2010 annual report - Texas Southern University

TEXas SOUTHERN UNIVersitY FUNDINGFinanCIAL anaLYSIS OF TSUNet assets may serve over time as a useful indicator of TSU’s financial position. Assets exceed liabilities by$146,873,857 as of August 31, 2010. The largest portion of TSU’s net assets is its investment in capital assets at 56%.It is comprised of land, buildings and improvements, equipment, construction in progress and infrastructure, lessany debt used to acquire those assets that are still outstanding. TSU uses these capital assets to provide servicesto citizens; consequently, these assets are not available for future spending. Although TSU’s investment in itscapital assets is reported net of related debt, it should be noted that the resources needed to repay this debtmust be provided from other sources, since the assets themselves cannot be used to liquidate these liabilities.BALANCE SHEET for fiscal year ended August 31, 20102010 % of TOTALASSETSCash and Equivalents $ 46,619,540 14%Balance in Appropriations 10,960,026 3%Receivables 35,192,925 11%Investments 36,749,534 11%net Capital Assets 184,244,542 56%other Assets 14,904,593 5%Total Assets 328,671,159 100%LIABILITIESPayables 23,050,966 13%Deferred Revenue 42,259,357 23%revenue Bonds 86,812,825 48%General Obligation Bonds 23,732,380 13%accrued Claims and Judgment 810,000 0%other Liabilities 5,131,774 3%Total Liabilities $ 181,797,302 100%NET ASSETS $ 146,873,857Invested in Net Capital Assets 73,458,437 50%non-Expendable Endowments 30,964,292 21%other Restricted Assets 2,736,004 2%unrestricted Assets 39,715,124 27%TOTAL NET ASSETS $ 146,873,857 100%24