University of Oregon 2019 Annual Financial Report
Management's Discussion and Analysis
For the Year Ended June 30, 2019 (dollars in thousands)
Deferred outflows decreased by $42,180, or 27
percent, and deferred inflows increased by $566, or 21
percent, primarily due to the impacts of Governmental
Accounting Standards Board (GASB) Statement No.
68, Accounting and Financial Reporting for Pensions-
An Amendment of GASB Statement No. 27 and GASB
Statement No. 75, Accounting and Financial Reporting
for Postemployment Benefits Other Than Pensions.
Refer to Notes 13. Employee Retirement Plans, 14.
Other Postemployment Benefits, and the Required
Supplementary Information for additional information.
Total Net Position
As illustrated by the following graph, the makeup of
net position changed between fiscal years 2019, 2018,
and 2017.
$1,000,000
$800,000
$600,000
$400,000
$200,000
$0
-$200,000
2019
2018
2017
Restricted-
Expendable
Unrestricted
Net Investme
Capital Asset
Comparison of fiscal year 2019 to fiscal year 2018
⚫ Net investment in capital assets increased $81,460,
or 10 percent.
• Restricted expendable net position increased by
$29,809, or 34 percent. Net position relating to the
funding of capital projects increased by $49,297,
or 99 percent, as a result of a number of new
construction and improvement projects in fiscal year
2019, which was offset by a decrease in student loan
net position of $18,226, or 70 percent, related to
termination of the Perkins loan program.
•
Unrestricted net position decreased $19,531, or 55
percent.
Comparison of fiscal year 2018 to fiscal year 2017
⚫ Net investment in capital assets increased $9,141 or
1 percent.
•
Restricted expendable net position increased by
$11,603, or 15 percent. Net position relating to the
funding of capital projects increased by $6,661, or 15
percent, as a result of a number of new construction
and improvement projects in fiscal year 2018.
⚫ Unrestricted net position decreased $43,500, or 534
percent primarily due to the impact of GASB 68 and
GASB 75.
Statement of Revenues, Expenses, and
Changes in Net Position (SRE)
Due to the classification of certain revenues as
nonoperating revenue, the UO shows a net operating
loss. State general fund appropriations, nonexchange
grants, and noncapital gifts, although considered
nonoperating revenue under GASB Statement No.
35, Basic Financial Statements-and Management's
Discussion and Analysis—for Public Colleges and
Universities-An Amendment of GASB Statement No.
34 and reflected accordingly in the nonoperating section
of the SRE, are used solely for operating purposes.
The following summarizes the revenue and expense
activity of the UO:
Condensed Statement of Revenues, Expenses, and
Changes in Net Position
For the Year Ended June 30,
Operating Revenues
Operating Expenses
Operating Loss
2017
2019
2018
$ 744,160
967,829
(223,669)
$ 740,103
955,367
(215,264)
$ 713,691
920,938
(207,247)
Nonoperating Revenues,
Net of Expenses
191,492
158,757
161,034
Capital Additions and Special Items
123,915
48,355
Increase (Decrease) in Net Position
91,738
(8,152)
78,112
31,899
849,550
872,306
840,407
(14,604)
849,550
857,702
$ 941,288
$ 849,550
Net Position, Beginning of Year
Adjustments to Beginning Net Position
Net Position, Beginning of Year (Restated)
Net Position, End of Year
840,407
$ 872,306
For fiscal year 2019, net position increased by $91,738,
or 11 percent, to $941,288. For fiscal year 2018,
net position decreased by $22,756, or 3 percent, to
$849,550.
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