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Summary
Susquehanna University’s solid financial position strengthened during the period July 1, 2005 to June 30, 2006.
The institution’s net assets increased by $14,000,000 to more than $199,000,000, thanks to a strong operating margin of $2,800,000, almost $4,000,000 in endowment and capital gifts, and more than $8,000,000 in non-operating investment returns.
At June 30, 2006, Susquehanna’s endowment totaled $110,300,000, with another $53,000,000 in operating cash, restricted cash, reserves and unspent borrowings outside of the endowment.
Susquehanna took advantage of extremely favorable interest rates and the university’s strong credit rating to refinance $12,200,000 in existing debt and to borrow $19,600,000 in new funds to finance capital projects.
The institution’s financial strength provides it with flexibility in responding to opportunities and challenges.
Michael A. Coyne, C.P.A.
Vice President for Finance and Treasurer
Source: 2006 audited financial statements, KPMG LLP. KPMG has issued an unqualified opinion on the financial statements of Susquehanna University for the years ended June 30, 2006 and 2005. To obtain a complete version of financial statements, click here, or write to: Susquehanna University Treasurer’s Office, 514 University Avenue, Selinsgrove, PA 17870 or call 570.372.4315.
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