Johns Hopkins University Financial Report 1999

Statement of Activities
Year ended June 30, 1998 (in thousands)

	Unrestricted Net Assets	Temporarily Restricted Net Assets	Permanently Restricted Net Assets	Total
Operating revenues:
Tuition and fees, net	$ 172,419	-	-	172,419
Grants, contracts and similar agreements	986,925	-	-	986,925
Clinical services	169,170	-	-	169,170
Reimbursements from affiliated institutions	99,625	-	-	99,625
Contributions	33,302	30,692	-	63,994
Investment income	69,920	-	-	69,920
Maryland State aid	13,621	-	-	13,621
Sales and services of auxiliary enterprises	40,929	-	-	40,929
Other	47,542	-	-	47,542
Net assets released from restrictions	39,141	(39,141)	-	-

Total operating revenues	1,672,594	(8,449)	-	1,664,145

Operating expenses:
Compensation and benefits	926,893	-	-	926,893
Contractual services	379,580	-	-	379,580
Supplies, materials and other	183,274	-	-	183,274
Depreciation of property and equipment	76,579	-	-	76,579
Interest	30,740	-	-	30,740
Travel	37,516	-	-	37,516

Total operating expenses	1,634,582	-	-	1,634,582

Excess of operating revenues over expenses	38,012	(8,449)	-	29,563
Nonoperating revenues, gains and losses:
Contributions	-	21,288	12,528	33,816
Investment income	163,762	2,657	12,888	179,307
Loss on disposals of property and equipment	(1,653)	-	-	(1,653)
Net assets released from restrictions	16,028	(16,028)	-	-
Loss on early extinguishments of debt	(8,864)	-	-	(8,864)
Other	161	(1,784)	-	(1,623)

Nonoperating revenues, gains and losses, net	169,434	6,133	25,416	200,983

Increase (decrease) in net assets	207,446	(2,316)	25,416	230,546

Net assets at beginning of year	1,248,184	181,743	514,416	1,944,343

Net assets at end of year	$1,455,630	179,427	539,832	2,174,889

[See accompanying notes to financial statements.]