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John Carroll University Faculty Forum

John Carroll University Faculty Forum. Vice President for Finance and Administrative Services Annual Report. November 20, 2003. Agenda. Financial Presentation Richard Mausser – Controller Other Updates Q & A Session Jonathan Ivec – VP for Finance and Administrative Services.

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John Carroll University Faculty Forum

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  1. John Carroll UniversityFaculty Forum Vice President for Finance and Administrative Services Annual Report November 20, 2003

  2. Agenda • Financial Presentation • Richard Mausser – Controller • Other Updates • Q & A Session • Jonathan Ivec – VP for Finance and Administrative Services

  3. Financial Presentation Agenda • 0203 Financial Results Overview • Investment Profile • Major Project Funding Status • Selected Ranking Statistics

  4. (In thousands) May 31, May 31, 2003 2002 Assets Cash and cash equivalents $ 4,297 $ 4,809 Accounts receivable, net 2,126 Contributions receivable, net 11,699 10,985 Inventories, prepaids and other assets 1,586 1,434 Student notes receivable, net 5,806 5,887 Deposits with bond trustees 7,313 29,488 Investments, at fair market value 152,101 181,131 Land, buildings and equipment, net 166,768 119,995 Funds held in trust by others 2,992 3,061 Total assets $ 353,697 $ 359,630 Statements of Financial Position - Assets 1,849

  5. Endowment Portfolio Market Value

  6. Distribution of Endowment FundsMay 31, 2003 Investment Manager

  7. Endowment Fund Investment ProfileMay 31, 2002 and 2003 2003 2002

  8. Center for Science and TechnologyCash Flow Projection - Cumulative * As of 09/15/03

  9. Shula Stadium ProjectCash Flow Projection - Cumulative * As of 09/15/03

  10. (In thousands) May 31, May 31, 2003 2002 Liabilities and net assets 10,933 Accounts payable and accrued expenses $ 12,680 $ Accrued salaries and wages 5,478 5,042 Deposits and advance payments 2,169 1,540 830 Deferred income 1,236 Long-term debt 82,252 84,587 Refundable federal student loans 2,145 2,166 105,504 Total liabilities $ 105,554 $ Statements of Financial Position - Liabilities

  11. Projected Long-Term Debt Principal Balances Before 2003 Issue

  12. Projected Long-Term Debt Principal Balances After 2003 Issue

  13. Long-Term Debt as a Percent of Total Endowment

  14. (In thousands) May 31, May 31, 2003 2002 Net Assets Unrestricted Available for operations $ 1,069 $ 1,069 Designated for specific purposes 29,316 37,790 Endowment 65,553 72,817 Net investment in plant 75,853 50,507 Total unrestricted 171,191 162,183 Temporarily restricted 20,281 38,939 Permanently restricted 56,071 53,004 Total net assets 248,143 254,126 Total liabilities and net assets $ 353,697 $ 359,630 Statements of Financial Position – Net Assets

  15. Increase (In thousands) 2003 2002 (Decrease) Revenues, gains and other support Tuition and fees $ 71,715 $ 68,050 $ 3,665 Less scholarships and grants 24,745 22,439 2,307 46,970 45,611 1,359 Contributions and private grants 6,131 5,446 686 1,492 Governmental grants and contracts 4,045 2,554 Investment return designated for operations 7,355 7,285 69 Interest income 379 757 (378) Auxiliary enterprises 15,213 14,871 348 1,235 Other 1,984 748 Total operating revenues $ 82,077 $ 77,759 $ 4,318 Statements of Activities – Operating Revenues

  16. Operating RevenuesYear Ended May 31, 2003 Revenue Sources

  17. Jesuit InstitutionsRanked by 2003/04 Tuition, Room and Board - Part 1

  18. Jesuit InstitutionsRanked by 2003/04 Tuition, Room and Board - Part 2

  19. Ohio Private UniversitiesRanked by 2003/04 Tuition and Fees - Part 1

  20. Ohio Private UniversitiesRanked by 2003/04 Tuition and Fees - Part 2

  21. Statements of Activities – Operating Expenses Increase (In thousands) 2003 2002 (Decrease) Expenses Instructional $ 29,469 $ 27,655 $ 1,814 5,694 5,527 167 Sponsored programs 51 Library 2,629 2,578 Physical plant 5,265 5,292 (27) Administrative and general 43 14,384 14,341 2,814 2,915 (101) Student activities 11,183 10,488 695 Auxiliary enterprises 4,993 4,355 638 Depreciation Interest 2,710 2,695 15 Total operating expenses 79,141 75,846 3,295 Increase in operating net assets $ 2,936 $ 1,913 $ 1,023

  22. Operating ExpensesYear Ended May 31, 2003 Functional Expenses

  23. Increase (In thousands) 2003 2002 (Decrease) Nonoperating revenues and expenses: (1,264) Contributions to endowments $ 718 $ 1,982 $ Contributions for acquisition of capital 3,269 (743) assets - net 2,526 Investment return in excess of amounts (12,163) designated for operations (9,917) (2,246) Increase in nonoperating net assets (8,919) (4,666) (4,253) Increase in net assets (5,983) (2,753) (3,230) 2,753 Net assets at beginning of year 254,126 256,879 Net assets at end of year $ 248,143 $ 254,126 $ (5,983) Statements of Activities – Nonoperating Revenues/ Expenses

  24. Q & A

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