Annual Financial Report 2024 2025

Virginia Tech Financial Report 2024-2025

Statement of Cash Flows, continued For the year ended June 30, 2025 with comparative financial information for the year ended June 30, 2024 (all dollars in thousands)

2025

2024 (restated)

Reconciliation of net operating expenses to net cash used by operating activities

Operating loss

$

(504,691) $

(420,240)

Adjustments to reconcile net gain loss to net cash used by operating activities

Depreciation expense

192,802

174,983

Changes in assets, deferred outflows, liabilities, and deferred inflows Receivables, net

(28,969) (1,313) (7,583) (1,049)

11,983

Inventories

1,368

Prepaid and other assets

(2,591)

Other postemployment benefits asset

(559)

Notes receivable, net

30

(2,312) (26,854)

Deferred outflow for VRS pension

(15,168)

Deferred outflow for other postemployment benefits

54

1,701

Accounts payable and other liabilities

(983)

(5,393) (7,239)

Accrued payroll

8,051

Accrued compensated absences

14,165

3,086

Unearned revenue Pension liability

1,740

67

(5,695) (11,027)

38,468

Other postemployment benefits liability Federal loan contributions refundable Deferred inflow for VRS pension

(160)

-

(1,342) (31,472) (20,451)

9,259

Deferred inflow for other postemployment benefits

(11,009)

Deferred inflow for long-term leases

(282)

1,007 5,414

Scholarship and other miscellaneous custodial accounts, net

4,624

Total adjustments

147,647

139,704

$

(357,044) $

(280,536)

Net cash used by operating activities

Noncash investing, capital, and financing activities

Change in accounts receivable related to non-operating income

$

8,601 $ 6,371 $ 34,395 $

(1,618)

Capital assets acquired through in-kind donations as a component of capital gifts and grants income $

5,854

Change in fair value of investments recognized as a component of investment income

$ $ $ $ $ $ $ $

27,358

Change in value of interest payable affecting interest paid Capital assets acquired through the assumption of a liability Change in interest receivable affecting interest income

(200) $

(493)

17,745 $

18,133

(93) $

902

Loss on disposal of capital assets

(1,911) $ (2,429) $ 15,260 $ 4,643 $

(12,081) (2,375)

Amortization of bond premium (discount) and gain (loss) on debt refunding

Retainage payable

18,261

Change in pension and OPEB liability recognized as a component of non-operating revenue

7,241

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

23