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 $298,849 and $279,976 in student aid in 2018 and 2017, respectively | $ 427,047 | — | $ 427,047 | $ 426,664 | — | $ 426,664 | ||||
Government grants | 13,384 | — | 13,384 | 49,287 | — | 49,287 | ||||
Private gifts and grants | 23,315 | 3,923 | 27,238 | 8,439 | 15,573 | 24,012 | ||||
Contributed nonfinancial assets | 670 | — | 670 | 915 | — | 915 | ||||
Investment income | 889 | — | 889 | 295 | — | 295 | ||||
Endowment investment return used in operations | 37,174 | — | 37,174 | 35,530 | — | 35,530 | ||||
Auxiliary revenue | 56,724 | — | 56,724 | 53,816 | — | 53,816 | ||||
Other | 4,515 | — | 4,515 | 7,168 | — | 7,168 | ||||
Net assets released from restriction | 9,711 | (9,711) | — | 9,638 | (9,638) | — | ||||
Total revenue | 573,429 | (5,788) | 567,641 | 591,752 | 5,935 | 597,687 | ||||
Expenses: |
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Salaries and benefits | 369,210 | — | 369,210 | 343,179 | — | 343,179 | ||||
General expenses | 103,581 | — | 103,581 | 107,270 | — | 107,270 | ||||
Occupancy | 43,595 | — | 43,595 | 45,490 | — | 45,490 | ||||
Depreciation and amortization | 41,863 | — | 41,863 | 40,383 | — | 40,383 | ||||
Printing, postage, and supplies | 6,812 | — | 6,812 | 6,812 | — | 6,812 | ||||
Interest | 8,074 | — | 8,074 | 8,351 | — | 8,351 | ||||
Library materials | 5,630 | — | 5,630 | 5,531 | — | 5,531 | ||||
Total expenses | 578,765 | — | 578,765 | 557,016 | — | 557,016 | ||||
Excess (deficiency) of operating revenue over expenses | (5,336) | (5,788) | (11,124) | 34,736 | 5,935 | 40,671 | ||||
Nonoperating activities: |
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Investment return (loss), net | 101,987 | 5,001 | 106,988 | (124,246) | (12,799) | (137,045) | ||||
Investment return allocated to operations | (37,174) | — | (37,174) | (35,825) | — | (35,825) | ||||
Gain (loss) on disposal or sale of long-lived assets | (832) | — | (832) | (227) | — | (227) | ||||
Private gifts and grants | — | 75 | 75 | — | 87 | 87 | ||||
Capital gifts | 97 | 33 | 130 | 289 | (1,217) | (928) | ||||
Change in value of charitable term trust | — | (814) | (814) | — | (3,118) | (3,118) | ||||
Other components of net periodic postretirement benefit cost | 776 | — | 776 | 10,959 | — | 10,959 | ||||
Change in postretirement benefit obligation other than net periodic benefit cost | (1,071) | — | (1,071) | — | — | — | ||||
Increase (decrease) in net assets from nonoperating activities | 63,783 | 4,295 | 68,078 | (149,050) | (17,047) | (166,097) | ||||
Increase (decrease) in net assets | 58,447 | (1,493) | 56,954 | (114,314) | (11,112) | (125,426) | ||||
Net assets at beginning of year | $ 1,201,603 | $ 131,740 | $ 1,333,343 | $ 1,315,917 | $ 142,852 | $ 1,458,769 | ||||
Net assets at end of year | $ 1,260,050 | $ 130,247 | $ 1,390,297 | $ 1,201,603 | $ 131,740 | $ 1,333,343 | ||||
Source: University Financial Statements. |
IRMA 2018 |
