2010 A-133 Report - Finance - University of Michigan

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THE UNIVERSITY OF MICHIGAN Management's Discussion and Analysis (Unaudited)--Continued The following is a graphic illustration of revenues by source, both operating and nonoperating, which are used to fund the University’s operating activities for the year ended June 30, 2010 (amounts are presented in thousands of dollars). Significant recurring sources of the University’s revenues are considered nonoperating, as defined by GASB, such as state appropriations, distributions from investments, private gifts, and federal Pell grants. Fiscal Year 2010 Revenues for Operating Activities 16
THE UNIVERSITY OF MICHIGAN Management's Discussion and Analysis (Unaudited)--Continued The University measures its performance both for the University as a whole and for the University without its Health System and other similar activities. The exclusion of the Health System allows a clearer view of the operations of the schools and colleges, as well as central administration. The following is a graphic illustration of University revenues by source, both operating and nonoperating, which are used to fund operating activities other than the Health System, for the year ended June 30, 2010 (amounts are presented in thousands of dollars). Fiscal Year 2010 Revenues for Operating Activities Excluding Revenues from the University’s Health System Tuition and state appropriations are the primary sources of funding for the University's academic programs. There is a direct relationship between the growth or reduction in state support and the University’s ability to restrain tuition fee increases. Together, net student tuition and fees and base state appropriations increased 2 percent, or $26 million, to $1.23 billion in 2010, as compared to 3 percent, or $39 million, to $1.20 billion in 2009. 17
Page 1 and 2: The University of Michigan Reports
Page 3 and 4: Report of Independent Auditors The
Page 5 and 6: Introduction THE UNIVERSITY OF MICH
Page 7 and 8: THE UNIVERSITY OF MICHIGAN Manageme
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Page 27 and 28: Statement of Cash Flows THE UNIVERS
Page 31 and 32: THE UNIVERSITY OF MICHIGAN Consolid
Page 33 and 34: THE UNIVERSITY OF MICHIGAN Consolid
Page 35 and 36: THE UNIVERSITY OF MICHIGAN Notes to
Page 41 and 42: Note 2--Cash and Investments THE UN
Page 51 and 52: Note 6--Long-term Debt THE UNIVERSI
Page 55 and 56: Note 7--Derivative Instruments THE
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The University of Michigan Schedule
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University of Michigan Notes to Sch
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The University of Michigan Notes to
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This report is intended solely for
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In our opinion, based on our audit
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failures to the National Student Cl
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2010 A-133 Report - Finance - University of Michigan

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