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 FundsPlant FundsAgency FundsTotal
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 FundsPlant FundsAgency FundsTotal
Current Funds $ -- $ 520 $ 428 $ 948
Loan Funds203 -- -- 203
Endowment and Similar Funds-- -- 25,303 25,303
Plant Funds 4,110 -- -- 4,110
Total$ 4,313 $ 520$ 25,731$ 30,564

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