UNIVERSITY OF NORTHERN IOWA
CEDAR FALLS, IOWA 50614
GENERAL INFORMATION FOR BOND RATING AGENCIES
As of
December 31, 2015
Dr. William Ruud
President
(319) 273-2566
Michael Hager, D.B.A
Senior Vice President for Finance and Operations
(319) 273-2382
Gary B. Shontz
Controller, University Secretary and Treasurer
(319) 273-3576
Table of Contents
Ten Year Headcount Enrollment Data
Ten Year Full-Time Equivalent (FTE) Enrollment Data
Ten Year Headcount Enrollment Projections
Freshmen Class Data
Graduate Student Data
Transfer Student Data
Geographical Distribution of Students
Full-Time/Part-Time Split of Students on a Headcount Basis
Four, Five and Six Year Graduation Percentages
Cost of Tuition and Mandatory Fees Per Academic Year
Residence System Data
Grants and Contracts Expenditures
Academic Building Revenue Bonds Issued and Outstanding
Academic Building Revenue Bonds Retired
Academic Building Revenue Bonds Tuition to Debt Service
Long-Term Debt - Residence System
Long-Term Debt - Field House
Long-Term Debt - Student Union
Long-Term Debt - Student Health System
Annual Debt Service Requirements - All Bond Issues
Annual Debt Service Requirements - All Notes Payable
Statement of Net Position
Statement of Revenues, Expenses and Changes In Net Position
Statement of Cash Flows
Staff Statistics
Highest Degrees Held by Faculty and Appointment Status
Collective Bargaining Representation
Retirement Programs
Schedule of State Appropriations
UNI Foundation - Statements of Financial Position
UNI Foundation - Statements of Activities Current Year
UNI Foundation - Statements of Activities Prior Year
UNI Foundation - Statements of Activities and Statements of Financial Position Ten Years
UNI Foundation Analysis of Alumni Giving
Endowment Statistics
Pell Grant Revenue
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24-25
26
27
28
29
30
31
32
33
34
35
36
37
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Ten Year Headcount Enrollment Data
Fall 2006 Through Fall 2015
Student Level
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
Lower Division
4,427
4,719
4,865
4,841
4,780
4,961
4,329
4,149
4,235
4,342
Upper Division
6,275
6,291
6,182
6,453
6,611
6,446
6,326
6,231
5,907
5,827
Total Undergraduate
10,702
11,010
11,047
11,294
11,391
11,407
10,655
10,380
10,142
10,169
1,113
1,157
1,372
1,301
1,291
1,237
1,161
1,283
1,195
1,247
445
442
489
485
519
524
457
496
114
100
Masters
Doctoral
Professional
NA
NA
NA
NA
NA
NA
NA
NA
Non-degree
-
-
-
-
-
-
-
-
477
465
12,260
12,609
12,908
13,080
13,201
13,168
12,273
12,159
11,928
11,981
Totals
1
NA
NA
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Ten Year Full-Time Equivalent (FTE) Enrollment Data
Fall 2006 Through Fall 2015
Student Level
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
Lower Division
3,991
4,207
4,440
4,374
4,315
4,152
3,944
3,744
3,794
3,902
Upper Division
5,632
5,649
5,573
5,829
5,986
5,903
5,686
5,599
5,325
5,249
Total Undergraduate
9,623
9,856
10,013
10,203
10,301
10,055
9,630
9,343
9,119
9,151
Masters
945
998
1,080
1,098
1,076
1,046
977
991
921
944
Doctoral
267
253
272
270
304
292
266
282
52
44
NA
NA
Professional
NA
NA
NA
NA
NA
NA
NA
NA
Non-degree
-
-
-
-
-
-
-
-
219
206
10,835
11,107
11,365
11,571
11,681
11,393
10,873
10,616
10,311
10,345
Totals
2
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Ten Year Headcount Enrollment Projections
Fall 2016 Through Fall 2025 (with Fall 2015 Actual)
Student Level
Actual
2015
Lower Division
4,342
4,722
4,815
4,862
4,912
4,936
4,947
4,972
5,008
5,094
5,131
Upper Division
5,827
5,513
5,538
5,638
5,731
5,797
5,859
5,899
5,922
5,956
5,981
Total Undergraduate
10,169
10,235
10,353
10,500
10,643
10,733
10,806
10,871
10,930
11,050
11,112
1,247
1,247
1,257
1,277
1,304
1,329
1,329
1,329
1,329
1,329
1,329
100
100
105
107
108
111
111
111
111
111
111
Masters
Doctoral
Professional
Non-degree
Totals
NA
2016
NA
2017
NA
2018
NA
2019
NA
2020
NA
2021
NA
2022
NA
2023
NA
2024
NA
2025
NA
465
463
473
485
493
501
501
501
501
501
501
11,981
12,045
12,188
12,369
12,548
12,674
12,747
12,812
12,871
12,991
13,053
3
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Freshmen Class Data
Fall 2006 Through Fall 2015
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
Number of Freshmen
Applications
4,585
4,722
4,584
4,133
4,092
4,666
4,322
4,109
5,504
5,393
Number of Freshmen
Accepted
3,572
3,759
3,841
3,505
3,411
3,607
3,350
3,392
4,222
4,289
Percent of Freshmen
Applicants Accepted
77.9%
79.6%
83.8%
84.8%
83.4%
77.3%
77.5%
82.6%
76.7%
79.5%
Number of Freshmen
Enrolled
1,768
1,991
2,015
1,946
1,978
1,942
1,704
1,722
1,797
1,916
Percent of Accepted
Freshmen Enrolled
49.5%
53.0%
52.5%
55.5%
58.0%
53.8%
50.9%
50.8%
42.6%
44.7%
Average ACT Score
23.0
23.0
22.9
23.0
23.1
23.3
23.1
22.8
22.7
22.7
Average SAT Score
1104
1095
1029
1103
1066
1219
1327
1153
1290
1015
Percent of Freshmen
In Upper 50% of
High School Class
88.7%
89.3%
85.4%
76.4%
78.5%
84.0%
84.6%
81.6%
85.9%
83.8%
Percent of Freshmen
In Upper 30% of
High School Class
57.5%
53.8%
50.6%
52.3%
51.5%
56.2%
57.2%
55.2%
57.3%
56.3%
Percent of Freshmen
In Upper 20% of
High School Class
37.6%
36.1%
37.7%
36.0%
35.1%
36.7%
39.0%
37.1%
37.7%
39.4%
Percent of Freshmen
In Upper 10% of
High School Class
18.2%
17.6%
16.6%
16.9%
17.3%
18.5%
20.0%
18.1%
17.7%
18.1%
Freshmen one-year
Retention Rate
82.3%
83.7%
82.3%
82.5%
82.0%
81.3%
82.9%
84.7%
80.1%
n/a
4
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Graduate Student Data
Fall 2006 Through Fall 2015
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
Number of Graduate
Student Applications
1,093
1,143
1,159
1,166
1,113
1,515
1,333
1,511
1,266
1,327
Number of Graduate
Students Accepted
Percentage
636
58.2%
671
58.7%
785
67.7%
640
54.9%
543
48.8%
861
56.8%
811
60.8%
895
59.2%
689
54.4%
782
58.9%
Number of Graduate
Students Enrolled
Percentage
386
60.7%
427
63.6%
403
51.3%
445
69.5%
413
76.1%
616
71.5%
563
69.4%
638
71.3%
485
70.4%
589
75.3%
5
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Transfer Student Data
Fall 2006 Through Fall 2015
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
Number of Transfer
Student Applications
1,980
1,932
1,896
1,822
1,929
1,958
1,782
1,745
1,871
1,841
Number of Transfer
Students Accepted
Percentage
1,487
75.1%
1,468
76.0%
1,455
76.7%
1,470
80.7%
1,503
77.9%
1,436
73.3%
1,405
78.8%
1,291
74.0%
1,155
61.7%
1,363
74.0%
Number of Transfer
Students Enrolled
Percentage
1,114
74.9%
1,070
72.9%
1,044
71.8%
1,088
74.0%
1,138
75.7%
1,041
72.5%
985
70.1%
912
70.6%
904
78.3%
979
71.8%
6
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Geographical Distribution of Students
Fall, 2015
--Iowa Residents-Number
Percent
Freshman Class Only
1,751
91.4%
--Iowa Residents-Number
Percent
---Residents of-----Other States--Number
Percent
131
6.8%
---Residents of-----Other States--Number
Percent
----Residents of-----Other Countries-Number
Percent
34
1.8%
----Residents of-----Other Countries-Number
Percent
-----Total----Number
Percent
1,916
100.0%
-----Total----Number
Percent
Total Enrollment:
Undergraduates
Graduates
9,083
1,466
75.8%
12.2%
605
211
5.1%
1.8%
481
135
4.0%
1.1%
10,169
1,812
84.9%
15.1%
10,549
88.0%
816
6.9%
616
5.1%
11,981
100.0%
7
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Full-Time/Part-Time Split of Students on a Headcount Basis
Fall, 2006 through Fall, 2015
--Undergraduate-------Students-----
-----Graduate--------Students----
-------Total----------Students-----
Full
Time
Full
Time
Full
Time
Part
Time
Part
Time
Part
Time
Fall, 2006
89.8%
10.2%
44.3%
55.7%
84.0%
16.0%
Fall, 2007
89.8%
10.2%
43.3%
56.7%
83.9%
16.1%
Fall, 2008
90.8%
9.2%
39.3%
60.7%
83.4%
16.6%
Fall, 2009
91.0%
9.0%
43.7%
56.3%
84.6%
15.4%
Fall, 2010
91.1%
8.9%
42.5%
57.5%
86.3%
13.7%
Fall, 2011
89.5%
10.5%
42.1%
57.9%
83.2%
16.8%
Fall, 2012
90.8%
9.2%
42.2%
57.8%
84.4%
15.6%
Fall, 2013
89.9%
10.1%
35.9%
64.1%
82.0%
18.0%
Fall, 2014
89.9%
10.1%
33.4%
66.6%
81.5%
18.5%
Fall, 2015
89.8%
10.2%
31.0%
69.0%
80.9%
19.1%
8
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Four, Five and Six Year Graduation Percentages
For Freshmen Classes Entering Fall, 2002 through Fall, 2011
Graduating in
Four Years
Graduating in
Five Years or less
Graduating in
Six Years or less
Fall, 2002
33.5%
58.9%
63.0%
Fall, 2003
35.2%
62.5%
66.5%
Fall, 2004
35.2%
61.7%
67.0%
Fall, 2005
36.5%
62.2%
66.7%
Fall, 2006
38.5%
63.1%
66.3%
Fall, 2007
39.3%
62.4%
66.5%
Fall, 2008
37.8%
60.9%
63.8%
Fall, 2009
37.6%
63.7%
67.6%
Fall, 2010
39.2%
61.6%
Fall, 2011
39.9%
Freshman class entering:
9
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Cost of Tuition and Mandatory Fees Per Academic Year
2006-07 through 2015-16
2006-07
Undergraduate Tuition:
Resident
Non-Resident
Graduate Tuition:
Resident
Non-Resident
Full Room & Board
Total for an Undergraduate
Resident Student
$
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
2013-14
2014-15
2015-16
6,112
14,028
6,190
14,282
6,376
14,596
6,636
14,900
7,008
15,348
7,350
16,106
7,635
16,721
7,685
17,181
7,749
17,647
7,817
18,005
6,962
15,100
7,084
15,392
7,298
15,726
7,596
16,052
8,026
16,534
8,418
17,352
8,743
18,013
8,793
18,507
9,013
19,007
9,219
19,389
5,940
6,268
6,790
6,960
7,120
7,426
7,597
7,820
8,046
8,300
12,052
12,458
13,166
13,596
14,128
14,776
15,232
15,505
15,795
16,117
Tuition and fees are set annually by the Board of Regents. The College of Business Administration has a supplemental
tuition for students who are a declared major in the College of Business Administration and are classified as a junior,
senior or graduate student.
A residence hall activity fee is assessed in addition to the double room rate. The fee was $12 per semester through
Spring 2007. Beginning in Fall 2007, the fee was increased to $20 per semester.
10
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Residence System Data
Fall, 2006 Through Fall, 2015
Minimum
Design
Capacity
Fall, 2006
Fall, 2007
Fall, 2008
Fall, 2009
Fall, 2010
Fall, 2011
Fall, 2012
Fall, 2013
Fall, 2014
Fall, 2015
5,022
4,974
4,977
4,977
4,977
4,929
4,952
5,198
4,873
4,557
Occupancy
4,396
4,537
4,723
4,719
4,778
4,625
4,413
4,355
4,386
4,337
Double
Room
Rate
Percent
Occupied
87.5%
91.2%
94.9%
94.8%
96.0%
93.8%
89.1%
83.8%
90.0%
95.2%
$
$
$
$
$
$
$
$
$
$
5,740
6,268
6,790
6,960
7,120
7,426
7,597
7,820
8,046
8,320
Note 1: A residence hall activity fee is assessed in addition to the double room rate.
The fee was $12 per year through Spring 2007. Beginning in Fall 2007, the fee
was increased to $20 per year.
11
Percent
Increase
4.00%
9.20%
8.33%
2.50%
2.30%
4.30%
2.30%
2.94%
2.89%
3.41%
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Grants and Contracts Expenditures
2005-06 Through 2014-15
Fiscal
Year
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
2013-14
2014-15
Gross Grants
and Contracts
Expenditures
Pell Grant
Expenditures
Net Grants
and Contracts
Expenditures
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$ 21,068,698
$ 23,993,982
$ 24,149,744
$ 28,696,083
$ 30,486,162
$ 30,270,851
$ 26,786,403
$ 24,479,507
$ 22,149,078
$ 22,698,333
27,301,163
30,003,325
31,184,200
36,358,154
41,413,487
42,463,921
38,241,967
35,348,882
32,422,732
33,410,781
6,232,465
6,009,343
7,034,456
7,662,071
10,927,325
12,193,070
11,455,564
10,869,375
10,273,654
10,712,448
Note: Gross grants and contracts expenditures include Pell Grant
expenditures.
12
Percent
Change
-1.8%
13.9%
0.6%
18.8%
6.2%
-0.7%
-11.5%
-8.6%
-9.5%
2.5%
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Academic Building Revenue Bonds
Bonds Issued and Outstanding
As of December 31, 2015
Series 1994 (Refunding) (1)
$
Amount
Principal
Balance
Issued
Repaid
Outstanding
2,180,000
2,180,000
-
Series 1994 (2)
9,201,461
9,201,461
-
Series 2002 (Refunding) (3)
4,890,000
4,890,000
-
Series 2003 (Refunding) (4)
8,465,000
8,465,000
-
Series 2005 (Refunding) (5)
5,110,000
3,120,000
1,990,000
12,800,000
3,220,000
9,580,000
Series 2007 (7)
8,000,000
1,660,000
6,340,000
Series 2008 (8)
12,000,000
375,000
11,625,000
Series 2009 (9)
13,860,000
100,000
13,760,000
76,506,461
33,211,461
43,295,000
Series 2005 (6)
$
Notes:
(1)
Purpose: To provide funds to refund Academic Building Revenue Project Notes, Series UNI 1991.
(2)
Purpose: To provide funds to construct, equip and improve a Wellness/Recreation Center and replace and equip the
Price Laboratory School Field House, and fund fire safety and deferred maintenance projects on campus.
(3)
Purpose: To provide funds to refund the Academic Building Revenue Bonds, Series UNI 1991.
(4)
Purpose: To provide funds to refund the Academic Building Revenue Bonds, Series UNI 1992 and UNI 1993.
(5)
Purpose: To provide funds to refund the Academic Building Revenue Refunding Bonds, Series UNI 1995.
(6)
Purpose: To provide funds to renovate and equip the University's Science Buildings and Russell Hall.
(7)
Purpose: To provide funds to renovate and equip the University's Science Buildings and Russell Hall.
(8)
Purpose: To provide funds to renovate and equip the Electrical Distribution Loop System Phase II, Sabin Hall, and
deferred maintenance projects.
(9) Purpose: To provide funds to renovate and equip the Electrical Distribution Loop System, Sabin Hall, fire
and environmental safety, deferred maintenance, and campus security improvements.
13
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Academic Building Revenue Bonds
Bonds Retired
As of December 31, 2015
Amount
Issued
Principal
Repaid
Balance
Outstanding
Series 1971 (1)
$3,330,000
3,330,000
-
Series 1972 (2)
3,500,000
3,500,000
-
Series 1977 (3)
8,775,000
8,775,000
-
Series 1981 (4)
5,315,000
5,315,000
-
Series 1983 (5)
8,515,000
8,515,000
-
Series 1987 (Refunding) (6)
5,250,000
5,250,000
-
Series 1987 (7)
6,000,000
6,000,000
-
Series 1988 (8)
8,200,000
8,200,000
-
Series 1991 (9)
5,530,000
5,530,000
-
Series 1992 (Refunding) (10)
5,975,000
5,975,000
-
Series 1993 (Refunding) (11)
6,520,000
6,520,000
-
Series 1992 (12)
3,900,000
3,900,000
-
Series 1993 (13)
7,440,000
7,440,000
-
Series 1994 (Refunding) (14)
2,180,000
2,180,000
-
Series 1994 (15)
9,201,461
9,201,461
-
Series 1995 (16)
5,810,000
5,810,000
-
Series 1996 (Refunding) (17)
7,600,000
7,600,000
-
Series 2002 (Refunding) (18)
4,890,000
4,890,000
-
Series 2003 (Refunding) (19)
8,465,000
8,465,000
-
Series 2003A (Refunding) (20)
4,225,000
4,225,000
-
$120,621,461
120,621,461
-
Notes:
(1) Purpose: To pay the cost of construction of a Classroom and Office Building (Education), construction of Biological Research and Small Animal
Building, and equipment for Education Center Unit #1.
(2) Purpose: To pay the cost of construction of Library - Phase 2, for general remodeling, and general utilities costs.
(3) Purpose: To pay the cost of construction of a coal-fired boiler replacement and auxiliaries, and miscellaneous general utility and remodeling projects.
(4) Purpose: To provide for the completion of a turbine generator, energy and fire safety programs, renovations on an academic building, and various
campus utility projects.
(5) Purpose: To provide funds for the construction and equipping of a Communication Arts Center. The debt was extinguished by the Series 1992
Academic Building Refunding Bonds.
(6) Purpose: To provide funds to advance refund the Series 1981 Academic Building Revenue Bonds.
(7) Purpose: To provide initial funding for the construction and equipping of a Classroom and Office Building (School of Business), renovation of
Latham Hall, and acquisition of instructional, research and computation equipment.
(8) Purpose: To provide funding for the construction and equipping of a Classroom and Office Building (School of Business) and renovation of
Latham Hall.
(9) Purpose: To provide funding to remodel and equip Seerley Hall and for fire safety projects.
(10) Purpose: To provide funds to advance refund the Series 1983 Academic Building Revenue Bonds.
(11) Purpose: To provide funds to advance refund the Series 1987 Academic Building Revenue Bonds.
(12) Purpose: To provide funds to defray cost of fire and environmental safety improvements, deferred maintenance, equipment and utility projects.
(13) Purpose: To provide funds for constructing, furnishing and equipping a fourth floor addition to the Donald O. Rod Library.
(14) Purpose: To provide funds to refund Academic Building Revenue Project Notes, Series UNI 1991
(15) Purpose: To provide funds to construct, equip and improve a Wellness/Recreation Center and replace and equip the Price Laboratory School
Field House, and fund fire safety and deferred maintenance projects on campus.
(16) Purpose: To provide funds to construct, equip and improve a Wellness/Recreation Center and replace and equip the Price Laboratory School
Field House, and fund fire safety and deferred maintenance projects on campus.
(17) Purpose: To provide funds to advance refund the Series 1988 Academic Building Revenue Bonds.
(18) Purpose: To provide funds to refund the Academic Building Revenue Bonds, Series UNI 1991.
(19) Purpose: To provide funds to refund the Academic Building Revenue Bonds, Series UNI 1992 and UNI 1993.
(20) Purpose: To provide funds to advance refund the Series 1993 (Refunding) Academic Building Revenue Bonds.
14
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Academic Building Revenue Bonds
Ratio of Available Tuition to Debt Service
2005-06 Through 2014-15
Fiscal
Year
Pledged
General
Fund
Tuition
Maximum
Debt
Service
Maximum
Debt Service
Ratio
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
2013-14
2014-15
$ 58,158,455
$ 61,801,075
$ 63,770,724
$ 67,272,293
$ 71,581,019
$ 76,542,266
$ 80,775,769
$ 77,792,170
$ 76,245,813
$ 76,008,776
$5,391,685
$5,900,854
$6,287,353
$7,116,493
$7,116,493
$6,905,283
$6,492,948
$6,492,948
$4,322,678
$4,163,768
10.79
10.47
10.14
9.45
10.06
11.08
12.44
11.98
17.64
18.25
to 1
to 1
to 1
to 1
to 1
to 1
to 1
to 1
to 1
to 1
According to IRS Regulation 1.148-2(F)(2) the reserve fund should be an
amount lesser of (i) ten percent of the principal amount of the bonds, (ii)
the maximum annual principal and interest coming due on the bonds, or
(iii) 125% of the average annual principal and interest coming due on the
bonds.
Tuition income plus tuition discount in 2014-15 was
$76,008,776 and the maximum annual debt service was $4,163,768.
Coverage was 18.25 times maximum annual debt service.
Please reference Note V entitled "Segment Reporting" in the University's
Comprehensive Annual Financial Report to view the financial statements of
Academic Building Revenue Bonds.
15
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Long-Term Debt - Residence System
As of December 31, 2015
Amount
Issued
Principal
Repaid
4,255,000
16,790,000
10,160,000
24,870,000
13,810,000
69,885,000
1,980,000
3,160,000
3,725,000
2,775,000
3,845,000
15,485,000
Amount
Issued
Principal
Repaid
6,250,000
3,050,000
6,200,000
9,145,000
7,000,000
14,040,000
9,535,000
9,210,000
64,430,000
6,250,000
3,050,000
6,200,000
9,145,000
7,000,000
14,040,000
9,535,000
9,210,000
64,430,000
Balance
Outstanding
Dormitory Revenue Bonds Outstanding
Series 2010
Series 2010A
Series 2010B
Series 2011
Series 2012
$
$
2,275,000
13,630,000
6,435,000
22,095,000
9,965,000
54,400,000
Dormitory Revenue Bonds Retired
Series 1964
Series 1965-C
Series 1967-C
Series 1992
Series 1999
Series 2000
Series 2002
Series 2003
$
$
Balance
Outstanding
-
Residence System revenue bonds were issued for the construction, renovation and
equipping of residence halls, food service buildings and apartment housing.
The Residence System revenue bonds mature on July 1, 2033.
The bonds are payable solely from the net rents, profits, and income of the system.
The bond indenture requires coverage of 1.35 times maximum annual debt service.
Maximum annual debt service is defined as the largest sum of principal and interest
payable in any subsequent fiscal year. Coverage is computed as net income divided
by the maximum annual debt service. Net income in 2014-15 was $12,453,000 and
the maximum annual debt service was $6,750,000. Coverage was 1.84 times maximum
annual debt service.
Please reference Note V entitled "Segment Reporting" in the University's
Comprehensive Annual Financial Report to view the financial statements of
Residence System Revenue Bonds.
16
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Long-Term Debt - Field House
As of December 31, 2015
Amount
Issued
Principal
Repaid
Balance
Outstanding
Field House Revenue Bonds Outstanding
Series 2011 (Refunding)
Series 2013 (Refunding)
Series 2015 (Refunding)
$
$
3,610,000
4,815,000
3,460,000
11,885,000
1,195,000
800,000
1,995,000
2,415,000
4,015,000
3,460,000
9,890,000
Field House Revenue Bonds Retired
Series 1997
Series 2001
Series 2004
Series 2005 (Refunding)
$
$
Amount
Issued
Principal
Repaid
9,150,000
5,625,000
10,000,000
7,465,000
32,240,000
9,150,000
5,625,000
10,000,000
7,465,000
32,240,000
Balance
Outstanding
-
The Series 2004 bonds were issued for the construction of the McLeod Center. The 2005
bonds were issued to refund the 1997 bonds, which were issued to replace the air supported
roof of the UNI-Dome and to make other repairs. The 2011 bonds were issued to refund
the 2001 bonds, which were issued to repair the UNI-Dome. The 2013 bonds were issued to
refund the 2004 bonds. The 2015 bonds were issued to refund the 2005 refunding bonds.
The bonds are payable from operating income, a Field House student fee, and interest income.
The bond indenture required coverage of 1.20 times the annual debt service. Coverage is
computed as net income plus the System Fund balance divided by annual debt service.
Net income in 2014-15 was $1,117,000 and the System Fund balance was $5,764,000.
Annual debt service was $1,546,000. Coverage was 4.45 times annual debt service.
The 2015 bonds were issued to refund the 2005 refunding.
Please reference Note V entitled "Segment Reporting" in the University's
Comprehensive Annual Financial Report to view the financial statements of
Field House Revenue Bonds.
17
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Long-Term Debt - Student Union
As of December 31, 2015
Amount
Issued
Principal
Repaid
Balance
Outstanding
Student Union Revenue Bonds Outstanding
Series 2011 Refunding
$ 8,425,000
2,875,000
5,550,000
12,755,000
-
Student Union Revenue Bonds Retired
Series 2002 Revenue Bonds
$ 12,755,000
The Series 2011 bonds were dated August 1, 2011. They were issued to refund the Series
2002 bonds, which were issued to renovate and expand the Student Union.
The bonds are payable from operating income and a Student Union fee.
The bond indenture requires coverage of 1.20 times the annual debt service. Coverage is
computed as net income plus the System Fund balance divided by annual debt service.
Net income in 2014-15 was $1,098,000 and the System Fund balance was $1,850,000,
Annual debt service was $902,000. Coverage was 3.27 times annual debt service.
Please reference Note V entitled "Segment Reporting" in the University's
Comprehensive Annual Financial Report to view the financial statements of
Student Union Revenue Bonds.
18
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Long-Term Debt - Student Health System
As of December 31, 2015
Amount
Issued
Principal
Repaid
Balance
Outstanding
Student Health System Revenue Bonds
Series 2013 Refunding
$ 2,435,000
400,000
2,035,000
3,875,000
-
Student Health System Revenue Bonds
Series 2004 Revenue Bonds
$ 3,875,000
The Series 2004 bonds were issued on March 1, 2004 to expand the Student Health Center.
The Series 2013 bonds were dated May 1, 2013. They were issued to refund the Series 2004 bonds.
The bonds are payable from operating income and a Student Health Fee.
The bond indenture requires coverage of 1.20 times annual debt service.
Coverage is computed as net income plus the System Fund balance divided by annual debt
service. Net income in 2014-15 was $378,000, the System Fund balance was $1,816,000.
Annual debt service was $251,000. Coverage was 8.74 times annual debt service.
Please reference Note V entitled "Segment Reporting" in the University's
Comprehensive Annual Financial Report to view the financial statements of
Student Health System Bonds.
19
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Annual Debt Service Requirements - All Bond Issues
As of December 31, 2015
Year
Ended
June 30
Academic
Buildings
Total
Residence
System
Total
3,888,102.50
4,044,267.50
4,108,155.00
4,208,387.50
4,225,335.00
3,781,597.50
3,800,350.00
3,799,831.26
3,773,006.26
3,767,456.26
3,765,625.00
3,807,237.50
2,066,000.00
2,046,000.00
2,048,500.00
2,072,250.00
2,066,000.00
2,081,000.00
2,046,000.00
2,063,250.00
6,748,065.01
6,738,385.01
6,739,865.01
6,255,582.51
6,258,907.51
5,765,057.51
4,533,920.01
4,527,395.01
2,474,236.25
2,477,386.25
2,483,843.75
2,494,975.00
2,500,100.00
2,506,500.00
2,508,400.00
1,255,800.00
1,271,200.00
1,279,200.00
-
1,460,503.13
1,449,137.50
1,429,637.50
1,429,237.50
1,437,237.50
1,433,337.50
1,437,737.50
509,400.00
515,000.00
-
897,825.00
894,450.00
886,950.00
889,000.00
895,300.00
895,700.00
870,350.00
-
251,612.50
252,412.50
248,112.50
248,812.50
249,412.50
249,912.50
250,312.50
250,612.50
250,512.50
-
13,246,108.14
13,378,652.51
13,412,720.01
13,031,020.01
13,066,192.51
12,125,605.01
10,892,670.01
9,087,238.77
7,012,755.01
6,244,842.51
6,249,468.75
6,302,212.50
4,566,100.00
4,552,500.00
4,556,900.00
3,328,050.00
3,337,200.00
3,360,200.00
2,046,000.00
2,063,250.00
$
63,458,351.28
68,818,818.83
11,101,228.13
6,229,575.00
2,251,712.50
151,859,685.74
Required
Debt Service
Reserve
$
4,163,768.00
6,115,950.71
1,188,500.00
842,500.00
243,500.00
12,554,218.71
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
Field
House
Total
20
Student
Union
Total
Student
Health
Total
Grand
Total
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Annual Debt Service Requirements - All Notes Payable
As of December 31, 2015
Year
Ended
June 30
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
McLeod Center
City of Cedar Falls
Note
Human Performance
Energy Saving
Center
Projects
Wells Fargo Bank Iowa Finance Authority
Note
Note
Power Plant
Projects
Wells Fargo Bank
Note
Total
Debt Service
on
Notes Payable
$
15,000.00
15,000.00
15,000.00
15,000.00
15,000.00
15,000.00
15,000.00
15,000.00
15,000.00
15,000.00
15,000.00
15,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
253,407.16
109,529.00
109,529.00
109,529.00
109,529.00
109,529.00
109,529.00
109,529.00
109,529.00
13,814.45
584,670.42
584,670.42
584,670.40
584,670.40
584,670.42
584,670.40
584,670.41
584,670.40
584,670.41
962,606.58
709,199.42
709,199.40
709,199.40
709,199.42
709,199.40
709,199.41
709,199.40
613,484.86
15,000.00
15,000.00
15,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
$
380,000.00
253,407.16
890,046.45
5,262,033.68
6,785,487.29
Note: After $300,000 has been repaid on the City of Cedar Falls note, the University is permitted to request
the City of Cedar Falls forgive the remaining $200,000.
21
UNIVERSITY OF NORTHERN IOWA
Statement of Net Position
June 30, 2015 and 2014
2015
ASSETS
Current Assets:
Cash and cash equivalents
Investments
Accounts receivable, net
Notes receivable, net
Interest receivable
Due from government agencies
Prepaid expenses and other current assets
Inventories
Total Current Assets
$
Noncurrent Assets:
Investments
Accounts receivable, net
Notes receivable, net
Prepaid expenses
Capital assets, Nondepreciable
Capital assets, Depreciable, net
Total Noncurrent Assets
Total Assets
DEFERRED OUTFLOWS OF RESOURCES
Pension related deferred outflows
LIABILITIES
Current Liabilities:
Accounts payable
Salaries and wages payable
Unpaid claims and contingent liabilities
Unearned revenue
Interest payable
Long-term debt
Other long-term liabilities
Deposits held in custody for others
Total Current Liabilities
Noncurrent Liabilities:
Other long-term liabilities
Long-term debt
Total Noncurrent Liabilities
Total Liabilities
DEFERRED INFLOWS OF RESOURCES
Pension related deferred inflows
NET POSITION
Net investment in capital assets
Restricted
Nonexpendable
Expendable
Unrestricted
Total Net Position
$
22
2014
(not restated)
26,398,702
63,434,024
7,432,290
1,940,126
541,945
5,073,801
3,783,613
1,577,132
110,181,633
20,588,882
55,591,450
9,882,201
1,906,269
543,356
5,144,840
4,704,216
2,338,194
100,699,408
31,124,949
7,760,504
370,624
9,745,831
370,057,746
419,059,654
529,241,287
41,075,265
962,328
7,600,153
114,382
9,146,477
377,289,971
436,188,576
536,887,984
3,286,884
-
7,906,198
1,251,608
1,866,813
4,571,649
3,511,161
14,770,652
5,043,207
4,257,516
43,178,804
10,566,918
736,803
1,783,788
5,477,006
3,076,806
10,912,763
5,481,989
4,389,810
42,425,883
37,886,717
121,083,469
158,970,186
202,148,990
26,662,561
132,349,070
159,011,631
201,437,514
3,598,522
-
258,659,287
254,034,901
615,895
30,560,434
36,945,043
326,780,659
615,895
29,898,129
50,901,545
335,450,470
UNIVERSITY OF NORTHERN IOWA
Statement of Revenues, Expenses and Changes in Net Position
Years Ended June 30, 2015 and 2014
2015
REVENUES
Operating Revenues:
Tuition and fees, net of scholarship allowances of
$27,115,085 for 2015 and $25,424,620 for 2014
Federal grants and contracts
State and local grants and contracts
Nongovernmental grants and contracts
Sales and services of educational activities
Interest on student loans
Other operating revenue
Auxiliary enterprises
Total Operating Revenues
$
EXPENSES
Operating Expenses:
Instruction
Research
Public service
Academic support
Student services
Institutional support
Operation and maintenance of plant
Scholarships and fellowships
Depreciation/amortization
Other operating expenses
Auxiliary enterprises
Total Operating Expenses
Operating (Loss)
NONOPERATING REVENUES (EXPENSES):
State appropriations
Federal grants and contracts
Nonfederal gifts, grants and contracts
Investment income
Interest on indebtedness
Loss on disposal of capital assets
Other nonoperating expense
Net Nonoperating Revenues
(Loss) Before Other Revenues
OTHER REVENUES:
Capital appropriations
Capital gifts, grants and contracts
Total Other Revenues
Change in Net Position
NET POSITION
Net position, beginning of year, as restated
Net position, end of year
$
23
2014
(not restated)
62,538,104
15,782,976
2,983,411
3,943,663
6,168,882
210,849
711,025
60,468,336
152,807,246
64,320,008
16,662,776
2,053,427
3,320,222
6,403,218
226,660
562,860
57,101,721
150,650,892
86,536,932
3,175,745
21,315,032
22,866,432
10,430,540
27,210,997
22,201,764
6,202,848
18,095,313
150,187
51,743,111
269,928,901
86,505,596
2,982,535
25,052,740
22,489,903
9,636,281
26,066,570
21,166,860
3,381,347
18,040,748
193,945
50,774,324
266,290,849
(117,121,655)
(115,639,957)
100,659,338
10,714,971
2,010,489
1,658,231
(5,890,651)
(295,199)
(73,167)
108,784,012
(8,337,643)
96,910,269
10,270,339
3,827,149
3,644,079
(5,463,353)
(2,428,923)
106,759,560
(8,880,397)
8,121,169
1,832,059
9,953,228
1,615,585
14,177,141
3,232,154
17,409,295
8,528,898
325,165,074
326,921,572
326,780,659
335,450,470
UNIVERSITY OF NORTHERN IOWA
Statement of Cash Flows
Years Ended June 30, 2015 and 2014
2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Tuition and fees
Grants and contracts receipts
Collections of loans from students
Auxiliary enterprise receipts
Payments for salaries and benefits
Payments for goods and services
Scholarships
Loans issued to students
Auxiliary enterprise payments
Interest on loans to students
Other operating receipts
Net Cash Used by Operating Activities
$
2014
62,233,336
22,264,252
1,822,009
60,194,845
(151,086,727)
(41,402,092)
(6,116,446)
(1,976,128)
(51,813,457)
193,071
6,598,096
(99,089,241)
63,699,063
22,715,923
1,867,217
57,445,885
(153,286,305)
(40,255,576)
(3,269,564)
(1,674,133)
(50,797,775)
215,804
6,734,551
(96,604,910)
CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES:
State appropriations
William D. Ford direct lending and plus loans receipts
William D. Ford direct lending and plus loans made
Agency receipts
Agency payments
Noncapital gifts
Net Cash Provided by Noncapital Financing Activities
100,643,709
54,888,413
(54,892,833)
3,279,729
(3,335,602)
14,505,101
115,088,517
96,968,644
58,551,372
(58,586,203)
3,334,949
(3,426,106)
13,987,909
110,830,565
CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES:
Capital appropriations received
Capital gifts and grants received
Acquisition of capital assets
Proceeds from sale of capital assets
Principal paid on capital debt
Interest paid on capital debt
Proceeds from capital debt
Other capital and related financing receipts
Other capital and related financing payments
Net Cash Used by Capital and Related Financing Activities
8,131,943
1,480,015
(11,079,376)
146,207
(10,860,285)
(5,511,685)
3,476,289
251,980
(73,167)
(14,038,079)
14,177,141
1,167,716
(15,288,930)
359,380
(16,467,891)
(5,349,219)
5,000,000
2,322
(16,399,481)
CASH FLOWS FROM INVESTING ACTIVITIES:
Interest and dividends on investments
Proceeds from sale and maturities of investments
Purchase of investments
Net Cash Provided/(Used) by Investing Activities
457,275
38,315,985
(34,924,637)
3,848,623
463,833
38,990,007
(43,874,446)
(4,420,606)
5,809,820
(6,594,432)
20,588,882
27,183,314
26,398,702
20,588,882
NET DECREASE IN CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR
CASH AND CASH EQUIVALENTS, END OF YEAR
$
24
UNIVERSITY OF NORTHERN IOWA
Statement of Cash Flows
Years Ended June 30, 2015 and 2014
2015
2014
RECONCILIATION OF OPERATING LOSS TO NET CASH
USED BY OPERATING ACTIVITIES
Operating loss
$
Adjustments to reconcile operating loss to net cash used by operating activities:
Depreciation/amortization
(Increase)/Decrease in accounts receivable
(Increase)/Decrease in notes receivable
(Increase)/Decrease in due from government agencies
(Increase)/Decrease in inventories
(Increase)/Decrease in prepaid expenses
(Increase)/Decrease in other assets
(Increase)/Decrease in deferred outflows
Increase/(Decrease) in accounts payable
Increase/(Decrease) in salaries and wages payable
Increase/(Decrease) in unearned revenue
Increase/(Decrease) in other liabilities
Increase/(Decrease) in pension liability
Increase/(Decrease) in deferred inflows
Net Cash Used By Operating Activities
$
Noncash Capital, Financing and Investing Activities:
Equipment with a fair value of $302,016 was donated to the University in 2015.
Net unrealized gain increased the fair value of the University's investments $310,905 in 2015
and $3,928,656 in 2014.
25
(117,121,655)
(115,639,957)
18,095,313
1,373,637
(194,209)
3,521
761,062
668,483
(1,564)
(3,286,884)
(2,352,878)
25,304
(901,347)
1,093,103
(849,649)
3,598,522
18,040,748
385,596
108,089
(180,746)
1,536,259
(398,476)
16,907
(2,479,983)
(67,645)
1,615,008
459,290
-
(99,089,241)
(96,604,910)
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Staff Statistics (Non-Temporary Employees)
September, 2006 through September, 2015
Executive/Managerial
Institutional Officials
Academic Administrators
Professional & Scientific
Faculty
Professor
Associate Professor
Assistant Professor
Instructor
Faculty-Term/Renewable Term
Professor
Associate Professor
Assistant Professor
Instructor
Professional/Scientific
Secretarial/Clerical
Merit Supervisory
Merit Confidential
Merit AFSCME
Technical-AFSCME
Skilled Crafts-AFSCME
Merit AFSCME
Merit Supervisory
Service/Maintenance
Merit AFSCME
Merit Supervisory
Total
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
15
44
35
16
50
37
15
53
42
15
57
40
13
50
35
13
46
35
13
47
35
13
44
36
13
45
39
13
46
36
165
209
133
50
163
209
122
51
166
204
127
53
176
202
121
47
174
205
119
48
177
207
123
45
169
200
114
36
170
202
120
33
164
201
134
32
167
191
128
30
1
0
0
41
530
1
0
1
38
541
1
0
2
37
570
1
0
1
38
577
0
0
2
39
578
0
0
3
60
603
0
0
2
35
592
0
0
0
36
609
0
0
1
46
622
0
0
2
49
638
46
7
229
31
45
5
230
31
43
5
227
30
42
4
226
27
42
4
210
24
18
16
230
22
17
16
221
20
16
17
216
20
16
17
216
21
16
14
201
16
64
4
58
4
59
4
56
4
55
0
55
0
56
0
59
0
59
0
57
0
213
26
218
27
223
29
223
26
219
25
214
27
203
25
204
24
212
23
207
24
1,843
1,847
1,890
1,883
1,842
1,894
1,801
1,819
1,861
1,835
26
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Highest Degrees Held by Faculty (All Persons of Faculty Rank)
Fall, 2006 through Fall, 2015
Ph.D.
Fall, 2006
Fall, 2007
Fall, 2008
Fall, 2009
Fall, 2010
Fall, 2011
Fall, 2012
Fall, 2013
Fall, 2014
Fall, 2015
63.6%
64.3%
59.4%
62.6%
62.9%
64.9%
66.2%
65.7%
63.8%
62.9%
Ed.S.
MA/MS
0.2%
0.4%
0.2%
0.2%
0.2%
0.4%
0.4%
0.4%
0.2%
0.9%
30.5%
30.5%
33.0%
31.7%
31.1%
30.1%
30.5%
31.0%
34.0%
33.6%
B.A./B.S.
5.7%
4.8%
7.4%
5.5%
5.8%
4.6%
2.9%
2.9%
2.0%
2.6%
Total
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
Appointment Status (All Persons of Faculty Rank)
Fall, 2006 through Fall, 2015
Tenure
Fall, 2006
Fall, 2007
Fall, 2008
Fall, 2009
Fall, 2010
Fall, 2011
Fall, 2012
Fall, 2013
Fall, 2014
Fall, 2015
56.3%
56.6%
54.1%
57.7%
56.2%
56.0%
57.4%
56.2%
53.5%
55.7%
Probation Temporary
16.1%
15.0%
15.4%
15.7%
14.8%
15.3%
14.2%
14.9%
15.9%
17.0%
27
22.7%
23.6%
25.8%
21.7%
24.1%
21.0%
23.7%
24.5%
25.2%
20.7%
Term
4.9%
4.8%
4.7%
4.9%
4.9%
7.7%
4.7%
4.4%
5.4%
6.6%
Total
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, IA 50614
Collective Bargaining Representation
As of December 31, 2015
Bargaining
Unit
Number
Employees
Represented
Bargaining
Agent
End of
Current
Contract
Faculty
United Faculty
698
June 30, 2017
Regents Merit System
AFSCME-Clerical
AFSCME-Blue Collar
AFSCME-Security
AFSCME-Technical
196
243
19
15
June 30, 2017
June 30, 2017
June 30, 2017
June 30, 2017
AFSCME-Total
473
Note: United Faculty count includes tenured professors plus temporary
instructors.
28
University of Northern Iowa
Notes to Financial Statements
June 30, 2015
Retirement Programs
Teachers Insurance and Annuity Association – College Retirement Equities Fund (TIAA-CREF)
The University contributes to the TIAA-CREF retirement program, which is a defined contribution plan. TIAA-CREF
administers the retirement plan for the University. The defined contribution retirement plan provides individual annuities for each
plan participant. As required by the Board of Regents, State of Iowa policy, all eligible University employees must participate in a
retirement plan from the date they are employed. Benefit terms, including contribution requirements, for TIAA-CREF are
established and specified by the contract with TIAA-CREF in accordance with Board of Regents, State of Iowa policy. For each
employee in the pension plan, the University is required to contribute 6 2/3% of the first $4,800 of annual salary and 10% of
annual salary above $4,800 through the fifth year of employment. Upon completion of five years of service, the University is
required to contribute 10% of annual salary to an individual employee account. Each employee is required to contribute 3 1/3% of
the first $4,800 of annual salary and 5% of annual salary above $4,800 through the fifth year of employment. Upon completion of
five years of service, each employee is required to contribute 5%. Contributions made by both employer and employee vest
immediately. During fiscal years 2015 and 2014, the University’s required and actual contribution totaled $10,789,441 and
$11,109,967, respectively. During fiscal years 2015 and 2014, the employees’ required and actual contribution totaled $5,271,647
and $5,270,083, respectively.
Iowa Public Employees’ Retirement System (IPERS)
IPERS membership is mandatory for employees of the University except for those covered by another retirement system.
Employees of the University are provided with pensions through a cost-sharing multiple employer defined benefit pension plan
administered by IPERS. IPERS issues a stand-alone financial report which is available to the public by mail at IPERS, P.O. Box
9117, Des Moines, Iowa 50306-9117 or at www.ipers.org.
Effective July 1, 2012, as a result of a 2010 law change, the contribution rates are established by IPERS following the annual
actuarial valuation, which applies IPERS’ Contribution Rate Funding Policy and Actuarial Amortization Method. State statute
limits contribution rate increases or decreases each year to 1%. IPERS Contribution Rate Funding Policy requires that the
actuarial contribution rate be determined using the “entry age normal” actuarial cost method and the actuarial assumptions and
methods approved by the IPERS Investment Board. The actuarial contribution rate covers normal cost plus the unfunded actuarial
liability payment based on a 30-year amortization period. The payment to amortize the unfunded actuarial liability is determined
as a level percentage of payroll, based on the Actuarial Amortization Method adopted by the Investment Board. In fiscal year
2015 and 2014, pursuant to the required rate, Regular Members contributed 5.95% of pay and the University contributed 8.93%
for a total rate of 14.88%. The University’s contributions to IPERS for the years ended June 30, 2015 and 2014 were $1,532,833
and $1,386,177, respectively.
29
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Schedule of State Appropriations
Year Ended June 30, 2016
and the Four Previous Years
2011-12
2012-13
2013-14
2014-15
2015-16
Note
74,734,586
175,256
574,716
125,302
1,734,656
87,471
288,000
-
81,113,859
175,256
574,716
125,302
4,700,000
182,734
900,000
83,222,819
6,000,000
175,256
1,066,419
125,302
5,200,000
202,734
76,114
900,000
89,176,732
4,000,000
175,256
1,066,419
125,302
5,200,000
900,000
94,276,732
175,256
1,066,419
125,302
5,200,000
900,000
$
77,719,987
87,771,867
96,968,644
100,643,709
101,743,709
$
5,767,007
380,000
6,279,038
-
3,910,141
380,000
6,274,243
-
3,642,189
-
4
5
1,000,000
-
7,786,000
-
10,267,000
-
1,947,000
-
15,000,000
6
7
7,147,007
14,065,038
14,557,141
8,221,243
18,642,189
Operating Appropriations:
General Educational Fund
General Educational Fund-Supplemental
Recycling & Reuse Transfer Center
Economic Development
Real Estate Education
Math & Science Education Collaborative
South West Iowa Continuing Education
North West Iowa Continuing Education
Grow Iowa Values Fund
Regents Innovation Fund
$
1
2
2
3
3
Capital Appropriations:
Tuition Replacement
ADA & Fire Safety
Bartlett Hall Renovation/Baker
Hall Demolition
Schindler Education Center Renovation
$
Notes:
1. One-time funding.
2. Continuing Education Center funds will be managed by the University of Iowa beginning in F2015.
3. The Grow Iowa Values Fund was re-named the Regents Innovation Fund.
4. Tuition Replacement Appropriation is to the Board of Regents. Allocated based on institutional need. The F2014 allocation was small
due to overfunding of the Debt Service Reserve. The F2016 allocation was small due to final payment on multiple bond issues.
5. ADA & Fire Safety Appropriation is to the Board of Regents. $380,000 of $2 million allocated to UNI.
6. The Iowa General Assembly appropriated $21,000,000 over four years for Bartlett Hall Renovation/Baker Hall Demolition.
7. The Iowa General Assembly appropriated $30,900,000 over two years for Schindler Education Center Renovation.
30
UNIVERSITY OF NORTHERN IOWA FOUNDATION
Combined Statements of Financial Position
June 30, 2015 and 2014
ASSETS
2015
Current Assets:
Cash and cash equivalents
Investments
Pledges receivable, net
Other receivables
Other
$
2014
930,207
19,610,914
1,945,685
225,524
183,685
621,966
18,404,719
1,498,326
158,291
123,918
22,896,015
20,807,220
4,879,777
108,912,354
1,385,701
794,416
129,473
4,559,364
108,887,771
1,444,554
693,865
151,082
116,101,721
115,736,636
$
138,997,736
136,543,856
$
692,779
278,259
87,163
64,273
1,384,947
275,581
103,676
68,909
1,122,474
1,833,113
1,480,658
669,297
347,986
1,686,824
770,464
382,104
Total Noncurrent Liabilities
2,497,941
2,839,392
Total Liabilities
3,620,415
4,672,505
Net Assets:
Unrestricted
Temporarily restricted
Permanently restricted
8,507,362
40,417,265
86,452,694
8,892,299
40,986,283
81,992,769
Total Net Assets
135,377,321
131,871,351
138,997,736
136,543,856
Total Current Assets
Noncurrent Assets:
Pledges receivable, less current portion
Long-term investments
Life insurance cash value
Building, equipment and leasehold improvements, net
Other
Total Noncurrent Assets
Total Assets
LIABILITIES AND NET ASSETS
Current Liabilities:
Accounts payable, accrued expenses and other liabilities
Annuities payable
Annuity trusts payable
Unitrusts payable
Total Current Liabilities
Noncurrent Liabilities:
Annuities payable, less current portion
Annuity trusts payable, less current portion
Unitrusts payable, less current portion
Total Liabilities and Net Assets
$
31
UNIVERSITY OF NORTHERN IOWA FOUNDATION
Combined Statements of Activities
Years Ended June 30, 2015 and 2014
2015
Unrestricted
Net Assets
Revenue, support and reclassifications:
Contribution revenue
Investment return
Miscellaneous income
Change in donor intent
Reclassifications attributed to
underwater endowments
Net assets released from restrictions
$
Total revenue, support
and reclassifications
Expenses and adjustments:
Scholarship expenses
Programming expenses
Administrative expenses
Fundraising expenses
Uncollectible pledges
Depreciation expense
Present value liability actuarial
adjustment
Net assets, end of year
4,067,368
216,106
343,361
15,246,299
2,869,252
45,891
-
(25,061)
10,752,504
25,061
(10,752,504)
-
-
14,047,222
(512,615)
4,626,835
18,161,442
4,357,658
5,089,266
1,912,508
3,027,956
36,731
107,458
43,130
-
25,770
-
4,357,658
5,089,266
1,912,508
3,027,956
105,631
107,458
13,273
141,140
54,995
56,403
166,910
14,655,472
4,459,925
3,505,970
(384,937)
Net assets, beginning of year
$
Total
Net
Assets
8,394,383
2,135,756
12,000
(327,311)
14,432,159
Change in net assets
Permanently
Restricted
Net Assets
2,784,548
517,390
33,891
(16,050)
(99,418)
Total expenses and adjustments
Temporarily
Restricted
Net Assets
(569,018)
8,892,299
40,986,283
81,992,769
131,871,351
8,507,362
40,417,265
86,452,694
135,377,321
32
2014
Unrestricted
Net Assets
Temporarily
Restricted
Net Assets
Permanently
Restricted
Net Assets
Total
Net
Assets
1,218,826
3,960,925
24,212
6,858,754
10,509,485
16,078
3,271,503
622,319
-
11,349,083
15,092,729
40,290
(676,588)
10,710,093
676,588
(10,710,093)
-
-
15,237,468
7,350,812
3,893,822
26,482,102
4,557,282
4,593,058
911,902
2,225,306
22,280
92,600
173,811
-
54,385
-
4,557,282
4,593,058
911,902
2,225,306
250,476
92,600
156,200
17,105
327,693
500,998
12,558,628
190,916
382,078
13,131,622
2,678,840
7,159,896
3,511,744
13,350,480
6,213,459
33,826,387
78,481,025
118,520,871
8,892,299
40,986,283
81,992,769
131,871,351
33
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
UNI Foundation-Statements of Activities Information
Ten Years Ended June 30, 2015
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
2013-14
2014-15
Public
Support
Revenue
8,612,375
8,682,789
14,357,954
8,871,816
14,240,782
20,684,179
12,727,393
27,783,085
11,349,083
15,246,299
8,000,324
10,990,294
(2,186,131)
(14,914,020)
8,528,000
12,609,404
(965,412)
8,764,029
15,133,019
2,915,143
Total
16,612,699
19,673,083
12,171,823
(6,042,204)
22,768,782
33,293,583
11,761,981
36,547,114
26,482,102
18,161,442
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
UNI Foundation-Statements of Financial Position Information
Ten Years Ended June 30, 2015
Net
Assets
Liabilities
Assets
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
83,501,092
88,830,577
88,251,749
68,250,535
78,046,400
100,269,128
97,019,194
122,048,619
136,543,856
138,997,736
9,899,375
11,014,996
9,054,421
6,539,363
5,413,940
4,981,140
3,992,589
3,527,748
4,672,505
3,620,415
34
73,601,717
77,815,581
79,197,328
61,711,172
72,632,460
95,287,988
93,026,605
118,520,871
131,871,351
135,377,321
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
UNI Foundation-Analysis of Alumni Giving
Ten Years Ended June 30, 2015
Fiscal
Year
Total
Living
Alumni
Total
Solicitable
Alumni
Amount
Contributed
Alumni
Contributing
Average
Contribution
Percent of
Living Alumni
Making
Contributions
Percent of
Solicitable
Alumni
Making
Contributions
2005-06
93,116
89,287
$4,277,838
11,823
$362
12.7%
13.2%
2006-07
94,906
91,272
$3,978,347
12,482
$319
13.2%
13.7%
2007-08
96,843
93,187
$5,355,525
11,779
$455
12.2%
12.6%
2008-09
99,128
95,231
$3,511,517
11,267
$312
11.4%
11.8%
2009-10
101,198
97,190
$3,514,234
11,128
$316
11.0%
11.4%
2010-11
103,259
99,293
$3,282,161
10,390
$316
10.1%
10.5%
2011-12
105,404
101,409
$3,495,317
10,330
$338
9.8%
10.2%
2012-13
106,911
103,264
$4,040,317
9,796
$412
9.2%
9.5%
2013-14
109,010
105,304
$4,761,834
9,418
$506
8.6%
8.9%
2014-15
111,241
107,360
$5,136,023
9,609
$535
8.6%
9.0%
35
UNIVERSITY OF NORTHERN IOWA
Endowment Statistics
Five Years Ended June 30, 2015
June 30, 2011
June 30, 2012
June 30, 2013
June 30, 2014
June 30, 2015
$68,826,959
11,681
$5,892
18.45%
$67,927,125
11,393
$5,962
-1.32%
$82,689,237
10,873
$7,605
10.56%
$101,260,056
10,616
$9,538
15.42%
$107,319,495
10,311
$10,408
1.78%
$7,950,913
11,681
$681
21.63%
$7,540,078
11,393
$662
0.96%
$7,872,488
10,873
$724
11.18%
$8,658,438
10,616
$816
16.56%
$9,382,214
10,311
$910
2.44%
$76,777,872
11,681
$6,573
$75,467,203
11,393
$6,624
$90,561,725
10,873
$8,329
$109,918,494
10,616
$10,354
$116,701,709
10,311
$11,318
UNI Foundation Only:
Endowment Assets at Market
FTE Students (Fall Term)
Per FTE Student
Endowment Return
University of Northern Iowa Only:
Endowment Assets at Market
FTE Students (Fall Term)
Per FTE Student
Endowment Return
Combined:
Endowment Assets at Market
FTE Students (Fall Term)
Per FTE Student
36
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Pell Grant Revenue
2005-06 Through 2014-15
Fiscal
Year
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
2013-14
2014-15
Revenue
$
$
$
$
$
$
$
$
$
$
6,232,465
6,007,080
7,036,719
7,654,491
10,913,366
12,213,433
11,466,659
10,860,223
10,270,339
10,714,971
37
Percent
Change
-11.3%
-3.6%
17.1%
8.8%
42.6%
11.9%
-6.1%
-5.3%
-5.4%
4.3%