2017 and 2016, respectively | 14,185 | 16,052 | |||
Government receivables for student grants and loans | 11,741 | 12,059 | |||
Deposit for facility construction | 31,044 | 82,500 | |||
Beneficial interest in charitable term trust | 18,949 | 21,061 | |||
Bond funds held in trust for future capital projects | 34,915 | 70,729 | |||
Land, buildings, and equipment, net of accumulated depreciation | 769,658 | 656,299 | |||
Total assets | $ | 1,624,527 | 1,529,834 | ||
Liabilities and Net Assets | |||||
Liabilities: | |||||
Accounts payable and accrued expenses | $ | 56,277 | 46,952 | ||
Deferred tuition revenue | 31,752 | 31,775 | |||
Deposits and deferred revenue | 30,745 | 32,773 | |||
Capital lease obligations | - | 40 | |||
Other financing obligation | 82,500 | 48,760 | |||
Bonds and notes payable, net of debt issuance consts | 353,277 | 344,523 | |||
Government advances for student loans | 10,390 | 10,353 | |||
Accrued postretirement benefits | 59,471 | 81,541 | |||
Total liabilities | $ | 624,412 | 596,717 | ||
Net assets: | |||||
Unrestricted | 907,070 | 840,306 | |||
Temporarily restricted | 33,481 | 33,346 | |||
Permanently restricted | 59,564 | 59,465 | |||
Total net assets | $ | 1,000,115 | 933,117 | ||
Total liabilities and net assets | $ | 1,624,527 | 1,529,834 | ||
Source: University Financial Statements. | IRMA 2017 |