Budget and Finance

UNIVERSITY OF CINCINNATI JUNE 30, 2008

Balance

July 1, 2006

Additions

Retirements/

Transfers

Balance

June 30, 2007

Land $ 21,923 $ - $ - $ 21,923

Land improvement 78,014 - 3,615 81,629

Buildings 1,531,770 - 64,852 1,596,622

Construction in progress 141,295 131, 735 (96,365) 176,665

Infrastructure 89,668 - 6,685 96,353

Building equipment 15,193 - - 15,193

Moveable equipment 145,846 9,895 (2,742) 152,999

Computer Software 28,747 200 5,993 34,940

Books 131,684 8,671 386 140,741

Art objects 4,356 18 (10) 4,364

Total Assets 2,188,496 150, 519 (17,586) 2,321,429

Less accumulated depreciation 768,017 87,360 (4,691) 850,686

Net Assets $1,420,479 $ 63,159 $ (12,895) $1,470,743

5. Accounts Payable and Accrued Liabilities

Accounts payable and the current portion of accrued liabilities as of June 30, 2008 and 2007 are as follows
(in thousands):

(^20082007)
Compensated absences (Current portion) $ 33,528 $ 33,941
Compensation 31,694 32,237
Accrued liabilities 53,867 59,018
Vendors payable 34,672 32,818
Total $153,761 $158,014

6. Compensated Absences

University employees earn vacation and sick leave on a monthly basis. Vacation benefits may be accrued
up to a maximum of three years’ credit, and earned but unused days are payable upon termination. Sick
leave may be accrued without limit; however, earned but unused days are payable only upon retirement
from the University, subject to 30- or 60-day limits depending upon the date of hire. The liability for the
costs of such benefits approximated $62,864,000 and $64,108,000 as of June 30, 2008 and 2007,
respectively.