Annual Financial Report 2024 2025

Statement of Net Position As of June 30, 2025, with comparative financial information as of June 30, 2024 (all dollars in thousands)

2025

2024 (restated)

Virginia

Virginia Tech Foundation

Virginia

Virginia Tech Foundation

Assets

Tech

Tech

Current assets Cash and cash equivalents (Note 4) Short-term investments (Notes 4, 27)

$

291,055

$

78,473 16,731 66,491

$

294,542

$

72,236 19,409 83,307

-

-

Accounts and contributions receivable, net (Notes 1,5,27)

145,375

117,504

472

402

431

406

Notes receivable, net (Notes 1, 6)

Due from Commonwealth of Virginia (Notes 10,24)

23,203 19,810 20,262

-

15,525 18,497 12,529

-

Inventories

159 850

159 767

Prepaid expenses

Other assets

-

6,215

-

10,950 187,234

Total current assets

500,177

169,321

459,028

Noncurrent assets Cash and cash equivalents (Note 4) Short-term investments (Note 4)

132,779

43,367

70,123

56,693

-

- -

315

- -

Due from Commonwealth of Virginia (Note 10) Accounts and contributions receivable, net (Notes 1,5,27)

317,525

107,182 10,521

3,047 7,976

85,383 7,092 144,438

98,689 7,317 150,636

Notes receivable, net (Notes 1, 6)

8,046

Net investments in direct financing leases Irrevocable trusts held by others, net Long-term investments (Notes 4, 27) Depreciable capital assets, net (Notes 7, 27) Nondepreciable capital assets (Notes 7, 27)

- -

- -

5,628

5,467

1,015,154 2,707,684 228,953

2,265,814 226,598 176,444

958,198 2,334,598 553,301

2,101,533 236,366 171,619

Intangible assets, net

-

3,355 9,362

-

3,459 7,284

Other assets

12,296

11,397

Total noncurrent assets

4,425,414 4,925,591

2,967,481 3,136,802

4,053,681 4,512,709

2,839,063 3,026,297

Total assets

Deferred outflows of resources (Note 25) Liabilities Current liabilities Accounts payable and accrued liabilities (Note 8) Accrued compensated absences (Notes 1, 17)

132,721

-

118,484

-

187,357 53,013 58,689 18,615 5,067 8,296 20,199 37,544 3,072

12,235

193,468 43,527 56,949 13,991 5,986 6,499 20,152 36,670 2,607

12,437

765

767

Unearned revenue (Notes 1, 9) Funds held in custody for others

5,461

5,367

- - - -

- - - -

Commercial paper (Note 11)

Long-term subscription-based IT arrangements (Note 16)

Long-term leases payable (Note 15) Long-term debt payable (Notes 12, 13, 27)

19,447

20,143

Other postemployment benefits liabilities (Notes 17, 21)

-

-

Other liabilities

-

2,009 39,917

-

1,743 40,457

Total current liabilities

391,852

379,849

Noncurrent liabilities Accrued compensated absences (Notes 1, 17)

29,163

77

24,484

77

Unearned revenue

-

13,190

-

13,141

Long-term subscription-based IT arrangements (Note 16)

15,212 150,817 492,848

- -

12,740 169,685 535,293

- -

Long-term leases payable (Note 15) Long-term debt payable (Notes 12, 13, 27) Liabilities under trust agreements Agency deposits held in trust (Note 27)

236,173 23,416 719,255

255,491 19,409 694,421

- -

- -

Pension liability (Notes 17, 19)

305,752 128,453

- -

316,090 139,945

- -

Other postemployment benefits liabilities (Notes 17, 21)

Other liabilities

7,398

8,875

5,709

7,116

Total noncurrent liabilities

1,129,643 1,521,495

1,000,986 1,040,903

1,203,946 1,583,795

989,655 1,030,112

Total liabilities

Deferred inflows of resources (Note 25)

78,882

-

79,567

-

Net position

Investment in capital assets Restricted, nonexpendable

2,210,713

288,132 934,353

2,112,040

293,800 887,009

15,153

14,684

Restricted, expendable Scholarships, research, instruction, and other

215,769 331,166 97,368 587,766

616,523

192,702 134,914 101,481 412,010

610,569

Capital projects

- -

- -

Debt service and auxiliary operations

Unrestricted

256,891 2,095,899

204,807 1,996,185

Total net position

$

3,457,935

$

$

2,967,831

$

The accompanying Notes to Financial Statements are an integral part of this statement.

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