UNIVERSITY OF VERMONT AND STATE AGRICULTURAL COLLEGE
(a component unit of the State of Vermont)
BALANCE SHEET Exhibit A
for the year ended June 30, 1996
(with comparative totals for 1995)
(in thousands of dollars)
Endowment 1996 1995
Current Loan and Similar Plant Agency Total Total
ASSETS
Cash and cash equivalents 11,568 1,597 7,396 11,890 1,151 33,602 25,319
Deposits with trustees 1,136 9,189 8,697 3,580 22,602 20,151
Investments at market 34,967 2 121,115 156 156,240 137,968
Accounts receivable, net 13,527 1 1,261 1,243 16,032 17,917
Student loans receivable, net 29,502 29,502 27,158
Inventories at lower of cost or market 2,004 2,004 1,820
Prepaid expenses and deferred charges 5,001 5,001 5,174
Land, buildings and equipment, net 1 377 127,829 128,207 120,939
Total assets 68,204 31,101 138,078 149,833 5,974 393,190 356,446
LIABILITIES AND FUND BALANCES
Liabilities:
Accrued liabilities 15,563 15,563 17,972
Accounts payable 7,995 5 2,012 494 10,506 4,892
Deferred tuition, deposits, and funds he 5,478 21 5,267 10,766 10,680
Obligations under deferred giving arrangements 818 213 1,031 407
Notes payable 1,166 1,166 1,095
Bonds and mortgages payable 24,736 24,736 26,865
Total liabilities 29,036 5 818 27,935 5,974 63,768 61,911
Interfund balances 193 12 (205)
Fund Balances
Unrestricted - internally designated for:
Working capital 2,000 2,000 2,000
Provision for encumbrances 1,796 1,796 1,734
Future years' operations 14,837 14,837 10,457
Restricted 20,342 20,342 18,395
United States Government capital contribution 12,314 12,314 12,186
University loans 18,770 18,770 17,190
Endowment 89,952 89,952 77,148
Quasi-endowment - unrestricted 10,979 10,979 9,656
Quasi-endowment - restricted 23,443 23,443 19,978
Term endowment, life income and annuity funds 12,886 12,886 12,538
Unexpended plant 4,566 4,566 4,399
Renewals and replacements 12,163 12,163 12,878
Retirement of indebtedness 2,468 2,468 2,854
Invested in plant, net 102,906 102,906 93,122
Total fund balances 38,975 31,084 137,260 122,103 329,422 294,535
Total liabilities and fund balances 68,204 31,101 138,078 149,833 5,974 393,190 356,446
The accompanying notes are an integral part of the
financial statements.