Balance Sheet

As of June 30, 1998
With Comparative Figures for 1997
(in thousands)
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Assets

Current Funds
Loan Funds
Endowment and Similar Funds (Note 1)
Plant Funds
Agency Funds
Total 1998
Total 1997*

Cash (Note 2)

$ 101,769

$ 1,334

$ --

$ 34,370

$ 3,240

$ 140,713

$ 147,505

Equipment Trust Fund Cash

--

--

--

185

--

185

12

Accounts Receivable (Note 3a)

96,275

--

--

--

--

96,275

97,082

Appropriations Receivable

--

--

--

4,251

3

4,254

6,294

Interest Receivable

6,073

--

--

--

--

6,073

5,197

Notes Receivable (Note 3b)

3,962

24,332

--

--

--

28,294

23,556

Advances to Foundations (Note 3c)

--

--

45,596

6,500

--

52,096

44,389

Investments (Note 2)

206,458

--

1,349,086

133,965

--

1,689,509

1,464,638

Inventories

12,050

--

--

--

--

12,050

11,114

Prepaid Expenses

3,725

--

--

10

--

3,735

4,522

Investment in Plant (Note 3d)

--

--

--

1,515,305

--

1,515,305

1,452,187

Due from Other Funds (Note 3f)

14,754

--

3,718

450

30,167

49,089

39,070

Total Assets

$ 445,066

$ 25,666

$ 1,398,400

$ 1,695,036

$ 33,410

$ 3,597,578

$ 3,295,566


Liabilities and Fund Balances

Liabilities

Current Funds
Loan Funds
Endowment and Similar Funds (Note 1)
Plant Funds
Agency Funds
Total 1998
Total 1997*

Accounts Payable and Accrued Expenses

$ 78,700

$ 4

$ --

$ 6,607

$ --

$ 85,311

$ 90,033

Collateral Held for Security Lending (Note 2)

60,969

--

258,264

--

--

319,233

265,981

Grant and Contract Prepayments

25,629

--

--

--

--

25,629

18,725

Advance from Treasurer of Virginia

510

--

--

--

--

510

509

Deposits and Deferred Revenues

12,635

--

--

--

--

12,635

9,954

Investments and Deposits Held for Others

--

--

--

--

33,410

33,410

27,476

Accrued Compensated Absences

26,176

--

--

--

--

26,176

24,001

Long-Term Debt (Note 4)

--

--

--

242,497

--

242,497

246,721

Due to Other Funds (Note 3f)

4,527

--

29,808

14,754

--

49,089

39,070

Total Liabilities

209,146

4

288,072

263,858

33,410

794,490

722,470


Fund Balances

Current Funds
Loan Funds
Endowment and Similar Funds (Note 1)
Plant Funds
Agency Funds
Total 1998
Total 1997*

Current Funds -- Unrestricted

133,813

--

--

--

--

133,813

133,683

Current Funds -- Restricted

102,107

--

--

--

--

102,107

95,399

Loan Funds, U. S. Government Grants

--

15,180

--

--

--

15,180

14,916

Loan Funds, University

--

10,482

--

--

--

10,482

10,079

Life Income Funds

--

--

23,734

--

--

23,734

14,438

Quasi-Endowment Funds -- Unrestricted

--

--

344,868

--

--

344,868

303,198

Quasi-Endowment Funds -- Restricted

--

--

258,556

--

--

258,556

231,063

Endowment Funds

--

--

483,164

--

--

483,164

427,337

Term Endowment Funds

--

--

6

--

--

6

6

Expendable Plant Funds -- Unrestricted

--

--

--

26,934

--

26,934

26,507

Expendable Plant Funds -- Restricted

--

--

--

126,235

--

126,235

108,649

Retirement of Debt Funds

--

--

--

416

--

416

1,015

Net Investment in Plant

--

--

--

1,277,593

--

1,277,593

1,206,806

Total Fund Balances

235,920

25,662

1,110,328

1,431,178

--

2,803,088

2,573,096

Total Liabilities and Fund Balances

$ 445,066

$ 25,666

$ 1,398,400

$ 1,695,036

$ 33,410

$ 3,597,578

$ 3,295,566



*Certain 1997 amounts have been restated to conform to 1998 classifications.
The accompanying
Notes to Financial Statements are an integral part of this statement.


Financial Report

Statement of Changes in Fund Balances