Johns Hopkins University Financial Report 1999
  
Johns Hopkins University Financial Report 1999
Statements of Cash Flows
Years ended June 30, 1999 and 1998 (in thousands)

  1999 1998
Cash flows from operating activities:
Increase in net assets $ 257,334 230,546
Adjustments to reconcile increase in net
assets to net cash provided by operating activities:
    Depreciation and loss on disposals of property and equipment
 77,545 78,232
    Loss on early extinguishments of debt
 ­ 8,864
    Decrease in accounts receivable, net
 7,725 2,020
    Decrease (increase) in prepaid expenses, deferred charges and other assets
 8,947 (7,089)
    Decrease (increase) in contributions receivable, net
 (53,489) 32,140
    Increase (decrease) in accounts payable and accrued expenses
 (9,515) 27,517
    Increase in payables and deferred revenues under split interest agreements
 1,297 6,362
    Contributions restricted for long-term investment
 (79,460) (66,733)
    Investment income--permanently restricted funds
 (5,439) (12,888)
    Net realized and unrealized gains from investments
 (73,065) (184,322)
    Other, net
 (2,655) 289
 
    Net cash provided by operating activities
 129,225 114,938
Cash flows from investing activities:
    Purchases of investments
 (3,526,577) (1,237,457)
    Proceeds from sales and maturities of investments
 3,412,444 1,168,262
    Purchases of property and equipment
 (100,104) (83,851)
    Disbursements for student loans
 (4,741) (4,875)
    Repayments of student loans
 3,842 3,674
    Change in deposits with bond trustees, net
 37 16,767
 
    Net cash used by investing activities
 (215,099) (137,480)
Cash flows from financing activities:
    Contributions restricted for long-term investment
 79,460 66,733
    Investment income--permanently restricted funds
 5,439 12,888
    Proceeds from borrowings of bonds and notes payable
 ­ 193,191
    Repayments of bonds and notes payable
 (14,229) (217,805)
    Increase in other long-term liabilities
 9,481 8,774
 
    Net cash provided by financing activities
 80,151 63,781
 
    Net increase (decrease) in cash and cash equivalents
 (5,723) 41,239
 
Cash and cash equivalents at beginning of year 104,921 63,682
 
Cash and cash equivalents at end of year $ 99,198 104,921

[See accompanying notes to financial statements.]

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