NOTE
3
|
NOTE
3: Balance Sheet Details
a.
Accounts receivable
Current
Fund accounts receivable as of June 30 include the following (in
thousands):
|
|
2000
|
1999
|
|
Patient
Care
|
$
110,393
|
$
102,298
|
|
Estimated
Amounts Due from Third-Party Payors
|
11,781
|
18,391
|
|
Grants
and Contracts
|
20,815
|
19,841
|
|
Health
Services Foundation
|
5,046
|
7,965
|
|
Other
|
10,368
|
7,206
|
|
Less
Allowance for Doubtful Accounts
|
(58,029)
|
(61,544)
|
| |
|
|
|
TOTAL
|
$
100,374
|
$
94,157
|
b.
Notes receivable
Notes
receivable as of June 30, 2000 and 1999, are reported net of the
allowance for uncollectible student loans which amounted to $2.2
million and $2.4 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):
|
2000
|
1999
|
Unrestricted
Quasi-Endowment Funds |
|
|
University
of Virginia
Real Estate Foundation |
$36,578
|
$36,351
|
d.
Investment in plant
Investment
in plant as of June 30 consists of the following (in thousands):
|
|
2000
|
1999
|
|
Land
|
$
30,073
|
$
17,376
|
|
Improvements
Other than Buildings
|
77,109
|
76,007
|
|
Buildings
|
913,374
|
898,453
|
|
Equipment
|
473,047
|
459,134
|
| Software
Capitalization |
7,884
|
--
|
|
Library
Books
|
76,641
|
66,946
|
|
Construction
in Process
|
166,453
|
92,229
|
|
Unamortized
Bond Issue/Discount Cost
|
(1,419)
|
(1,529)
|
|
TOTAL
|
$
1,743,162
|
$
1,608,616
|
e.
Restatement of prior year balances
Certain
June 30, 1999 balances have been restated. Current Unrestricted,
Current Restricted, and Loan Funds have been reduced by $78,680,
$30, and $35,630, respectively.
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 listed on chart below.
g.
Goodwill
On
October 1, 1997 the Medical Center acquired from the University
of Virginia Health Services Foundation the Medicine Clinical Laboratories
in a transaction accounted for as a purchase. Accordingly, $1,800,000
was recorded as goodwill and is being amortized over five years.
On
May 12, 2000 the Medical Center acquired from Augusta Health Care,
Inc. the Kidney Dialysis Assets in a transaction accounted for
as a purchase. Accordingly, $987,188 was recorded as goodwill
for the purchase of the assets and is being amortized over five
years. An additional $800,000 was recorded as goodwill for a Non-Competition
Agreement and is being amortized over its ten year life.
DUE FROM OTHER FUNDS (see section f above) -- 2000 (in thousands)
|
Due
to
Other
Funds
|
Current
Funds
|
Endowment
Funds
|
Plant
Funds
|
Agency
Funds
|
Total
|
|
Current
Funds
|
$
--
|
$
3,713
|
$
525
|
$
475
|
$
4,713
|
|
Endowment
and Similar Funds
|
--
|
--
|
--
|
45,379
|
45,379
|
|
Plant
Funds
|
8,886
|
--
|
--
|
--
|
8,694
|
| Agency
Funds |
10,856
|
--
|
--
|
--
|
10,856
|
|
TOTAL
|
$
19,742
|
$
3,713
|
$
525
|
$
45,854
|
$
69,834
|
DUE
FROM OTHER FUNDS (see section f above) -- 1999 (in thousands)
|
Due
to
Other
Funds
|
Current
Funds
|
Endowment
Funds
|
Plant
Funds
|
Agency
Funds
|
Total
|
|
Current
Funds
|
$
--
|
$
3,133
|
$
398
|
$
37
|
$
3,568
|
|
Endowment
and Similar Funds
|
--
|
--
|
--
|
33,730
|
33,730
|
|
Plant
Funds
|
8,694
|
--
|
--
|
--
|
8,694
|
|
TOTAL
|
$
8,694
|
$
3,133
|
$
398
|
$
33,767
|
$
45,992
|
|
|
