Annual Financial Report 2024 2025

Virginia Tech Financial Report 2024-2025

5. Accounts Receivable Accounts receivable as of June 30, 2025 (all dollars in thousands) Current accounts receivable Grants and contracts

$

95,796 5,688 3,872

Student tuition and fees Accrued investment interest Federal appropriations Long-term leases receivable

37

118

Auxiliary enterprises and other operating activities Total current receivables before allowance

43,114 148,625

Less allowance for doubtful accounts Net current accounts receivable

3,250

145,375

Noncurrent accounts receivable Capital gifts, grants, and other receivables

379

Long-term leases receivable Accrued investment interest

1,870

696 102

Build America Bond interest receivable Total noncurrent receivables

3,047

$

148,422

Total receivables

Long-term leases receivable Leases receivable represent the university’s contractual receipts for the right-to-use the present service capacity of its assets. These receivables are for cell tower leases on the Blacksburg main campus. The university’s lease agreements for cell towers typically have an initial term of 10 years with five-year renewal options. The weighted average discount rate on the university’s receivable leases is 3.61%. The university leases indirectly to cell carriers through a ground lease with a subsidiary of the foundation and directly with cell carriers. The university’s present receivable portfolio does not contain provisions for variable payments based on the university’s future performance or usage of the underlying assets. Additionally, university’s present receivable portfolio does not contain provisions for residual value guarantees. The university had no impairment losses on its lease receivable portfolio in fiscal year 2025. Future Lease Payments Receivable For fiscal years subsequent to 2025 (all dollars in thousands) Principal Interest Total 2026 $ 118 $ 69 $ 187 2027 127 65 192 2028 135 61 196 2029 116 56 172 2030 110 53 163 2031-2035 640 204 844 2036-2040 267 117 384 2041-2045 260 70 330 2046-2050 215 17 232 Total future payments receivable $ 1,988 $ 712 $ 2,700

6. Notes Receivable Notes receivable consists of the following as of June 30, 2025 (all dollars in thousands) Current notes receivable VTT LLC operating and equipment loan $

287 123

Brookings student loan programs

Other short-term loans

80

Total current notes receivable

490

Less allowance for doubtful accounts Net current notes receivable

18

472

Noncurrent notes receivable VTT LLC operating and equipment loan Brookings student loan programs Health professional student loan program Total noncurrent notes receivable Less allowance for doubtful accounts Net noncurrent notes receivable VT ARC line of credit Other short-term loans

3,979 2,591

748 664 105

8,087

111

7,976 8,448

$

Total notes receivable

Photo by Ray Meese/Virginia Tech

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