Consolidated Statements of Revenues, Expenses and Changes in Net Assets
Fiscal Year 1997 to 1999
                 
                 
        1997   1998   1999
        Actual   Actual   Budget
  REVENUES              
  Tuition and Fees     $238,948   $255,247   $264,306
  Tuition Discounts     (56,776)   (57,849)   (61,350)
        _________   ________   ________
  Net Tuition and Fees     182,172   197,398   202,956
  Commonwealth Appropriation     148,565   153,182   158,205
  Grants and Contracts     252,163   265,279   264,306
  Gifts and Pledges     46,374   37,540   47,568
  Endowment Earnings     19,687   22,794   23,913
  Investment Income     24,154   34,252   31,562
  Sales and Services, Rental Revenue and Other     162,314   177,768   180,052
        _________   ________   ________
  TOTAL REVENUES     $835,429   $888,213   $908,562
        _________   ________   ________
        _________   ________   ________
                 
  EXPENSES              
  (see these figures also expressed as functional expenses below)              
  Salaries and Wages     $372,813   $405,973   $399,503
  Fringe Benefits     93,400   92,639   104,210
        _________   ________   ________
  Total Compensation     466,213   498,612   503,713
  Supplies     41,156   46,393   47,628
  Business and Professional     94,019   102,189   103,979
  Utilities     23,379   23,678   25,629
  Depreciation Expense     59,203   62,695   62,334
  Interest Expense     17,446   25,966   25,418
  Other     80,972   84,724   96,392
        _________   ________   ________
  TOTAL EXPENSES     $782,388   $844,257   $865,093
        _________  ________   ________
        _________   ________   ________
                 
                 
  EXCESS OF OPERATING REVENUES OVER EXPENSES     $53,041   $43,956   $43,469
                 
NON-OPERATING REVENUES              
  Realized Gains on Investments     $53,977   $89,732   --
  Unrealized Gains on Investments     30,793   6,060   --
        _________   _________   _________
  TOTAL NON-OPERATING REVENUES     $84,770   $95,792   --
        _________   _________   _________
        _________   _________   _________
                 
  INCREASE IN NET ASSETS     $137,811   $139,748   $43,469
                 
  NET ASSETS, BEGINNING OF YEAR     $1,127,171   $1,264,982   $1,404,730
                 
  NET ASSETS, END OF YEAR     $1,264,982   $1,404,730   $1,448,199
        _________   _________   _________
        _________   _________   _________
                 
  FUNCTIONAL EXPENSES (based on expenses shown above)              
        $260,578   $272,904    
        206,080 230,191    
        30,698   31,687    
        46,099   49,320    
        31,518   32,880    
        50,162   52,779    
        74,337   91,676    
        14,833   15,221    
        68,083   67,599    
        ________ ________    
  TOTAL FUNCTIONAL EXPENSES     $782,388   $844,257    
        ________ ________    
        ________ ________    
                 
                 
                 
                 
  Note: Actual and budgeted figures are for the total University and are reported in thousands.
                 
  Sources: Office of the Controller, fiscal years 1997 and 1998, Financial Report,1997-98.
  Office of Budget, Planning and Analysis, Fiscal Year 1999, Fiscal Year 1999 Budget, approved in July 1998 by the University's Budget
  Committee and the University's Board of Trustees.

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Office of Institutional Research
University of Pittsburgh Fact Book, 1998-99