A-1 June 30, 2013 University Component Units ASSETS Current Assets: Cash and Cash Equivalents $ 59,611,705 $ 29,273,548 Investments 369,884,804 123,236,099 Accounts Receivable, Net 69,012,540 83,802,242 Loans and Notes Receivable, Net 1,255,547 Due from State 11,550,225 Due from Component Units/University 10,160,167 31,574,894 Inventories 781,615 1,126,935 Other Current Assets 1,753,052 11,673,047 Total Current Assets 524,009,655 280,686,765 Noncurrent Assets: Restricted Cash and Cash Equivalents 1,295,267 374,286 Restricted Investments 40,257,990 424,736,926 Loans and Notes Receivable, Net 4,317,810 Depreciable Capital Assets, Net 816,467,320 384,579,288 Nondepreciable Capital Assets 20,441,865 16,683,761 Other Noncurrent Assets 262,085 13,404,271 Total Noncurrent Assets 883,042,337 839,778,532 Total Assets 1,407,051,992 1,120,465,297 LIABILITIES Current Liabilities: Accounts Payable 18,833,386 40,695,770 Construction Contracts Payable 478,841 Salaries and Wages Payable 14,669,858 7,236,256 Deposits Payable 8,441,853 586,653 Due to Component Units/University 30,034,330 11,700,731 Unearned Revenue 40,680,234 4,049,104 Long-Term Liabilities - Current Portion: Bonds Payable 2,865,551 Certificates of Participation Payable 8,515,000 Capital Improvement Debt Payable 2,863,827 Loans and Notes Payable 198,605 Installment Purchases Payable 349,350 1,001,629 Capital Leases Payable 1,040,131 Estimated Insurance Claims Payable 4,188,870 Compensated Absences Payable 5,483,213 Total Current Liabilities 126,023,762 77,889,430
A-2 June 30, 2013 University Component Units LIABILITIES (Continued) Noncurrent Liabilities: Bonds Payable $ $ 74,617,049 Certificates of Participation Payable 312,381,427 Capital Improvement Debt Payable 28,167,456 Loans and Notes Payable 832,331 Installment Purchases Payable 74,731 2,435,638 Capital Leases Payable 1,362,934 Estimated Insurance Claims Payable 13,850,088 Compensated Absences Payable 57,662,817 Federal Advance Payable 4,502,941 Other Noncurrent Liabilities 29,924,590 Other Postemployment Benefits Payable 57,446,000 Total Noncurrent Liabilities 161,704,033 421,553,969 Total Liabilities 287,727,795 499,443,399 NET POSITION Net Investment in Capital Assets 769,948,292 23,801,486 Restricted for Nonexpendable: Endowment 488,185,703 Restricted for Expendable: Debt Service 3,002,126 Loans 6,144,192 Capital Projects 12,059,763 Other 68,377,588 Unrestricted 259,792,236 109,034,710 TOTAL NET POSITION 1,119,324,197 621,021,899
B-1 STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION For the Fiscal Year Ended June 30, 2013 University Component Unit(s) REVENUES Operating Revenues: Student Tuition and Fees, Net of Scholarship Allowances of $99,563,795 $ 248,187,348 $ - Federal Grants and Contracts 179,856,350 State and Local Grants and Contracts 18,916,428 Nongovernmental Grants and Contracts 119,725,642 46,631,265 Sales and Services of Educational Departments 8,693 Sales and Services of Auxiliary Enterprises(Net) 112,986,394 Sales and Services of Component Units 264,245,470 Royalties and Licensing Fees 2,345,894 Gifts and Donations 65,373,151 Interest on Loans and Notes Receivable 243,794 Other Operating Revenues 6,106,425 36,061,226 Total Operating Revenues 686,031,074 414,657,006 EXPENSES Operating Expenses: Compensation and Employee Benefits 697,592,547 177,667,838 Services and Supplies 231,108,808 190,007,017 Utilities and Communications 26,084,963 2,713,716 Scholarships, Fellowships, and Waivers 83,964,501 6,803,006 Depreciation 52,280,452 19,379,264 Self-Insurance Claims 505,445 Total Operating Expenses 1,091,536,716 396,570,841 Operating Income (Loss) (405,505,642) 18,086,165 NONOPERATING REVENUES (EXPENSES) State Noncapital Appropriations 250,931,557 Federal and State Student Financial Aid 106,133,040 Noncapital Grants and Donations 19,866,237 Investment Income (Loss) 13,185,283 50,485,892 Other Nonoperating Revenues 268,922 415,804 Loss on Disposal of Capital Assets (4,206,331) Interest on Capital Asset-Related Debt (1,733,904) (8,497,460) Other Nonoperating Expenses (25,551,091) (17,538,141) Net Nonoperating Revenues (Expenses) 358,893,713 24,866,095 Income (Loss) Before Other Revenues, Expenses, Gains, or Losses (46,611,929) 42,952,260 State Capital Appropriations 7,603,949 Capital Grants, Contracts, Donations, and Fees 3,674,570 159,209 Transfers To/From Other SUS Universities (118,824,372) Increase (Decrease) in Net Position (154,157,782) 43,111,469 Net Position, Beginning of Year 1,273,481,979 578,314,210 Adjustment to Beginning Net Position (403,780) Net Position, Beginning of Year, as Restated 1,273,481,979 577,910,430 Net Position, End of Year $ 1,119,324,197 $ 621,021,899
C-1 ASSETS in thousands 2013 Fiscal Year 2013 Fiscal Year 2011 Fiscal Year 2012 Fiscal Year 2013 Increase (Decrease) Percent CURRENT ASSETS: 1 Cash and Cash Equivalents $73,519 $54,409 $59,612 $5,203 9.6% 2 Investments 449,061 408,470 369,885 (38,585) -9.4% 3 Receivable, Net 65,281 63,666 69,013 5,347 8.4% 4 Loans and Notes Receivable, Net 1,351 1,337 1,256 (81) -6.1% 5 Due From State 48,024 54,734 11,550 (43,183) -78.9% 6 Due From Component Units 30,355 14,012 10,160 (3,852) -27.5% 7 Inventories 989 1,430 782 (648) -45.3% 8 Other Assets 2,783 2,298 1,753 (545) -23.7% Total Current Assets 671,362 600,355 524,010 (76,345) -12.7% NON-CURRENT ASSETS: 9 Restricted Cash and Cash Equivalents 8,360 31 1,295 1,264 4019.2% 10 Restricted Investments 76,764 67,174 40,258 (26,916) -40.1% 11 Loans and Notes Receivable, Net 5,113 4,591 4,318 (273) -6.0% 12 Other Non Current Assets 303 283 262 (20) -7.2% 13 Depreciable Capital Assets, Net 710,809 831,646 816,467 (15,178) -1.8% 14 Nondepreciable Capital Assets 164,896 84,235 20,442 (63,793) -75.7% Total Noncurrent Assets 966,246 987,960 883,042 (104,918) -10.6% TOTAL ASSETS $1,637,608 $1,588,315 $1,407,052 ($181,263) -11.4% LIABILITIES Current Liabilities:. 15 Accounts Payable $24,862 $26,627 $18,833 ($7,794) -29.3% 16 Construction Contracts Payable 16,693 1,282 479 (803) -62.7% 17 Accrued Salaries and Wages 9,842 15,593 14,670 (923) -5.9% 18 Deposits Payable 9,905 12,399 8,442 (3,957) -31.9% 19 Due to Component Units 48,619 34,618 30,034 (4,584) -13.2% 20 Unearned Revenues 74,254 61,345 40,680 (20,665) -33.7% 22 Bonds/Revenue Certificates/CIP Debt Payable 2,644 2,749 2,864 115 4.2% 23 Installment Purchase Notes Payable 313 423 349 (73) -17.3% 24 Capital Leases 0 0 0 0 0.0% 25 Accrued Self-Insurance Claims 1,497 1,535 4,189 2,654 173.0% 26 Compensated Absences Liability 5,297 5,390 5,483 93 1.7% Total Current Liabilities 193,925 161,961 126,024 (35,937) -22.2% Noncurrent Liabilities 27 Bonds/Revenue Certificates/CIP Debt Payable 33,780 31,031 28,167 (2,864) -9.2% 28 Installment Purchase Notes Payable 219 424 75 (349) -82.4% 29 Capital Leases 0 0 0 0 0.0% 30 Accrued Self-Insurance Claims 21,855 16,833 13,850 (2,983) -17.7% 31 Compensated Absences Liability 57,808 59,033 57,663 (1,370) -2.3% 32 Other Non-current Liabilities 4,801 4,625 4,503 (122) -2.6% 33 Post Employment Health Care Benefits Payab 25,016 40,927 57,446 16,519 40.4% Total Noncurrent Liabilities 143,479 152,873 161,704 8,831 5.8% TOTAL LIABILITIES $337,403 $314,834 $287,728 ($27,106) -8.6% NET POSITION: 34 Invested in Capital Assets, Net of Related Debt 790,512 830,617 769,948 (60,669) -7.3% Restricted: Nonexpendable: 35 Endowment Expendable: 36 Debt Service 14,140 2,608 3,002 394 15.1% 37 Loans 5,912 6,061 6,144 84 1.4% 38 Capital Projects 64,106 78,087 12,060 (66,027) -84.6% 39 Other Restricted Net Assets 76,930 61,501 68,378 6,877 11.2% Unrestricted 348,604 294,608 259,792 (34,815) -11.8% Total Net Position 1,300,205 1,273,482 1,119,324 (154,158) -12.1% Total Liabilities and Net Position $1,637,608 $1,588,316 $1,407,052 ($181,264) -11.4%
D-2 University of South Florida A Component Unit of the State of Florida Statement of Revenues, Expenses, and Changes in Net Position in thousands 2013 Fiscal Year 2013 Fiscal Year 2011 Fiscal Year 2012 Fiscal Year 2013 Increase (Decrease) Percent Operating Revenues 1 Student Tuition & Fees $274,760 $311,685 347,751 $36,066 11.6% 2 Less: Tuition Scholarship Allowances (88,328) (89,728) (99,564) (9,836) 11.0% 3 Net Student Tuition & Fees 186,432 221,958 248,187 26,230 11.8% 4 Federal Grants & Contracts 176,599 170,269 179,856 9,588 5.6% 5 State & Local Grants & Contracts 18,884 13,724 18,916 5,192 37.8% 6 Nongovernmental Grants & Contract 114,140 113,651 119,726 6,075 5.3% 7 Sales & Services of Educational Departments 485 299 9 (290) -97.1% 8 Sales & Services of Auxiliary Enterprises 104,771 107,203 112,986 5,783 5.4% 9 Interest on Loans Receivable 188 148 244 96 64.5% 10 Other Operating Revenue 6,681 2,341 6,106 3,765 160.8% TOTAL OPERATING REVENUES 608,180 629,592 686,031 56,439 9.0% Operating Expenses 11 Compensation & Employee Benefits 685,028 708,747 697,593 (11,154) -1.6% 12 Services & Supplies 215,314 230,950 231,109 159 0.1% 13 Utilities and Communications 26,122 26,504 26,085 (419) -1.6% 14 Scholarships, Fellowships and Waivers 98,497 85,148 83,965 (1,184) -1.4% 15 Depreciation Expense 48,719 47,719 52,280 4,562 9.6% 16 Self Insurance Claims & Expenses 4,762 681 505 (175) -25.7% TOTAL OPERATING EXPENSES 1,078,443 1,099,749 1,091,537 (8,212) -0.7% Total Operating Income (Loss) (470,262) (470,156) (405,506) 64,650-13.8% NonOperating Revenues (Expenses) 17 State Appropriations 329,219 305,549 250,932 (54,617) -17.9% 18 Federal and State Student Financial Aid 128,204 107,686 106,133 (1,553) -1.4% 19 State Appropriated American Recovery & Reinvestment Act Funds 22,332 0 0 0 0.0% 20 Investment Income 12,558 13,216 18,094 4,878 36.9% 21 Unrealized Gains & Losses 8,889 (3,542) (4,859) (1,317) 37.2% 22 Investment Expenses (92) (71) (50) 21-29.8% 23 Net Investment Income 21,355 9,603 13,185 3,582 37.3% 24 Other Non-Operating Revenues 2,326 22,246 20,135 (2,111) -9.5% 25 Gain/Loss on Disposal of Capital Assets (2,851) (23,184) (4,206) 18,977-81.9% 26 Interest on Asset-Related Debt (1,899) (1,669) (1,734) (65) 3.9% 27 Other Non-Operating Expenses (24,936) (41,251) (25,551) 15,700-38.1% TOTAL NON-OPERATING REVENUES (EXPENSES) 473,749 378,980 358,894 (20,086) -5.3% Income (Loss) Before Contributions and Transfers 3,487 (91,176) (46,612) 44,564-48.9% Contributions and Transfers 28 Capital Appropriations 21,486 37,009 7,604 (29,405) -79.5% 29 Capital Grants, Contracts, Donations and Fees 8,144 27,444 3,675 (23,770) -86.6% 30 Transfers to/from Other SUS Universities (118,824) (118,824) 100.0% Change in Net Position 32,972 (26,723) (154,158) (127,435) 476.9% Total Net Position - Beginning 1,267,233 1,300,205 1,273,482 (26,723) -2.1% Adjustments to Beginning Net Position 0 0 0 0 0.0% Total Net Position - Ending $1,300,205 $1,273,482 1,119,324 ($154,158) -12.1%