University of Rochester

Financial Statement Highlights

Statement of Activities


“The Bottom Line”

Change in Net Assets from Current Year Activities
(Summarizes Statement of Activities)

($ in Thousands) University Affiliated Entities
2005 2004 2005 2004
Operating Change in Net Assets $70,649 $29,442 $8,164 $2,900
Non-Operating Change in Net Assets 86,065 103,128 (8) 6,431
Change in Net Assets $156,714 $132,570 $8,156 $9,331

bar chart: Change in Net Assets from Operations

Consolidated Statement of Activities
for Years Ended June 30, 2005 and 2004

($ in thousands) 2005 2004
 
Operating revenues:  
Tuition and fees $203,738 $198,901
Less scholarships and fellowships (83,563) (81,422)
     Net tuition and fees 120,175 117,479
State and local appropriations 1,800 1,942
Gifts and pledges 51,027 49,721
Grants and contracts 365,017 310,460
Hospital and faculty practice patient care activities 1,233,486 1,149,961
Auxiliary enterprises 40,257 38,090
Investment income on cash equivalents 4,181 2,995
Educational activities 24,887 26,880
Royalty income 37,643 31,846
Other sources 4,740 3,790
Long-term investment income and gains allocated to operations 74,312 73,798
     Total operating revenues: 1,957,507 1,806,962
 
Operating expenses:  
Salaries and wages 916,861 867,555
Fringe benefits 238,023 221,046
     Total compensation 1,154,884 1,088,601
Supplies 248,220 230,384
Business and professional 152,579 167,850
Utilities 22,126 20,125
Maintenance and facilities costs 74,117 69,573
Depreciation expense 119,976 109,437
Interest expense 22,609 23,811
Other 84,183 64,839
     Total operating expenses 1,878,694 1,774,620
Change in net assets from operating activities 78,813 32,342
 
Non-operating activities:  
Long-term investment activities:  
  Investment income 29,101 21,980
  Net appreciation/depreciation 132,537 160,042
     Total long-term investment activities 161,638 180,022
Long-term investment income and gains allocated to operations (74,312) (73,798)
Loss on extinguishment of debt (1,264) (4,746)
Other changes, net (1,601) 7,418
Change in valuation of annuities 1,596 (1,337)
     Change in net assets from non-operating activies 86,057 109,559
 
     Change in net assets 164,870 141,901
 
Beginning net assets 2,031,017 1,889,116
Ending net assets $2,195,887 $2,031,017

Statement of Activities 2004-05

pie chart: Operating Revenues pie chart: Operating Expenses