ML18361A649

Pennsylvania State University - Audited Financial Statements -Fiscal Year Ending June 30, 2018 and Self-Guarantee Agreement

ML18361A649
Person / Time
Site:	Pennsylvania State University, 07000113
Issue date:	12/20/2018
From:	Doncsecz J J Pennsylvania State Univ, University Park, PA
To:	Document Control Desk, Office of Nuclear Material Safety and Safeguards
Shared Package
ML18361A657	List: ML18361A649
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Download: ML18361A649 (8)

Text

Penn State December 20, 2018 Joseph J. Doncsecz Associate Vice President for Finance and Corporate Controller Director, Office of Nuclear Material Safety and Safeguards U.S. Nuclear Regulatory Commission Document Control Desk 11555 Rockville Pike Rockville, Maryland 20852 -2738 (814) 865-1355 FAX: (814) 863-0701 The Pennsylvania State University 408 Old Main University Park, PA 16802-1505 Subj: Audited Financial Statements -Fiscal Year Ending June 30, 2018 and Self-Guarantee Agreement

• License numbers:

Dear Sir or Madam,

R-2 SNM-95 Breazeale Nuclear Reactor Penn State University Docket 050-00005 Docket 070-00113 As required in 10 CFR 30.35.(f).(2), the financial test and self-guarantee method of 10 CFR 30 Appendix E will be used. The Pennsylvania State University (the "University")

certifies the following: (i) 10 CFR 30 Appendix E Paragraph II.A.(1) -The University currently holds a rating for its most recent bond issuance of AA as issued by Standard and Poor's, and a bond rating of Aal as issued by Moody's,.and (ii) The University is currently a going concern, and it possessed positive net assets in the amount of $9,924,394,000 at June 30, 2018. The calculation of the University's net assets at June 30, 2018 was derived from the university's independently audited, year-end financial statements and footnotes for the fiscal year ended June 30, 2018. The University is not required to file a Form 10-K with the Securities and Exchange Commission for the latest fiscal year. (iii) 10 CFR 30 Appendix E Paragraph II.C.(1)-Audited financial statements are attached as Attachment A. In addition to the enclosed report, an electronic version may also be found at: https://controller.psu.edu/sites/controller/files/psu 2018 financial statements

-. final.pdf Document transmitted contains confidential financial information

-withhold under 10 CFR 2.390. N AD 2-_ ;JH~s_l.o When separated from enclosures this document is uncontrolled.

Director, Office of Nuclear Material Safety and Safeguards December 20, 2018 Page2 . ) Attachment B contains Penn State Unive:i;sity'.s Self-Guarantee Agreement for Financial Assurance for Cost ofDecommi_ssioning Activities.

Attcichment C contains the Independent Accountant's Report on Applying Agreed-Upon Procedures for the year ended June 30, 2018. In addition, Attachment D contains an Affidavit regarding proprietary information. . Please contact Yuanqing Guo at 814-865-6391 or yxg14@psu.edu if you have arty questions.

' Sincerely, -Joseph J. Doncsecz Associate Vice President for Finance and Corporate Controller Attachment A -Audited financial statements

_ \ Attachment B Penn State University's self-guarantee agreement Attachment C -Independent Accountant's Report on Applying Agreed-Upon Procedures Attachment D -Affidavit

-cc: Yuanqing Guo, Radiation Safety Officer . Kenan -Onlii, Director, Radiation Science and Engineering Center Jody Murawski, Controllers Office, University Park /' Document transmitted contains confidential financial information -withhold under 10 CFR 2.390. When separated from enclosures this document is uncontrolled.

ATTACHMENT A-Penn State University Audited Financial Statements .I Document transmitted contains confidential financial information -withhold under 10 CFR 2.390. When separated from enclosures this document is uncontrolled.

ATTACHMENT B -Penn State University Self-Guarantee Agreement Document transmitted contains confidential financial information

-withhold under 10 CFR 2.390. When separated from enclosures this document is uncontrolled.

ATTACHMENT C-Independent Accountant's Report on Applying Agreed-Upon Procedures Document transmitted contains confidential financial information-withhold under 10 CFR 2.390. When separated from enclosures this docµment is uncontrolled.

ATTACHMENT D -Affidavit J Document transmitted contains confidential financial information -withhold under 10 CFR 2.390. When separated from enclosures this document is uncontrolled.

v PennState Joseph J. Doncsecz Associate Vice President for Finance ~d Corporate Controller AFFIDAVIT (814) 865-1355 FAX: (814) 863-0701 The Pennsylvania State University 40801dMain University Park, PA 16802-1505 December 20, 2018 (1) I am'the Associate Vice President for Financ~ and Corporate Controller of The Pennsylvania State University (the "University"), and as such, I have been_ specifically delegated the function of reviewing confidential information sought to be withheld from public disclosure in connection with the University submittals to the Nuclear Regulatory Commission (the "Commission"), and am authorized to apply for its withholding on behalf of the University.

(2) I am making this Affidavit in conformance with the provisions of 10 CFR Section 2.390 of the Commission's regulations and in conjunction with the University's submission of the Independent Accountant's Report on Applying Agreed-Upon Procedures for the year ended June 30, 2018 related to the University's annual financial test and self-guarantee.

(3) Pursuant to the provisions of paragraph (b)(4) of Section 2.390 of the Commission's regulations, the following is furnished for consideration by the Commission in determining whether the information sought to be withheld from public disclosure should be withheld. (i) The information sought to be withheld from public disclosure is owned and has been held in confidence by ttie University. (ii) The information, off-balance sheet exposures disclosed within the Independent Accountant's Report on Applying Agreed-Upon Procedures for the year ended June 30, 2018 sought to be withheld from public disclosure is not available in public sources and is not required to be disclosed by the University for purposes other than as part of the Independent Accountant's Report on Applying Agreed-Upon Procedures for Commission purposes related to Appendix E to 10 CFR Part 30. /

(iii) The information is being transmitted to the Commission in confidence and, under the provisions of 10 CFR 2.390; it is to be received in confidence by the Commission.

The facts set forth in this Affidavit are true and correct to the best of my knowledge, information, and belief. Joseph J. Doncsecz Associate Vice President for Finance and Corporate Controller The Pennsylvania State University Transmitted herewith are proprietary versions of documents furnished to the NRC in connection with requirements of Appendix E to 10 CFR Part 30 for Commission review and approval.

Non-proprietary versions of the documents are not provided as they essentially would consist of blank pages.