Colgate University, NY

Transcription

1 Colgate University, NY Madison County Capital Resource Corporation Tax-Exempt Revenue Bonds (Colgate University Project), Series 2015B $49,670,000, Dated: July 8, 2015 Madison County Capital Resource Corporation Tax-Exempt Revenue Bonds (Colgate University Project), Series 2015A $39,985,000, Dated: May 14, 2015 Madison County Capital Resource Corporation Tax-Exempt Revenue Bonds (Colgate University Project), Series 2013A $42,975,000, Dated: February 14, 2013 Madison County Capital Resource Corporation Tax-Exempt Revenue Bonds (Colgate University Project), Series 2012A $26,450,000, Dated: June 15, 2012 Madison County Capital Resource Corporation Tax-Exempt Revenue Bonds (Colgate University Project), Series 2010A $33,650,000, Dated: May 25, 2010 GENERAL INFORMATION Academic Faculty Academic Year Full-Time Faculty Part-Time Faculty Total Faculty Employment Faculty, Librarians and Physical Education Instructors 326 Other Academic Administrators 18 Administrative/Professional 264 Facilities 136 Secretarial, Clerical & Technical 186 Total 930

2 STUDENT DEMAND Student Admission Geographic Distribution of Total Student Body Fall 2016 Fall 2015 Fall 2014 Fall 2013 Fall 2012 New York State 24.8% 25.0% 25.2% 25.3% 25.8% Mid-Atlantic 20.2% 21.6% 21.2% 21.8% 22.0% New England 18.4% 17.6% 19.1% 18.6% 17.8% Midwest 8.7% 8.5% 8.6% 8.4% 11.5% West & Southwest 14.1% 13.4% 12.9% 13.0% 10.6% International 10.0% 9.7% 9.6% 9.2% 8.6% Southeast 3.9% 4.2% 3.4% 3.7% 3.7% Academic Year Applications Acceptances % Accepted New Enrollment % Yield % % % % % % % % % % Student Enrollment Admission Statistics Enrollment Summary Full-Time Part-Time Academic Year Undergraduate Graduate Undergraduate Graduate Headcount Total FTE Degrees Conferred Academic Year Undergraduate Graduate Total

3 FINANCIAL INFORMATION Statement of Activities Condensed Statement of Activities ($ in thousands) Operating Revenues: Tuition and Fees $ 125,238 Less: Scholarships $ (42,366) Net Tuition and Fees $ 82,872 Auxiliary Operations $ 29,235 Government Grants and Contributions $ 2,575 Private Grants and Contributions $ 11,885 Investment Return $ 32,541 Other $ 2,583 Total Operating Revenues $ 161,691 Available in the university's audited financial statements - See page 3 Available in the university's audited financial statements - See page 3 Operating Expenses: Instruction and Research $ 63,155 Athletics $ 21,389 Acedemic Support $ 17,958 Student Services $ 12,730 Institutional Suppoer $ 26,617 Auxiliary Operations $ 26,421 Total Operating Expenses $ 168,270 Increase/Decrease In Net Assets From $ (6,579) Operating Activities Increase/Decrease In Net Assets From $ (16,226) Non-Operating Activities Net Assets at the Beginning of the Year $ 894,223 Net Assets at the End of the Year $ 871,418 Available in the university's audited financial statements - See page 4 Available in the university's audited financial statements - See page 4 Management Discussion Not Available

4 Tuition and Fees Student Charges Academic Year Tuition Charges Room&Board Activity Fee Total $ 44,330 $ 11,075 $ 310 $ 55, $ 46,060 $ 11,510 $ 320 $ 57, $ 47,855 $ 11,970 $ 320 $ 60, $ 49,650 $ 12,570 $ 320 $ 62, $ 51,635 $ 13,075 $ 320 $ 65,030 Student Financial Aid Sources of Scholarship and Grant Aid ($ in thousands) Fiscal Year Colgate Grants State Grants Federal Grants Outside Awards Total 2011 $ 37,725 $ 689 $ 1,854 $ 260 $ 40, $ 41,739 $ 714 $ 1,603 $ 251 $ 44, $ 43,122 $ 692 $ 1,751 $ 130 $ 45, $ 45,577 $ 706 $ 1,697 $ 73 $ 48, $ 49,762 $ 668 $ 1,804 $ 97 $ 52, $ 53,766 $ 636 $ 1,780 $ 238 $ 56,420 Private Grants and Contributions Private Grants and Contributions ($ in thousands) Operating $ 14,349 $ 12,493 $ 11,399 $ 13,868 $ 11,885 Non-Operating $ 13,268 $ 22,763 $ 34,510 $ 19,635 $ 15,071 Total $ 27,617 $ 35,256 $ 45,909 $ 33,503 $ 26,956 Government Grants and Contributions $ in thousands Fiscal Year Federal State Total 2011 $ 1,546 $ 339 $ 1, $ 1,631 $ 228 $ 1, $ 1,457 $ 318 $ 1, $ 1,150 $ 450 $ 1, $ 1,102 $ 222 $ 1, $ 1,243 $ 235 $ 1,478

5 Summary of Financial Position Summary of Financial Position ($ in thousands) Assets Cash and Cash Equivalents $ 33,601 Accounts Receivable, Net $ 1,226 Intermediate Investments $ 13,764 Inventories $ 2,004 Prepaid Expenses and Other Assest $ 4,699 Student Loans Receivable, Net $ 3,239 Pledges Receivable, Net $ 2,699 Long-term Investments $ 720,733 Land, Blds and Equipment, Net $ 335,995 Funds Held in Trust by Others $ 8,095 Total Assets $ 1,126,055 Liabilities Accounts Payable and Accrued Expenses $ 14,441 Deposits and Deferred Revenues $ 16,002 Annuities and Deferred Giving Arrangements $ 16,189 Postretirement Benefits $ 20,594 Federal Student Loan Funds $ 3,346 Conditional Asset Retirement Obligation $ 9,963 Long-Term Debt $ 174,102 Total Liabilities $ 254,637 Net Assets Total Net Assets $ 871,418 Total Liabilities and Net Assets $ 1,126,055 Available in the university's audited financial statements - see page 2 Available in the university's audited financial statements - see page 2 Available in the university's audited financial statements - see page 3 Available in the university's audited financial statements - see page 3 Investments Summary of Endowment Investment's Allocation ($ in thousands) As of June 30, 2016 As of June 30, 2015 Asset Class Category Market Value Allocation Market Value Allocation Target Range Public Equity $ 209,568 26% $ 278,487 31% 5-45% Private Equity $ 114,513 14% $ 120,738 14% 5-20% Long/Short Hedge Funds $ 175,400 21% $ 145,364 16% 5-45% Absolute Return Hedge Funds $ 150,679 18% $ 170,469 19% 5-30% Fixed Income $ - 0% $ 11,229 1% 2-20% Real Assets $ 89,644 11% $ 91,369 10% 5-15% Cash $ 81,360 10% $ 74,143 8% 2-20% Total $ 821, % $ 891, % Performance: Years Annualized returns for the years ended June 30, 2016 are as follows: Annualized Returns of Colgate Endowment % % %

6 Campus Facilities Land, Buildings and Equipment ($ in thousands) Land and Improvements $ 28,201 Buidings Available in the Available in the Available in the Available in the $ 405,227 Equipment, books and Art university's university's university's university's $ 88,229 Construction in Progress audited financial audited financial audited financial audited financial $ - Total Land, Building and Equipment statements - See statements - See statements - See statements - See $ 521,657 Less: Accumulated Depriciation page 19 page 19 page 20 page 9 $ (185,662) Net Land, Building and Equipment $ 335,995 Outstanding Indebtedness Issue Rate Maturity Outstanding Available in the university's audited financial statements - See page Pension and Postretirement Plans Available in the university's audited financial statements - See pages Insurance Insurance presently in effect on the university's property is written on a premises building or personal property policy with the following approximate limit of $619 million. Litigation Litigation and other claims incident to the operation of the university are pending against the university. While the ultimate liability, if any, of the university is not presently determinable, such litigation and other claims, in the judgement of the university, will not in the aggregate have a material adverse effect on the university's financial position.