a. Accounts receivable
Current Fund accounts receivable as of June 30 include the following
(in thousands):
|
|
|
|
|
Patient Care |
$87,888 |
$71,244 |
|
Estimated Amounts Due from Third-Party Payors |
15,343 |
17,999 |
|
Grants and Contracts |
14,524 |
12,586 |
|
Health Services Foundation |
11,664 |
3,569 |
|
Other |
7,105 |
5,213 |
|
Less Allowance for Doubtful Accounts |
(39,442) |
(28,603) |
|
Total |
$97,082 |
$82,008 |
b. Notes receivable
Notes receivable as of June 30, 1997 and 1996, are reported net of
the allowance for uncollectible student loans which amounted to $2.0
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 $55 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):
|
|
|
|
|
Unrestricted Current Funds | ||
|
University of Virginia |
$ 500 |
$ 500 |
|
Unrestricted Quasi-Endowment Funds | ||
|
University of Virginia |
$ 37,389 |
$ 42,384 |
|
Expendable Plant Funds | ||
|
University of Virginia |
$ 6,500 |
$ 6,500 |
d. Investment in plant
Investment in plant as of June 30 consists of the following (in
thousands):
|
|
|
|
|
Land |
$ 15,098 |
$ 13,358 |
|
Improvements Other than Buildings |
66,970 |
66,120 |
|
Buildings |
802,957 |
787,192 |
|
Equipment |
413,382 |
388,641 |
|
Library Books |
58,412 |
56,537 |
|
Construction in Process |
93,633 |
60,245 |
|
Unamortized Bond Issue/Discount Cost |
1,735 |
1,916 |
|
Total |
$1,452,187 |
$1,374,009 |
e. Restatement of prior year balances
Certain June 30, 1996 balances have been restated to reflect their
true classification. Current Funds have been adjusted by $340,000 to
reflect a reclassification of investment balances from Current
Restricted to Current Unrestricted and $2,000 for other miscellaneous
adjustments to Current Unrestricted 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 * 1997 * (in thousands) |
| ||||
|
|
|
|
|
|
|
|
Current Funds |
$ -- |
$ 3,034 |
$ 460 |
$ 320 |
$ 3,814 |
|
Endowment and Similar Funds |
|
|
|
23,076 |
23,076 |
|
Plant Funds |
12,180 |
|
|
|
12,180 |
|
Total |
$ 12,180 |
$ 3,034 |
$ 460 |
$ 23,396 |
$ 39,070 |
|
Due From Other Funds * 1996 * (in thousands) |
| ||||
|
Due to Other Funds |
|
|
|
|
|
|
Current Funds |
$ -- |
$ 6,209 |
$ 470 |
$ 14 |
$ 6,693 |
|
Endowment and Similar Funds |
221 |
|
|
50,621 |
50,842 |
|
Plant Funds |
13,352 |
|
|
|
13,352 |
|
Total |
$ 13,573 |
$ 6,209 |
$ 470 |
$ 50,635 |
$ 70,887 |