Finance and Administration - Board of Trustees - The University of ...

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Finance and Administration Committee - V. Annual Report of the Treasurer, 2011 - InformationStatement of Net Assets JUNE 30, 20113ASSETSTHE UNIVERSITYOF TENNESSEEUNIVERSITY OFCHATTANOOGAFOUNDATION INC.UNIVERSITY OFTENNESSEEFOUNDATION INC.THE UNIVERSITY OFTENNESSEE RESEARCHFOUNDATION INC.Current assets:Cash and cash equivalents (Note 2)Investments (Notes 2, 22, 23, and 24)Accounts, notes, and grants receivable (net) (Note 4)Due from primary governmentInventoriesPrepaid Expenses and Deferred ChargesTotal Current Assets$$295,147,284.7596,924,156.88125,699,132.1110,330,283.157,264,575.313,236,758.36538,602,190.56$$8,646,928.00525,334.0044,722.009,216,984.00$$2,875,094.281,439,150.003,297,756.2767,850.0013,428.167,693,278.71$$4,925,360.003,351,769.732,123,562.27136,509.0010,537,201.00Noncurrent assets:Cash and cash equivalents (Note 2)Investments (Notes 2, 22, 23, and 24)Investment in UT - Battelle, LLC (Note 14)Accounts, notes, and grants receivable (net) (Note 4)Lease payments receivable (Note 18)Capital assets (net) (Notes 5, 22, and 24)Prepaid expenses and deferred chargesAssets held by the universityTotal noncurrent assetsTotal assets$ 617,470,041.75571,715,626.894,632,313.1888,621,344.8347,907,768.021,728,407,603.85202,461.223,058,957,159.74$ 3,597,559,350.30$ 100,200,293.00$421,836.0061,579,319.00415,261.00485,519.00163,102,228.00172,319,212.00$3,193,081.0426,102,830.6749,053,379.9534,998,088.42113,347,380.08$ 121,040,658.79$$376,901.00328,835.0060,606,479.0061,312,215.0071,849,416.00Current liabilities:Accounts payable (Note 7)Accrued liabilitiesDeferred revenueDue to component unitDeposits payableAnnuities payableLong-term liabilities, current portion (Notes 8, 22, 23, and 24)Deposits held in custody for othersDue to the universityTotal current liabilities$$88,686,791.5944,299,173.78114,399,613.392,123,562.274,973,544.901,213,584.4971,797,463.734,273,071.68331,766,805.83$$731,775.25143,440.001,715,000.002,153,743.00963,229.755,707,188.00$$2,565.4563,979.2015,733.892,182.6284,461.16$$7,070,404.00901,084.007,971,488.00Noncurrent liabilities:Deferred revenue (Notes 8 and 24)Long-term liabilities, noncurrent portion (Notes 8, 22, 23, and 24)Due to grantors (Note 8)Annuities payable (Note 8)Deposits held in custody for component unitsTotal noncurrent liabilitiesTotal liabilities$$15,500,438.71611,649,165.0136,201,013.405,507,214.6534,998,088.42703,855,920.191,035,622,726.02$ 80,373,946.00$80,373,946.0086,081,134.00$$168,042.86689,451.68857,494.54941,955.70$20,349,480.00654,922.0021,004,402.00$ 28,975,890.00Invested in capital assets, net of related debtRestricted:Nonexpendable:Scholarships and fellowshipsLibrariesResearchInstructional department usesAcademic supportOtherExpendable:Scholarships and fellowshipsLibrariesResearchInstructional department usesAcademic supportLoansCapital projectsDebt serviceOtherUnrestricted (Note 9)Total net assets$ 1,198,044,555.13192,851,899.1613,807,689.6518,800,105.71135,559,160.0428,228,315.1137,711,942.17113,152,363.5110,636,094.0765,878,872.7683,638,904.3936,168,310.8910,276,236.9365,722,475.83536,521.1793,164,836.83457,758,340.93$ 2,561,936,624.28$$14,358,894.0029,034,524.00106,525.00134,258.00510,663.002,794,392.0011,141.005,000,000.001,973,015.0032,314,666.0086,238,078.00$15,990,406.01257,237.831,314,915.8528,236,241.784,281,260.857,061,103.561,225,003.261,404,591.066,880.3131,246,018.3613,448,139.2014,756,785.49870,119.53$ 120,098,703.09$$39,355,915.003,517,611.0042,873,526.00The notes to the financial statements are an integral part of this statement.941
REVENUESFinance and Administration Committee - V. Annual Report of the Treasurer, 2011 - InformationStatement of Revenues, Expenses, andChanges in Net Assets FOR THE YEAR ENDED JUNE 30, 2011THE UNIVERSITYOF TENNESSEEUNIVERSITY OFCHATTANOOGAFOUNDATION INC.UNIVERSITY OFTENNESSEEFOUNDATION INC.THE UNIVERSITY OFTENNESSEE RESEARCHFOUNDATION INC.3Operating revenues:Student tuition and fees (net of $143,740,592.27 ofscholarship allowances)ContributionsInvestment return designated for operationsFederal appropriationsGovernmental grants and contractsNon-governmental grants and contractsSales and services of educational departmentsAuxiliary enterprises:Residential life (net of scholarship allowances of $1,685,828.40;all revenues are used as security for varying revenue bonds;see Note 8)Food servicesBookstoreParkingAthleticsOther auxiliariesInterest earned on loans to studentsOther operating revenuesTotal operating revenues$ 316,045,145.6113,817,123.16258,601,583.71190,301,441.7151,904,262.1751,554,789.484,880,433.3718,364,890.5510,236,047.4293,455,719.615,621,303.4644,057.2819,435,489.89$1,034,262,287.42$ 147,837.005,767,282.0010,227,569.00$ 16,142,688.00$ 2,240,720.22153,987.04$ 2,394,707.26$ 1,724,081.003,428,673.00$ 5,152,754.00EXPENSESOperating expenses (Note 19):Salaries and wagesFringe benefitsUtilities, supplies, and other servicesScholarships and fellowshipsDepreciation expensePayments to or on behalf of the university (Notes 22 and 23)Total operating expensesOperating income (loss)$ 880,979,955.85314,939,808.31436,277,650.4451,541,662.4498,549,195.451,782,288,272.49$(748,025,985.07)$ 3,598,474.003,206,007.005,767,282.0012,571,763.00$ 3,570,925.00$ 1,029,350.2213,768,772.0914,798,122.31$(12,403,415.05)$ 2,948,881.10324,016.9032,283,649.003,000,448.0038,556,995.00$(33,404,241.00)NONOPERATING REVENUES (EXPENSES)State and local appropriationsGifts (including gifts totaling $19,536,054.09 from component units)Grants and contractsInvestment income (loss)Interest on capital asset - related debtBond issuance costsOther nonoperating revenues (expenses)Net nonoperating revenues (expenses)Income (loss) before other revenues, expenses, gains, orlossesCapital appropriationsCapital grants and giftsAdditions to permanent endowmentsAdditions to annuity and life income trustsOtherTotal other revenuesIncrease (decrease) in net assets$ 540,013,070.8732,487,318.78248,366,586.60129,974,829.36(23, 234,431.20)(1,528,116.13)(2,813,938.63)923,265,319.65175,239,334.5866,222,831.2932,220,023.0015,134,618.421,553,887.636,162,010.51121,293,370.85$ 296,532,705.43$ 10,570,783.00(4,430,265.00)(32,476.00)6,108,042.009,678,967.00221,366.00221,366.00$ 9,900,333.00$ 5,867,099.715,867,099.71(6,536,315.34)13,575,321.0113,575,321.01$ 7,039,005.67$ 33,257,203.0025,992.001,471.0033,284,666.00(119,575.00)2,010,226.00910,039.002,920,265.00$ 2,800,690.00NET ASSETSNet assets at beginning of yearNet assets at end of year2,265,403,918.85$2,561,936,624.2876,337,745.00$86,238,078.00113,059,697.42$120,098,703.0940,072,836.00$ 42,873,526.00The notes to the financial statements are an integral part of this statement. 1042
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