FY22 financial report print.indd
Virginia Tech Financial Report 2021-2022
Investments Measured at Fair Value including categorizaton of credit quality and interest rate risk Investments held on June 30, 2022 (all dollars in thousands) Credit Less than 1-5
Fair Value Measurement*
Rating
1 Year
Years
6/30/2022
Level 1
Level 2
Investments by fair value level U.S. Treasury and Agency securities (1)
N/A $
71,613 $
48,137 $
119,750 $
119,750 $
-
Debt securities Corporate bonds & notes Corporate bonds & notes Corporate bonds & notes Corporate bonds & notes Corporate bonds & notes Corporate bonds & notes Repurchase agreements Asset backed securities Asset backed securities Asset backed securities (2) Asset backed securities Federal agency securities Unsecured bonds and notes Mortgage backed securities Money market & mutual funds Money market funds
A1 A2 A3
5,378
15,145 21,156 11,933
20,523 33,420 23,987
- - - - - - - - - -
20,523 33,420 23,987
12,264 12,054
Aa2 Aa3 Aaa N/A
1,484
4,584 1,428 1,845
6,068 1,428 1,845 3,809
6,068 1,428 1,845 3,809
- -
3,809
-
A2
-
269
269
269
Aaa
16,492 17,024
35,569 16,581
52,061 33,605
52,061 33,605
AAA
NR
-
1,112
1,112
1,112
Aaa Aaa
147,669
25,332
173,001
- -
173,001
982
4,983
5,965
5,965
N/A N/A
169
- -
169
169
- -
Mutual funds
3,124
3,124
3,124
123,043 $
357,093
Total investments by fair value level
292,062
188,074
480,136 $
Investments measured at net asset value (NAV) Deposits with VTF
5,659
- - - -
5,659
Dairymen’s Equity w/o specific maturity
- -
63
Investments w/o specific maturities, held with VTF
507,932 513,654
Total investments measured at NAV
5,659
Investments not measured at fair value Money market funds
AAA-mf
47,936 16,888 64,824
- - -
47,936 16,888 64,824
Virginia SNAP® funds (2)
AAAm
Total investments not measured at fair value
$
362,545 $
188,074 $
1,058,614
Total investments
*Debt and equity securities classified in Level 1 of the fair value hierarchy are valued using prices quoted in active markets for those securities. Debt securities classified in Level 2 of the fair value hierarchy are valued using a matrix pricing technique. Matrix pricing is used to value securities based on the securities’ relationship to benchmark quoted prices.
(1) Credit quality ratings are not required for U.S. Government securities that are explicitly guaranteed by the U.S. Government. (2) Rating provided by S&P Global Ratings. All other ratings provided by Moody’s Investors Service Inc.
Moss Arts Center Photo by Ray Meese for Virginia Tech.
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Notes to Financial Statements
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