A/P & Accrued Expenses 14, , , ,376 (39,775) (2,106) (2,040) (11,350) (28,726) (16,000) {f} 0 {l} 0 {q} (400) {q}

Transcription

1 Yearended 5/31/12 Statement of Cash Flows x Cash Restricted Cash Account Contribution Loan Other PRIOR YEAR BALANCE 11, 7, 25, 1, 5,826 CASH FLOW FROM OPERATING ACTIVITIES: Increase/(Decrease) in net assets before change in accounting principle 14,992 Adjust to reconcile increase in net assets to net cash used in operating activities Depreciation 16, Accretion of asset retirement obligation (5) Amortization of prepaid bond costs (2,) Amortization of lease intangibles 4 Provision for bad debt 57 (6) {m} 3 {h} Discount on contribution receivable (1) 1 {h} Forgiveness of employee notes 15 (15) {n} Net realized and unrealized (gains)/losses on investments 1,5 Change in value of split interest agreements 1,1 Change in (benefit) liability under interest rate swap 9,419 Gain on extiguishment of debt (Gain)/Loss on disposal of assets (22) Contributions restricted for investment in endowment and plant (5,1) Distributions of interest in trust 2 Gifts in kind/equipment donations Gifts of real estate and investments (1,2) Changes in: accounts receivable (31) 31 {k} Contributions receivable (3,1) 3,1 {h} Other receivables (2,195) 2,195 {k} Prepaid expenses and other assets 194 Accounts Payable and Accrued Liabilities (1,51) Asset Retirement Obligation Liability under split interest agreements (52) Deferred revenues 787 Net cash (used in) provided by Operating Activities 37,584 CASH FLOW FROM INVESTING ACTIVITIES: Acquisition of property, plant, and equipment (82,6) Proceeds from disposal of assets 22 Proceeds from sales of investments 61,2 Purchases of investments (52,95) Restricted cash deposits {k} Proceeds from (issuance of) student loans (1,2) 1,2 {a} loan repayments 1,7 (1,7) {a} Issuance of employee notes (155) 155 {n} Employee notes repayments 2 (2) {n} Net cash (used in) provided by Investing Activities (73,585) CASH FLOW FROM FINANCING ACTIVITIES: Proceeds from LOC Payments on LOC Proceeds from issuance of bonds payable Proceeds from issuance of notes payable 3, Payments on bonds payable (3,) Payments on notes payable Premium on Bonds Payable Debt issuance costs (63) Contributions restricted for investment in endowment and plant 5,1 Net change in federal student loan funds 199 Net cash (used in) provided by Financing Activities 32,236 Net (decrease)increase in Cash and Cash Equivalents (3,765) Cash and Cash EquivalentsBeginning of year 11, Cash and Cash EquivalentsEnd of year 16,235 Supplemental disclosure of cash flow infointerest paid Supplemental disclosure of noncash investing activities: Accrued acquisition of property, plant, and equipment Cumulative effects on prior years due to change in accounting principles: Valuation of real estate held for investment Valuation of asset retirement obligation Addition to property related to asset retirement obligation 5/31/212 EXPECTED YEAREND BALANCE 16,235 6,71 28,23 9,5 7,826 5/31/212 YEAR END BALANCE 16,235 6,71 28,23 9,5 7,826 Difference Supplemental Disclosure of Cashflow Information Interest Paid 8,716 {l} Supplemental Disclosure of Cashflow Information Accrued additions to PPE 3,9 {e}

2 x Beneficial Interest in Trusts x Investments and Restricted Investments Benefit Under Interest Rate Swaps Prepaids & Other Assets PP&E A/P & Accrued Expenses Other Liabilities (Assets Retirement Obligation) Liability Under Split Interest Agreement Liability Under Interest Rate Swaps Deferred Revenue 14, 24, 7, ,376 (39,775) (2,16) (2,4) (11,35) (28,726) (16,) {f} {l} {q} (4) {q} 5 {j} (5) {c} (1,) {b} (4) {c} (7) {b} {k} (9,419) {k} 22 {e} 2,6 {g} 2,5 {g} (1) {c} (1) {b} {e} 7 {c} 5 {b} (194) {k} 1,51 {k} 52 {k} (787) (61,2) {b} 52,95 {b} 1,3 {q} 82,8 {e} (1,5) {q} (22) {e} 63 {l} (2,6) {g} (2,5) {g} 1,2 {e} (1,2) {e} 14,15 221,45 8,84 393,376 (41,365) (1,66) (1,988) (2,769) (29,513) 14,15 221,45 8,84 393,376 (41,365) (1,66) (1,988) (2,769) (29,513)

3 Federal Loans Line of Credit Bonds Payable Notes Payable Net Assets Check (1,7) (16,) (49,833) (14,992) {k} 2, {p} {d} {k} {o} {o} {p} (3,) {d} 3, {p} {d} (199) {k} (1,26) (155,) (3,) (55,825) (1,26) (155,) (3,) (55,825)

4 Tickmarks {a} The student loan payments consist of the following: Rollforward of Loans Balance 5/31/211 1, Add: New loans awarded 1,2 Less: Loan repayments (1,4) Less: Change in allowance (1) Less: Cancellations (2) Balance 5/31/212 9,5 Balance 5/31/212 RPT 9,5 check {b} Total investment activity consists of the following: Rollforward of Investments Balance 5/31/211 24, Trust PY Cash Balance 2 Add: Purchases 5, Trust CY Cash Balance 25 Trust Net xfr to Cash (5) Add: Gifts of stock/real estate Trustee 5 Add: Interest/Dividends & Distribution 2,95 Add: Distribution of Int/Div/Real Gain (5,8) Less: Xfr from Invests to Cash/CashEqu (2,4) Less: Distributions of Trusts (1) Add: Increase in appreciation/gains (1,) Add: Change in value of trusts (7) Less: Sales (53,) Balance 5/31/ ,45 Balance 5/31/212 RPT 221,45 {c} Total Beneficial Interest in Trust Activity consists of the following: Rollforward of Beneficial Interest in Trusts Balance 5/31/211 14, Gifts of Real Estate/Investments 7 Distributions (1) Add/(Less): Change in value of trusts (4) Gains/(Losses) on Outside Trusts (5) Balance 5/31/212 14,15 Balance 5/31/211 RPT 14,15 {d} Total notes payable activity consists of the following: Rollforward of longterm debt Balance 5/31/211 Add: New borrowings (3,) Less: Principal payments Add: Premium on New Loan Less: Amort of Premium on New Loan Balance 5/31/212 (3,) Balance 5/31/212 RPT (3,) {e} See below for a rollforward of fixed assets: Rollforward of fixed assets Balance 5/31/ ,23 Total Cap Interest 5 Add: Plant additions 84, Total Additions 83,5 Add: Gifts in Kind capitalized 84, Add: Post Close JV Plant Additions Less: FY12 Adjustment to PPE Less: Disposals (2,23) Balance 5/31/212 53, Total Cash Plant Additions Balance 5/31/212 RPT 53, 84, Less: CY Accrued CIP (3,9) Add: PY Accrued CIP 2,7 Total Cash Plant Additions 82,8 Gain/(Loss) on Disposal of Asset Acct # Change Accr CIP (1,2) {f} See below for the current year depreciation: Change in Depreciation: Accum. Dep. Balance 5/31/211 (14,647) Add: Depreciation Exp (16,) Less: Disposals 1,647 Balance 5/31/211 (155,) Balance 5/31/211 RPT (155,) () {g} See below for the current year contributions used for longterm purposes: Contributions to be used for longterm purposes: Plant fund gifts 2,5 Endowment Gifts 2,6 Balance 5/31/212 5,1 {h} Contribution Rollforward from General Ledger: Rollforward of Contributions Balance 5/31/211 25, Change in Pledge Balance (2,9) Change in Bquest Bal 6, Less: Change in Discount 1 Less: Change in Allowance 3 Balance 5/31/212 28,23 Balance 5/31/212 RPT 28,23 {i}

5 {j} See below for the current year ARO activity: ARO Accretion in CY 4 ARO Retirement in CY (9) (5) {k} Amount is mathematically derived as the change in account balance at 5/31/212. {l} Actual cash paid for interest is displayed on the statement of cashflows as follows: Interest Expense 4,4, Letter of Credit Fees 5, Prepaid Bond Expense Amortization SWAP Fixed Interest Expense 2,9, SWAP LIBOR Interest Expense (13,) Miscellaneous Bond Expenses 146, Total Interest Expense 7,816, Rounded Total Interest Expense 7,816 Less: CY Accrued Interest (1,1) Add: PY Accrued Interest 1,5 Add: Capitalized Interest 5 {e} Total Cash Paid for Interest 8,716 Total FY12 Prepaid Cost of Issuance 63 {m} Bad Debt Expense for the Year FY12 FY11 Bad Debt Expense 6 8 [6] {n} Employee notes are typically issued every year. As these are loans provided to employees, and per review of FAS 95, loans issued must be shown as an investing activity. Further, note that many of the loans are not repayed but, rather, the loan agreement states that a portion will be forgiven over a certain set period of the loans life. See below for breakout of employee note amounts. Employee Notes (1661 & 16621) Beg Bal 2,145 CY Notes & Interest Added 155 CY Notes & Interest Repaid (2) CY Forgiveness (15) Employee notes Ending Balance 1,95 {o} Total LineofCredit activity consists of the following: Rollforward of shortterm debt Balance 5/31/211 Add: drawdowns Less: Principal payments Balance 5/31/212 Balance 5/31/212 RPT {p} Total bonds payable activity consists of the following: Rollforward of longterm debt Balance 5/31/211 (16,) Add: New borrowings Less: Principal payments 3, Add: Premium on New Loan Less: Amort of Premium on New Loan 2, Balance 5/31/212 (155,) Balance 5/31/212 RPT (155,) {q} Amortization of lease intangible assets and liabilities (belowmarket leases, leases in place, etc). Rollforward of Leashold Assets Balance 5/31/211 Leasehold Assets Additions 1,3 Leasehold Assets Depreciation Balance 5/31/212 1,3 Rollforward of Leashold Liabilities Balance 5/31/211 Leasehold Liabilities Additions (1,5) Leasehold Liabilities Amortization 4 Balance 5/31/212 (1,1)