WMU Financial Report for 2012-13

Page 37

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


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