Western Michigan University
Western Michigan University
Statement of Cash Flows (Continued) Statement of Cash Flows (Continued)
Western Michigan University
Year Ended June 30 2013 2012
Discretely Presented Component
Reconciliation of Operating Loss to Net Cash from Operating Units Balance Sheet and Statement of Activities Activities and Changes$ in(125,874,857) Net Assets Operating loss $ (114,722,303) Adjustments to reconcile operating loss to net Western Michigan University Western Michigan University Paper Technology Western Michigan University cash from operating activities: Foundation School of Medicine Research Foundation Foundation, Inc. June 30 June 30 June 30 June 30 Balance Sheet Depreciation2013 25,244,118 2012 2013 2012 2013 2012 26,754,140 2013 2012 Assets Amortization of bond issuance costs 1,881,842 (395,628) $ 20,861,818 $ 29,305,520 $ 588,652 $ $ 2,532,890 $ 4,544,534 $ 378,877 $ 293,974 Cash and short-term investments 247,419,859 188,980,525 2,406,065 4,356,502 5,320,756 5,599,031 5,158,387 Investments (Note 2) Disposal/Adjustments of fixed assets 184,031 (5,834,694) 93,188,860 89,878,463 672,400 2,615 3,240 Pledges receivable - Net (Note 3) Cash surrender value of lifeDecrease insurance (increase) in assets: 1,286,310 1,038,977 policies 282,666 376,705 1,283,400 2,679,484 1,117,317 968,103 Federal and state grants receivable 1,189,332 Other receivable 728,979 Other assets Accounts receivable - Net 1,636,690 (6,483,471) Land, land contracts, and other 6,085,883 5,689,863 5,844,353 328,275 property Inventories 2,992,839 474,481 $369,125,396 $315,270,053 $ 11,523,849 $ $ 9,568,876 $ 11,310,882 $ 5,980,523 $ 5,455,601 Prepaid assets and other current assets (1,526,041) 74,015 Total assets Loans to students 1,208 585,849 Liabilities Accounts payable $ increase 3,614 $in liabilities: 9,775 $ 1,211,910 $ $ 42,779 $ 294,442 $ 455 $ 234 (Decrease) Outstanding checks in excess of cash 364,228 Accounts payable (228,214) (59,051) Deposits held in escrow 100,000 100,000 Debt 94,185 Accrued payroll and other compensation 821,444 1,521,660 Accrued payroll, withholdings, and other 1,321,586 9,111 30,654 Other liabilities 5,026,629 5,151,749 Deferred compensation 2,406,065 Unearned tuition and fees 2,147,863 519,246 Total liabilities
103,614
Total net assets
Total revenue gains, losses, and support Expenditures and Distributions Program services Management and general Fundraising Total expenditures Distributions Total expenditures and distributions Change in Net Assets Net Assets — Beginning of year Net Assets — End of year
51,890
325,096
$
455
234
$
(85,214,323)
(92,734,697)
103,059,112 149,473,875 62,627,291
5,191,606 770,262 164,007
-
9,516,986 -
10,985,786 -
1,526,628 2,671,916 1,781,524
1,342,344 2,346,478 1,766,545
369,021,782
315,160,278
6,125,875
-
9,516,986
10,985,786
5,980,068
5,455,367
-
$ 9,568,876
$ 11,310,882
$ 5,980,523
$ 5,455,601
$315,270,053
$ 11,523,849
Year Ended June 30 2013 2012 $
-
152,027,952 148,458,074 68,535,756
$369,125,396
Statement of Activities and Changes in Net Assets Revenue Gains, Losses, and Other Support Gifts, contributions, and other Investment income Contracted services and support Patient service revenue Governmental grants and contracts Other income Net gain (loss) from security and other investment transactions Net transfers from Western Michigan University Research Foundation Net transfers from Western Michigan University
5,397,974
Net cash used in operating activities
Net Assets Unrestricted Temporary restricted Permanently restricted
Total liabilities and net assets
109,775
38,499,788 6,604,964 21,965,980
$
$
Year Ended June 30 2013 2012
14,374,197 5,528,254 -
$
3,809,151 33,993,726 9,629,638 2,499,325 -
(8,211,800)
$
Year Ended June 30 2013 2012 -
-
-
$
74,404 211,082 -
$
Year Ended June 30 2013 2012
132,641 1,900,000 166,271 56,977
$
163,666 152,843 545,127
$
164,270 152,466 (223,592)
781,638
-
-
-
-
-
-
-
41,277,101
20,718,467
716,520
-
137,166
11,910,700
132,958
6,438
109,129,471
32,409,118
50,648,360
-
422,652
14,166,589
994,594
99,582
169,081 206,325 3,889,839
39,146 287,148 4,299,783
43,842,329 6,776,329 -
-
1,019,814 -
1,929,478 1,278,906 -
71,484 71,120 137,985
76,443 74,311 168,856
4,265,245
4,626,077
50,618,658
-
1,109,814
3,208,384
280,589
319,610
51,002,722
22,445,191
-
-
781,638
-
189,304
183,955
55,267,967
27,071,268
50,618,658
-
1,891,452
3,208,384
469,893
503,565
53,861,504
5,337,850
29,702
-
(1,468,800)
10,958,205
524,701
(403,983)
315,160,278
309,822,428
6,096,173
$369,021,782
$ 315,160,278
$ 6,125,875
The Notes to the Financial Statements are an The Notes to the Financial Statements are an 23 Integral Part of This Statement.
Integral Part of This Statement.
$
22
-
10,985,786
27,581
5,455,367
5,859,350
-
$ 9,516,986
$ 10,985,786
$ 5,980,068
$ 5,455,367
Financial Report 35