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