Balance Sheet Details


a. Accounts receivable

Current Fund accounts receivable as of June 30 include the following (in thousands):

1995 1994
Patient Care $ 50,764 $ 41,831
Estimated Amounts Due from Third-Party Payors 8,174 14,562
Grants and Contracts 12,600 12,009
Health Services Foundation 4,339 5,098
Other 4,447 3,246
Less Allowance for Doubtful Accounts (4,830) (4,910)
Total $ 75,494 $ 71,836

b. Notes receivable

Notes receivable as of June 30, 1995 and 1994 are reported net of the allowance for uncollectible student loans which amounted to $1.9 million and $1.8 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 University 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
$ 37,235 $ 36,328

d. Investment in plant

Investment in plant as of June 30 consists of the following (in thousands):

1995 1994
Land $ 13,358 $ 12,831
Improvements Other than Buildings 58,531 54,725
Buildings 686,750 620,140
Equipment 363,151 339,627
Library Books 53,287 50,436
Construction in Process 97,304 89,614
Unamortized Bond Issue/Discount Cost 2,098 2,288
Total $1,274,479 $1,169,661

e. Restatement of prior year balances

Certain June 30, 1994 balances have been restated to reflect their true classification. Current Funds have been adjusted by $189,000 to reflect a reclassification of endowment income accounts from Current Restricted to Current Unrestricted. Current Funds have also been adjusted by $1,805,000 to reflect a reclassification of patent income from Current Restricted to Current Unrestricted. Finally, Endowment balances have been decreased by $45,000 to reflect a reclassification of Deferred Compensation accounts to agency funds.

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, 1995 (in thousands)
Due to Other Funds Current Funds Endowment Funds Plant Funds Agency Funds Total
Current Funds $ -- $ 313 $ 498 $ 559 $ 1,370
Endowment and Similar Funds -- -- -- 32,834 32,834
Plant Funds 1,577 -- -- -- 1,577
Total $ 1,577 $ 313 $ 498 $ 33,393 $ 35,781

Due From Other Funds, 1994 (in thousands)
Due to Other Funds Current Funds Endowment Funds Plant Funds Agency Funds Total
Current Funds $ -- $ -- $ 501 $ 571 $ 1,072
Endowment and Similar Funds -- -- -- 27,101 27,101
Plant Funds 971 -- -- -- 971
Total$ 971 $ -- $ 501 $ 27,672 $ 29,144




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