University of Rochester

Financial Statement Highlights

Balance Sheet


bar chart: Total Net Assets

Consolidated Balance Sheets as of June 30, 2003 and 2002

($ in thousands) 2003 2002
     
Assets    
     
Cash and cash equivalents $148,637 $138,640
Operating investments, at market 17,028
Accounts receivable, net 206,291 197,334
Inventories, prepaid expenses, and deferred charges 58,634 50,235
Contributions receivable, net 37,610 40,329
Notes receivable, net of allowances of $1,040 in 2003 and 2003 21,034 21,280
Other assets 2,814 4,156
Investments held for longterm purposes 1,263,757 1,268,995
Property, plant, and equipment, net 896,154 928,964
Interest in net assets of foundation 15,572 18,046
Investments in perpetual trusts held by others 43,158 43,361
     
Total Assets $2,710,689 $2,711,240
     
     
Liabilities and Net Assets    
     
Liabilities:    
   Accounts payable and accrued expenses $149,584 $134,197
   Advanced receipt of sponsored research revenues 26,835 27,133
   Deferred revenue 36,121 33,676
   Third-party settlements payable, net 49,374 55,344
   Accrued pension, postretirement, postemployment obligations 98,786 74,858
   Longterm debt 444,097 468,978
   Refundable U.S. grants for student loans 16,776 16,593
     
Total Liabilities 821,573 810,779
     
Net assets:    
   Unrestricted 1,485,275 1,504,843
   Temporarily restricted 185,099 183,507
   Permanently restricted 218,742 212,111
     
Total Net Assets 1,889,116 1,900,461
     
Total Liabilities and Net Assets $2,710,689 $2,711,240