STATEMENT OF NET POSITION

University of Virginia
STATEMENT OF NET POSITION (in thousands)

AS OF JUNE 30, 2015 (WITH COMPARATIVE INFORMATION AS OF JUNE 30, 2014)
2015 2014
ASSETS    
Current assets    
   Cash and cash equivalents (Note 2) $ 580,128 $612,001
   Short-term investments (Note 2) 181,213 180,336
   Appropriations available 5,257 6,758
   Accounts receivable, net (Note 3a) 318,976 269,427
   Prepaid expenses 30,900 23,062
   Inventories 25,818 22,296
   Notes receivable, net (Note 3b) 7,007 5,985
   Total current assets 1,149,299 1,119,865
     
Noncurrent assets    
   Cash and cash equivalents (Note 2) 10,100 24,032
   Endowment investments (Note 2) 4,374,764 4,216,644
   Other long-term investments (Note 2) 1,580,356 1,316,835
   Notes receivable, net (Note 3b) 34,202 35,664
   Pledges and other receivables, net (Note 3c) 16,333 4,566
   Capital assets — depreciable, net (Note 3d) 3,067,227 2,848,728
   Capital assets — non-depreciable (Note 3d) 206,655 341,244
   Goodwill (Note 3e) 12,678 10,683
   Total noncurrent assets 9,302,315 8,798,396
     
Deferred outflows of resources (Note 3f) 88,173 35,108
     
TOTAL ASSETS AND DEFERRED OUTFLOWS OF RESOURCES $ 10,539,787 $9,953,369
     
LIABILITIES    
Current liabilities    
   Accounts payable and accrued liabilities (Note 3g) $ 323,227 $292,411
   Unearned revenue (Note 3h) 86,057 98,326
   Deposits held in custody for others 6,254 13,807
   Commercial paper (Note 4) 50,645 205,893
   Long-term debt — current portion (Note 5a) 7,563 13,303
   Long-term liabilities — current (Note 5b) 91,326 92,061
   Total current liabilities 565,072 715,801
     
Noncurrent liabilities    
   Long-term debt (Note 5a) 1,365,312 1,178,213
   Derivative instrument liability (Note 6) 29,521 20,448
   Net pension liability (Note 11) 459,949 -
   Other noncurrent liabilities (Note 5b) 163,360 112,367
   Total noncurrent liabilities 2,018,142 1,311,028
     
Deferred inflows of resources (Note 3i) 160,635 -
     
TOTAL LIABILITIES AND DEFERRED INFLOWS OF RESOURCES $ 2,743,849 $2,026,829
     
NET POSITION    
   Net investment in capital assets $ 1,837,901 $1,782,053
   Restricted:    
      Nonexpendable 608,894 588,627
      Expendable 2,997,184 3,062,089
   Unrestricted 2,351,959 2,493,771
TOTAL NET POSITION $ 7,795,938 $7,926,540
     
TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND NET POSITION $ 10,539,787 $9,953,369

Certain 2014 amounts have been restated to conform to the 2015 classifications.
The accompanying Notes to Financial Statements are an integral part of this statement.