Consolidated Statements of Revenues, Expenses and Changes in Net Assets
Fiscal Year 1998 to 2000


    1998    1999    2000 
    Actual   Actual   Budget
REVENUES            
Tuition and Fees   $255,247    $270,720    $276,964 
Tuition Discounts   (59,045)   (64,231)   (66,045)
    _________   _________   _________
Net Tuition and Fees   196,202    206,489    210,919 
Commonwealth Appropriation   153,182    158,205    167,609 
Grants and Contracts   266,475    298,264    316,061 
Gifts and Pledges   37,540    83,147    81,382 
Endowment Earnings   22,794    27,269    28,629 
Investment Income   24,388    26,390    27,554 
Sales and Services, Rental Revenue, and Other    168,682    183,801    176,068 
    _________   _________   _________
TOTAL REVENUES   $869,263    $983,565    $1,008,222 
    _________   _________   _________
             
EXPENSES            
(see these figures also expressed as functional expenses below)            
Salaries and Wages   $405,973   $411,327   $425,571
Fringe Benefits   92,639   101,212   107,332
    _________   _________   _________
Total Compensation   498,612   512,539   532,903
Supplies   46,393   50,254   51,960
Business and Professional   102,189   110,195   114,782
Utilities   23,678   23,180   24,154
Maintenance and Facilities' Costs   19,845   21,724   22,939
Depreciation Expense   62,695   62,238   64,896
Interest Expense   18,533   18,115   17,735
Other   53,245   50,104   71,622
    _________   _________   _________
TOTAL EXPENSES   $825,190   $848,349   $900,991
    _________   _________   _________
             
EXCESS OF OPERATING REVENUES OVER EXPENSES   $44,073   $135,216   $107,231
             
NON-OPERATING REVENUES            
Realized Gains on Investments   $89,615   $57,931   -- 
Unrealized Gains on Investments   6,060   (14,346)   -- 
    _________   _________   _________
TOTAL NON-OPERATING REVENUES   $95,675   $43,585   -- 
    _________   _________   _________
             
INCREASE IN NET ASSETS   $139,748   $178,801   $107,231
NET ASSETS, BEGINNING OF YEAR   $1,264,982   $1,404,730   $1,599,254
CUMULATIVE EFFECT OF ADOPTING SFAS NO. 136   --    $15,723   -- 
NET ASSETS, END OF YEAR   $1,404,730   $1,599,254   $1,706,485
    _______   _______   _________
       
             
FUNCTIONAL EXPENSES (based on expenses shown above)            
 Instruction   $270,893    $267,735     
 Research   227,870  253,089     
 Public Service   31,561    29,054     
 Academic Support   54,196    61,675     
 Libraries   31,601    31,797     
 Student Services   52,230    49,532     
 Institutional Support   89,240    86,449     
 Auxiliary Enterprises   67,599    69,018     
    ________ ________    
TOTAL FUNCTIONAL EXPENSES   $825,190    $848,349     
    ________ ________    
             
 
Note: Actual and budgeted figures are for the total University and are reported in thousands. Fiscal year 1998 figures are restated.
             
Source: Office of Budget and Financial Reporting, October 1999.            


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