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Note 6

Notes 7 - 14


NOTE 6


NOTE 6: Affiliated Foundations

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, 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 $20.4 million and $21.8 million during 2001 and 2000, respectively. The condensed summary (below) is based solely upon the reports of other auditors.


AFFILIATED FOUNDATIONS CONDENSED BALANCE SHEET (in thousands)


Health Services Foundation
As of June 30
University of Virginia Foundation
As of June 30
2000
1999
2000
1999
ASSETS
         
Current Assets Due from the University
$--
$200
$--
$--
Other Current Assets
43,162
43,509
4,587
11,389
Other Assets
68,623
80,751
129,922
116,267
TOTAL
$111,785
$124,460
$134,509
$127,656
         
LIABILITIES AND FUND BALANCE
         
Current Liabilities Due to the University
$--
$7,339
$--
$--
Other Current Liabilities
32,286
35,904
15,518
15,883
Long-term Debt Due to the University
--
--
36,578
36,351
Other Long-term Debts
43,856
45,354
59,418
54,925
Obligations to the University Under Trust Agreements
--
--
11,209
9,410
Net Assets
35,643
35,863
11,786
11,087
TOTAL
$111,785
$124,460
$134,509
$127,656

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
$19,600
$19,200
$--
$--
Rental Income from the University
--
--
5,870
3,637
Other
149,815
149,682
18,873
17,581
TOTAL
$169,415
$168,882
$24,743
$21,218
EXPENDITURES
Office Space and Administrative Services Provided by the University
$661
$655
$--
$--
Clinical Operations Provided by the University
4,800
4,840
--
--
Gifts to the University
6,757
6,758
--
226
Other
157,417
164,020
25,291
21,647
       
TOTAL
$169,635
$176,273
$25,291
$21,873

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