UNIVERSITY OF CINCINNATI JUNE 30, 2 008
STATEMENT OF CASH FLOWS
The Statement of Cash Flows provides additional information about the University’s financial results by reporting the
major sources and uses of cash. A comparative summary of the statement of cash flows for the years ended June 30
follows:
The disparity between cash used in operating activities and cash provided by non-capital financing activities is a
result of the required financial reporting classification of state appropriations and gifts. Although state appropriations
and gifts are used primarily for operating expenses of the University, GASB Statement 35 requires that they be
reported as non-operating revenues. Had these resources been reported as operating revenue, the net cash used in
operating activities would have been an increase of $86 million in 2008 and a deficit of $5 million in 2007.
THE UNIVERSITY’S ECONOMIC OUTLOOK
The University of Cincinnati has a strong tradition of effective planning, resource allocation and assessment that has
allowed it to fulfill its mission, improve the quality of its education and respond to future challenges and opportunities.
To ensure the University is able to support this level of excellence, the University is committed to obtaining new
financial resources, to maintaining revenue diversification and to successfully containing costs.
The University continues to achieve its academic goals of increased enrollment, improved scholastic achievement for
the incoming freshmen class, student retention, and improved graduation rates. The University is projecting a total
enrollment of more than 37,000 students for autumn quarter of the 2009 academic year. This is the largest number of
students in 18 years and an increase of more than 500 students over FY 2008’s total enrollment of 36,518. Early
admission figures indicate that freshmen entering UC’s baccalaureate colleges on the Uptown Campus hold an
average ACT test score of 24.8, significantly higher than last year’s average of 24.1 and also higher than the national
average ACT test score of 21.1. SAT test scores are up to 1125 this fall, compared with an average of 1109 last fall.
Among the class are:
- 14 Cincinnatus $80,000 full-ride scholarship recipients
- 897 Cincinnatus total scholarship recipients
- 44 National Merit Scholars, a record for incoming freshmen
- 29 recipients of UC’s Darwin T. Turner scholarship program
- 30 Demakes Legacy Scholars
- 67 valedictorians
- 19 salutatorians
UC’s graduation and retention rates have been steadily improving over the last five years. For fall 2008, the retention
rate is projected to rise 2% over last year, reaching 84%. The graduation rate is projected to reach 55%, up 3%
compared to last year. For both, that is an increase of 7% over five years ago.
(in thousands) 2008 2007 2006Cash received from operations $ 602,217 $ 590,333 $ 546,996
Cash expended for operations 83 2,663 838,089 847,806
Net cash used in operating activities (230,446) (247,756) (300,810)
Net cash provided by non-capital financing activities 3 12,945 258,226 247,700
Net cash used for capital and related
financing activities (90,565) (68,223) (79,431)
Net cash from investing activities (6,724) 89,113 118,435
Net increase (decrease) in cash and cash equivalents $(14,790) $ 31,360 $ (14,106)