ML20023D185
| ML20023D185 | |
| Person / Time | |
|---|---|
| Site: | University of Utah |
| Issue date: | 05/12/1983 |
| From: | Brophy J UTAH, UNIV. OF, SALT LAKE CITY, UT |
| To: | Office of Nuclear Reactor Regulation |
| Shared Package | |
| ML19301C314 | List: |
| References | |
| NUDOCS 8305190349 | |
| Download: ML20023D185 (20) | |
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DEPARTMENT OF INDL5m NEERii4G OF UTAH rah.-
May 12, 1983 T0: Director of Nuclear Reactor Regulation U.S. Nuclear Regulator Commission Washington, D.C. 20555
SUBJECT:
Application for a Renewal of Operating License, No. R-126, Docket No. 50-407, Class 104 Facility for the TRIGA Nuclear Reactor at the University of Utah, Salt Lake City, Utah.
REFERENCE:
Title 10, Chapter I, Code of Federal Regulations, Part 50 ENCLOSURES: (1) Financial Report (2) Environmental Data (3) Revised Technical Specifications f (4) Operator Requalification Program '
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(5) Revised Emergency Plan fg;y{, ^'
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- 1. The University of Utah, located at' Salt' Lake City, Utah, tiereby applies for a renewal of Operating License,' No. R-126, Docket 50-407 for the TRIGA Mark I reactor on the University Campus.
- 2. In accordance with Section 50.33 of Reference (1), the following inform-1 ation is submitted:
g} 5 (a) NAME,0F APPLICANT: The University of Utah j (b) ADDRESS OF APPLICANT: -University of Utah, Salt Lake City, Utah poN p g e l 84112 ,
5 (c) DESCRIPTION OF BUSINESS OR OCCUPATION OF APPLICANT:
Institution of Higher Education (d) (1) IF APPLICANT IS AN INDIVIDUAL, STATE CITIZENSHIP:
)(ooY gr s%
pkg Not Applicable
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(2) IF APPLICANT IS A PARTNERSHIP, STATE NAME, CITIZENSHIP, AND ADDRESS OF EACH PARTNEP, AND THE PRINCIPAL LOCATION OF WHERE THE PARTNERSHIP DOES BUSINESS:
. Not Applicable 8305190349 830512 l PDR ADOCK 05000407 P PDR
(3) IF APPLICANT IS A CORPORATION OR AN UNINCORPORATED ASSOCI-ATION, STATE:
(i) THE STATE WHERE IT IS INCORPORATED OR ORGANIZED AND THE PRINCIPAL LOCATION WHERE IT DOES BUSINESS:
State of Utah, Salt Leke County, Salt Lake City, Utah 84112 (ii) THE NAMES, ADDRESSES AND CITIZENSHIP 0F ITS DIRECTORS AND OF ITS PRINCIPAL 0FFICERS, ALL OF WHOM ARE CITIZENS OF THE UNITED STATES OF AMERICA:
Institutional Council of the University of Utah Barker, Desmond J. , Jr.
415 East 200 South, Salt Lake City, Utah 84111 Brinton, Reed W.
275 East South Temple, Salt Lake City, Utah 84111 Dahlstrom, John A.
79 South State, Salt Lake City, Utah 84111 Dryer, Randy L.
79 South State, Salt Lake City, Utah 84111 Eccles, Spencer F., Treasurer P. O. Box 30006, Salt Lake City, Utah 84130 Giaugue, Richard W.
Kearns Building, Salt Lake City, Utah 84101 Hanson, DeAnne D.
4777 Idlewild Circle, Salt Lake City, Utah 84117 Harmston, Gordon E.
672 East 4149 South, Salt Lake City, Utah 84107 Scott, D. Brent 4055 South 500 West. Salt Lake City, Utah 84107 Skaggs, Aline 350 Federal Heights Circle, Salt Lake City, Utah 84103 Smith, Wendy, Secretary 201 Park Building, U of U, Salt Lake City, Utah 84112 Zaratzian, John Olpin Union, U of U, Salt Lake City, Utah 84112 General Officers of the University of Utah University of Utah Campus, Salt Lake City, Utah 84112 President, David P. Gardner 203 Park Building Vice President for Academic Affairs, Cedric I. Davern 205 Park Building Vice President for Research, James J. Brophy 304 Park Building
(iii) WHETHER IT IS OWNED, CONTROLLED OR DOMINATED BY AN ALIEN, A FOREIGN CORPORATION OR FOREIGN GOVERNMENT AND, IF S0, GIVE DETAILS:
The University of Utah is not owned, controlled, or dominated by an alien, a foreign government or foreign corporation.
(4) IF THE APPLICANT IS ACTING AS AGENT OR REPRESENTATIVE OF ANOTHER PERSON IN FILING THE APPLICATION, IDENTIFY THE PRINCIPAL AND FURNISH 'INFORMATION REQUIRED UNDER THIS PARAGRAPH WITH RESPECT TO PRINCIPAL.
Not applicable (e) THE CLASS OF LICENSE APPLIED FOR, THE USE TO WHICH THE FACILITY WILL BE PUT, THE PERIOD OF TIME FOR WHICH THE LICENSE IS SOUGHT, AND A LIST OF OTHER LICENSES, EXCEPT OPERATOR'S LICENSES, ISSUED OR APPLIED FOR IN CONNECTION WITH THE PRO-POSED FACILITY.
This request is for a renewal of a Class 104 operating license.
The license duration is requested to be the maximum period currently offered. Other NRC licenses having a bearing on the proposed facility are:
Class 104, Facility License No. R-25, for AGN-201M, Serial No.107 Nuclear Reactor.
License No. SNM-663-University of Utah, SNM License for Pu (7 Curie) in neutron source; U-235 (3.5 Curie) in experimental foils.
License No. 43-01884-01 broad Form License l
l The TRIGA Mark I reactor will be used as a source of ionizing
! radiation and neutrons for research and educational programs l
in the physical, biological, and medical sciences on the Campus of the University of Utah (f) THE FINANCIAL QUALIFICATIONS OF THE APPLICANT TO ENGAGE IN THE PROPOSED ACTIVITIES Funds for the continued operation of the TRIGA Mark I reactor facility are included in present and future operating budgets.
The University of Utah retains liability insurance for the facility with American Nuclear Insurers, Farmington, Connecticut.
Copies of the University of Utah's Financial Report for 1982 are submitted as enclosure (1) to indicate financial qualifi-cations to assume responsibility for the facility.
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'(g) THE TECHNICAL - QUALIFICATIONS OF THE APPLICANT ' TO ENGAGE IN THE PROPOSED ACTIVITIES IN ACCORDANCE WITH THE REGULATIONS IN THIS CHAPTER The staff of the Nuclear Engineering Program in the Mechanical Engineering Department will continue to operate the facility.
There is adequate technical capability and many years of exper-ience on the part of the staff and faculty to use the TRIGA nuclear reactor in training and research in nuclear physics, chemistry, engineering and radiochemistry.
(h) IF THE APPLICANT PROPOSES TO CONSTRUCT OR ALTER A PRODUCTION OR UTILIZATION FACILITY, THE APPLICATION SHALL STATE THE EARLIEST AND LATEST DATES FOR COMPLETION OF THE' CONSTRUCTION OR ALTERATION.
Not applicable (1) IF THE PROPOSED ACTIVITY IS THE GENERATION AND DISTRIBUTION OF ELECTRIC ENERGY UNDER A CLASS 103 LICENSE, A LIST OF NAMES AND ADDRESSES OF SUCH REGULATORY AGENCIES AS MAY HAVE JURIS-
-DICTION OVER THE RATES AND SERVICES OF THE PROPOSED ACTIVITY, AND 0F THOSE MUNICIPALITIES, PRIVATE UTILITIES, PUBLIC BODIES l AND COOPERATIVE WHICH ARE WITHIN TRANSMISSION DISTANCE AND
- WHICH ARE AUTHORIZED TO ENGAGE IN THE DISTRIBUTION OF ELECTRIC ENERGY WITHIN THE AREA.
Not applicable (j) IF THE APPLICATION CONTAINS RESTRICTED DATA OR OTHER DEFENSE INFORMATION, IT SHALL BE PREPARED IN .SUCH MANNEP. THAT ALL RESTRICTED DATA AND OTHER DEFENSE INFORMATION ARE' SEPARATED l FROM -THE UNCLASSIFIED INFORMATION.
Not applicable
, _3. Information requested in Section 50.34 of 10 CFR 50 is contained I. in the final Safety Analysis Report previously submitted and amended by L
.the University of Utah.
Revised and updated Technical Specifications proposed for the technical operation- of_ the facility are enclosed with this app}ication.
- t. 4. As requested in Section 50.37 of Reference (1), entitled AGREEMENT LIMITING ACCESS TO RESTRICTED DATA, The University of Utah agrees not to permit any individual to have access to Restricted Data until the Civil Service Commission shall have made an investigation and report to the Commission on the character, associations and loyalty of such individual, and the the Commission shall have determined that
- permittir.g such persons to have access to Restricted Data will not endanger the common' defense and security.
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- 5. The University appreciates the opportunity of continued TRIGA reactor operations and shall gladly furnish any additional information that may be deemed necessary by the Commission.
- 6. SIGNED UNDER OATH OR AFFIRMATION The University of Utah certifies that this application has been prepared in conformity with the Code of Federal Regulations, Part 50, and that all information contained herein, including any supplements attached hereby, is true and correct to the best of our knowledge and belief.
Very truly yours, UNIVERSITY OF UTAH by d7Nk [)
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e P es o R earch Campus Approvals:
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,' Eut Engpering P .S . This application is a resubmission of the original application for renewal of this license dated 8 March 1983 which was apparently lost in the mail.
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e University of Utah y 7
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00 FINANCIAL REPORT 1982
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OF UTAH
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December 17, 1982 Utah State Board of Regents University of Utah Institutional Council I am pleased to submit the accompanying University of Utah Financial Statements as of June 30,1982 and 1981.
The University accounts are maintained in accordance with the principles of
" Fund Accounting" to assure observance oflimitations and restrictions placed on the use of the resources available to the University. The financial report has been prepared in accordance with accounting principles recommended by the National Association of College and University Business Officers and the Ameri-can Institute of Certified Public Accountants.
The State Auditor examined the financial statements for 1982, but elected not to audit the 1981 financial records of the University. His opinion is included with 1 this report.
Sincerely, 4AA Ae >
David Pierpont Gardner President I
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.c ,i HIGHLIGHTS University of Utah l
Fiscal Years Ended June 30 1982 1981 Finandal Sources of Revenues (Current Funds)
State Appropriations 5 81.741,286 5 72,286,044 Gifts, Grants and Contracts 58,123,292 50,835,% 1 l Tuition and Student Fees 20,718,947 18,429,002 l Hospital 51,910,529 42,490,987 Auxiliaries and Others 60.564.515 ___32.087.653 Total Revenues 5 273.058.569 $ 236.129,647 l Total Assets $ 496,329,777 5 453,195,988 l
l Students l
Enrollment l Undergraduate 19,618 18,348 Graduate 3.755 4 622 23,373 22,970 Degrees Awarded Bachelor 2,433 2,337 Graduate 1,234 1,342 .
Annual Tuition Rate Resident S 876 5 786 Nonresident $2,328 52,034 Plant i Construction in Progress S 7,776,749 5 62,384,953 Total Plant 5 340,195,390 $ 315,911,483 ubrary Bound Volumes 2,000,000 1,900,000 Microforms . 1,819,338 1,739,152 Periodicals 16,125 16,825 i
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STATE OF UTAH
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W. Val Owson.C.P. A
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STATE AUDITOR'S REPORT Utah State Board of Regents and the Instita:sonal Council of the University of Utah We have examined the balance sheet of the University of Utah (hereinafter referred to as the
" University") as of June 30,1982, and the related statement of changes in fund balances and statement of current funds revent'es, expenditures and other changes for the year then ended. Our examination was made in accordance with generally accepted auditing standards, and accordingly included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances.
We did not .xamine the June 30,1982 financial statements of the University Hospital. Also, we did not examine the National Direct Student Loan or the Health Profession Loan accounts of the Loan Fund forJune 30,1982.These accounts represent 95% of the assets and 96% of the revenues of the lean fund. These accounts were examined by other independent auditors, whose reports have been fumished to us. Our opinion expressed herein, insofar as it relates to the amounts included for the University Hospital and the National Direct Stadent Loan and the Health Profession Loan portion of the Loan Fund, is based solely on these reports.
The scope of our engagement did not include s sufficient examination with respect to the financial statements as of June 30,1981, and for the year then ended, to enable us to express an opinion on them or on the consistency of application of accounting principles with such year, In our opinion, based upon our examinations and the report of other auditors referred to above, the above named financial statements present fairly the financial position of the University as of June 30,1982, and the changes in fund balances and the current funds revenues, expenditures, and other changes for the years then ended in conformity with generally accepted accounting principles.
Salt Lake City, Utah December 17,1982 u). A)d om UTAH STATE AUDITOR 3
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.. .t UNIVERSITY OF UTAH BALANCE SHEET June 30,1982 and 1981 Current Operating Funda Umumund oseed : Ammhery cp== mas Dansmed sammun== 8tapet s885 Wha read rund rund read read Assets Cash in bank and short term investments (Note 2) 513,680,386 526,145,900 $ (23,%7) 5 977,656 513,151,663 Cash on deposit with State Treasurer and Stase Building Board IIvestments (Note 3) I,831,946 700,000 2,220,664 6,I61,842 Donated property held far sale (Note 4) 17.838 479,595 Accounts receivable, notes, and sincrest receivable, less allowances of 52,515,358 in 1982 and 52,659,453 in 1981 2,242,852 2,354,653 301,552 11,592,641 4.394,848 IIventories 332,020 974.259 I,481.217 1,534.108 Prepaid expenses, defernd char 8es, and other assets 405,779 255,943 31.128 887.395 Due from other funds I,704.689 251,062 800,000 hvestment in plant (Note 4)
Total Assets $18,365,726 531,831,601 52,489,930 $18,012,464 524,217,948 Liabilities and Fund Balances I iabilities-Accounts payable 5 5,213,781 5 1,781,514 Accrued payroll (Notes 5 and 6) 6,631,336 1,204,007 Deposits, reserves and other liabilities (Note 8) 38,742 5 2,322,837 5 178,839 5,032,859 5 157,506 Deferred revenue (Note 9) 778,031 57,581 102,734 Funds held for others Due to other funds I45,065 I,033,158 1,985,911 Bonds, notes and contracts payable (Note 7)
Total I.iabilities 12,661,890 2,525,483 1,314,731 8,018,380 2,143,417 Fund Balances 5,703.836 29,306,118 I,175,199 9,994,084 22.074,531 Total Liabilities and Fund Balances $18,365,726 531,831,601 12.489,930 518,012,464 524,217,948 Fund Balances consin of:
Outstanding purchase orders and departmental balances 5 4,453,836 5 3,284,167 5 89,041 5 32,019 5 9,584,250 Working capital I 250,000 1,086,158 9, % 2,065 U.S. Government grants refundable Endowments Quasi-endowments Unrestricted W :f 26,021,951 Enternally restricted 12,490,281 Net Investment is Plant 5 5,703,836 529,306.118 51,175,199 5 9,994,084 522,074,531
'the accompanying Notes are an integral part of these Financial Statements 4
.. .t Other Funds fami Cosmes Senauer h Tassi Tand Opemmag I.amm
- and Sander Assary Plass IM2 IMI huds pied Pends Feed Pends Pames heen momens46 153,961,638 $ 1,329,340 $ 38,850 5381,248 $ 6,269,841 5 61,980,917 5 43,648,472 3,075,265 3,075,265 6,465,384 10,914,452 20,693,542 159,368 10,274,752 42,042,114 41,444,768 497.433 40,000 537,433 488,099 20,8V,,546 15,761,691 I49,318 351,085 37,148,640 35,814, % 8 4,321,604 4,321,604 4,021.304 1,580.245 24,571 206,629 I,811.445 1,3 % ,623 2.755,751 I,421,060 1,033,158 5,216, % 9 4,004,887 340,195,390 340,195,390 315,911,483 594.917.669 517.091,031 522 M9,770 5565,187 $361,406,120 54 % ,329,777 5453,195,988
$ 6.995,295 5 9,706,677
$ 2.711.382 $ 9,603,914 7,835,343 7,835,343 8,302,847 7,730,783 7,730,783 3,796, % I 938,346 938,346 752,255 5561,543 561,543 527,069 3,164,134 3,644 2,049,191 5.216,% 9 4,004,887 36,687,467 36,687,467 38,044,148 26,663,901 565,187 41,448,040 68,677,128 65,032,081 68,253,768 $17,091,031 522,349,770 319,958,080 427,652,649 388,163,907 594.917,669 $17.091,03I $22,349,770 5565,187 5361,406,120 $496,329,777 $453,195,988
$17.443,313 975,622
$ 5 18,418,935 $ 15,904.648 17.298.223 12.298,223 I1,991,915 516,725,511 16,725.511 15,185,465 5 8,406.765 8,406,765 6,997.327 13,943,005 13,943,005 I1,769,614 26,021.951 365,520 11,787.588 38,175,059 24,087,541 12.490.281 4,936,138 17.426,419 14,384,362 302,258,732 302,258,732 287,843,035 568,253.768 $17.091,031 $22,349,770 $319,958,080 5427,652,649 5388,163,907 5
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.- ,i UNIVERSITY OF UTAH STATEMENT OF CURRENT FUNDS REVENUES, EXPENDITURES AND OTHER CHANGES Years Ended June 30,1982 and 1981 Unrestricted Funds ensema Asutary few opmeas ressmead -
asseyname samspuma Uses,- e rund read rame rund reme Revenues State appropnations 566.774,900 5 I,929,500 5 68.704.400 Tuition and student fees 19,133,391 19,133,391 Grants and contracts federal and state 5,147,730 5 4,386,354 9,534,084 ,
Gifts, grants and contracts - noegeversawat 101,264 101,264 '
Invesenent and endowment income 6,066,504 5 101,572 249,048 6,417,124 Educational departments - sales and services 21,504 26,592,059 26.613,563 Auxiliary enterprises and servie m .
less related party rzpenditures of SI1,725,834 in 1982 and $10.597.723 in 1981 2.849,837 21.079,402 23,929,239 Hospital 51,910,529 51,910,529 Other 40,204 40,204 Total revenues 91.117,729 39,996,018 21,180,974 54,089,077 206,383,798 Expenditures Education and general lastractice 48,591,693 48,591.693 Research 132,862 1,451,239 I,584,101 Public service 473,303 27,726,171 28,199,474 Acadenue support 10,377,631 10,377,633 Student services 4,252,401 4,252,401 Institutional support 11,371,880 11,371,880 Operation and maintenance of plant 11.341,691 11.341,691 Scholarships and fellowships 2,057,806 2,057,806 Auxiliary and service units 19,068,688 19,068.688 Hospital 51,176,719 51,176,719 Total empenditures 88,599,269 29,177,410 19,068,688 51,176,719 188,022,086 Transfers and other additions (deductions)
Mandatory esasfers, act (351,315) 109,339 (2,090,790) (1,337,124) (3,669,890)
Nonmandatory transfers, net (1,613.357) (3,575,764) 859,984 (2,029,363) (6.358,500)
Adjustment to beginning fund balance (Note 4)
Excess (deficit) of resencted receipts over transfers to revenues Total transfers (1,964,672) (3,466,425) (1,230,806) (3,366,487) (10,028,390)
Net increase (decrease) in fund balances 5 553,788 5 7.352,I83 5 881,480 $ (454,129) 5 8,333,322 The accompanying Note; are an integral part of these Financial Statements 6
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$13.036,886 $81,741,286 $72,286,044 1,585,556 20,718,947 18,429,002 44,799,038 54,333,122 47,554.631 3,688,906 3.790,170 3,251.330 3,150,503 9,567,627 8,089,269 26,613,563 21J53,462 23,929,239 22,180,365 51,910.529 42,490,987 413,882 454,086 264,557 66,674,771 273,058,569 236,129,647 13,736,545 62.328,238 56,587.931 33,599,053 35,183,154 32,731,607 9,416.223 37,615,697 35,315,485 2,413,156 12,790,739 10,745,627
- 3,523,726 7,776,127 4,740,468 324,054 11,695.934 10,190,484 2.328,250 13,669.941 11,743,553 1,333,764 3,391,570 3,262,648 19,068,688 17.382,332 51,176,719 42,222,877 66,674,771 254,6 % ,857 224,923,012 263,600 (3,406,'290) (1,723,984) 162,429 (6.1%,071) (7,537,527)
(170,623) 3,217,675 3,217,67$ (4,105,957) 3,M3,704 (6,384,686) (13,538,091)
$ 3,643,704 $11,977,026 $(2,331,456) 7
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.. *3 UNIVERSITY OF UTAH STATEMENT OF CHANGES IN FUND BALANCES Years Ended June 30,1982 and 1981 Current Operating Funda Osment
- Ammmmy o r===s v a= pa=. n=,=i a ===e mind had had had rest Revenues and other additions Unrestricted current revenues $91.117,729 $39,996,018 $21,180,974 $54,089,077 State appropriations $13,036,886 Tuition and student fees 1,585,556 Grants and contracts federal and state 58,361,728 Gifts, grants and contracts - noegovernment 3,688.906 Investment income 3.150,503 U.S. Government advances ,
Interest on loans receivable Additions to plant facilities including amount expended-from current funds: 1982 - 57,667,050; 1981 - 523,275,747 Retirement of indebeedness Other 413,882 Total revenues and other additions 91.117,729 39,996,018 21,180,974 54,089,077 80.237,461 Expenditures and other deductions Education and general expenditures 88,599,269 29,177.410 66,674,771 Auxiliary enterprises expenditures 19,068,688 Hospital expenditures 51,176,719 Indirect costs recovered 10,345,015 teen cancellations and write-offs Provisions for bad debts Administrative and collection costs Expended for plant facilities Interest on indebtedness Retirement of indebeedness Disposal of plant facilities increase in long-term debt Other l Total expenditures and other deductions 88,599,269 29,I77,410 19,068,688 51,176,719 77,019,786 Transfers and other additions (deductions)
Mandatory transfers, met (3L315) 109,339 (2,090,790) (1,337,124) 263,600 Nonmandatory transfers, net (1,633,357) (3,575,764) 859,964 (2,029,363) 162,429 Adjustments to beginning fund balance (Note 4)
Total gransfers (1,964,672) (3,466,425) (1,230,806) (3,366,487) 426,029 Net increase (decrease) for the year 553,788 7.352,183 881,480 (454.129) 3,643,704 Fund balances (deficit), beginning of year 5,150,048 21,953,935 293,719 10.448,213 18,430,827 Fund balances, end of year S 5,703,836 $29,306.118 $ I,175,199 $ 9,994,084 $22,074,531 l
'Ibe accompanying Notes are an integral part of these Fm' ancial Statements 8
Other Ihmes Phut Famh That comme gemens Redmanmme Umenymedad Amerwal med Ramamme at asummmmm Temi Temi Opumus lama and Summier FImma Rupinammme amenemmenes la Phads Fund Funds
, tes2 lett Pumds Ammes Fund
- Plums Phads Pandi tunamened)
$206.383,798
$206.383.798 $177,075,641 13,036,886 8 90,700 5 4,201,000 17,328,586 12,777,604 1,585,556 $1,038,580 2,624,136 2,352,508 58.361,728 $8,361,728 42,824,638 3,688,906 46.115 5 2,064.791 5,481,509 8 795,410 12,056,731 9,996,909 3,150,503 3,288 24,828 774,668 5 363,192 835,741 5.152,220 4,866.135
$70,659 870,659 1,727.800 -
352,903 240,895 352.903 26.768,091 26,768,091 29,919,436 I,610,332 I,610,332 I,477,386 413,882 7,266 511.380 491.108 1,782,925 3.206,561 3,241,403 286,621,259 1.370,931 2,069.619 10,% 8,557 854,300 1,874,321 30,956,758 334,715,745 286,500,355 184,451,450 184,451,450 156,630,202 19,068,688 19,068,688 17.382,332 51,176,719 51,176,719 42,222,877 10,345,015 10,345,015 8.687,601 "
273.150 273.150 192,978 29,087 29,087 (660,933) 138,625 138,625 245,003 18,483,008 2,379,674 20,862.682 24,427.632 I,8 % ,652 1,8%,652 1,885,527 I,610,332 1,610,332 1,477,386 5,062,519 5,062,519 6,325,884 254,351 254,351 317.126 3.248 54,485 57,733 (209,262) 265,04),872 440,862 18,483,008 2,382,922 3,561,469 5,316,870 295,227,003 258,924,353 (3,406,290) 6,039 (1,072.179) 805,772 3,666,658 s. ,
(6.1%,071) ti,770 1,513.210 14,046,994 3,622,142 (I,768,854) (II,224,191) s 4 4,178f48 (9,602,361) 12,809 1,513.210 12,974,815 4,427,914 I,897,004 (11.224,191) 4,178,448 11,977,026 942,878 3,582,829 5,460,364 2,899,292 210,656 14,415,697 39,488,742 . 31,754,450 56J76,742 16,148,153 18,766.941 (2,503,036) 4,488,6(,0 7,143,412 287,843,035 388,163,907 356,409.457 '
$68,253,768 $17,091,031 $22,349,770 $ 2,957,328 $7,387,952 57.354,068 5302,258,732 S427,652.649 $ 388,163,907 9
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SUMMARY
OF SIGNIFICANT ACCOUN11NG portfolio's net 3====*. The fund which heid the intss" neat
.; POUCIES % mceives proceeds equal to the book value of the liquidated The financial statements include the accounts of the Uni.
amts. a ac nw w mut inwumnu s onhaarHy l versey of Utah, the University Hospital, and auxiliary ac- accounted for in the fund owning such assets, except for
.i tivities. The Unimrsity of Utah Research Instituer and the income derived from investments of endowment and similar
- r- University of Utah Research Four.dation, affiliated regani- funds, which is accounted for in the fund to which it is y sations, are uponed upon separately and themfore me mot A matricted or, if unresencted, as avenues in unresencied A
included in this report. All statements have been prepared our ' fads' '
the accrual basis except for depreciasion as explaned below Restricted gifts, grants, appropriatic U, endo'w'thent in-and accrued vacation as explaned isQcsc 6. The stessment ad uri&sarm m d fo%
1 r' of curmat funds revenues, expenditures, and other changes apPmPriate mericted funds. ReW smnt M m
' . is a statement of financial activit'es of carnat funds stated RPoned as mwnues to the extent:the such funds were
- ' er :he cumat sporting penod,' and it does not purport to emnded. Cumadeds avenues do am include murictd presen6 thensults of operations or the net income or loss for ps recped but m egnded.
,, the periM as would a statement of revenues and expenses. Receivselcs inch 4 hospital patiert accounts, student Accoun's are maintained in accordesce with the principles loan acewnts, intmst incom rece$e on innstnwnts %
'of " fund accounting" in order to ensure observance of and othee receivables in the applicable fund group.
limitations and astrictims placed on the use of the resources Liabilities reported for accounts payable, payyll and available to tha University. Resources are classified for emPl oyee benefits, and self fundedAsurance reserves are accounting andlepnting purposes into funds which have """U ** .to the varhus funds and organizational units.
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. similar activities or objectives. Separate accounts are snain- These liabilities.snd reld,ed funds for paymergere reported tained for ear *: fund; however, in the accornpanying finan- in the cumnt utileuncted fund empt for hospital accounts cial statements, funds that have simiirt cak isucs have Payable, accued payroll and related hensfits.
The University, in accordance wah generally accept'ed Resenct unds may be utilized on1Y in accordance with fund accountiner principics fgsdeticmaiirmitytitas, does purposes established by the external socree of such funds. not record h its financiaNeords depreciation of plant as-Unrestricted funds is a generally accepted fund accounting ' W wpt %se und MAospittl operations which are . !
tenn which identifies funds received through legislatne ap- recorded in accordance with the Suidelines provided in the propnation, unestricted gifts, and from the sale of goods AICPA Industry Nudit Guide fcr Hospitals, and services by the Hosp:td, auxiliary en;erprises, service The Univmity provide. funds for senewal and replace- i departments and educational service umts. Such funds mum ,,,, ,7,,,,,;, edtig gilant asseti ' principally tho*e of be used in accordaiscs with legislative intent in the c.se of \ self-supporting auxilianes) in compliance with the policies of the Sta!dhard of Regents and as lequired by bond ~
appropnations, and genera'ly must be used for the besiefit of auxiliaries, service @w.snes and other operating units - iMemurdis pmisis fw N replacem.t is which generate the funds. Designated funds are unrestricsed recorded as a transfer of cash from cuant c perating furstis to .
- funds, other than state appropriations, auxiliary funds, and the mW ad spimm wbm,,M k',pim fuM.
hospital funds which the Umvmity and its governing board
,g ,g have designated for specific purposes. pim fund a gird I
Cumat fuMs are used for cumat operating expenditures. Allowances for doubtful accounts are establishedAy, charges to operations to cover anticipated losses from ac-To the entem that cumnt funds are used to finance piam counts receivable generated by sa!rs and services and student assets, a noncumnt use, the amaunts so provided are ac-loans. Such accounts are charged to the allowance when counted for as (1) expenditures, in the case of purchases of collection appears doubtful. At such erne, the accounts are equipment and library books; and (2) mandatory and non-refend to collection agencies. Any subsequent recoveries i
mandatory transfm to plant funds for additions to plant,
[n. mnewal and replacement of plant facilities, and debt retite-ment, including interest expense.
are credited to the allowance accounts. Allowances are not established in those funds whose receivables consist of amounts due from govemmental units or whose receivables 7 ;. Endowment funds are subject to the restrictions of gift are insignificant in amount.
l insmsments requinns that pnncipal be invested in perpensity
_ ami that only the income be utilized. Term endowment funds The Utah State Division of Facilities Construction and Management ader.inistm the construction of facilities for are similar to endowment funds except that upon the passage state institutions, maintains records and furnish:s cost in-of a stated penod of time e the occumace of a panicular formaion for recording plam fuM assets en the books d die
- event, all or part of the principal may be expended. Quasi-s Univmity. g endowment funds have been established by the University's
, goveming board for designated purposes similar to endow- Additional significant accounting policies are set fcrth in ment funds. de financial usemems ad the followias ames.
All gains or losses on the sale of investments are credited 2. CASH AND CASH MANAGEMENT INVESTMENTS to or charged against the ordinary income of the portfolio and Cash from all funds is deposited in one account except are, therefore, allocated to the funds receiving that when legai requirements dictate the use of separate accounts 10
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'Ibe pooled cash balance and cash float from outstanding the case of gifts. 'Ibe University acquires some of itr equip.
checks me invested principally in short-term invesanents ment from inventories of government excess property for which conform to the provisions of the Utah Code. The which the University pays a minimal handling charge. Such University intends to hold these investment securnies until property is valued at the original cost paid by the government maturity when full per value (substantially equal to cost) will entity. All land comprising the original campus and addi-be realized. At June 30, the composition of this pool was as tions that are contiguous have been valued at $3,000 per follows. acre. l.ar.d not contiguous to the campus has been valued at 19s2 test original cost or fair market value at the date of acquisition in Cash (deficit) $ (67,767) $ (51,648) the case of gifts.
Repurchase agreements 5,300,000 4,000,000 Certain properties held for sale have been transferred from Time certificases of deposa 18,000,000 8,000,000 the plant fund to the fund which owns the property. An obliganons of the U.S.
adjustment to the beginning fund balance in the plant fund Govenument and its associes 36,878,281 29,808,506 was made in fiscal 1981 to reflect these transfers. An adjust-U.S. Govenunent ment was made to the records of the University to bring them paranteed obligations 1,870,403 1.891,614 into agreement with the records of the Utah State Division of Total (as cost) 861,980,917 $43,648,472 Facilities Construction and Management for construction in progress.
- Total (at market) 557,701,553 538,142,681 la September 1981, the Hospital occupied a newly con-structed facility, costing $47.3 million, which was financed principally with the proceeds received from the sale of State of Utah general obligation bonds and with donations.
- 3. INVESMEni Physical properties at June 30 consist of:
Funds available for investment are pooled to manmm return and minimize administrative costs except for funds which are separately invested to meet legal requirements. Buildin8s and improvements 5 218,972,366 5152,125,737 Investments are recorded at cost ex;ep: for gifts which are Land 3,935,062 3,935,062 recorded at market or appraised value on the date of receipt. Equipment 83,985.725 73,913.750 The University intends to hold these investment securities Ubrary materials 25,525,488 23,551,981 until maturity when full par value (substantially equal to Construction in progress 7.776,749 62.384,953 cost) will be realized. University personnel manage certain Total 5 340.195.390 5315,911,483 portfohos. Other postfolios are managed by banks or through trustagreements. AtJune30,theinvestment portfolio com-
" **' ** I"U'*** 5. RETIREMENT AND PENSION PI.ANS Eligible employees of the University of Utah are covered 19s2 test by one of two retirement plans:
cash, money marset guads Urah Srare Employee Rerirement Fund is administered by and repurchase agreements S I,769,274 $ I,188,490 the State of Utah. The contribution rate is designed to fund Certificates of deposit and current retirernent costs as they accrue and to fur,c! past commercial paper 14,614,943 14,702.188 service costs over a 40-year period. The retirement fund is Obligations of the U.S.
not accounted for by individual governmental units and Government and its asencies 27,165,771 21,942,432 U. S. Government guaranteed political subdivisions. In accordance with legislation enacted by the Utah State Legislature, the University and Cem and preferred stocks I, 6 2,06),299 Participating employees contribute to the fund amounts de-Corporate bonds I,597,872 1,550,359 termmed as a percentage of the employee's annual salary.
Seewitin sold under - Rates of contributions were 13.95% for the Umversity and agreement to spurchase (a) (6,000,000) 3.95% for employees for the years ended June 30,1982 and 1981. Effective July 1,1982, employee contributions will be Total (at cost) 542,042,114 141,444,768 paid by the University.
Teachers insurance and Annuity Association provides in-Total (at market value) $40,051,197 540,207.974 dividual retirement fund contracts with each eligible par-(a) At June 30,1982, the University held certificates of deposis of ticipating employee. Benefits provided to retired employees 56,000,000 pechased with the proceeds of securities sold are generally based on the value of the fund and the estimated 88 er 88 88r**m*88 to NPurchase these secses. life expectancy of the employee at time of retirement. In accordance with legislation enacted by the Utah State Legislature, the University and participating employees
, 4. PLANT ASSETS contribute to the individeal retirement funds e. mounts deter-Buildbgs, building isrprovements, land improvements, mined as a percent of the employee's annual salary. Rates of equipment, and library books are valued at cost at the date of contributions were 12.10% for the University and 2.10% for acquisition er at fair market value al the date of donation,in employees for the years ended June 30,1982 and 1981.
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' Effective July 1,1982, employee contributions will be paid in cc,nformance to Statement of Financial Account ng Stan-by the University. dards No. 43, " Accounting for Compensated Absences."It Total retirement fund contributions made by the Univer- is not currently practical for the University to adopt this sity to both plans in the year ended June 30,1982, were accounting principle and reflect the liabilhy ior the accrued
$15,425,652 and $13,426,155 in the year ended June 30, vacation in its financial statements. Accrued vacation, not 1981. The University has no further liability once annual exceeding 30 days plus the employee's current year's ac-contributiot6s are made. crual, is paid upon termination of employment. The accrued vacation liability of the University (excluding the Hospital's
- 6. ACCRUED VACATION recorded liability of $1,062,290 at June 30,1982, and Annual vacation and sick leave expenses are not accrued $836,132 at June 30,1981) was approximately $2,772,106 but are reported as expenditures when used except for the at June 30,1982, and $2,287,786 at June 30,1981. Sick University Hospital which has adopted accounting policies ,
leave earned and unused does not vest with the employee,
- 7. BONDS PAYABLE AND OTHER IDNG-TERM LIABILITIES Dane Manswy Isisen crisinal omat salance lasise issued Dane Rane Issue Liabihty 6-30-82 Student Housing Revenue Bonds Series A IWl/60 1993 2.750 % 5 846,000 5 30,000 5 388,000 Series B 10/1/60 1999 2.875 3.000 3,160,000 85,000 1,913,000 Series C 10/1/60 2000 2.985 3.000 2,285,000 60,000 1,386,000 Series D 10/l/63 2003 3.600 3.500 3.400 3.300 2,000,000 45,000 1,376,000 l Series E 10/1/68 2008 3.000 3,000,000 60,000 2,405,000 l Series F 4/I/70 2009 S.500 (a) 7.750 (a) 4,250,000 45,000 3,950,000 Series G t./1/71 2010 6.030 (a) 4,250,000 45,000 3,960,000 Series H 4/1/75 2014 8.500 (a) 4 S.000 (a) 7.800 (a) I,750,000 15,000 1,695,000 Series I 1/1/80 2004 3.000 1,300,000 40,000 1,150,000 22,841,000 425,000 18,223,000 Student Fee
! Revenue Bonds 6/1/65 1996 3.250 4.500 II,000,000 405,000 7,215,000
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- j. Hospital Revenue Note 7/1/80 1989 6.875 (b) 9,975,000 1,015,000 9,975,000 i
Contracts Payable - 726,538 1,274,467 Total 543,816,000 52,571,538 536,687,467 (c) l (a) The University receives an interest subsidy from the United States Departnrnt of Housing and Urban Development for the difference between 3 percent and the interest rate shown for Series F, G, and H Bonds.
(b) On August 5,1980, the University execrted on behalf of the University Hospital, a tax exempt revenue note for $9,975,000 bearing interest at 6 7/8 percent. The loan proceeds were used to equip an addition to the University Hospital and will be repaid by annual principal payments ranging from $ 1,015,000 in 1982, to $1,525,000 m 1988. The loan is collateralized by a security interest in the equipment purchased and by a pledge of lawfully available Hospital net revenues before a!!owances for depreciation and interest expense. The terms of the agreement require the University to maintain a deposit with the lender of the lesser of $1,200,000 par value ins estments or the unpaid balance of the note.
Proceeds of the loan were held by the lender, as trustee, until required for the purchase of equipment or repayment of principal and interest as provided in the note agreement. Equipment expendituns were completed during the year ended June 30,1982.
(c) Total principal payments for each of the five y:ars subsequent to June 30,1982, are as follows: 1983 52,571,538;1984 52,672,538;1985 52,773,538; 1986 52,894,538; 1987 53,025,538.
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- 8. SELF INSURANCE TRUSTS are held and administered by extema! fiscal agents who At June 30,1982, assets of the Hospital Self Insurance distribute net income earned by such funds to the Univer-Trust and the Professional Liebility Self Insurance Trust sity, where it is recorded when received. Funds held in trust were recorded in the University's accounting records. Trust at June 30, were as follows:
assets amounted to $2,220,664 arid $404,820, respectively, Cast h*ef including interest camings of $265,900 for fiscal 1982.
Contributions paid and accrued to the trusts for the years 3982 55,541,856 55,398,011 ended Junc 20.1082, and June 30,1981, were $724,000 and 1981 55,002,356 55.200,133 5319,000 respectively.
- 9. DEFERRED REVENUES 11. PLEDGES Deferred revenues in the general operating fund consist of The University follows the practice of not reporting l summer school suition and student fees. Deferred revenues pledges rec:ivable in the accounts. Such pledges are sum-in other funds result fem normal operations of auxiliary marized below. It is not practical to estimate the net realiz-enterprises and service units. able value of such pledges.
salance Amount Amount Receivable
- 10. FUNDS HELD IN TRUST BY OTHERS of Pledge Receivabic in Future Years Funds held in trust by others are neither in the possession I cf nor oder the management of the University. These 1982 5183.750 5108.750 5 75,000 funds, which are not recorded on the University's books, 1981 5350.000 5200,000 $150,000 l
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UNIVERSITY OF UTAH :
l Utah State Board of Regents University Administration Kem C. Gardner David P. Gardner Chairman President W. Hughes Brockbank James J. Brophy Vice Chairman Vice Presidentfor Research Ralph S. Blackham Cedric I. Davern E. LaMar Buckner Vice Presidentfor Academic Afairs J. Lynn Dougan Walter P. Gnemi George C. Hatch Vice Presidentfor Donald B. Holbrook
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Chase N. Peterson Reba L. Keele ary D. hat Vice Presidentfor Health Sciences R. J. Snow Ernest D. Manani Vice Presidentfor Neal A. Maxwell University Relations David S. Monson John Florez Robert L. Newey Director of Equal Wayne Owens Employment Opportunity Rex G. Plowman Anthony W. Morgan yoggy Sgo ,, Executive Assistant to the President Glen L. Taggart 14on B. Robertson
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Arvo Van Alstyne Commissioner of
- "#E # # I"""'"E Higher Education Financial Services l Institutional Council Dr t - Fim e John A. Dahls: rom C. Tebbs Adams Chairman Assistant Treasurer Desmond J. Barker, Jr.
Grant A. Moulton Vice Chairman Controller Reed W. Brinton Ronald E. Tremea l Randy L. Dryer Director of Richard W. Giauque Governmental Accounting j- DeAnne D. Hanson Gordon E. Harmston l D. Brent Scott Aline W. Skaggs John N. Zaratzian Spencer F. Eccles Treasurer Wendy P. Smith Secretary .
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