Consolidated Statements of Activities
(In thousands $)
Years ended June 30, 2018 and 2017
2018 | 2017 | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Unrestricted | Temporary restricted |
Permanent restricted |
Total | Unrestricted | Temporary restricted |
Permanent restricted |
Total | |||
Operating activities: Revenue: |
||||||||||
Tuition and fees, net of $223,851 and $205,498 in student aid in 2018 and 2017, respectively | $ 474,316 | — | — | $ 474,316 | $ 476,626 | — | — | $ 476,626 | ||
Government grants | 10,254 | — | — | 10,254 | 10,485 | — | — | 10,485 | ||
Private gifts and grants | 20,988 | 2,437 | — | 23,425 | 17,259 | 1,826 | — | 19,085 | ||
Investment income | 884 | — | — | 884 | 324 | — | — | 324 | ||
Endowment investment return used in operations | 12,281 | — | — | 12,281 | 11,302 | — | — | 11,302 | ||
Auxiliary revenue | 55,578 | — | — | 55,578 | 51,234 | — | — | 51,234 | ||
Other | 7,027 | — | — | 7,027 | 5,939 | — | — | 5,939 | ||
Net assets released from restriction | 3,433 | (3,433) | — | — | 2,937 | (2,937) | — | — | ||
Total revenue | 584,761 | (996) | — | 583,765 | 576,106 | (1,111) | — | 574,995 | ||
Expenses: |
||||||||||
Salaries and benefits | 342,522 | — | — | 342,522 | 345,705 | — | — | 345,705 | ||
General expenses | 90,078 | — | — | 90,078 | 81,756 | 81,756 | ||||
Occupancy | 45,244 | — | — | 45,244 | 45,453 | — | — | 45,453 | ||
Depreciation | 38,400 | — | — | 38,400 | 37,410 | — | — | 37,410 | ||
Printing, postage, and supplies | 9,586 | — | — | 9,586 | 11,542 | — | — | 11,542 | ||
Interest | 9,603 | — | — | 9,603 | 10,427 | — | — | 10,427 | ||
Library materials | 5,516 | — | — | 5,516 | 5,122 | — | — | 5,122 | ||
Total expenses | 540,949 | — | — | 540,949 | 537,415 | — | — | 537,415 | ||
Excess (deficiency) of operating revenue over expenses | 43,812 | (996) | — | 42,816 | 38,691 | (1,111) | — | 37,580 | ||
Nonoperating activities: |
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Net realized gain/investment income reinvested | 35,015 | 10 | 138 | 35,163 | (3,230) | — | 286 | (2,944) | ||
Change in accumulated net unrealized gain on investment | (21,587) | 170 | — | (21,417) | 39,269 | 2,269 | — | 41,538 | ||
Gain (loss) on disposal or sale of long-lived assets | 745 | — | — | 745 | (784) | — | — | (784) | ||
Private gifts and grants | — | — | 222 | 222 | — | — | 546 | 546 | ||
Capital gifts | 230 | (93) | — | 137 | 369 | (399) | — | (30) | ||
Capital gifts released from restriction | 2,859 | (2,859) | — | — | 624 | (624) | — | — | ||
Change in value of charitable term trust | — | — | 114 | 114 | — | — | (733) | (733) | ||
Loss on bond defeasance | — | — | — | — | (28,357) | — | — | (28,357) | ||
Distributions from EAF | 34,157 | — | — | 34,157 | — | — | — | — | ||
Government capital grants | 35 | — | — | 35 | — | — | — | — | ||
Other components of net periodic postretirement benefit cost | 1,283 | — | — | 1,283 | (2,303) | — | — | (2,303) | ||
Change in postretirement benefit obligation other than net periodic benefit cost | (3,469) | — | — | (3,469) | 22,485 | — | — | 22,485 | ||
Increase (decrease) in net assets from nonoperating activities | 49,268 | (2,772) | 474 | 46,970 | 28,073 | 1,246 | 99 | 29,418 | ||
Increase (decrease) in net assets | 93,080 | (3,768) | 474 | 89,786 | 66,764 | 135 | 99 | 66,998 | ||
Net assets at beginning of year | $ 907,070 | $ 33,481 | $ 59,564 | $ 1,000,115 | $ 840,306 | $ 33,346 | $ 59,465 | $ 933,117 | ||
Net assets at end of year | $ 1,000,150 | $ 29,713 | $ 60,038 | $ 1,089,901 | $ 907,070 | $ 33,481 | $ 59,564 | $ 1,000,115 | ||
Source: University Financial Statements. |
IRMA 2018 |