Annual Financial Report - UC Berkeley Controller's Office

UNIVERSITY OF CALIFORNIA, BERKELEY

Annual Financial Report

2017-18

TABLE OF CONTENTS

Statements of Net Position at June 30, 2018 and 2017

1

Statements of Revenues, Expenses and Changes in Net Position

for the Years Ended June 30, 2018 and 2017

2

Statements of Cash Flows for the Years Ended June 30, 2018 and 2017

3

Notes to Financial Statements

5

UNIVERSITY OF CALIFORNIA, BERKELEY

STATEMENTS OF NET POSITION (unaudited)

CAMPUS *

At June 30, 2018 and 2017 (In Thousands of Dollars)

2018

ASSETS

Cash and cash equivalents

Short-term investments

Investments held by trustees

Accounts receivable, net

Pledges receivable, net

Notes and mortgages receivable, net

Inventories

Other current assets

$

Current assets

Investments

Investments held by trustees

Restricted bond proceeds held by UC

Pledges receivable, net

Notes and mortgages receivables, net

Capital assets, net

Other noncurrent assets

235,410

FOUNDATION

2017

$

142,545

1,678

180,881

2,985

7,057

4,871

5,216

1,360

199,412

2,380

4,629

5,035

5,136

438,098

360,497

3,586,379

984

7,172

3,293

25,124

3,816,391

1,431

2018

$

2017

6,279

56,975

$

41,772

4,587

39,040

31,825

2,896

618

107,922

2,113,645

76,070

1,956,253

75,244

80,547

7,440,774

4,069

2,192,958

2,040,520

2,300,880

2,116,590

Noncurrent assets

3,750,499

511

4,216

2,451

17,794

3,957,809

1,030

7,734,310

Total assets

8,172,408

7,801,271

373,584

472,872

70,658

51,781

9,761

192,351

204,537

105,746

2,403

112,042

749,279

85,576

51,236

10,227

198,455

132,259

111,336

2,456

115,014

706,559

851

804

7,459

8,230

16,540

7,325

8,250

16,379

Noncurrent liabilities

21,040

2,148,065

1,045,619

1,443,567

26,355

4,684,646

22,663

2,164,340

1,141,828

1,556,935

29,535

4,915,301

79,454

79,454

78,392

78,392

Total liabilities

5,433,925

5,621,860

95,994

94,771

858,818

701,959

69,523

67,768

1,534,095

1,450,997

391,451

2,541,913

57,468

(2,271,678)

2,253,249

390,762

2,427,714

51,430

(2,370,579)

1,950,324

1,158,752

973,507

1,072,195

877,471

DEFERRED OUTFLOWS OF RESOURCES

LIABILITIES

Accounts payable

Accrued salaries

Employee benefits

Unearned revenue

Commercial paper

Current portion of long-term debt

Funds held for others

Other current liabilities

Current liabilities

Federal refundable loans

Long-term debt

Net pension liability

Net retiree health benefits liability

Other noncurrent liabilities

DEFERRED INFLOWS OF RESOURCES

NET POSITION

Net investment in capital assets

Restricted:

Nonexpendable: Endowments and gifts

Expendable: Endowments and gifts

Expendable: Other, including debt service, loans, capital projects and appropriations

Unrestricted

$

Total net position

* See accompanying Notes to Financial Statements

1

$

$

3,104

2,135,363

3,720

$

4,385

1,954,051

UNIVERSITY OF CALIFORNIA, BERKELEY

STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION (unaudited)

CAMPUS *

At June 30, 2018 and 2017 (In Thousands of Dollars)

2018

OPERATING REVENUES

Student tuition and fees, net

Grants and contracts, net:

Federal

State

Private

Local

Educational activities, net

Auxiliary enterprises, net

Campus foundation private gifts

Other operating revenues, net

Total operating revenues

$

OPERATING EXPENSES

Salaries and wages

Pension benefits

Retiree health benefits

Other employee benefits

Supplies and materials

Depreciation and amortization

Scholarships and fellowships

Utilities

Campus foundation grants

Other operating expenses

Total operating expenses

Operating loss

NONOPERATING REVENUES (EXPENSES)

State educational appropriations

State financing appropriations

Build America Bonds federal interest subsidies

Federal Pell Grants

Private gifts, net

Investment income:

Short-Term Investment Pool and other, net

Endowment, net

Campus foundation

Net appreciation in fair value of investments

Interest expense

Other nonoperating (expenses) revenues, net

Net nonoperating revenues

Income before other changes in net position

OTHER CHANGES IN NET POSITION

Capital gifts and grants, net

Permanent endowments

Transfer for pension benefits from UC

Transfers from (to) UC - capital asset related

Increase (Decrease) in net position

FOUNDATION

2017

933,909

$834,442

367,780

93,563

212,358

13,368

88,108

186,434

377,872

79,555

179,739

12,978

85,636

204,941

121,507

2,017,027

76,351

1,851,514

1,255,313

99,394

77,158

278,490

157,992

224,036

167,418

31,944

1,219,539

151,246

116,226

279,952

155,916

228,367

134,580

40,952

437,871

2,729,616

446,335

2,773,113

(712,589)

(921,599)

352,912

38,019

9,489

43,364

315,857

368,270

26,929

9,797

38,197

267,563

32,175

22,685

25,456

21,724

167,007

(99,093)

(7,309)

875,106

299,475

(100,133)

27,186

984,464

162,517

62,865

100,925

53,993

24,613

14,870

302,925

2018

$

22,653

(202,188)

(62,677)

181,285

238

181,523

2017

$

115,125

454

115,579

227,507

9,670

237,177

198,795

10,161

208,956

(55,654)

(93,377)

9,083

147,913

8,415

202,919

156,996

211,334

101,342

117,957

79,970

67,632

181,312

185,589

1,954,051

1,828,044

NET POSITION

1,954,693

Beginning of year, as previously reported

Cumulative effect of accounting change

Beginning of year, as restated

$

End of year

* See accompanying Notes to Financial Statements

2

2,783,584

(4,369)

(770,583)

1,950,324

2,013,001

2,253,249

$

1,950,324

(59,582)

1,954,051

$

2,135,363

1,768,462

$

1,954,051

UNIVERSITY OF CALIFORNIA, BERKELEY

STATEMENTS OF CASH FLOWS (unaudited)

CAMPUS *

Years Ended June 30, 2018 and 2017 (In Thousands of Dollars)

2018

CASH FLOWS FROM OPERATING ACTIVITIES

Student tuition and fees

Grants and contracts

Educational activities

Auxiliary enterprises

Collection of loans from students and employees

Campus foundation private gifts

Payments to employees

Payments for pension benefits

Payments for retiree health benefits

Payments for other employee benefits

Payments to suppliers and utilities

Payments for scholarships and fellowships

Loans issued to students and employees

Payments to campus and beneficiaries

Other receipts

Net cash used by operating activities

CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES

State educational appropriations

Federal Pell grants

Gifts received for other than capital purposes:

Private gifts for endowment purposes

Other private gifts

Student direct lending receipts

Student direct lending payments

Other receipts

Net cash provided by noncapital financing activities

CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES

$

State financing appropriations

Build America Bonds federal interest subsidies

Capital gifts and grants

Proceeds from debt issuance

Proceeds from the sale of capital assets

Purchase of capital assets

Refinancing or prepayment of outstanding debt

Scheduled principal paid on debt and capital leases

Interest paid on debt and capital leases

Net cash used by capital and related financing activities

CASH FLOWS FROM INVESTING ACTIVITIES

Proceeds from sales and maturities of investments, net of purchases of investments

Investment income, net of investment expenses

Net cash provided by investing activities

Net increase (decrease) in cash and cash equivalents

Cash and cash equivalents, beginning of year

Cash and cash equivalents, end of year

$

* See accompanying Notes to Financial Statements

3

932,454

700,915

87,473

171,259

10,072

FOUNDATION

2017

$

840,045

684,449

82,660

205,577

7,360

(1,251,653)

(143,374)

(26,623)

(288,832)

(626,115)

(167,477)

(5,290)

(1,278,736)

(148,289)

(27,193)

(287,324)

(649,618)

(134,496)

(5,718)

125,111

(482,080)

65,720

(645,563)

352,912

43,052

368,270

37,099

316,095

146,459

(146,459)

2,218

714,277

268,548

142,611

(142,611)

22,490

696,407

38,019

9,583

24,282

98,424

129

(200,261)

(49)

(33,686)

(107,948)

(171,507)

26,929

9,797

23,519

150,216

101

(25,146)

(202,239)

(87,293)

(107,040)

(211,156)

2018

$

162,678

2017

$

115,399

(12,184)

(10,166)

(234,988)

2,452

(82,042)

(206,011)

2,842

(97,936)

61,846

49,682

49,682

61,846

12,805

9,083

21,888

40,769

8,415

49,184

32,175

32,175

8,862

25,456

34,318

92,865

(125,994)

1,692

930

142,545

268,539

4,587

6,279

3,657

4,587

235,410

$

142,545

$

$

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