University of Rochester

Financial Statement Highlights

The Balance Sheet


bar chart: Total Net Assets

Consolidated Balance Sheets as of June 30, 2004 and 2003

($ in thousands) 2004 2003
 
Assets  
 
Cash and cash equivalents $124,086 $93,267
Operating investments, at market 88,746 61,120
Accounts receivable, net 224,489 206,869
Inventories, prepaid expenses, and deferred charges 39,296 60,218
Contributions receivable, net 40,922 37,610
Notes receivable, net of allowances of $1,040 in 2003 and 2003 21,297 21,034
Other assets 2,637 2,814
Investments held for longterm purposes 1,429,040 1,2749575
Property, plant, and equipment, net 934,421 896,154
Interest in net assets of foundation 16,920 15,572
Investments in perpetual trusts held by others 50,622 43,158
 
Total Assets $2,972,476 $2,712,773
 
Liabilities and Net Assets  
 
Liabilities:  
   Accounts payable and accrued expenses $176,748 $149,584
   Advanced receipt of sponsored research revenues 31,141 26,835
   Deferred revenue 40,520 38,205
   Third-party settlements payable, net 59,360 49,374
   Accrued pension, postretirement, postemployment obligations 113,602 98,786
   Longterm debt 504,240 444,097
   Refundable U.S. grants for student loans 15,848 16,776
     
Total Liabilities 941,459 823,657
     
Net assets:    
   Unrestricted 1,587,176 1,485,275
   Temporarily restricted 207,447 185,099
   Permanently restricted 236,394 218,742
 
Total Net Assets 2,031,017 1,889,116
 
Total Liabilities and Net Assets $2,972,476 $2,712,773