FY22 financial report print.indd
Virginia Tech Financial Report 2021-2022
7. Capital Assets A summary of changes to capital assets for the year ended June 30, 2022 (all dollars in thousands)
Beginning Balance (Restated)
Ending Balance
Additions
Retirements
Depreciable capital assets Buildings
$ 2,103,789 $
183,544 $
1,089 $ 2,286,244
Buildings - financed purchase
13,952 655,237 28,956 160,155 133,160 78,423 659
-
-
13,952 687,046 39,599 167,755 138,183 78,806 659
Moveable equipment
56,244 11,018 8,155
24,435
Capitalized software and other intangible assets
375 555
Fixed equipment
Fixed equipment - financed purchase
-
-
Infrastructure Library books
5,053
30
736
353
Right-to-use leases Land
3,805
465
-
4,270
Buildings Equipment
141,569
18,510
4,123
155,956
2,145
- -
- -
2,145
Infrastructure
181
181
Total depreciable capital assets, at cost
3,322,031
283,725
30,960
3,574,796
Less accumulated depreciation and amortization Buildings
738,328
55,632
1,087
792,873
Buildings - financed purchase
4,070
581
-
4,651
Moveable equipment
491,126 27,090 92,805 107,294 73,244 192
45,503 3,509 7,098
23,395
513,234 30,278 99,414 109,970 73,957 220
Capitalized software and other intangible assets
321 489
Fixed equipment
Fixed equipment - financed purchase
28
-
Infrastructure Library books
2,694 1,066
18
353
Right-to-use lease assets Land
182
195
-
377
Buildings Equipment
17,225
18,900
1,896
34,229 1,073
536
537
- -
Infrastructure
30
31
61
Total accumulated depreciation and amortization Total depreciable capital assets, net of accumulated depreciation and amortization
1,552,122
135,774
27,559
1,660,337
1,769,909
147,951
3,401
1,914,459
Non-depreciable capital assets Land Construction in progress Equipment in process Software in development Livestock
49,652
-
- -
49,652
230
97
327
286,600
212,838
193,113
306,325
6,087
7,775
5,386
8,476
98
422
79
441
Total non-depreciable capital assets
342,667
221,132
198,578
365,221
Total capital assets, net of accumulated deprecation and amortization
$
2,112,576 $
369,083 $
201,979 $
2,279,680
8. Accounts Payable and Accrued Liabilities Accounts payable and accrued liabilities at June 30, 2022, consist of the following (all dollars in thousands) : Accounts payable $ 51,744 Accounts payable, capital projects 27,780 Accrued salaries and wages payable 86,488 Retainage payable 9,158 Total current accounts payable and accrued liabilities $ 175,170 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, 2022 (all dollars in thousands) : Grants and contracts $ 33,788 Prepaid athletic tickets 11,902 Prepaid tuition and fees 10,490 Dining Services Meal Plans 1,360 Other auxiliary enterprises 4,679 Total unearned revenue $ 62,219
27
Notes to Financial Statements
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