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Notes 7 - 14


NOTE 6


NOTE 6: Affiliated Foundations


AFFILIATED FOUNDATIONS CONDENSED BALANCE SHEET (in thousands)


Health Services Foundation
As of June 30
University of Virginia Endowment
As of June 30
2000
1999
2000
1999
ASSETS
         
Current Assets Due from the University
$200
$316
$--
$--
Other Current Assets
43,509
43,166
11,389
3,423
Other Assets
80,751
76,124
116,267
98,070
TOTAL
$124,460
$119,606
$127,656
$101,493
         
LIABILITIES AND FUND BALANCE
         
Current Liabilities Due to the University
$7,339
$3,620
$--
$--
Other Current Liabilities
35,904
31,981
15,883
6,502
Long-term Debt Due to the University
--
--
36,351
45,592
Other Long-term Debts
45,354
40,751
54,925
30,570
Obligations to the University Under Trust Agreements
--
--
9,410
7,206
Net Assets
35,863
43,254
11,087
11,623
TOTAL
$124,460
$119,606
$127,656
$101,493

AFFILIATED FOUNDATIONS STATEMENT OF REVENUES AND EXPENDITURES
(in thousands)

Health Services Foundation
For the Year Ended June 30
University of Virginia Foundation
For the Year Ended June 30
2000
1999
2000
1999
REVENUES
Professional and Technical Services Provided by the University
$19,200
$23,700
$--
$--
Rental Income from the University
--
--
3,637
2,436
Other
149,682
148,187
17,581
16,417
TOTAL
$168,882
$171,887
$21,218
$18,853
EXPENDITURES
Office Space and Administrative Services Provided by the University
$655
$612
$--
$--
Clinical Operations Provided by the University
4,840
4,840
--
--
Gifts to the University
6,758
6,507
226
87
Other
164,020
158,669
21,647
18,071
       
TOTAL
$176,273
$170,628
$21,873
$18,158


The financial statements do not include the assets, liabilities, or fund balances of the University of Virginia Health Services Foundation, the University of Virginia Foundation and Subsidiaries, or 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 $21.8 million and $17.5 million during 2000 and 1999, respectively. The condensed summary above is based solely upon the reports of other auditors.

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