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

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Finance and Administration Committee - V. Annual Report of the Treasurer, 2011 - InformationThe University of TennesseeRequired Supplementary Information Schedule of Funding ProgressFor the Year Ended June 30, 20113ActuarialValuation DateJuly 1, 2007July 1, 2009July 1, 2010PlanActuarial Value ofAssets (A)Actuarial AccruedLiability (AAL) (B)Unfunded AAL(UAAL) (B-A)Funded Ratio(A/B)Covered Payroll(C)UAAL as aPercentage ofCovered Payroll((B-A)/(C)State EmployeeGroup Plan $ — $294,669,000.00 $294,669,000.00 0% $ 616,687,517.00 47.8%State EmployeeGroup Plan $ — $269,772,000.00 $ 269,772,000.00 0% $ 620,716,467.00 43.46%State EmployeeGroup Plan $ — $240,150,000.00 $ 240,150,000.00 0% $628,383,463.00 38.22%One additional year will be reported as data becomes available. The amount reported here for covered payroll relates to the fiscal yearin which the valuations were performed.3769
Finance and Administration Committee - V. Annual Report of the Treasurer, 2011 - InformationThe University of Tennessee5-Year Summary3OPERATING REVENUES (,000)FY 2011 FY 2010 FY 2009 FY 2008 FY 2007Net tuition and fees $ 316,045 $ 279,638 $ 255,578 $ 239,567 $ 231,621Net auxiliary 184,113 178,845 165,519 157,543 160,502Grants and contracts 448,903 395,316 397,348 377,475 383,659Other (federal appropriations, sales and services, etc.) 85,201 85,008 83,868 88,881 75,266Total operating revenues $ 1,034,262 $ 938,807 $ 902,313 $ 863,466 $ 851,048OPERATING EXPENSES (,000)Salaries and wages $ 880,980 $ 859,706 $ 861,781 $ 844,192 $ 807,688Fringe benefits 314,940 287,973 299,475 302,783 268,094Utilities, supplies, and other services 436,277 395,969 341,053 339,439 334,174Scholarships and fellowships 51,542 45,389 32,504 28,304 30,400Depreciation expense 98,549 94,157 83,767 72,561 68,469Total operating expenses $ 1,782,288 $ 1,683,194 $ 1,618,580 $ 1,587,279 $ 1,508,825Operating income (loss) $ (748,026) $ (744,387) $ (716,267) $ (723,813) $ (657,777)NONOPERATING REVENUES AND EXPENSES (,000)State and local appropriations $ 540,013 $ 477,120 $ 503,758 $ 539,634 $ 492,810Gifts 32,487 41,844 27,439 21,108 65,725Investment income, gains, (losses) 129,975 97,297 (106,018) 17,528 175,091Other 220,790 202,392 120,770 104,933 98,546Total nonoperating revenues $ 923,265 $ 818,653 $ 545,949 $ 683,203 $ 832,172OTHER REVENUES, EXPENSES, GAINS OR LOSSESCapital appropriations $ 66,223 $ 91,551 $ 105,300 $ 69,592 $ 32,834Capital grants and gifts 32,220 23,266 28,156 41,044 22,875Additions to permanent endowments 16,688 16,758 9,813 17,812 17,827Other 6,162 883 712 8,772 905Total other revenues, expenses, gains or losses $ 121,293 $ 132,458 $ 143,981 $ 137,220 $ 74,441Increase (decrease) in net assets $ 296,532 $ 206,724 $ (26,338) $ 96,610 $ 248,836Cash $ 912,617 $ 792,063 $ 727,599 $ 627,451 $ 564,094NET ASSETSInvested in capital assets, net of related debt $ 1,198,044 $ 1,075,557 $ 970,344 $ 868,014 $ 773,979Restricted expendable 479,175 419,862 402,260 541,286 588,963Restricted nonexpendable 426,959 408,475 392,063 391,668 379,343Unrestricted 457,758 361,510 294,013 284,050 246,123Total net assets $ 2,561,936 $ 2,265,404 $ 2,058,680 $ 2,085,018 $ 1,988,408STUDENT LOANSNotes receivable $ 32,754 $ 34,209 $ 35,127 $ 35,933 $ 34,133Loans issued (by year) 2,038 1,822 1,748 1,729 2,560ENDOWMENTS (,000)Market value $ 598,995 $ 519,756 $ 470,068 $ 646,927 $ 697,947LIFE INCOME FUNDSMarket value $ 35,377 $ 30,903 $ 32,293 $ 42,451 $ 57,722CAPITAL ASSET AND DEBT ADMINISTRATION(,000)Capital assets, net of depreciation $ 1,728,408 $ 1,609,656 $ 1,494,048 $ 1,335,610 $ 1,128,100Total debt $ 540,222 $ 545,156 $ 518,244 $ 461,965 $ 351,6263870
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