|
5. Investments
Investments (amounts expressed in thousands) as of June 30,1979 consisted of:
|
|
|
|
|
Funds
|
|
|
|
|
|
|
|
|
Higher Education
|
|
|
|
|
Special
|
Debt
|
Other
|
and University
|
Fiduciary
|
|
|
General
|
Revenue
|
Service
|
Enterprise
|
Hospital
|
Fund Type
|
|
U. S. Treasury and agency obligations
|
$25,860
|
$31,068
|
$125,054
|
$ 45,478
|
$ 9,937
|
$ 368,133
|
|
Certificates of deposit .........................
|
37,885
|
|
|
39,375
|
2,568
|
|
|
Commercial paper............................
|
|
|
|
|
1,196
|
367,939
|
|
Corporate debt securities ......................
|
|
|
|
|
1,629
|
1,154,229
|
|
Corporate equity securities .....................
|
|
|
|
|
7,156
|
701,290
|
|
Annuity contracts ............................
|
|
|
|
17,399
|
|
35,661
|
|
Other ......................................
|
|
|
|
30,791
|
2,682
|
99,268
|
|
Total ......................................
|
$63,745
|
$31,068
|
$125,054
|
$133,043
|
$25,168
|
$2,726,520
|
Principally all assets of the Higher Education endowment and similar funds are pooled on a market value
basis. Each fund subscribes to or disposes of units on the basis of the per-unit market value at the beginning of
the calendar quarter within which the transaction takes place. At June 30,1979, the fund consisted of 151,425
units, each unit having a market value of $103.56.
The following tabulation summarizes changes in the relationship between cost and market of the pooled
net assets (amounts expressed in thousands) and the change in market value per unit for the year ended June
30, 1979:
|
|
Pooled
|
Net Assets
|
Excess of
|
Market
|
|
|
|
|
Market
|
Value
|
|
|
Market
|
Cost
|
over Cost
|
Per Unit
|
|
End of year ............................................
|
....... $15,682
|
$13,498
|
$2,184
|
$103.56
|
|
Beginning of year .......................................
|
....... 14,480
|
13,604
|
876
|
97.19
|
|
Unrealized net market appreciation for year .................
|
|
|
1,308
|
|
|
Realized net (losses) for year ..............................
|
|
|
(611)
|
|
|
Total change in excess of market over cost for year ............
|
|
|
$ 697
|
$ 6.37
|
6. Taxes Receivable
Taxes receivable (amounts expressed in thousands) as of June 30, 1979 consisted of the following:
|
|
|
Funds
|
|
|
|
|
Special
|
Debt
|
|
|
General
|
Revenue
|
Service
|
|
Income taxes, current employee withholdings held by employers .........
|
$107,591
|
|
|
|
Retail sales and use taxes, current taxes held by collectors .............
|
62,175
|
|
|
|
Other taxes ....................................................
|
3,253
|
$17,357
|
$3,945
|
|
Total ..........................................................
|
$173,019
|
$17,357
|
$3,945
|
7. Other Accounts Receivable
Other accounts receivable (amounts expressed in thousands) as of June 30,1979 consisted of the following:
|
|
|
|
|
Funds
|
|
|
|
|
General
|
Special
Revenue
|
Capital
Projects
|
Other
Enterprise
|
Higher Education and
University Hospital
|
Fiduciary
Fund Type
|
|
Contributions ..............................
|
|
|
|
|
|
$115,193
|
|
Grants and contracts — current restricted funds. . .
|
|
|
|
|
$10,713
|
|
|
Student tuition and fees ......................
|
|
|
|
|
7,559
|
|
|
Hospital patient services .....................
|
. $10,290
|
|
|
|
26,172
|
|
|
Miscellaneous ..............................
|
23,550
|
$6,096
|
$1,583
|
$9,217
|
1,362
|
19,752
|
|
|
33,840
|
6,096
|
1,583
|
9,217
|
45,806
|
134,945
|
|
Less allowance for doubtful accounts ...........
|
2,022
|
995
|
|
|
9,781
|
26,012
|
|
Other accounts receivable, net.................
|
$31,818
|
$5,101
|
$1,583
|
$9,217
|
$36,025
|
$108,933
|
17
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