University of Oregon 2019 Annual Financial Report
Management's Discussion and Analysis
For the Year Ended June 30, 2019 (dollars in thousands)
Introduction
The following Management's Discussion and Analysis
(MD&A) provides an overview of the financial position
and activities of the University of Oregon for the fiscal
years ended June 30, 2019, 2018, and 2017. The UO's
primary campus is in Eugene, but programs are also
offered in Portland, at the Oregon Institute of Marine
Biology in Charleston, and at the Pine Mountain
Observatory outside of Bend, all in the state of Oregon.
Annual Full Time Equivalent (FTE) Student
Enrollment Summary
2019
2018
2017
2016
Annual FTE
22,811
22,964
23,358
23,596
2015
23,728
Understanding the Financial Statements
The MD&A is intended to foster a greater
understanding of the UO's financial activities. Since
this presentation includes summarized formats, it
should be read in conjunction with the financial
statements, which have the following six components:
The Report of Independent Auditors presents an
unmodified opinion rendered by an independent
certified public accounting firm, Moss Adams LLP, on
the fairness in presentation (in all material respects) of
the financial statements.
Statement of Net Position (SNP) presents a snapshot
of the UO's assets, deferred outflows of resources,
liabilities, deferred inflows of resources, and net
position under the accrual basis of accounting at the
end of each fiscal year presented. The SNP helps the
reader understand the types and amounts of assets
available to support operations, how much the UO
owes to vendors and bondholders, and the UO's net
position categorized by its status as restricted or
unrestricted. Changes in net position that occur over
time indicate improvement or decline in the UO's
financial condition.
Statement of Revenues, Expenses, and Changes in
Net Position (SRE) presents the UO's revenues and
expenses categorized among operating, nonoperating,
and other related activities. The SRE reports the UO's
results for each fiscal year presented.
Statement of Cash Flows (SCF) provides information
about the UO's sources (receipts) and uses (payments)
of cash during the fiscal year. The SCF classifies
sources and uses of cash into four categories, and
assists in determining whether the UO has the ability
to meet its obligations as they come due.
8 University of Oregon
Notes to the Financial Statements (Notes) provide
additional information to clarify and expand on the
financial statements.
The Component Unit, comprised of a supporting
foundation, the University of Oregon Foundation, is
discretely presented in the UO financial statements
and in Note 3. Cash and Investments and Note 18.
University Foundation.
The MD&A provides an objective analysis of the UO's
financial activities based on currently known facts,
decisions, and conditions. The MD&A discusses the
current results in comparison to the two previous fiscal
years. Unless otherwise stated, all years refer to the
fiscal year ended June 30.
Statement of Net Position
The term "Net Position" refers to the difference
between (a) combined assets and deferred outflows of
resources, and (b) combined liabilities and deferred
inflows of resources, and is an indicator of the UO's
current financial condition. Changes in net position
that occur over time indicate improvement or decline
in this condition. The following summarizes the UO's
assets and deferred outflows of resources, liabilities
and deferred inflows of resources, and net position:
Condensed Statement of Net Position
As of June 30,
Assets:
Current Assets
Noncurrent Assets.
Capital Assets, Net
Total Assets
Deferred Ouflows of Resources
Total Assets and Deferred Outflows
of Resources
Liabilities:
Current Liabilities
2019
2018
2017
$
294,952 $
255,558
1,611,084
2,161,594
285,087 $
240,081
1,517,455
2,042,623
321,703
151,767
1,478,446
1,951,916
120,312
112,209
154,389
2,281,906
2,154,832
2,106,305
246,738
1,075,603
1,322,341
206,804
1,095,192
1,301,996
202,110
1,029,169
1,231,279
3,286
2,720
Noncurrent Liabilities
Total Liabilities
Deferred Inflows of Resources
18,277
Net Investment in Capital Assets
Restricted Expendable
878,571
117,608
Unrestricted
(54,891)
941,288
797,111
87,799
(35,360)
849,550
787,970
76,196
8,140
872,306
Total Net Position
Total Liabilities, Deferred Inflows,
and Net Position
$
2,281,906 $ 2,154,832 $ 2,106,305
Total Assets and Liabilities
Total assets increased $118,972, or 6 percent, and total
liabilities increased $20,345 or 2 percent, during fiscal
year 2019. Total assets increased $90,707, or 5 percent,
and total liabilities increased $70,717, or 6 percent,
during fiscal
year 2018. At June 30, 2019, current assets
exceed current liabilities.View entire presentation