FY 2005 - University of Missouri System

Management’s Discussion and Analysis (unaudited)F o r t h e y e a r s e n d e d J u n e 3 0 , 2 0 0 5 a n d 2 0 0 4STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET ASSETSThe Statements of Revenues, Expenses and Changes in Net Assets present the University’s results of operations. TheStatements distinguish revenues and expenses between operating and nonoperating categories, and provide a view ofthe University’s operating margin (in thousands of dollars).Fiscal Year2005Fiscal Year2004Fiscal Year2003Operating Revenues:Net Tuition and Fees $ 355,516 $ 311,778 $ 273,419Grants and Contracts 293,885 259,092 259,268Patient Medical Services 566,394 492,229 425,700Other Auxiliary Enterprises 236,217 214,621 192,465Other Operating Revenues 80,797 65,401 65,106Total Operating Revenues 1,532,809 1,343,121 1,215,958Operating Expenses:Salaries, Wages and Staff Benefits 1,214,209 1,133,772 1,059,342Supplies, Services and Other Operating Expenses 596,395 516,766 473,874Other Operating Expenses 133,197 115,529 111,452Total Operating Expenses 1,943,801 1,766,067 1,644,668Operating Loss (410,992) (422,946) (428,710)Nonoperating Revenues (Expenses):State Appropriations 430,127 421,434 423,330Investment and Endowment Income 89,236 104,486 68,880Private Gifts 73,504 36,143 40,423Other Nonoperating Revenues (Expenses) (8,982) (10,627) (6,779)Net Nonoperating Revenues 583,885 551,436 525,854Income before Capital Contributions and Additions toPermanent Endowments 172,893 128,490 97,144State Capital Appropriations and State Bond Funds 4,686 54,239 13,584Capital Gifts and Grants 13,056 21,749 30,239Private Gifts for Endowment Purposes 34,351 18,506 20,254Increase in Net Assets 224,986 222,984 161,221Net Assets, Beginning of Year 2,579,048 2,356,064 2,194,843Net Assets, End of Year $ 2,804,034 $ 2,579,048 $ 2,356,0642 0 0 5 F i n a n c i a l R e p o r t : U n i v e r s i t y o f M i s s o u r ia c o m p o n e n t u n i t o f t h e S t a t e o f M i s s o u r i