The relative risk associated with the University's financial assets is detailed below.
Cash: All cash of the University is maintained in accounts that are collateralized in accordance with the Virginia Security for Public Deposits Act, Section 2.1-359, et. seq., of the Code of Virginia. Cash balances were $101,648,000 and $81,894,000 on June 30, 1994 and 1993, respectively.
Investments: The investment policy goals, objectives, and guidelines are established by the Finance Committee of the Board. The University's cash equivalents and investments are categorized by levels of credit risk as described below:
The University of Virginia, through its agent, Fiduciary Trust Company International, lends securities to various brokers on a temporary basis for a fee. All security loan agreements are collateralized by cash, U.S. Government obligations, or irrevocable letters of credit issued by major banks having a market value equal to at least 102 percent of the market value of the loaned securities. At June 30, 1994, the market value of the securities on loan was $53,157,000 and the collateral value was $55,499,000. At June 30, 1993, the market value of the securities on loan was $52,637,000 and the collateral value was $54,323,000.
| Categorization of investment risk for assets held as of June 30, 1994 (in thousands): | |||||
| Description | Category 1 | Category 3 | Non-Categorized | Cost | Market Value |
| U.S. Government Securities | $265,245 | $ 405 | $ -- | $265,650 | $262,264 |
| Money Market Instruments | 1,910 | -- | -- | 1,910 | 1,910 |
| Corporate Bonds | 14,081 | 50 | -- | 14,131 | 14,899 |
| Corporate Notes | 27,770 | -- | -- | 27,770 | 26,427 |
| Common and Preferred Stocks | 223,445 | -- | -- | 223,445 | 280,066 |
| Municipal Securities | -- | 275 | -- | 275 | 332 |
| International Bonds and Notes | 17,587 | -- | -- | 17,587 | 16,752 |
| Repurchase Agreements | 7,515 | -- | -- | 7,515 | 7,515 |
| Mutual and Money Market Funds | -- | -- | 109,368 | 109,368 | 125,918 |
| Real Estate and Other Tangible Property | -- | -- | 403 | 403 | 403 |
| Mortgages | -- | -- | 11,553 | 11,553 | 11,553 |
| Other Intangible Property | -- | -- | 93,227 | 93,227 | 99,116 |
| Total | $557,553 | $ 730 | $214,551 | $772,834 | $847,155 |
| Categorization of investment risk for assets held as of June 30, 1993 (in thousands): | |||||
| Description | Category 1 | Category 3 | Non-Categorized | Cost | Market Value |
| U.S. Government Securities | $253,698 | $ 254 | $ -- | $253,952 | $267,891 |
| Money Market Instruments | 14,621 | -- | -- | 14,621 | 14,621 |
| Corporate Bonds | 8,950 | -- | -- | 8,950 | 10,372 |
| Corporate Notes | 34,058 | 50 | -- | 34,108 | 36,943 |
| Common and Preferred Stocks | 221,428 | -- | -- | 221,428 | 328,118 |
| Municipal Securities | -- | 1,477 | -- | 1,477 | 1,602 |
| International Bonds and Notes | 30,733 | -- | -- | 30,733 | 30,879 |
| Repurchase Agreements | -- | 10,728 | -- | 10,728 | 10,728 |
| Mutual and Money Market Funds | -- | -- | 78,751 | 78,751 | 84,323 |
| Real Estate and Other Tangible Property | -- | -- | 399 | 399 | 399 |
| Mortgages | -- | -- | 15,924 | 15,924 | 15,924 |
| Other Intangible Property | -- | -- | 50,139 | 50,139 | 57,832 |
| Total | $563,488 | $12,509 | $145,213 | $721,210 | $859,632 |
Office of University Publications Home Page
University of Virginia Home Page