tailieunhanh - Statements of Financial Position As of June 30 or December 31, 2009 and 2008_part2

Trường Đại học Montana Foundation (UM Foundation) đã báo cáo một sự trở lại đầu tư của một âm 18,1% đầu tư của mình cho FY09. Danh mục đầu tư dài hạn của nó, trong đó bao gồm các quỹ ưu đãi quản lý thay mặt cho trường Đại học, báo cáo sự quay trở lại tiêu cực của 19,7%. | A-4 The University of Montana Foundation UM Foundation reported an investment return of a negative on its investments for FY09. Its long term investment portfolio which includes endowed funds managed on behalf of the University reported a negative return of . The magnitude of the investment loss pushed the value of a material portion of the UM Foundation-held endowments below the original gift value which caused a cessation of spending from these endowments. Despite this significant challenge actions by the University and the UM Foundation served to mitigate the impact of this situation. In fact scholarship and academic support to the University were at record levels. The financial highlights for fiscal year 2008 were In accordance with the College Affordability Plan CAP announced by the Governor in September of 2006 and approved by the 2007 Session of the Montana Legislature tuition was held at levels in effect for 2007 for all the Campuses of The University of Montana for Montana resident students. Investment earnings decreased by million as compared to the prior year. The decrease can be attributed to the following factors 1 The fair value of endowed equity investments decreased by million 2 the yield on investments declined due to lower interest rates in the market place and 3 about 12 million from bond proceeds was utilized in new construction. Long term obligations and advances from primary government decreased by million. The University issued new long-term debt totaling 343 000. Net assets of The University increased by million as a primary result of capital grants gifts related to the addition of new facilities construction. USING THE FINANCIAL STATEMENTS The University s financial statements consist of the following three statements Statement of Net Assets Statement of Revenues Expenses and Changes in Net Assets and Statement of Cash Flows. A discussion of each of the individual statements follows. Some key points to be aware of