Note 5: Affiliated Foundations

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The financial statements do not include the assets, liabilities, or fund balances of the University of Virginia Health Services Foundation, the University of Virginia Auxiliary Services Foundation, or the University of Virginia Real Estate Foundation. These foundations are separately incorporated entities and the related financial statements are examined by other auditors. The following condensed summary is based solely upon the reports of other auditors:

Affiliated Foundations Condensed Balance Sheet (in thousands)
 Health Services Foundation As of June 30,Auxiliary Services Foundation As of December 31, Real Estate Foundation As of June 30,
  1994 1993 1993 1992 1994 1993
Assets
Current assets due from the University
$  2,943$  938 $ -- $   6 $  -- $  --
Other current assets 30,66637,150205128 2,552 2,539
Other assets79,502 75,732 331 383 62,068 54,899
Total $ 113,111 $ 113,820 $   536 $   517 $   64,620 $   57,438
Liabilities and Fund Balance
Current liabilities due to the University
$ 7,549 $ 8,293 $ -- $ -- $ -- $ --
Other current liabilities 17,231 17,694 59 86 3,836 3,460
Long-term debt due tothe University -- -- 500 500 36,328 35,166
Other long-term debts 29,911 29,951 -- -- 15,977 10,963
Fund balance 58,420 57,882 (23) (69)8,479 7,849
Total $ 113,111 $ 113,820 $   536 $   517 $   64,620 $   57,438

Affiliated Foundations Condensed Statement of Revenues and Expenditures (in thousands)
 Health Services Foundation For the Years Ended June 30,Auxiliary Services Foundation For the Years Ended December 31, Real Estate Foundation For the Years Ended June 30,
  1994 1993 1993 1992 1994 1993
Revenues
Professional and technical services provided to the University
$   16,737 $   114,982 $   -- $   -- $   -- $   --
Rental income from the University -- -- -- -- 279 235
Other 109,520 109,637 1,001 1,009 13,19412,621
Total $126,257 $124,619 $   1,001 $   1,009 $   13,473 $   12,856
Expenditures
Office space and administrative services provided by the University
$  546 $  450 $  -- $  -- $  -- $  --
Clinical operations provided by the University 4,834 4,556 -- -- -- --
Gifts to the University 6,629 5,634 -- -- 19 260
Other 113,711 110,885 955 1,016 13,284 12,785
Total $ 125,720 $ 121,525 $   955 $   1,016 $  13,303 $  13,045

The University received gifts from the above and other foundations amounting to approximately $12 million and $9.5 million
during 1994 and 1993, respectively.

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