FY 2005 - University of Missouri System

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Statements of Revenues, Expenses and Changes in Net AssetsF 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 4(in thousands of dollars)Discretely PresentedUniversityComponent Units2005 2004 2005 2004Operating Revenues:Tuition and Fees (Net of Provision for DoubtfulAccounts of $4,609 in 2005 and $4,858 in 2004) $ 471,240 $ 428,162 $ - $ -Less: Scholarship Allowances 115,724 116,384Net Tuition and Fees 355,516 311,778 - -Federal Grants and Contracts 193,473 170,542State and Local Grants and Contracts 43,638 35,434Private Grants and Contracts 56,774 53,116Sales and Services of Educational Activities 17,920 16,640Auxiliary Enterprises -Patient Medical Services, Net 566,394 492,229 160,947 153,762Housing and Dining Services (Net of ScholarshipAllowance of $490 in 2005 and $389 in 2004) 57,730 53,462Bookstores 50,422 44,373Other Auxiliary Enterprises (Net of ScholarshipAllowance of $5,472 in 2005 and $4,394 in 2004) 128,065 116,786Notes Receivable Interest Income, Net of Fees 855 1,580Other Operating Revenues 62,022 47,181Total Operating Revenues 1,532,809 1,343,121 160,947 153,762Operating Expenses:Salaries and Wages 987,240 919,594 46,952 44,246Staff Benefits 226,969 214,178 12,018 10,692Supplies, Services and Other Operating Expenses 596,395 516,766 87,365 87,362Scholarships and Fellowships 30,783 25,755Depreciation 102,414 89,774 7,758 7,296Total Operating Expenses 1,943,801 1,766,067 154,093 149,596Operating Income (Loss) (410,992) (422,946) 6,854 4,166State Appropriations 430,127 421,434Income after State Appropriations, beforeNonoperating Revenues (Expenses) 19,135 (1,512) 6,854 4,166Nonoperating Revenues (Expenses):Federal Appropriations 15,776 14,602Investment and Endowment Income, Net of Fees 89,236 104,486 1,024 300Private Gifts 73,504 36,143 42 203Interest Expense (23,497) (23,785) (1,340) (1,236)Other Nonoperating Revenues (Expenses) (1,261) (1,444) 1,640Net Nonoperating Revenues (Expenses) 153,758 130,002 1,366 (733)Income before Capital Contributions and Additions toPermanent Endowments 172,893 128,490 8,220 3,433State Capital Appropriations and State Bond Funds 4,686 54,239Capital Gifts and Grants 13,056 21,749Private Gifts for Endowment Purposes 34,351 18,506Increase in Net Assets 224,986 222,984 8,220 3,433Net Assets, Beginning of Year 2,579,048 2,356,064 78,187 74,754Net Assets, End of Year $ 2,804,034 $ 2,579,048 $ 86,407 $ 78,187See notes to the financial statements.2 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 19
S Ftatements of Cash FlowsO 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 4(in thousands of dollars)2005 2004Cash Flows from Operating Activities:Tuition and Fees $ 336,011 $ 321,506Federal, State and Private Grants and Contracts 288,307 271,356Sales and Services of Educational Activities andOther Auxiliaries 174,492 130,647Patient Care Revenues 558,141 479,750Student Housing Fees 57,732 53,867Bookstore Collections 50,058 44,126Payments to Suppliers (584,618) (515,431)Payments to Employees (981,507) (922,159)Payments for Benefits (226,969) (214,178)Payments for Scholarships and Fellowships (30,783) (25,755)Student Loans Issued (16,718) (14,487)Student Loans Collected 13,778 13,813Student Loan Interest and Fees 1,160 1,153Other Receipts, Net 62,022 41,580Net Cash Used in Operating Activities (298,894) (334,212)Cash Flows from Noncapital Financing Activities:State Appropriations 430,141 421,460Federal Appropriations 15,776 14,602Private Gifts 58,016 7,243Endowment and Similar Funds Gifts 34,351 18,506Other Payments (1,261) (1,444)Deposits of Affiliates 1,482 26,186Net Cash Provided by Noncapital Financing Activities 538,505 486,553Cash Flows from Capital and Related Financing Activities:Capital State Appropriations 7,377 18,641Capital Gifts and Grants 13,056 45,067Proceeds from Sales of Capital Assets 9,525 3,138Purchase of Capital Assets (211,567) (250,880)Proceeds from Issuance of Capital Debt, Net 159,267Principal Payments on Capital Debt (11,620) (10,773)Proceeds from Capital Project Notes 1,600 3,360Payments on Capital Lease (361) (332)Escrow Deposit on Defeasance (37,346)Payments on Cost of Debt Issuance (821)Interest Payments on Capital Debt (23,113) (22,212)Net Cash Used in Capital and Related Financing Activities (215,103) (92,891)Cash Flows from Investing Activities:Interest and Dividends on Investments 51,598 56,424Purchase of Investments, Net of Sales and Maturities 48,190 (176,643)Other Investing Actitities (160) 2,777Net Cash Provided by (Used in) Investing Activities 99,628 (117,442)Net Increase (Decrease) in Cash and Cash Equivalents 124,136 (57,992)Cash and Cash Equivalents, Beginning of Year 216,863 274,855Cash and Cash Equivalents, End of Year $ 340,999 $ 216,863(continued)202 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
Page 2 and 3: Table of ContentsGOVERNING BOARD AN
Page 4 and 5: G overning Board and Administrative
Page 7 and 8: Management’s Discussion and Analy
Page 17 and 18: I ndependent Auditors’ Report142
Page 20 and 21: S tatements of Net AssetsA S O F J
Page 24 and 25: S Ftatements of Cash FlowsO R T H E
Page 26: N otes to Combined Financial Statem
Page 29: N otes to Combined Financial Statem
Page 32 and 33: N otes to Combined Financial Statem

FY 2005 - University of Missouri System

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