University of Oregon 2019 Annual Financial Report
Principal
Amount
EUR
€
10
$
13
7/5/2018
EUR
200
266
7/5/2018
EUR
200
268
7/5/2018
Maturity Contract
Date
Rate
9/30/2019 $ 1.3215
12/31/2019 1.3318
3/13/2020
Fair
Value Adj
$
1.3400
EUR
1,000
1,242
EUR
350
437
EUR
250
315
9/4/2019
1/2/2020
7/1/2019 6/30/2020
9/1/2020
12/17/2020 1.2588
1.2415
(2)
(39)
(41)
(105)
1.2480
$
2,541
$
(31)
(257)
GBP
£
68
$
100
GBP
150
221
GBP
1,000
1,340
7/5/2018
7/5/2018
7/1/2019
12/31/2019 $ 1.4716 $
3/13/2020 1.4766
6/30/2020
(14)
(31)
1.3400
(71)
GBP
500
672
9/3/2019
9/1/2020
1.3433
(37)
GBP
350
472
1/2/2020 12/17/2020
1.3499
$ 2,805
$
(28)
(181)
June 30, 2018
Principal
Amount
Effective
Date
EUR
500
$
655
7/3/2017
Maturity Contract
Date
Rate
6/28/2019 $ 1.3107
Fair
Value Adj
EUR
200
264
11/24/2017
9/30/2019
1.3215
EUR
200
266
10/2/2017 12/31/2019
1.3318.
(33)
Notes to the Financial Statements
For the Year Ended June 30, 2019 (dollars in thousands)
State treasury deposits are in US currency and
therefore not exposed to foreign currency risk.
To mitigate foreign currency risks for prospective
study abroad activities, the UO periodically enters into
foreign currency forward contracts. At June 30, 2019
and 2018, respectively, these contracts totaled $5,346
and $3,826 and had a net fair value loss of $438 and
$289. The net fair value loss is reported as deferred
outflows on the SNP.
Notional
Currency Amount
Notional
Currency Amount
€
June 30, 2019
Effective
Date
(39)
$ (71)
(31)
adhere to applicable laws and assets are managed as a
prudent investor would do, exercising reasonable care,
skill, and caution. The UO manages investments as a
part of its overall cash and investment pool, which is
designed to provide adequate liquidity to meet the cash
needs of the UO.
Because of the level of risk associated with certain
investment securities, it is possible that changes in
the values of investment securities could occur in the
near term and such changes might affect the amounts
reported in the SNP.
Significant events in domestic and international
investment markets, or actions by the Federal Open
Market Committee to influence both short- and long-
term interest rates, contribute to price volatility.
Consequently, the fair value of the UO's investments
is exposed to price volatility, which could result in a
change in the fair value of certain investments from the
amounts reported as of June 30, 2019.
As of June 30, 2019, the UO's total investments
consisted of $76,616 in fixed income investments,
plus $79,334 invested in all other investments. As of
June 30, 2018, the UO's total investments consisted
of $66,581 in fixed income investments, plus $69,326
invested in all other investments.
EUR
200
268
10/2/2017 3/13/2020
1.3400
(34)
EUR
200
233
11/24/2017 4/30/2019
1.1650
1
2019 Investment Type
EUR
93
107
11/24/2017 9/28/2018
1.1400
3
EUR
200
$
232
2,025
5/1/2018 12/31/2018
1.1600
2
Fair Value
% of Total
Investments
$
(163)
US Government Notes & Bonds
$
12,820
8
GBP
£
150
$
219
GBP
150
220
5/1/2018 6/28/2019 $ 1.4589 $
3/16/2018 9/30/2019 1.4654
(21)
US Government Agency Issues
12,154
8
(22)
GBP
150
221
3/16/2018 12/31/2019
1.4716
(23)
Corporate Notes
Asset-Backed Securities
23,224
15
12,196
8
GBP
150
221
3/16/2018 3/13/2020
1.4766
(23)
Foreign Issues
15,603
10
GBP
125
171
3/16/2018 4/30/2019
1.3650
(6)
GBP
41
56
3/16/2018 9/28/2018
1.3767
(2)
Municipal Issues
150
0
GBP
200
276
GBP
228
316
GBP
75
$
101
1,801
3/16/2018
3/16/2018 3/29/2019
3/16/2018 12/31/2018
12/31/2018
1.3813
(12)
Accrued Income
469
0
1.3858
(15)
Fixed Income Investments
76,616
49
1.3475
(2)
$ (126)
Stocks and Equity Investments
Other Deposits
As of June 30, 2019 and 2018, the UO had vault and
petty cash balances of $347 and $198, respectively. In
addition, the UO had small amounts of cash relating to
debt issuances invested with a fiscal agent.
B. Investments
The UO funds are invested by the university's treasurer
through the university's treasury operations division.
Treasury activities are governed by the BOT-approved
treasury management policy and its accompanying
procedures. In addition, the UO's investment policies
Total Investments
Partnerships/Alternative Equity
T3 Investment Pool
194
3,636
75,504
48
79,334
51
$
155,950
100
020
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