Annual Financial Report 2024 2025

Virginia Tech Financial Report 2024-2025

7. Capital Assets A summary of changes in capital assets for the year ending June 30, 2025 (all dollars in thousands)

Beginning Balance

Ending Balance

Additions

Retirements

Depreciable capital assets Buildings Buildings - financed purchase

$ 2,601,901

$

438,110

$

1,933

$

3,038,078 13,952 933,342 38,575 199,882

13,952 871,692 39,399 187,983 152,258 79,875 659

-

-

Moveable equipment

96,518 1,200 12,787

34,868 2,024

Capitalized software and other intangible assets

Fixed equipment

888

Fixed equipment - financed purchase

-

-

659

Infrastructure Library books

2,506

45 71

154,719 80,196

392

Right-to-use intangible assets Land

4,442

-

93

4,349

Buildings Equipment Infrastructure SBITA assets

269,629

3,573

8,142

265,060

73

- -

- -

73

181

181

38,057

14,172 569,258

4,994 53,058

47,235

Total depreciable capital assets, at cost

4,260,101

4,776,301

Less accumulated depreciation and amortization Buildings

901,469

73,376

1,931

972,914

Buildings - financed purchase

5,813

581

-

6,394

Moveable equipment

593,059 32,519 113,757 116,227 75,429 247

68,306 3,622 7,927

32,952 2,024

628,413 34,117 121,054 119,432 76,312 274

Capitalized software and other intangible assets

Fixed equipment

630

Fixed equipment - financed purchase

27

-

Infrastructure Library books

3,251

46 71

954

Right-to-use intangible assets Land

849

231

93

987

Buildings Equipment Infrastructure SBITA assets

68,733

23,702

6,989

85,446

30

24 31

- -

54

123

154

17,248

10,770 192,802 376,456

4,952 49,688 3,370

23,066

Total accumulated depreciation and amortization

1,925,503 2,334,598

2,068,617 2,707,684

Total depreciable capital assets, net of accumulated depreciation and amortization

Nondepreciable capital assets Land Equipment in process Construction in progress Lease renovation in progress SBITA in development Livestock

48,272

-

- -

48,272

532

151

683

13,933 490,485

6,929

12,730 441,063

8,132

122,393

171,815

28 51

- -

28

-

-

51

Total nondepreciable capital assets

553,301 2,887,899

129,473

453,821

228,953 2,936,637

$

$

505,929 $

457,191 $

Total capital assets, net of accumulated depreciation and amortization

8. Accounts Payable and Accrued Liabilities Accounts payable and accrued liabilities at June 30, 2025, consist of the following (all dollars in thousands) Accounts payable $ 44,455 Accounts payable, capital projects 21,412 Accrued salaries and wages payable 106,230 Retainage payable 15,260 Total current accounts payable and accrued liabilities $ 187,357 Retainage payable represents funds held by the university as retainage on various construction contracts for work performed. Funds retained will be remitted as agreed upon satisfactory completion of the projects.

9. Unearned Revenue Unearned revenue consists of the following at June 30, 2025

(all dollars in thousands) Grants and contracts Prepaid tuition and fees Prepaid athletic events

$

25,053 12,679 15,859 5,098 58,689

Other, primarily auxiliary enterprises

Total unearned revenue

$

32