FY 2016 TTU System Combined Annual Financial Report

Transcription

1 Review of the FY 2016 TTU System Combined Annual Financial Report Gary Barnes, Vice Chancellor and CFO May 2017 Page 1

2 Revenues, Expenses and Changes in Net Position as of August 31 (in thousands) Beginning Net Position (September 1) $ 2,420,617 $ 2,454,563 $ 2,603,698 $ 2,685,809 $ 2,726,175 Revenues Tuition and Fees 336, , , , ,505 Patient Fees 222, , , , ,154 Sales and Services - Room Rent, Meals, Athletics 141, , , , ,717 Grants and Contracts 305, , , , ,650 Other Revenue 5,569 27,146 31,842 23,203 50,281 Legislative Appropriations 418, , , , ,999 Private Gifts 97, ,897 95,216 83, ,720 Investment Income 19,939 60, ,740 56,594 80,571 Total Revenue 1,547,646 1,645,078 1,809,991 1,794,362 2,027,597 Expenses Salaries, Wages & Benefits 878, , ,509 1,049,394 1,105,158 Professional Fees and Services 58,923 63,000 64,091 64,588 76,200 Travel 23,953 27,902 31,104 31,396 33,651 Materials and Supplies 79,802 80,734 85,731 90,832 91,457 Utilities, Rentals & Leases 61,121 62,266 62,747 65,952 69,172 Repairs and Maintenance 33,957 37,639 37,706 38,556 39,019 Interest Expense on Capital Assets, Depreciation 138, , , , ,004 Scholarships 74,215 65,019 65,817 69,515 77,794 Other Operating Expenses 86, , , , ,150 Total Expenses 1,435,919 1,525,439 1,608,496 1,694,659 1,804,604 Other Increase / (Decrease) in Fair Market Value of Investments 20,344 29,496 47,998 (59,284) (27,250) Prior Period Adjustment (98,125) - (167,383) (53) 6,075 Change in Net Position 132, , ,494 40, ,742 Ending Net Position (August 31) $ 2,454,563 $ 2,603,698 $ 2,685,809 $ 2,726,175 $ 2,927,992 Page 2

3 Sources of Revenue, FY 2016 Investment Income, 4% Other Revenue, 2% Private Gifts, 6% Sales and Services - Room Rent, Meals, Athletics, 9% Patient Fees, 13% Legislative Appropriations, 25% Tuition and Fees, 20% Revenues (in thousands) Legislative Appropriations $514,999 25% Tuition and Fees $404,505 20% Grants and Contracts $400,650 20% Patient Fees $262,154 13% Sales and Services - Room Rent, Meals, Athletics $185,717 9% Private Gifts $128,720 6% Investment Income $80,571 4% Other Revenue $50,281 2% Total Revenue $2,027, % Grants and Contracts, 20% Page 3

4 Total Expenses, FY 2016 Utilities, Rentals & Leases, 4% Repairs and Maintenance, 2% Travel, 2% Professional Fees and Services, 4% Scholarships, 4% Materials and Supplies, 5% Interest Expense on Capital Assets, Depreciation, 8% Salaries, Wages & Benefits, 61% Expenses (in thousands) Salaries, Wages & Benefits $1,105,158 61% Other Operating Expenses $170,150 9% Interest Expense on Capital Assets, Depreciation $142,004 8% Materials and Supplies $91,457 5% Scholarships $77,794 4% Professional Fees and Services $76,200 4% Utilities, Rentals & Leases $69,172 4% Repairs and Maintenance $39,019 2% Travel $33,651 2% Total Expenses $1,804, % Other Operating Expenses, 9% Page 4

5 Net Position, FY 2016 Encumbrances/Inve ntories/prepaid Expenses, 3% Capital Projects and Construction in Progress, 4% Self-Insurance and Practice Plan Funds, 4% Unrestricted, 9% Higher Education Assistance Fund (HEAF), 2% Scholarships and Student Support, 2% Debt Service, 1% Invested in Capital Assets, Net of Related Debt (buildings, land, equipment), 31% Net Position (in thousands) Invested in Capital Assets, Net of Related Debt (buildings, land, equipment) 900,671,764 31% Endowments and Quasi Endowments 831,241,638 28% Externally Restricted (grants, contracts, loan funds) 447,665,272 15% Unrestricted 275,341,966 9% Self-Insurance and Practice Plan Funds 113,316,940 4% Capital Projects and Construction in Progress 107,596,869 4% Encumbrances/Inventories/Prepaid Expenses 93,823,146 3% Higher Education Assistance Fund (HEAF) 62,978,670 2% Scholarships and Student Support 61,145,877 2% Debt Service 34,210,627 1% Externally Restricted (grants, contracts, loan funds), 15% Endowments and Quasi Endowments, 28% Total Net Position 2,927,992, % Page 5

6 Operating Expenses by NACUBO Function, FY 2016 Institutional Support, 7% Depreciation and Amortization, 7% Hospital and Clinic, 5% Operations and Maintenance of Plant, 5% Auxiliary Enterprises, 8% Scholarships and Fellowships, 4% Public Service, 8% Student Services, 3% Research, 11% Instruction, 28% Academic Support, 15% Operating Expenses by NACUBO Function (in thousands) Instruction $497,677 28% Academic Support $275,775 15% Research $191,814 11% Public Service $150,017 8% Auxiliary Enterprises $138,794 8% Depreciation and Amortization $122,625 7% Institutional Support $117,749 7% Operations and Maintenance of Plant $86,379 5% Hospital and Clinic $82,968 5% Scholarships and Fellowships $63,155 4% Student Services $58,268 3% Total Operating Expenses $1,785, % Page 6

7 Key Financial Indicators FY 2016 Key Financial Ratios - Texas University Systems Peer Comparison TTU System TSU System UH System UNT System TAMU System UT System Moody's/S&P/Fitch Ratios Aa1/AA+/AA+ Aa2/NR/AA Aa2/AA/NR Aa2/NR/AA Aaa/AAA/AAA Aaa/AAA/AAA Enrollments (Fall 2016) 45,857 63,799 53,456 30, , ,657 Net Tuition & Fees per Student $8,721 $8,420 $10,805 $11,396 $9,426 $10,791 Total System Budgets (billions) $1.9 $1.3 $1.5 $1.1 $4.2 $16.9 Spendable C & I to Total Debt (X) Higher is Better Total Debt to Operations Revenue (X) Lower is Better Debt Service to Operation Expenses (%) Lower is Better 3-Year Average Debt Service Coverage (X) Higher is Better 3-Year Average Operation Margin (%) Higher is Better Operating Cash Flow Margin (%) Higher is Better Spendable C&I to Operation Expense (X) Higher is Better Source: Moody's Investors Service MFRA Data Page 7

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