University of Rochester

Financial Statement Highlights

The Balance Sheet

bar chart: Total Net Assets

Consolidated Balance Sheets as of June 30, 2005 and 2004

($ in thousands) 2005 2004
 
Assets  
 
Cash and cash equivalents $175,019 $124,086
Operating investments, at market 110,468 88,746
Accounts receivable, net 222,778 229,561
Inventories, prepaid expenses, and deferred charges 48,411 39,296
Contributions receivable, net 35,074 40,922
Notes receivable, net 20,066 21,297
Other assets 12,855 17,917
Investments held for long-term purposes 1,540,386 1,408,688
Property, plant, and equipment, net 1,009,331 934,421
Interest in net assets of foundation 16,382 16,920
Investments in perpetual trusts held by others 52,451 50,622
 
Total Assets $3,243,221 $2,972,476
 
Liabilities and Net Assets  
 
Liabilities:  
   Accounts payable and accrued expenses $203,550 $173,534
   Advanced receipt of sponsored research revenues 34,644 31,141
   Deferred revenue 45,897 40,520
   Third-party settlements payable, net 76,730 59,360
   Accrued pension, post-retirement, post-employment obligations 135,423 116,816
   Long-term debt 535,430 504,240
   Refundable U.S. grants for student loans 15,660 15,848
     
Total Liabilities 1,047,334 941,459
     
Net assets:    
   Unrestricted 1,726,153 1,587,176
   Temporarily restricted 220,361 207,447
   Permanently restricted 249,373 236,394
 
Total Net Assets 2,195,887 2,031,017
 
Total Liabilities and Net Assets $3,243,221 $2,972,476