The financial statements do not include the assets, liabilities, or fund balances of the University of Virginia Health Services Foundation, the University of Virginia Auxiliary Services Foundation, or the University of Virginia Real Estate Foundation. These foundations are separately incorporated entities and the related financial statements are examined by other auditors. The University received gifts from these and other foundations amounting to approximately $25.9 million and $28.9 million during 1997 and 1996, respectively. The condensed summary below is based solely upon the reports of other auditors and the management of the foundations:
|
Affiliated Foundations Condensed Balance Sheet (in thousands) | ||||||
|
|
|
|
| |||
|
|
Unaudite 1997 |
Audited 1996 |
Audited 1996 |
Audited 1995 |
Unaudited 1997 |
Audited 1996 |
|
Assets |
|
|
|
|
|
|
|
Current Assets Due From the University |
$ 465 |
$ 298 |
$ 16 |
$ 19 |
$ -- |
$ -- |
|
Other Current Assets |
56,518 |
40,851 |
290 |
246 |
1,797 |
3,661 |
|
Other Assets |
80,200 |
84,057 |
281 |
295 |
53,345 |
52,514 |
|
Total |
$ 137,183 |
$ 125,206 |
$ 587 |
$ 560 |
$ 55,142 |
$ 56,175 |
|
Liabilities and Fund Balance | ||||||
|
Current Liabilities Due To the University |
$ 14,544 |
$ 3,526 |
$ -- |
$ -- |
$ -- |
$ -- |
|
Other Current Liabilities |
26,515 |
22,918 |
52 |
54 |
6,025 |
2,468 |
|
Long-term Debt Due to the University |
-- |
-- |
500 |
500 |
37,389 |
42,384 |
|
Other Long-term Debts |
41,724 |
37,509 |
-- |
-- |
5,016 |
4,123 |
|
Fund Balance |
54,400 |
61,253 |
35 |
6 |
6,712 |
7,200 |
|
Total |
$ 137,183 |
$ 125,206 |
$ 587 |
$ 560 |
$ 55,142 |
$ 56,175 |
|
Affiliated Foundations Condensed Statement of Revenues and Expenditures (in thousands) | ||||||
|
|
|
|
| |||
|
|
|
|
|
|
|
|
|
Revenues | ||||||
|
Professional and Technical Services Provided to the University |
$ 18,831 |
$ 20,345 |
$ -- |
$ -- |
$ -- |
$ -- |
|
Rental Income From the University |
-- |
-- |
-- |
-- |
817 |
187 |
|
Other |
151,059 |
126,607 |
1,089 |
1,009 |
835 |
597 |
|
Total |
$ 169,890 |
$ 146,952 |
$ 1,089 |
$ 1,009 |
$ 1,652 |
$ 784 |
|
Expenditures | ||||||
|
Office Space and Administrative Services Provided by the University |
$ 584 |
$ 584 |
$ -- |
$ -- |
$ -- |
$ -- |
|
Clinical Operations Provided by the University |
4,840 |
4,840 |
-- |
-- |
-- |
-- |
|
Gifts to the University |
-- |
6,859 |
-- |
-- |
-- |
-- |
|
Other |
161,319 |
135,373 |
1,060 |
1,034 |
1,072 |
799 |
|
Total |
$ 166,743 |
$ 147,656 |
$ 1,060 |
$ 1,034 |
$ 1,072 |
$ 799 |