Consolidated Balance Sheets (In thousands $)
June 30, 2018 and 2017
Assets | 2018 | 2017 | |||
---|---|---|---|---|---|
Cash and cash equivalents | $ | 59,598 | 59,445 | ||
Student receivables, net of allowance for doubtful accounts of $14,028 and $12,861 in 2018 and 2017, respectively | 19,299 | 19,677 | |||
Other receivables, net of allowance for doubtful accounts of $60 and $72 in 2018 and 2017, respectively | 5,166 | 20,978 | |||
Prepaid and other assets | 11,740 | 12,646 | |||
Contributions receivable, net of allowance for uncollectible pledges of $1,852 and $1,527 in 2018 and 2017, respectively | 11,706 | 14,185 | |||
Government receivables for student grants and loans | 11,757 | 11,741 | |||
Deposit for facility construction | 8,621 | 31,044 | |||
Beneficial interest in charitable term trust | 17,664 | 18,949 | |||
Bond funds held in trust for future capital projects | - | 34,915 | |||
Investments | 722,542 | 631,289 | |||
Land, buildings, and equipment, net of accumulated depreciation | 821,956 | 769,658 | |||
Total assets | $ | 1,690,049 | 1,624,527 | ||
Liabilities and Net Assets | |||||
Liabilities: | |||||
Accounts payable and accrued expenses | $ | 56,807 | 56,277 | ||
Deferred tuition revenue | 31,975 | 31,752 | |||
Deposits and deferred revenue | 29,222 | 30,745 | |||
Other financing obligation | 82,257 | 82,500 | |||
Bonds and notes payable, net of debt issuance consts | 330,610 | 353,277 | |||
Government advances for student loans | 10,559 | 10,390 | |||
Accrued postretirement benefits | 58,718 | 59,471 | |||
Total liabilities | $ | 600,148 | 624,412 | ||
Net assets: | |||||
Unrestricted | 1,000,150 | 907,070 | |||
Temporarily restricted | 29,713 | 33,481 | |||
Permanently restricted | 60,038 | 59,564 | |||
Total net assets | $ | 1,089,901 | 1,000,115 | ||
Total liabilities and net assets | $ | 1,690,049 | 1,624,527 | ||
Source: University Financial Statements. | IRMA 2018 |