Annual Financial Report 2024 2025

Virginia Tech Financial Report 2024-2025

13. Detail of Long-term Indebtedness As of June 30, 2025

Unamortized Premium (Discount)

Principal Payable

Ending Balance

(all dollars in thousands)

Interest Rates

Maturity

Bonds Payable Revenue bonds - Section 9(d) Athletic system

Series 2025, issued $225 - refunding series 2015B

5.00% 2.15%

2035 $

225 $

36

$

261

Series 2021, issued $40

2036

40

- - - -

40

Series 2021, issued $21,825 - refunding 2012B note payable Series 2021, issued $7,055 - refunding 2010B note payable Series 2021, issued $6,075 - refunding 2016A note payable

0.83% - 2.55% 2041 0.83% - 2.55% 2041 0.83% - 2.55% 2041

19,680 6,360 5,475 31,780

19,680 6,360 5,475 31,816

Total athletic system

36

Dormitory and dining hall system

Series 2025, issued $28,400 - refunding series 2015A

5.00%

2035

28,400

3,042

31,442

Electric service utility system

Series 2025, issued $2,365 - refunding series 2015D

5.00%

2035

2,365

253

2,618

University services system Recreational Sports auxiliary

Series 2025, issued $1,735 - refunding series 2015C

5.00%

2035

1,735 64,280

186

1,921 67,797

Total revenue bonds

3,517

General obligation revenue bonds - Section 9(c) Dormitory and dining hall system

Series 2024B, issued $2,836 - refunding series 2013B Series 2024B, issued $1,294 - refunding series 2013B Series 2025B, issued $3,690 - refunding series 2015B Series 2016B, issued $24,200 - partial refunding series 2009B Series 2016B, issued $2,310 - partial refunding series 2009B

5.00% 5.00% 5.00%

2027 2027 2028

1,930

71 33

2,001

881

914

3,690 11,065 1,055 10,745 9,065 70,765 38,670 23,695 171,561

161

3,851 12,546 1,196 10,909 9,092 76,882 40,895 25,078 183,364

2.00% - 5.00% 2029 2.00% - 5.00% 2029 3.85% - 4.40% 2030 0.70% - 1.41% 2031 1.63% - 4.00% 2040 4.13% - 5.00% 2042 4.13% - 5.00% 2042

1,481

141 164

Series 2010A, issued $34,650

Series 2020B, issued $13,070 - refunding series 2011A

27

Series 2020A, issued $84,305 Series 2022A, issued $40,100 Series 2022A, issued $25,405

6,117 2,225 1,383 11,803

Total dormitory and dining hall system

Other nonsystem general obligation revenue bonds Parking facilities Series 2024B, issued $94 - refunding series 2013B Series 2025B, issued $315 - refunding series 2015B

5.00% 5.00%

2026 2028

47

1

48

315 225

14

329 228

Series 2010A, issued $745

3.85% - 4.40% 2030 2.00% - 5.00% 2034 4.13% - 5.00% 2052

3

Series 2016B, issued $18,890 - partial refunding series 2009B

12,725 29,375 42,687 214,248

1,215 1,170 2,403 14,206 17,723

13,940 30,545 45,090 228,454

Series 2022A, issued $29,375

Total other nonsystem general obligation revenue bonds

Total general obligation revenue bonds

$ 278,528 $

$ 296,251

Total bonds payable

Notes Payable

Dormitory and dining hall system

Series 2014B, issued $340 - partial refunding series 2005 Series 2021B, issued $795 - partial refunding series 2012A

4.00%

2026 $

205 $

3 -

$

208 430

0.77% - 0.94% 2028 5.00% - 5.50% 2031 2.00% - 3.00% 2033 4.00% - 5.00% 2039 2.50% - 2.60% 2041

430

Series 2010A, issued $9,650

3,745

131

3,876 1,055 9,939

Series 2021A, issued $980 - partial refunding series 2010A

980

75

Series 2018A, issued $11,505

9,150

789

Series 2021B, issued $845 - partial refunding series 2018A

845

-

845

Total dormitory and dining hall system

15,355

998

16,353

University services system

Center for the Arts auxiliary

Series 2010A, issued $19,445

5.00% - 5.60% 2036

10,915 1,530 13,750

278

11,193 1,573 13,752

Series 2021A, issued $1,530 - partial refunding series 2010A Series 2021B, issued $15,655 - refunding series 2011A Health Services and Recreational Sports auxiliaries Series 2015B, issued $800 - partial refunding series 2009A Series 2016A, issued $7,945 - partial refunding series 2009B Series 2016A, issued $2,780 - partial refunding series 2009B Series 2021B, issued $175 - partial refunding series 2015B Series 2021B, issued $1,510 - partial refunding series 2016A Series 2021B, issued $530 - partial refunding series 2016A

2.00%

2038

43

0.48% - 2.40% 2039

2

3.00% - 5.00% 2029 3.00% - 5.00% 2030 3.00% - 5.00% 2030 1.33% - 1.53% 2031 1.53% - 1.71% 2032 1.53% - 1.71% 2032 4.00% - 5.00% 2048

400

41

441

4,370 1,530

585 205

4,955 1,735

175

- - -

175

1,510

1,510

530

530

Series 2023A, issued $40,715 Total university services system

39,795 74,505

3,608 4,762

43,403 79,267

Other nonsystem notes payable Academic Building One in Alexandria, VA Series 2023A, issued $4,995

4.00% - 5.00% 2053

4,995

332

5,327

Boiler pollution controls Series 2016A, issued $375 - partial refunding series 2006A Series 2021B, issued $235 - partial refunding series 2014B

3.00%

2027

255 235

8 -

263 235

0.94% - 1.13% 2029

35