Note 3: Balance Sheet Details
a. Accounts receivable
Accounts receivable as of June 30 include the following (in thousands):
| 1994 | 1993 |
| Patient Care | $ 41,831 | $ 40,974 |
| Estimated Amounts Due from Third-Party Payors
| 14,562 | 3,905 |
| Grants and Contracts | 12,009 | 9,509 |
| Health Services Foundation | 5,098 | 6,151 |
| Other | 3,246 | 2,570 |
| Less Allowance for Doubtful Accounts | (4,910) | (4,885) |
| Total | $ 71,836 | $ 58,224 |
b. Notes receivable
Notes receivable as of June 30, 1994 and 1993 are reported net of the allowance
for uncollectible student loans which amounted to $1.8 million and $1.9
million, respectively.
c. Advances to foundations
The University advances funds to affiliated foundations to enable the
foundations to acquire real property in areas near the University and to
enhance foundation operations. Foundations are expected to make principal
repayments as funds become available. The Board of Visitors has
authorized up to $39 million for advances to the Uni- versity of
Virginia Real Estate Foundation from unrestricted quasi-endowment funds.
Advances as of June 30 include the following (in thousands):
| 1994 | 1993 |
Unrestricted Current Funds
University of Virginia Auxiliary Services Foundation | $ 500 | $ 500 |
Unrestricted Quasi-Endowment Funds
University of Virginia Real Estate Foundation | $ 36,328 | $35,166 |
d. Investment in plant
Investment in plant as of June 30 consists of the following (in
thousands):
| 1994 | 1993 |
| Land | $ 12,831 | $1,012,496 |
| Improvements Other than Buildings | 54,725 | 54,042 |
| Buildings | 620,140 | 607,898 |
| Equipment | 339,627 | 334,208 |
| Library Books | 50,436 | 47,340 |
| Construction in Process | 89,614 | 29,978 |
| Unamortized Bond Issue/Discount Cost |
2,288 | 4,612 |
| Total | $1,169,661 | $1,090,574 |
e. Restatement of fund balances
The fund balances for Expendable Plant and Agency funds as of June 30, 1993,
have been adjusted to reflect the reclassification of accounts totaling
$346,000 relating to the Southwest Virginia Higher Education Center. In
addition, the fund balances for Current Unrestricted funds as of June 30, 1993, have been reduced by $666,000 as a result of errors identified during the conversion of Clinch Valley College to the University's accounting system.
Finally, the fund balances for Current Unrestricted and Agency funds as of June 30,1993, have been adjusted to reflect the reclassification of accounts
totaling $94,000, also relating to the conversion of Clinch Valley College
to the University's accounting system.
f. Interfund obligations
Interfund obligations are recorded on each fund as due to/due from other
funds. Such borrowings are authorized in advance by the Board of Visitors
or administrative action. The borrowings have identifiable repayment schedules in most instances and provide needed working capital or cash advances for special projects. Interest is charged in appropriate instances.
Amounts due from and payable to other funds as of June 30 are
as follows:
|
Due From Other Funds, 1994 (in thousands) |
| Due to Other Funds | Current Funds | Plant Funds | Agency Funds | Total |
| Current Funds | $ -- | $ 501 | $ 570 | $1,071 |
| Loan Funds | -- | -- | -- | 0 |
| Endowment and Similar Funds | -- | -- | 27,056 | 27,056 |
| Plant Funds | 971 | -- | -- | 971 |
| Total | $ 971 | $ 501 | $27,626 | $29,098 |
| Due From Other Funds, 1993 (in thousands) |
| Due to Other Funds | Current Funds | Plant Funds | Agency Funds | Total |
| Current Funds | $ -- | $ 520 | $ 428 | $ 948 |
| Loan Funds | 203 | -- | -- | 203 |
| Endowment and Similar Funds | -- | -- | 25,303 | 25,303 |
| Plant Funds | 4,110 | -- | -- | 4,110 |
| Total | $ 4,313 | $ 520 | $ 25,731 | $ 30,564 |
Office of University Publications Home Page
University of Virginia Home Page