FY22 financial report print.indd
Virginia Tech Financial Report 2021-2022
23. Appropriations The Appropriation Act specifies that unexpended general fund appropri ations remaining on the last day of the current year, ending on June 30, 2022, shall be reappropriated for expenditure in the first month of the next year, beginning on July 1, 2022, except as may be specifically provided otherwise by the Virginia General Assembly. The governor may, at his discretion, unallot funds from the reappropriated balances that relate to unexpended appropriations for payments to individuals, aid to localities, or any pass-through grants. Adjustments made to the university’s original appropriation during this fiscal year are as follows (all dollars in thousands) :
24. Deferred Outflows and Inflows of Resources Deferred Outflows of Resources Deferred outflows of resources are defined as the consumption of net assets applicable to a future reporting period. The deferred outflows of resources have a positive effect on net position, similar to assets. The composition of deferred outflows of resources on June 30, 2022, is summarized as follows (all dollars in thousands): Deferred loss on long-term debt defeasance (Note 14) $ 3,970 Deferred outflow for VRS pension (Note 18) 70,205 Deferred outflow for other postemployment benefits (Note 20) 34,425 $ 108,600 Deferred Inflows of Resources Deferred inflows of resources are defined as the acquisition of net assets applicable to a future reporting period. The deferred inflows of resources have a negative effect on net position, similar to liabilities. The composition of deferred inflows of resources on June 30, 2022, is summarized as follows (all dollars in thousands): Deferred gain on long-term debt defeasance (Note 14) $ 1,551 Deferred inflow for long-term leases 927 Deferred inflow for VRS pension (Note 18) 177,071 Deferred inflow for other postemployment benefits (Note 20) 82,529 $ 262,078
Original legislative appropriation (per Chapter 1 of the 2022 Special Session) Education and general programs Commonwealth Research Initiative and Federal Action Contingency Trust Student financial assistance
$
256,117 24,609
5,389 2,907
Unique military activities Total appropriation
289,022
Adjustments Education and general programs Tech talent investment program
14,634 12,957 8,918
Affordable access
Virginia management fellows program Virginia military survivors and dependents
312 255 321
Other adjustments
Total adjustments
37,397 326,419
Total adjusted appropriation
$
Capital Appropriations Capital project general fund appropriations were recognized by the uni versity from the commonwealth for the year ended June 30, 2022. During the year, $13,726,000 in capital appropriations have been allocated to E&G maintenance reserve projects.
25. Expenses by Natural Classification within Functional Classification The university’s operating expenses by functional classification for the year ended June30, 2022 (all dollars in thousands) Other
Sponsored Program Subcontracts
Scholarships
Compensation Contractual
Supplies and Materials
Operating Expenses
and
and Benefits
Services
Travel
Fellowships
Total
Instruction
$
398,856 $
21,968 $
8,341 $
10,104 $
5,036 $
217 $
1,649 $
446,171 351,448 93,219 112,578 30,117 81,346 84,638 45,279 258,107
Research
237,951 59,791 80,176 21,394 69,579 35,651
26,589 23,334 12,877
6,834 2,927 1,088 1,174
24,326
4,305 1,618 3,713 1,118 2,140
31,652
19,791
Public service
4,051
969
529 400 158 517
Academic support Student services Institutional support
11,125
3,199
3,878 6,829 5,381
1,668 1,264
727
984 449
33
Operations and maintenance Student financial assistance*
13,373
29,726
- -
58
327
24
5
7
60
44,856
Auxiliary enterprises
126,193
35,007
11,888
40,665
43,532
100
722
$ 1,029,918 $
135,887 $
33,690 $
106,583 $
91,248 $
36,897 $
68,680
Subtotal before other costs Depreciation and amortization
1,502,903
135,774
$ 1,638,667
Total operating expenses
*Includes loan administrative fees and collection costs.
51
Notes to Financial Statements
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