FY 2005 - University of Missouri System

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N otes to Combined Financial StatementsF 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 44. FUNDS HELD IN TRUST BY OTHERSAt June 30, 2005 and 2004, Funds Held in Trust by Others (principally endowment funds) aggregated $83,896,000and $67,349,000, respectively, at fair value. Due to time restrictions or a legal event that has not occurred, these fundsare not available to the University and are not included in the accompanying Statements of Net Assets. Income earnedand distributed to the University for the years ended June 30, 2005 and 2004, aggregated $1,920,000 and $1,716,000,respectively.5. ACCOUNTS RECEIVABLEAccounts receivable at June 30, 2005 and 2004, are summarized as follows (in thousands of dollars):2005 2004Grants and Contracts $ 43,500 $ 34,037State Appropriations and State Bond Funds 835 37,821Student Fees and Other Academic Charges 72,891 49,257University Hospitals and Clinics Patient Services, Netof Contractual Allowances 80,364 65,825University Physicians Patient Services, Netof Contractual Allowances 15,357 15,819Subtotal 212,947 202,759Less Provisions for Loss on Accounts Receivable:Grants and Contracts Allowance 3,885 -University Hospitals and Clinics Patient Services Allowances 14,757 12,544University Physicians Patient Services Allowances 4,490 879Student Fees and Other Academic Charges 4,609 4,848Subtotal 27,741 18,271$ 185,206 $ 184,4886. NOTES RECEIVABLENotes receivable consist of resources available for financial loans to students. These resources are provided throughFederal loan programs and University loan programs generally funded by external sources. Notes receivable at June 30,2005 and 2004, are summarized as follows (in thousands of dollars):2005 2004Federal Health Profession Loans $ 12,752 $ 12,983Carl D. Perkins National Loans 29,712 28,228University Loan Programs 15,656 14,273Subtotal 58,120 55,484Less Provision for Loss on Notes Receivable 1,567 1,566$ 56,553 $ 53,9182 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 35
N otes to Combined Financial StatementsF 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 47. CAPITAL ASSETSUniversity of MissouriCapital assets activity for the years ended June 30, 2005 and 2004, is summarized as follows (in thousands of dollars):2005BeginningBalanceAdditions/TransfersRetirements2005EndingBalanceCapital Assets, Nondepreciable:Land $ 53,023 $ 1,242 $ - $ 54,265Artwork and Historical Artifacts 16,379 167 5,412 11,134Construction in Progress 196,678 (67,353) - 129,325Total Capital Assets, Nondepreciable 266,080 (65,944) 5,412 194,724Capital Assets, Depreciable:Buildings and Improvements 1,697,801 183,707 11,450 1,870,058Infrastructure 175,486 12,746 515 187,717Equipment 412,899 69,154 36,599 445,454Library Materials 193,022 8,476 - 201,498Total Capital Assets, Depreciable 2,479,208 274,083 48,564 2,704,727Less Accumulated Depreciation:Buildings and Improvements 615,822 48,461 10,107 654,176Infrastructure 60,853 7,059 515 67,397Equipment 258,551 39,603 32,818 265,336Library Materials 109,738 7,291 - 117,029Total Accumulated Depreciation 1,044,964 102,414 43,440 1,103,938Total Capital Assets, Depreciable, Net 1,434,244 171,669 5,124 1,600,789Total Capital Assets, Net $ 1,700,324 $ 105,725 $ 10,536 $ 1,795,51320042004BeginningBalanceAdditions/TransfersRetirementsEndingBalanceCapital Assets, Nondepreciable:Land $ 53,989 $ 1,118 $ 2,084 $ 53,023Artwork and Historical Artifacts 16,298 81 - 16,379Construction in Progress 146,845 49,833 - 196,678Total Capital Assets, Nondepreciable 217,132 51,032 2,084 266,080Capital Assets, Depreciable:Buildings and Improvements 1,555,321 145,412 2,932 1,697,801Infrastructure 169,354 9,441 3,309 175,486Equipment 417,046 36,394 40,541 412,899Library Materials 182,345 10,677 - 193,022Total Capital Assets, Depreciable 2,324,066 201,924 46,782 2,479,208Less Accumulated Depreciation:Buildings and Improvements 578,367 40,189 2,734 615,822Infrastructure 56,994 6,518 2,659 60,853Equipment 260,715 36,019 38,183 258,551Library Materials 102,690 7,048 - 109,738Total Accumulated Depreciation 998,766 89,774 43,576 1,044,964Total Capital Assets, Depreciable, Net 1,325,300 112,150 3,206 1,434,244Total Capital Assets, Net $ 1,542,432 $ 163,182 $ 5,290 $ 1,700,324362 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 22 and 23: Statements of Revenues, Expenses an
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
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FY 2005 - University of Missouri System

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