UNIVERSITY OF NORTHERN IOWA
CEDAR FALLS, IOWA 50614
GENERAL INFORMATION FOR BOND RATING AGENCIES
As of
February 28, 2013
Dr. Benjamin Allen
President
(319) 273-2566
Michael Hager
Vice President for Administration and Financial Services
(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
Freshman 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 Assets
Statement of Revenues, Expenses and Changes In Net Assets
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 2003 Through Fall 2012
Student Level
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
Lower Division
4,619
4,363
4,433
4,427
4,719
4,865
4,841
4,780
4,961
4,329
Upper Division
7,155
6,857
6,519
6,275
6,291
6,182
6,453
6,611
6,446
6,326
Total Undergraduate
11,774
11,220
10,952
10,702
11,010
11,047
11,294
11,391
11,407
10,655
1,173
1,100
1,112
1,113
1,157
1,372
1,301
1,291
1,237
1,161
494
504
449
445
442
489
485
519
524
457
Masters
Advanced Graduate
Professional
Totals
NA
13,441
NA
12,824
NA
12,513
NA
12,260
NA
12,609
1
NA
12,908
NA
13,080
NA
13,201
NA
13,168
NA
12,273
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Ten Year Full-Time Equivalent (FTE) Enrollment Data
Fall 2003 Through Fall 2012
Student Level
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
Lower Division
3,953
3,761
3,914
3,904
4,107
4,346
4,281
4,207
4,092
3,890
Upper Division
6,251
5,966
5,798
5,632
5,649
5,573
5,829
5,986
5,903
5,686
79
68
89
87
100
94
93
108
60
54
10,283
9,795
9,801
9,623
9,856
10,013
10,203
10,301
10,055
9,630
Masters
863
893
933
945
998
1,080
1,098
1,076
1,046
977
Advanced Graduate
279
318
282
267
253
272
270
304
292
266
Unclassified
Total Undergraduate
Professional
Totals
NA
11,425
NA
11,006
NA
11,016
NA
10,835
NA
11,107
2
NA
11,365
NA
11,571
NA
11,681
NA
11,393
NA
10,873
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Ten Year Headcount Enrollment Projections
Fall 2013Through Fall 2022 (with Fall 2012 Actual)
Student Level
Actual
2012
Lower Division
4,329
4,545
4,728
4,764
4,779
4,811
4,861
4,914
4,966
5,019
5,072
Upper Division
6,326
6,393
6,453
6,652
6,873
7,019
7,100
7,151
7,199
7,246
7,294
Total Undergraduate
10,655
10,938
11,181
11,416
11,652
11,830
11,961
12,065
12,165
12,265
12,366
1,618
1,477
1,398
1,353
1,327
1,313
1,305
1,300
1,297
1,296
1,295
Graduate
Professional
Totals
NA
12,273
2013
NA
12,415
2014
NA
12,579
2015
2016
NA
12,769
NA
12,979
3
2017
NA
13,143
2018
NA
13,266
2019
NA
13,365
2020
NA
13,462
2021
NA
13,561
2022
NA
13,661
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Freshman Class Data
Fall 2003 Through Fall 2012
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
Number of Freshmen
Applications
4,350
4,216
4,360
4,585
4,722
4,584
4,133
4,092
4,666
4,322
Number of Freshmen
Accepted
3,518
3,360
3,422
3,572
3,759
3,841
3,505
3,411
3,607
3,350
Percent of Freshmen
Applicants Accepted
80.9%
79.7%
78.5%
77.9%
79.6%
83.8%
84.8%
83.4%
77.3%
77.5%
Number of Freshmen
Enrolled
1,785
1,700
1,737
1,768
1,991
2,015
1,946
1,978
1,942
1,704
Percent of Accepted
Freshmen Enrolled
50.7%
50.6%
50.8%
49.5%
53.0%
52.5%
55.5%
58.0%
53.8%
50.9%
Average ACT Score
22.9
22.9
22.8
23.0
23.0
22.9
23.0
23.1
23.3
23.1
Average SAT Score
1078
1058
1088
1104
1095
1029
1103
1066
1219
1327
Percent of Freshmen
In Upper 50% of
High School Class
89.3%
89.6%
89.5%
88.7%
89.3%
85.4%
76.4%
78.5%
84.0%
84.6%
Percent of Freshmen
In Upper 30% of
High School Class
58.4%
57.4%
56.7%
57.5%
53.8%
50.6%
52.3%
51.5%
56.2%
57.2%
Percent of Freshmen
In Upper 20% of
High School Class
38.6%
38.5%
39.1%
37.6%
36.1%
37.7%
36.0%
35.1%
36.7%
39.0%
Percent of Freshmen
In Upper 10% of
High School Class
19.1%
19.1%
19.0%
18.2%
17.6%
16.6%
16.9%
17.3%
18.5%
20.0%
Freshmen one-year
Retention Rate
81.4%
80.9%
82.1%
82.3%
83.7%
82.3%
82.5%
82.0%
81.3%
N/A
4
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Graduate Student Data
Fall 2003 Through Fall 2012
2003
2004
2005
867
902
938
1,093
1,143
1,159
1,166
1,113
1,515
1,333
Number of Graduate
Students Accepted
Percentage
540
62.3%
524
58.1%
543
57.9%
636
58.2%
671
58.7%
785
67.7%
640
54.9%
543
48.8%
861
56.8%
811
60.8%
Number of Graduate
Students Enrolled
Percentage
373
69.1%
385
73.5%
410
75.5%
386
60.7%
427
63.6%
403
51.3%
445
69.5%
413
76.1%
616
71.5%
563
69.4%
Number of Graduate
Student Applications
2006
5
2007
2008
2009
2010
2011
2012
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Transfer Student Data
Fall 2003 Through Fall 2012
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
Number of Transfer
Student Applications
1,882
1,855
2,019
1,980
1,932
1,896
1,822
1,929
1,958
1,782
Number of Transfer
Students Accepted
Percentage
1,487
79.0%
1,469
79.2%
1,577
78.1%
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%
Number of Transfer
Students Enrolled
Percentage
1,097
73.8%
1,080
73.5%
1,201
76.2%
1,117
75.1%
1,077
73.4%
1,052
72.3%
1,088
74.0%
1,138
75.7%
1,041
72.5%
985
70.1%
6
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Geographical Distribution of Students
Fall, 2012
--Iowa Residents-Number
Percent
Freshman Class Only
1,563
91.7%
--Iowa Residents-Number
Percent
---Residents of-----Other States--Number
Percent
119
7.0%
---Residents of-----Other States--Number
Percent
----Residents of-----Other Countries-Number
Percent
22
1.3%
----Residents of-----Other Countries-Number
Percent
-----Total----Number
Percent
1,704
100.0%
-----Total----Number
Percent
Total Enrollment:
Undergraduates
Graduates
9,806
1,289
79.9%
10.5%
530
194
4.3%
1.6%
319
135
2.6%
1.1%
10,655
1,618
86.8%
13.2%
11,095
90.4%
724
5.9%
454
3.7%
12,273
100.0%
7
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Full-Time/Part-Time Split of Students on a Headcount Basis
Fall, 2003 through Fall, 2012
--Undergraduate-------Students-----
-----Graduate--------Students----
-------Total----------Students-----
Full
Time
Full
Time
Full
Time
Part
Time
Part
Time
Part
Time
Fall, 2003
89.3%
10.7%
34.0%
66.0%
82.4%
17.6%
Fall, 2004
89.0%
11.0%
42.3%
57.7%
83.2%
16.8%
Fall, 2005
89.3%
10.7%
43.6%
56.4%
83.6%
16.4%
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%
8
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Four, Five and Six Year Graduation Percentages
For Freshmen Classes Entering Fall, 1999 through Fall, 2008
Graduating in
Four Years
Graduating in
Five Years or less
Graduating in
Six Years or less
Fall, 1999
33.5%
60.8%
65.0%
Fall, 2000
33.9%
62.1%
67.1%
Fall, 2001
32.3%
60.0%
65.0%
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%
Fall, 2008
37.8%
Freshman class entering:
9
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Cost of Tuition and Mandatory Fees Per Academic Year
2003-04 through 2012-13
2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
Undergraduate Tuition:
Resident
Non-Resident
4,916
11,874
5,387
12,705
5,602
13,214
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
5,612
12,686
6,173
13,697
6,420
14,244
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
Full Room & Board
4,918
5,261
5,519
5,940
6,268
6,790
6,960
7,120
7,426
7,577
Total for an Undergraduate
Resident Student
9,834
10,648
11,121
12,052
12,458
13,166
13,596
14,128
14,776
15,212
Graduate Tuition:
Resident
Non-Resident
$
Tuition and fees are set annually by the Board of Regents. A residence hall activity fee, currently $20, is assessed in
addition to room and board charges. Students may also be charged differential tuition in the College of Business Administration
and laboratory fees for certain courses.
10
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Residence System Data
Fall, 2003 Through Fall, 2012
Minimum
Design
Capacity
Fall, 2003
Fall, 2004
Fall, 2005
Fall, 2006
Fall, 2007
Fall, 2008
Fall, 2009
Fall, 2010
Fall, 2011
Fall, 2012
4,922
4,917
4,662
4,609
4,609
4,609
4,609
4,612
4,612
4,635
Occupancy
3,818
3,742
3,898
4,041
4,177
4,372
4,369
4,428
4,359
4,123
Double
Room
Rate
Percent
Occupied
77.6%
76.1%
83.6%
87.7%
90.6%
94.9%
94.8%
96.0%
94.5%
89.0%
$
$
$
$
$
$
$
$
$
$
4,918
5,261
5,519
5,940
6,268
6,790
6,960
7,120
7,426
7,577
Note 1: 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.
Note 2: Minimum design capacity and occupancy are for single student housing. Apartment
Housing (Hillside Courts and Jennings Drive) are not included.
11
Percent
Increase
5.99%
6.97%
4.90%
7.63%
5.52%
8.33%
2.50%
2.30%
4.30%
2.03%
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Grants and Contracts Expenditures
2002-03 Through 2011-12
Fiscal
Year
2002-03
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
Expenditures
$
$
$
$
$
$
$
$
$
$
26,901,071
27,316,387
28,471,518
27,301,163
30,003,325
31,184,200
36,358,154
41,413,487
42,463,921
38,241,967
12
Percent
Change
-2.8%
1.5%
4.2%
-4.1%
9.9%
3.9%
16.6%
13.9%
2.5%
-9.9%
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Academic Building Revenue Bonds
Bonds Issued and Outstanding
As of February 28, 2013
Series 1994 (Refunding) (1)
$
Amount
Principal
Balance
Issued
Repaid
Outstanding
2,180,000
1,650,000
530,000
Series 1994 (2)
9,201,461
8,469,377
732,084
Series 1996 (Refunding) (3)
7,600,000
6,945,000
655,000
Series 2002 (Refunding) (4)
4,890,000
3,500,000
1,390,000
Series 2003 (Refunding) (5)
8,465,000
5,775,000
2,690,000
Series 2005 (Refunding) (6)
5,110,000
2,300,000
2,810,000
Series 2005 (7)
12,800,000
1,470,000
11,330,000
Series 2007 (8)
8,000,000
500,000
7,500,000
Series 2008 (9)
12,000,000
75,000
11,925,000
Series 2009 (10)
13,860,000
-
13,860,000
84,106,461
30,684,377
53,422,084
$
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 1988.
(4)
Purpose: To provide funds to refund the Academic Building Revenue Bonds, Series UNI 1991.
(5)
Purpose: To provide funds to refund the Academic Building Revenue Bonds, Series UNI 1992 and UNI 1993.
(6)
Purpose: To provide funds to refund the Academic Building Revenue Refunding Bonds, Series UNI 1995.
(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 University's Science Buildings and Russell Hall.
(9)
Purpose: To provide funds to renovate and equip the Electrical Distribution Loop System Phase II, Sabin Hall, and
deferred maintenance projects.
(10) 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 February 28, 2013
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 1995 (14)
5,810,000
5,810,000
-
Series 2003A (Refunding) (15)
4,225,000
4,225,000
-
$88,285,000
88,285,000
-
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 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.
(15) 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
2002-03 Through 2011-12
Fiscal
Year
Pledged
General
Fund
Tuition
Maximum
Debt
Service
Maximum
Debt Service
Ratio
2002-03
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
$ 47,670,082
$ 54,446,783
$ 57,835,715
$ 58,158,455
$ 61,801,075
$ 63,770,724
$ 67,272,293
$ 71,581,019
$ 76,542,266
$ 80,775,769
$4,294,025
$4,824,025
$4,772,450
$5,391,685
$5,900,854
$6,287,353
$7,116,493
$7,116,493
$6,905,283
$6,492,948
11.10
11.29
12.12
10.79
10.47
10.14
9.45
10.06
11.08
12.44
to 1
to 1
to 1
to 1
to 1
to 1
to 1
to 1
to 1
to 1
The bond indenture requires coverage of 1.25 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 tuition income plus tuition discount divided by maximum
annual debt service. Tuition income plus tuition discount in 2011-12 was
$80,775,769 and the maximum annual debt service was $6,492,948.
Coverage was 12.44 times maximum annual debt service
Please reference Note AA 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 February 28, 2013
Amount
Issued
Principal
Repaid
Balance
Outstanding
Dormitory Revenue Bonds Outstanding
Series 2010
Series 2010A
Series 2010B
Series 2011
Series 2012
$
$
4,255,000
16,790,000
10,160,000
24,870,000
13,810,000
69,885,000
750,000
1,210,000
900,000
2,860,000
3,505,000
15,580,000
9,260,000
24,870,000
13,810,000
67,025,000
Dormitory Revenue Bonds Retired
Series 1964
Series 1965-C
Series 1967-C
Series 1992
Series 1999
Series 2000
Series 2002
Series 2003
$
$
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
-
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 2011-12 was $12,703,000 and
the maximum annual debt service was $6,116,000. Coverage was 2.08 times maximum
annual debt service.
Please reference Note AA 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 February 28, 2013
Amount
Issued
Principal
Repaid
Balance
Outstanding
Field House Revenue Bonds Outstanding
Series 2004
Series 2005 (Refunding)
Series 2011 (Refunding)
$
$
10,000,000
7,465,000
3,610,000
21,075,000
4,505,000
2,470,000
285,000
7,260,000
5,495,000
4,995,000
3,325,000
13,815,000
Field House Revenue Bonds Retired
Series 1997
Series 2001
$
$
Amount
Issued
Principal
Repaid
9,150,000
5,625,000
14,775,000
9,150,000
5,625,000
14,775,000
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 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 2011-12 was $1,627,000 and the System Fund balance was $7,652,000.
Annual debt service was $1,597,000. Coverage was 5.81 times annual debt service.
Please reference Note AA 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 February 28, 2013
Amount
Issued
Principal
Repaid
Balance
Outstanding
Student Union Revenue Bonds Outstanding
Series 2011 Refunding
$ 8,425,000
755,000
7,670,000
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 2011-12 was $1,321,000 and the System Fund balance was $1,961,000,
Annual debt service was $957,000. Coverage was 3.43 times annual debt service.
Please reference Note AA 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 February 28, 2013
Amount
Issued
Principal
Repaid
Balance
Outstanding
Student Health System Revenue Bonds
Series 2004
$ 3,875,000
1,235,000
2,640,000
The Series 2004 bonds were issued on March 1, 2004 to expand the Student Health Center
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 2011-12 was $228,000, the System Fund balance was $1,872,000.
Annual debt service was $282,000. Coverage was 7.45 times annual debt service.
Please reference Note AA 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 February 28, 2013
Year
Ended
June 30
Academic
Buildings
Total
Residence
System
Total
6,339,697.52
6,127,827.50
6,492,947.50
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
4,959,380.21
6,769,415.01
6,749,590.01
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
-
1,574,391.26
1,576,813.76
1,601,918.76
1,604,313.76
1,593,738.76
1,591,370.00
1,595,320.00
1,605,585.00
1,602,585.00
1,605,485.00
594,280.00
600,300.00
-
895,225.00
896,425.00
902,325.00
897,825.00
894,450.00
886,950.00
889,000.00
895,300.00
895,700.00
870,350.00
-
281,353.76
280,578.76
284,278.76
282,343.76
285,031.26
282,087.50
283,687.50
284,667.50
285,180.00
289,980.00
288,760.00
287,100.00
-
14,050,047.75
15,651,060.03
16,031,060.03
13,420,650.03
13,555,872.53
13,608,427.51
13,231,977.51
13,269,795.01
12,330,120.01
11,100,085.01
9,210,266.27
7,134,642.51
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
$
82,418,823.80
87,297,204.06
17,146,101.30
8,923,550.00
3,415,048.80
199,200,727.96
Required
Debt Service
Reserve
$
6,492,947.50
6,115,950.71
2,249,274.58
842,500.00
289,980.00
15,990,652.79
2013
2014
2015
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 February 28, 2013
Year
Ended
June 30
2013
2014
2015
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
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
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
253,407.15
253,407.15
253,407.16
253,407.16
109,529.00
109,529.00
109,529.01
109,529.01
109,529.02
109,529.01
109,529.00
109,529.01
109,529.00
109,529.00
109,529.00
109,529.02
377,936.15
377,936.15
377,936.17
377,936.17
124,529.02
124,529.01
124,529.00
124,529.01
124,529.00
124,529.00
124,529.00
124,529.02
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
$
425,000.00
1,013,628.62
1,314,348.08
2,752,976.70
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 Assets
June 30, 2012 and 2011
ASSETS
Current Assets
Cash and cash equivalents-Note B
Investments-Note B
Accounts receivable, net-Note C
Loans receivable, net-Note E
Interest receivable
Due from governmental agencies-Note F
Prepaid expenses-Note G
Inventories-Note H
Other current assets
Total Current Assets
$
Noncurrent Assets
Investments-Note B
Accounts receivable, net-Note C
Loans receivable, net-Note E
Prepaid expenses-Note G
Debt issuance costs-Note V
Capital assets, Nondepreciable-Note I
Capital assets, Depreciable-Note I
Accumulated depreciation/amortization-Note I
Total Noncurrent Assets
Total Assets
LIABILITIES
Current Liabilities
Accounts payable
Salaries and wages payable-Note J
Compensated absences payable-Note K
Unpaid claims liability-Note U
Unearned revenue-Note G
Accrued interest payable
Long-term debt-Note N
Deposits
Total Current Liabilities
Noncurrent Liabilities
Accounts payable
Compensated absences payable-Note K
Refundable advances on student loans-Note Q
Long-term debt-Note N
Net OPEB liability-Note P
Total Noncurrent Liabilities
Total Liabilities
NET ASSETS
Invested in capital assets, net of related debt
Restricted
Nonexpendable
Scholarships and fellowships
Expendable
Scholarships and fellowships
Loans
Capital projects
Debt service
Other
Unrestricted
Total Net Assets
$
22
2012
2011
33,627,411
65,832,320
8,440,549
2,019,802
535,991
6,879,090
3,805,718
4,707,261
203,966
126,052,108
27,693,620
47,096,207
7,100,449
2,066,871
648,459
6,892,794
3,814,881
4,368,483
92,500
99,774,264
38,592,309
8,079,207
244,103
2,089,272
43,976,013
568,996,574
(240,593,418)
421,384,060
547,436,168
61,992,250
282,102
8,267,485
83,413
1,905,434
29,687,696
547,993,301
(225,979,680)
424,232,001
524,006,265
9,780,940
764,757
5,004,600
1,733,112
4,089,166
3,578,529
19,044,171
4,439,562
48,434,837
14,634,362
650,735
5,293,800
1,610,522
4,369,437
3,143,013
11,234,240
3,296,100
44,232,209
2,187,170
5,424,858
9,254,876
147,319,317
6,500,722
170,686,943
219,121,780
3,583,081
5,292,724
9,554,301
125,898,381
3,894,959
148,223,446
192,455,655
225,621,358
226,532,511
615,895
615,895
333,111
2,876,167
13,184,418
24,351,398
362,375
60,969,666
328,314,388
389,104
2,978,851
5,706,625
24,203,865
356,193
70,767,566
331,550,610
UNIVERSITY OF NORTHERN IOWA
Statement of Revenues, Expenses, and Changes in Net Assets
Years Ended June 30, 2012 and 2011
2012
2011
66,242,804
111,978
39,370,649
8,237,789
501,925
58,742,116
173,207,261
63,415,145
120,433
42,887,829
7,998,091
992,772
56,156,143
171,570,413
EXPENSES
Operating Expenses
Instruction
Research
Public service
Academic support
Student services
Institutional support
Operation and maintenance of plant
Scholarships and fellowships
Depreciation/amortization
Loan cancellations and write-offs
Auxiliary enterprises
Total Operating Expenses
80,291,964
2,951,957
22,152,465
24,855,928
8,210,073
29,683,285
20,441,078
6,470,804
16,105,032
288,141
50,787,350
262,238,077
78,570,575
3,106,240
25,396,214
25,413,636
7,280,432
23,535,960
21,884,211
7,150,385
15,270,614
137,397
48,858,614
256,604,278
Operating (Loss)
(89,030,816)
(85,033,865)
NONOPERATING REVENUES (EXPENSES)
State appropriations
Gifts, grants and contracts
Investment return
Interest expense
Amortization of bond issuance costs
Loss on disposal of capital assets
Net Nonoperating Revenues
(Loss) Before Other Revenues
77,765,014
3,701,740
1,921,916
(6,258,688)
(146,849)
(118,360)
76,864,773
(12,166,043)
82,683,919
3,179,412
3,023,277
(5,924,235)
(133,446)
82,828,927
(2,204,938)
7,016,578
1,913,243
8,929,821
(3,236,222)
5,808,082
3,412,442
9,220,524
7,015,586
REVENUES
Operating Revenues
Tuition and fees (net of scholarship allowances of
$25,482,683 for 2012, $24,139,088 for 2011)
Receipts from other entities
Grants and contracts
Sales, rents and services
Miscellaneous
Auxiliary enterprises
Total Operating Revenues
$
OTHER REVENUES
Capital appropriations
Capital contributions and grants
Total Other Revenues
Change in Net Assets
NET ASSETS
Net assets, beginning of year
Net assets, end of year
$
23
331,550,610
324,535,024
328,314,388
331,550,610
UNIVERSITY OF NORTHERN IOWA
Statement of Cash Flows
Years Ended June 30, 2012 and 2011
2012
2011
62,317,071
39,908,226
2,000,934
57,857,569
(148,082,440)
(23,676,867)
(6,536,536)
(2,305,042)
(50,863,739)
11,476,302
(22,513,959)
(80,418,481)
63,798,972
43,671,786
1,872,098
56,323,025
(136,931,011)
(27,479,760)
(6,910,556)
(2,000,568)
(49,214,904)
8,660,940
(23,808,915)
(72,018,893)
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
Non capital gifts
Net Cash Provided by Noncapital Financing Activities
77,719,987
70,275,229
(70,304,236)
4,495,010
(2,635,547)
3,893,170
83,443,613
82,548,847
75,841,139
(75,899,873)
2,282,558
(2,214,251)
2,494,792
85,053,212
CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES
Capital appropriations received
Capital gifts and grants received
Acquisition 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
6,991,873
1,959,324
(38,593,839)
(18,149,239)
(5,999,683)
49,745,651
301,665
(330,999)
(4,075,247)
5,808,082
3,418,608
(33,932,552)
(11,618,353)
(6,095,835)
20,207,097
179,809
(564,655)
(22,597,799)
CASH FLOWS FROM INVESTING ACTIVITIES
Interest and dividends on investments
Proceeds from sale and maturities of investments
Purchase of investments
Net Cash Provided by Investing Activities
1,093,507
73,894,260
(68,003,861)
6,983,906
1,990,041
118,777,244
(107,740,562)
13,026,723
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
Other operating receipts
Other operating payments
Net Cash Used by Operating Activities
$
NET INCREASE IN CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR
CASH AND CASH EQUIVALENTS, END OF YEAR
$
24
5,933,791
3,463,243
27,693,620
24,230,377
33,627,411
27,693,620
UNIVERSITY OF NORTHERN IOWA
Statement of Cash Flows
Years Ended June 30, 2012 and 2011
2012
2011
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 compensated absences
(Increase)/Decrease in accounts receivable
(Increase)/Decrease in loans receivable
(Increase)/Decrease in due from governmental agencies
(Increase)/Decrease in inventories
(Increase)/Decrease in prepaid expenses
(Increase)/Decrease in other assets
Increase/(Decrease) in accounts payable
Increase/(Decrease) in salaries and wages payable
Increase/(Decrease) in unearned revenue
Increase/(Decrease) in other liabilities
Net Cash Used By Operating Activities
$
(89,030,816)
(85,033,865)
16,105,032
(157,066)
(1,906,035)
235,348
732,155
(338,778)
(78,612)
111,569
(5,640,295)
(5,766)
(288,602)
(156,615)
15,270,614
1,162,485
(264,625)
(106,123)
507,429
(827,181)
582,784
207,036
(3,895,586)
46,616
427,082
(95,559)
(80,418,481)
(72,018,893)
Noncash Capital, Financing and Investing Activities:
Equipment with a fair market value of $104,658 in 2012 and $80,856 in 2011 was donated to the University.
Bond issuance costs of $453,332 in 2012 and $616,610 in 2011 were deducted from the bond proceeds.
These costs were capitalized and will be amortized over the debt repayment period.
Net unrealized gain increased the fair market value of the University's investments $1,203,425 in 2012
and $1,440,523 in 2011.
25
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Staff Statistics (Full Time Employees)
September, 2005 through September, 2012
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
2005
2006
2007
2008
2009
2010
2011
2012
15
47
34
15
44
35
16
50
37
15
53
42
15
57
40
13
50
35
13
46
35
13
47
35
160
205
143
48
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
1
1
0
49
523
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
46
9
232
33
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
64
4
64
4
58
4
59
4
56
4
55
0
55
0
56
0
215
22
213
26
218
27
223
29
223
26
219
25
214
27
203
25
1,851
1,843
1,847
1,890
1,883
1,842
1,894
1,801
26
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Highest Degrees Held by Faculty (All Persons of Faculty Rank)
Fall, 2003 through Fall, 2012
Ph.D.
Fall, 2003
Fall, 2004
Fall, 2005
Fall, 2006
Fall, 2007
Fall, 2008
Fall, 2009
Fall, 2010
Fall, 2011
Fall, 2012
67.7%
65.0%
63.0%
63.6%
64.3%
59.4%
62.6%
62.9%
64.9%
66.2%
Ed.S.
MA/MS
0.1%
0.1%
0.4%
0.2%
0.4%
0.2%
0.2%
0.2%
0.4%
0.4%
28.6%
30.6%
29.6%
30.5%
30.5%
33.0%
31.7%
31.1%
30.1%
30.5%
B.A./B.S.
3.6%
4.3%
7.0%
5.7%
4.8%
7.4%
5.5%
5.8%
4.6%
2.9%
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, 2003 through Fall, 2012
Tenure
Fall, 2003
Fall, 2004
Fall, 2005
Fall, 2006
Fall, 2007
Fall, 2008
Fall, 2009
Fall, 2010
Fall, 2011
Fall, 2012
54.6%
56.8%
53.8%
56.3%
56.6%
54.1%
57.7%
56.2%
56.0%
57.4%
Probation Temporary
22.2%
17.9%
17.4%
16.1%
15.0%
15.4%
15.7%
14.8%
15.3%
14.2%
27
20.2%
20.7%
23.0%
22.7%
23.6%
25.8%
21.7%
24.1%
21.0%
23.7%
Term
3.0%
4.6%
5.8%
4.9%
4.8%
4.7%
4.9%
4.9%
7.7%
4.7%
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 February 28, 2013
Bargaining
Unit
Number
Employees
Represented
Bargaining
Agent
End of
Current
Contract
Faculty
United Faculty
678
June 30, 2013
Regents Merit System
AFSCME-Clerical
AFSCME-Blue Collar
AFSCME-Security
AFSCME-Technical
220
247
17
20
June 30, 2013
June 30, 2013
June 30, 2013
June 30, 2013
AFSCME-Total
504
28
University of Northern Iowa
Notes to Financial Statements
June 30, 2012
Retirement Programs
Teachers Insurance and Annuity Association - The University contributes to the Teachers
Insurance and Annuity Association (TIAA) retirement program, which is a defined contribution
plan. TIAA administers the retirement plan for the University. The defined contribution retirement
plan provides individual annuities for each plan participant. The Board of Regents, State of Iowa
establishes and amends the plan’s provision and contribution requirements. 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. Contributions made by both employer and
employee vest immediately. As specified in the contract with TIAA, each employee through the
fifth year of employment contributes 3 1/3% of the first $4,800 of earnings and 5% on the balance
of earnings. The University, through the fifth year of employment, is required to contribute 6 2/3%
of the first $4,800 of earnings and 10% on earnings above $4,800. Upon completion of five years
of service, the participant contributes 5% and the University 10% on all earnings. The Board
of Regents, State of Iowa approved a temporary reduction of the University required contribution
from November 2009 through June 2011. During the period of the temporary deduction, the
University, through the fifth year of employment, was required to contribute 5 1/3% of the first
$4,800 of earnings and 9% on earnings above $4,800 in fiscal year 2011. Upon completion of five
years of service, the University was required to contribute 10% in fiscal year 2012 on all earnings.
During fiscal years 2012 and 2011, the University's required and actual contribution amounted to
$11,264,094 and $9,858,033, respectively. During fiscal years 2012 and 2011, the employees'
required and actual contribution amounted to $5,328,211 and $5,173,519, respectively.
Iowa Public Employees’ Retirement System - The University contributes to the Iowa Public
Employees’ Retirement System (IPERS), which is a cost-sharing multiple-employer defined benefit
pension plan administered by the State of Iowa. IPERS provides retirement and death benefits,
which are established by State statute to plan members and beneficiaries. IPERS issues a publicly
available financial report that may be obtained by writing to IPERS, P.O. Box 9117, Des Moines,
Iowa 50306-9117.
Plan members were required to contribute 5.38% of their annual covered earnings and the
University was required to contribute 8.07% of annual covered earnings for the year ended
June 30, 2012. For the years ended June 30, 2011, and 2010, plan members were required to
contribute 4.5% and 4.3%, respectively, of the annual covered earnings and the University was
required to contribute 6.95% and 6.65%, respectively, of annual covered earnings. Contribution
requirements are established by State statute. The University's contribution to IPERS for the years
ended June 30, 2012, 2011, and 2010 were $1,046,545, $769,421 and $614,811, respectively, equal
to the annual required contributions.
29
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Schedule of State Appropriations
Year Ended June 30, 2013
and the Four Previous Years
2008-09
2009-10
2010-11
2011-12
2012-13
Note
Operating Appropriations:
General Educational Fund
$
General Educational Fund
Recycling & Reuse Transfer Center
Economic Development
Real Estate Education
Math & Science Education Collaborative
R & D School Engineering Study
Amer. Recov. & Reinv. Act (ARRA)
South West Iowa Continuing Educ
Grow Iowa Values Fund
Regents Innovation Fund
95,792,085
220,430
583,393
157,600
3,940,000
110,018
767,858
-
80,385,388
181,858
483,699
130,022
3,250,549
31,500
12,376,464
90,766
855,000
-
77,549,809
1,456,118
181,858
610,674
130,022
1,800,000
90,766
729,600
-
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
$
101,571,384
97,785,246
82,548,847
77,719,987
87,771,867
$
5,929,103
-
5,776,126
-
5,808,082
-
5,767,007
380,000
6,279,038
-
3
2,3
-
-
-
1,000,000
7,786,000
5
5,929,103
5,776,126
5,808,082
7,147,007
14,065,038
2
2
1,2
4
4
Capital Appropriations:
Tuition Replacement
ADA & Fire Safety
Bartlett Hall Renovation/Baker
Hall Demolition
$
Notes:
1. American Recovery and Reinvestment Act funds were appropriated to the State of Iowa. Iowa General Assembly appropriated
ARRA funds to the University.
2. One-time funding.
3. Appropriation to Board of Regents. Allocated based on institutional need.
4. The Grow Iowa Values Fund was re-named the Regents Innovation Fund.
5. The Iowa General Assembly appropriated $21.0 million over four years for Bartlett Hall Renovation/Baker Hall Demolition.
30
UNIVERSITY OF NORTHERN IOWA FOUNDATION
Combined Statements of Financial Position
as of June 30, 2012 and 2011
ASSETS
2012
Current Assets:
Cash and cash equivalents
Investments
Pledges receivable, net-Note D
Other receivables
Other
$
2011
69,442
13,113,082
2,265,840
246,305
94,041
129,200
14,753,728
2,604,916
24,576
75,454
15,788,710
17,587,874
5,074,850
73,857,152
1,312,784
879,066
106,632
5,365,903
74,917,126
1,259,585
971,898
166,742
81,230,484
82,681,254
$
97,019,194
100,269,128
$
400,612
294,800
277,735
103,676
71,878
689,536
587,281
285,474
103,676
69,132
1,148,701
1,735,099
1,566,157
825,169
452,562
282,102
1,649,922
851,410
462,607
Total Noncurrent Liabilities
2,843,888
3,246,041
Total Liabilities
3,992,589
4,981,140
4,201,302
28,995,819
59,829,484
6,223,395
33,258,299
55,806,294
93,026,605
95,287,988
97,019,194
100,269,128
Total Current Assets
Noncurrent Assets:
Pledges receivable, less current portion
Long-term investments
Life insurance cash value
Building and equipment, net
Other
Total Noncurrent Assets
Total Assets
LIABILITIES AND NET ASSETS
Current Liabilities:
Accounts payable, accrued expenses and other liabilities
Pledges payable-Note M
Annuities payable
Annuity trusts payable
Unitrusts payable
Total Current Liabilities
Noncurrent Liabilities:
Pledges payable, less current portion
Annuities payable, less current portion
Annuity trusts payable, less current portion
Unitrusts payable, less current portion
Net Assets:
Unrestricted
Temporarily restricted-Note T
Permanently restricted-Note T
Total Net Assets
Total Liabilities and Net Assets
$
31
UNIVERSITY OF NORTHERN IOWA FOUNDATION
Combined Statements of Activities
Years Ended June 30, 2012
Unrestricted
Net Assets
Revenue, support and classifications:
Contribution revenue
Investment return
Miscellaneous income
Reclassifications attributed to
underwater endowments
Donor redesignations
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
Total expenses and adjustments
Change in net assets
Net assets, beginning of year
Net assets, end of year
$
Temporarily
Restricted
Net Assets
Permanently
Restricted
Net Assets
Total
Net
Assets
958,156
(499,555)
59,823
7,757,286
(594,783)
12,121
4,011,951
56,982
-
(408,563)
1,528,416
8,763,305
408,563
(1,749,286)
(8,763,305)
220,870
-
-
10,401,582
(2,929,404)
4,289,803
11,761,981
3,879,470
5,460,639
916,111
2,045,857
949
92,833
1,311,238
-
26,672
-
3,879,470
5,460,639
916,111
2,045,857
1,338,859
92,833
27,816
21,838
239,941
289,595
12,423,675
1,333,076
266,613
14,023,364
(2,022,093)
(4,262,480)
4,023,190
(2,261,383)
6,223,395
33,258,299
55,806,294
95,287,988
4,201,302
28,995,819
59,829,484
93,026,605
32
12,727,393
(1,037,356)
71,944
UNIVERSITY OF NORTHERN IOWA FOUNDATION
Combined Statements of Activities
Years Ended June 30, 2011
Revenue, support and classifications:
Contribution revenue
Investment return
Miscellaneous income
Reclassifications attributed to
underwater endowments
Donor redesignations
Net assets released from restrictions
$
Total revenue, support
and reclassifications
Unrestricted
Net Assets
Temporarily
Restricted
Net Assets
Permanently
Restricted
Net Assets
Total
Net
Assets
1,283,291
5,447,496
49,074
7,504,509
6,274,679
11,193
11,896,379
826,962
-
20,684,179
12,549,137
60,267
(552,298)
1,200,274
6,278,519
552,298
(1,828,463)
(6,278,519)
628,189
-
-
13,706,356
6,235,697
13,351,530
33,293,583
3,335,349
3,893,134
886,108
1,958,881
11,673
93,151
161,786
-
16,249
-
3,335,349
3,893,134
886,108
1,958,881
189,708
93,151
8,081
35,519
238,124
281,724
10,186,377
197,305
254,373
10,638,055
Change in net assets
3,519,979
6,038,392
13,097,157
22,655,528
Net assets, beginning of year
2,703,416
27,219,907
42,709,137
72,632,460
6,223,395
33,258,299
55,806,294
95,287,988
Expenses and Adjustments:
Scholarship expenses
Programming expenses
Administrative expenses
Fundraising expenses
Uncollectible pledges
Depreciation expense
Present value liability actuarial
adjustment
Total expenses and adjustments
Net assets, end of year
$
33
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
UNI Foundation-Statements of Activities Information
Ten Years Ended June 30, 2012
2002-03
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
$
Public
Support
Revenue
7,632,693
10,028,353
9,602,331
8,612,375
8,682,789
14,357,954
8,871,816
14,240,782
20,684,179
12,727,393
795,903
8,693,381
5,462,740
8,000,324
10,990,294
(2,186,131)
(14,914,020)
8,528,000
12,609,404
(965,412)
Total
8,428,596
18,721,734
15,065,071
16,612,699
19,673,083
12,171,823
(6,042,204)
22,768,782
33,293,583
11,761,981
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
UNI Foundation-Statements of Financial Position Information
Ten Years Ended June 30, 2012
Net
Assets
Liabilities
Assets
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
$
68,697,596
80,276,129
86,213,841
83,501,092
88,830,577
88,251,749
68,250,535
78,046,400
100,269,128
97,019,194
3,602,280
18,767,030
20,439,439
9,899,375
11,014,996
9,054,421
6,539,363
5,413,940
4,981,140
3,992,589
34
65,095,316
61,509,099
65,774,402
73,601,717
77,815,581
79,197,328
61,711,172
72,632,460
95,287,988
93,026,605
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
UNI Foundation-Analysis of Alumni Giving
Ten Years Ended June 30, 2012
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
2002-03
88,019
80,937
$3,192,418
10,261
$311
11.7%
12.7%
2003-04
89,617
84,738
$4,089,987
9,881
$414
11.0%
11.7%
2004-05
90,797
86,883
$4,141,475
11,343
$365
12.5%
13.1%
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%
35
UNIVERSITY OF NORTHERN IOWA
Endowment Statistics
Five Years Ended June 30, 2012
June 30, 2008
June 30, 2009
June 30, 2010
June 30, 2011
June 30, 2012
$56,110,747
11,107
$5,052
-3.81%
$43,226,179
11,365
$3,803
-21.50%
$50,033,967
11,571
$4,324
14.82%
$68,826,959
11,681
$5,892
18.45%
$67,927,125
11,393
$5,962
-1.32%
$8,895,992
11,107
$801
-8.30%
$6,686,262
11,365
$588
-18.20%
$6,954,419
11,571
$601
10.30%
$7,950,913
11,681
$681
21.63%
$7,540,078
11,393
$662
0.96%
$65,006,739
11,107
$5,853
$49,912,441
11,365
$4,392
$56,988,386
11,571
$4,925
$76,777,872
11,681
$6,573
$75,467,203
11,393
$6,624
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
2002-03 Through 2011-12
Fiscal
Year
2002-03
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
Revenue
$
$
$
$
$
$
$
$
$
$
7,331,000
7,504,622
7,023,734
6,232,465
6,007,080
7,036,719
7,654,491
10,913,366
12,213,433
11,466,659
37
Percent
Change
13.8%
2.4%
-6.4%
-11.3%
-3.6%
17.1%
8.8%
42.6%
11.9%
-6.1%