Consolidated Statements of Activities
(In thousands $)
Years ended June 30, 2016 and 2015
2016 | 2015 | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Unrestricted | Temporary restricted |
Permanent restricted |
Total | Unrestricted | Temporary restricted |
Permanent restricted |
Total | |||
Operating activities: Revenue: |
||||||||||
Tuition and fees (net of $ 196,002and $185,192 in student aid in 2016 and 2015, respectively) | $ 475,796 | — | — | $ 475,796 | $ 465,653 | — | — | $ 465,653 | ||
Government grants | 9,168 | — | — | 9,168 | 10,260 | — | — | 10,260 | ||
Private gifts and grants | 13,886 | 2,489 | — | 16,375 | 18,985 | 1,163 | — | 20,148 | ||
Investment income | 208 | — | — | 208 | 151 | — | — | 151 | ||
Endowment investment return used in operations | 10,741 | — | — | 10,741 | 9,809 | — | — | 9,809 | ||
Auxiliary revenue | 52,282 | — | — | 52,282 | 48,888 | — | — | 48,888 | ||
Other | 5,213 | — | — | 5,213 | 7,541 | — | — | 7,541 | ||
Net assets released from restriction | 3,763 | (3,763) | — | — | 3,175 | (3,175) | — | — | ||
Total revenue | 571,057 | (1,274) | — | 569,783 | 564,462 | (2,012) | — | 562,450 | ||
Expenses: |
||||||||||
Salaries and benefits | 338,379 | — | — | 338,379 | 329,776 | — | — | 329,776 | ||
General expenses | 79,805 | 79,805 | 75,170 | — | — | 75,170 | ||||
Occupancy | 43,162 | — | — | 43,162 | 43,374 | — | — | 43,374 | ||
Depreciation | 39,018 | — | — | 39,018 | 40,182 | — | — | 40,182 | ||
Printing, postage, and supplies | 11,341 | — | — | 11,341 | 11,981 | — | — | 11,981 | ||
Interest | 13,348 | — | — | 13,348 | 14,673 | — | — | 14,673 | ||
Library materials | 5,540 | — | — | 5,540 | 5,526 | — | — | 5,526 | ||
Total expenses | 530,593 | — | — | 530,593 | 520,682 | — | — | 520,682 | ||
Excess (deficiency) of operating revenue over expenses | 40,464 | (1,274) | — | 39,190 | 43,780 | (2,012) | — | 41,768 | ||
Nonoperating activities: |
||||||||||
Net realized gain/investment income reinvested | (17,168) | — | 49 | (17,119) | 11,231 | — | 67 | 11,298 | ||
Change in accumulated net unrealized gain on investment | (3,750) | (3,022) | — | (6,772) | (31,826) | (3,349) | — | (35,175) | ||
Gain (loss) on disposal or sale of long-lived assets | (312) | — | — | (312) | 8,016 | — | — | 8,016 | ||
Private gifts and grants | — | — | 124 | 124 | — | — | 204 | 204 | ||
Capital gifts | 391 | 2,274 | — | 2,665 | 424 | 205 | — | 629 | ||
Capital gifts released from restriction | 667 | (667) | — | — | 265 | (265) | — | — | ||
Change in value of charitable term trust | — | — | 1,597 | 1,597 | — | — | 994 | 994 | ||
Gain/Loss on bond defeasance | — | — | — | — | 237 | — | — | 237 | ||
Government capital grants | — | — | — | — | 11,461 | — | — | 11,461 | ||
Change in postretirement benefit obligation other than net periodic benefit cost | 10,147 | — | — | 10,147 | (813) | — | — | (813) | ||
Increase (decrease) in net assets from nonoperating activities | (10,025) | (1,415) | 1,770 | (9,670) | (1,005) | (3,409) | 1,265 | (3,149) | ||
Increase (decrease) in net assets | 30,439 | (2,689) | 1,770 | 29,520 | 42,775 | (5,421) | 1,265 | 38,619 | ||
Net assets at beginning of year | $ 809,867 | $ 36,035 | $ 57,695 | $ 903,597 | $ 767,092 | $ 41,456 | $ 56,430 | $ 864,978 | ||
Net assets at end of year | $ 840,306 | $ 33,346 | $ 59,465 | $ 933,117 | $ 809,867 | $ 36,035 | $ 57,695 | $ 903,597 | ||
Source: University Financial Statements. |
IRMA 2016 |