University of Cincinnati
Statement of Net Assets
As of June 30, 2008 and 2007
(in thousands)University Related
University Foundation
2008 2007 2008 2007ASSETS
Current assets:
Cash and cash equivalents 75,285$ 90,075$ 14,160$ 10,684$
Investments 53,916 11,097
Accounts and pledges receivable, net 67,683 47,058 14,744 20,119
Inventories 2,001 1,806
Deposits with bond trustees 4,920 780
Notes receivable, net 3,266 2,869
Other assets 494 17,048 117 113
Total current assets 207,565 170,733 29,021 30,916Noncurrent assets:
Investments 53,591 33,122
Accounts and pledges receivable, net 10,151 23,737 45,736 15,000
Deposits with bond trustees 10,423 7,975
Endowment investments 1,095,327 1,183,723 15,651 19,511
Notes receivable, net 33,282 29,620
Other long-term investments 390,454 380,545
Capital assets, net 1,469,215 1,470,743 1,251 1,220
Total noncurrent assets 3,062,443 3,129,465 62,638 35,731
Total assets 3,270,008 3,300,198 91,659 66,647LIABILITIES
Current liabilities
Accounts payable and accrued liabilities 153,761 158,014 10,634 11,017
Deferred revenue 40,429 29,669
Long-term liabilities - current portion 65,403 138,811
Total current liabilities 259,593 326,494 10,634 11,017Noncurrent liabilities:
Deposits 3,228 10,076 713 835
Accrued liabilites 29,779 31,055
Refundable advances for federal loans 26,276 26,311
Long-term liabilities 1,025,617 935,522
Total noncurrent liabilities 1,084,900 1,002,964 713 835
Total liabilities 1,344,493 1,329,458 11,347 11,852NET ASSETS
Invested in capital assets, net of related debt 455,967 478,971 1,251 1,220
Restricted for:
Nonexpendable 1,202,523 1,265,492 47,037 29,389
Expendable 391,590 413,063 30,944 19,850
Unrestricted (124,565) (186,786) 1,080 4,336
Total net assets $ 1,925,515 1,970,740$ $ 80,312 54,795$See accompanying notes to financial statements. 15