Cornell University 2011-2012 Annual Report - DFA Home - Cornell ...

CONSOLIDATED STATEMENT OF ACTIVITIES FOR THE YEAR-ENDED JUNE 30, 2012 (in thousands)(WITH SUMMARIZED INFORMATION FOR THE YEAR-ENDED JUNE 30, 2011)Operating revenuesUnrestrictedTemporarilyRestricted1 Tuition and fees $ 842,204$-2 Scholarship allowance (333,873) -3 Net tuition and fees 508,331 -4 State and federal appropriations 150,469 -5 Grants, contracts and similar agreements6 Direct 457,454 -7 Indirect cost recoveries 147,277 -8 Contributions 65,426 272,9429 Investment return, distributed 212,110 86,05410 Medical Physician Organization 679,938 -11 Auxiliary enterprises 153,408 -12 Educational activities and other sales and services 428,563 -13 Net assets released from restrictions 153,869 (153,869)14 Total operating revenues 2,956,845 205,127Operating expenses (note 10)15 Compensation and benefits 1,938,620 -16 Purchased services 142,002 -17 Supplies and general 637,050 -18 Utilities, rents and taxes 107,734 -19 Interest expense (note 8) 86,201 -20 Depreciation 203,587 -21 Total operating expenses 3,115,194 -22 Change in net assets from operating activities (158,349) 205,127Nonoperating revenues and (expenses)23 State appropriations for capital acquisitions 61,089 -24 Contributions for capital acquisitions, trusts and endowments 931 172,16025 Investment return, net of amount distributed (112,510) (153,636)26 Change in value of split interest agreements 3,857 (3,801)27 Pension and postretirement changes other than net periodic costs (note 6-C) 2,727 -28 Change in value of interest rate swaps (166,496) -29 Other (5,241) -30 Net asset released for capital acquisitions and reclassifications 32,017 (35,871)31 Change in net assets from nonoperating activities (183,626) (21,148)32 Change in net assets (341,975) 183,97933 Net assets, beginning of the year 2,751,527 2,432,37634 Net assets, end of the year $ 2,409,552$ 2,616,355The accompanying notes are an integral part of the consolidated financial statements.10