FY22 financial report print.indd

Virginia Tech Financial Report 2021-2022

Consolidating Schedule of Revenues, Expenses, and Changes in Net Position As of June 30, 2022 (all dollars in thousands) Current Funds Loan

Endowment & Plant

Unrestricted Restricted

Funds

Similar Funds

Funds

Total

Operating revenues Student tuition and fees (Note 1)

$ 611,497 $

(475) $

- $

- $

- $ 611,022

Federal appropriations

-

15,612 190,031 18,287 15,542 47,455

- - - - - - -

- - - - - - -

-

15,612 251,890 19,605 15,946 59,476 29,161 299,676

Federal grants and contracts State grants and contracts Local grants and contracts (Note 3)

61,305

554

1,318

- - - - - -

404

Nongovernmental grants and contracts Sales and services of educational departments

12,021 29,129 299,625

32 51

Auxiliary enterprise revenue (Note 1)

Other operating revenues Total operating revenues

5,528

3,428

72 72

229 229

9,257

1,020,827

289,963

554

1,311,645

Operating expenses Instruction

439,741 120,592 48,947 104,003 28,827 70,540 74,555 11,305 258,271

6,430

- - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - -

446,171 351,448 93,219 112,578 30,117 81,346 84,638 45,279 258,107 135,774

Research

230,856 44,272

Public service

Academic support Student services Institutional support

8,575 1,290

10,806

Operation and maintenance of plant

(75)

10,158

Student financial assistance

33,924

50

- -

Auxiliary enterprises

(164)

- -

Depreciation and amortization (Note 7)

-

-

135,774 145,932

Total operating expenses

1,156,781

335,914

50

1,638,677

Operating income (loss)

(135,954)

(45,951)

22

229

(145,378)

(327,032)

Non-operating revenues (expenses) State appropriations (Note 23)

292,653 20,262

33,766 58,512 53,115

-

- - - - -

326,419 78,702 53,139

Gifts

(72)

Coronavirus relief funds

24

- - - - - - -

Non-operating grants and contracts Federal student financial aid (Pell)

- -

2,421

2,421

22,722

22,722

Investment income, net

(22,792)

(223)

(3,952)

(10,537) (10,118)

(37,504) (10,922) (5,757)

Interest expense on debt related to capital assets

(804)

-

Interest expense on long-term leases

(5,590)

(167)

-

Other non-operating revenue

5,857

464

624

6,945

Net non-operating revenues (expenses)

289,610

170,610

(72)

(3,952)

(20,031)

436,165

Income (loss) before other revenues, expenses, gains, or losses

153,656

124,659

(50)

(3,723)

(165,409)

109,133

Capital appropriations (Note 23) Capital grants and gifts (Note 10) Gain on disposal of capital assets

-

-

- - - -

- - - -

13,726 160,713

13,726 180,756

17,756

2,287

8

-

5,250

5,258

Total other revenues, expenses, gains, and losses

17,764

2,287

179,689

199,740

Increase in net position

171,420

126,946

(50)

(3,723)

14,280

308,873

Mandatory transfers

(41,809) (51,847) (44,429)

(554)

-

-

42,363 83,109 52,478

- - - - -

Nonmandatory transfers

(28,380) (8,049) (84,948) (121,931)

(355)

(2,527)

Equipment and library book transfers

- -

- -

Scholarship allowance transfer

84,948

-

Total transfers

(53,137)

(355)

(2,527)

177,950

Increase (decrease) in net position after transfers

118,283

5,015

(405)

(6,250)

192,230

308,873

Net position - beginning of year (restated) (Note 1)

42,144

87,559

3,429

74,245

1,607,692

1,815,069

Net position - end of year

$ 160,427 $ 92,574 $

3,024 $

67,995 $ 1,799,922 $ 2,123,942

69

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