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