UNIVERSITY OF RICHMOND
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED JUNE 30, 2002
CASH FLOWS FROM OPERATING ACTIVITIES:
Change in net assets
Adjustments to reconcile change in net assets to net cash
provided by operating activities:
Depreciation
Increase in funds held in trust
Decrease in receivables
Increase in pledges receivable
Increase in notes receivable
Increase in inventories, prepaid expenses & other
Increase in accounts payable & accrued liabilities
Increase in annuities payable
Increase in postretirement benefits
Decrease in deferred income
Net unrealized and realized losses on investments and funds held in trust
Contributions restricted for endowment
Gifts of property
Net cash provided by operating activities
CASH FLOWS FROM INVESTING ACTIVITIES:
Sales of investments
Purchases of investments
Purchases of property, plant and equipment
Net cash used in investing activities
CASH FLOWS FROM FINANCING ACTIVITIES:
Contributions restricted for endowment
Increase in U.S. government grants refundable
Proceeds from bank loan
Proceeds from notes issued
Refunding of notes payable
($101,053,939)
9,851,682
(517,754)
2,336,718
(6,046,688)
(120,552)
(168,685)
768,386
467,888
107,460
(48,456)
139,834,107
(4,699,551)
(12,890,000)
$27,820,616
317,806,746
(372,743,396)
(20,439,866)
($75,376,516)
4,699,551
119,246
8,000,000
22,170,000
(8,770,000)
Net cash provided by financing activities
$26,218,797
Net decrease in cash and cash equivalents
(21,337,103)
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year
90,968,002
$69,630,899
Supplemental disclosure:
Cash paid for interest on notes payable
Donated property
The Notes to Financial Statements are an integral part of this statement.
$2,133,402
12,890,000