University of Rochester

2008-09 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
2009 2008 2009 2008
Operating Change in Net Assets $    25,647 $    68,943 $   4,147 $   10,963
Non-Operating Change in Net Assets (477,501) (128,084) (40,604) 13,838
Change in Net Assets $   (451,854) ($   59,141) $ (36,457) $  24,801
activities
change in net assets

Consolidated Statement of Activities
for Years Ended June 30, 2009 and 2008


($ in thousands) 2009 2008
 
Operating revenues:  
Tuition and fees $   300,480 $269,926
Less scholarships and fellowships (120,416) (108,378)
     Net tuition and fees       180,064 161,548
State and local appropriations          1,843 1,796
Grants and contracts       385,136 366,278
Gifts and pledges         65,221 98,733
Hospital and faculty practice patient care activities   1,599,123 1,520,558
Auxiliary enterprises         73,730 69,155
Investment income on cash and operating investments        (7,784) 12,192
Educational activities         29,023 24,040
Royalty income         42,975 64,921
Other sources         15,686 14,225
Long-term investment income and gains allocated to operations         93,151 85,195
     Total operating revenues:    2,478,168 2,418,641
 
Operating expenses:  
Salaries and wages    1,209,480 1,143,813
Fringe benefits       320,057 302,858
     Total compensation    1,529,537 1,446,671
Supplies       316,611 296,107
Business and professional       210,532 215,045
Utilities         55,060 55,043
Maintenance and facilities costs         98,313 89,950
Depreciation expense       136,648 127,622
Interest expense         31,114 35,352
Other         70,559 72,945
     Total operating expenses    2,448,374 2,338,735
Change in net assets from operating activities 29,794 79,906
 
Non-operating activities:  
Long-term investment activities:  
  Investment income         16,345 21,664
  Net appreciation/depreciation     (396,492) (42,738)
     Total long-term investment activities     (380,147) (21,074)
Long-term investment income and gains allocated to operations       (93,151) (85,195)
Loss on extinguishment of debt         (6,714) -
Other changes, net       (38,785) (1,709)
Change in valuation of annuities             692 (6,268)
     Change in net assets from non-operating activies      (518,105) (114,246)
     Change in net assets      (488,311) (34,340)
 
Beginning net assets   2,733,889
Ending net assets $2,211,238 $2,733,889

Statement of Activities 2008-09

Operating Revenue pie chart

Operating Expense pie chart