NOTE 6: Affiliated Companies

The financial statements do not include the assets, liabilities, or fund balances of the University of Virginia Health Services Foundation, the University of Virginia Real Estate Foundation, nor any other 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 $17.5 million and $20.2 million during 1999 and 1998, respectively. The condensed summary on page 46 is based solely upon the reports of other auditors and the management of the foundations.

AFFILIATED FOUNDATIONS CONDENSED BALANCE SHEET (in thousands)

		Real Estate Foundation
	Health Services Foundation	(Parent Only)
	As of June 30	As of June 30
Assets	Audited 1998	Unaudited 1999	Audited 1998
Current Assets Due From the University	$ 316	$ --	$ --
Other Current Assets	43,166	8,725	9,909
Other Assets	76,124	86,095	71,694
Total	$ 119,606	$ 94,820	$ 81,603
Liabilities and Fund Balance
Current Liabilities Due To the University	$ 3,620	$ --	$ --
Other Current Liabilities	31,981	7,721	3,900
Long-term Debt Due To the University	--	36,351	45,592
Other Long-term Debts	40,751	42,243	22,782
Fund Balance	43,254	8,505	9,329
Total	$ 119,606	$ 94,820	$ 81,603

AFFILIATED FOUNDATIONS CONDENSED STATEMENT OF REVENUES AND EXPENDITURES (in thousands)

		Real Estate Foundation
	Health Services Foundation	(Parent Only)
	For the Year Ended June 30	For the Years Ended June 30
Revenues	Audited 1998	Unaudited 1999	Audited 1998
Professional and Technical Services Provided to the University	$ 18,200	$ --	$ --
Rental Income From the University	--	1,191	1,076
Other	148,187	1,203	1,455
Total	$ 166,387	$ 2,394	$ 2,531
Expenditures
Office Space and Administrative Services Provided by the University	$ 612	$ --	$ --
Clinical Operations Provided by the University	4,840	--	--
Gifts to the University	6,507	226	87
Other	158,569	3,154	2,126
Total	$ 170,528	$ 3,380	$ 2,213