The Statement of Net Position presents the financial position of the University at the end of the fiscal year and includes all assets, deferred outflows of resources, liabilities, and deferred inflows of resources. Net position, the difference between total assets and deferred outflows and total liabilities and deferred inflows, is an important indicator of the current financial condition, while the change in net position is an indicator of whether the overall financial position has improved or worsened during the year.
Assets and Deferred Outflows: As of June 30, 2023, total assets and deferred outflows amounted to $184.4 million. Of this amount, investment in capital assets (net of depreciation) was $145.6 million, or 78.95% of total assets and deferred outflows of resources. Investments amounted to $20.2 million, or 10.95%, of total assets and deferred outflows of resources. During the year, total assets and deferred outflows increased by $3.4 million, primarily due to an increase in grants receivable.
Liabilities and Deferred Inflows: As of June 30, 2023, total liabilities and deferred inflows amounted to 187.5 million. Net Pension and Other Postemployment Benefits (OPEB) liabilities amounted to 67.4 million. As of June 30, 2023, long-term debt totaled 95.7 million and included bonds payable, lease agreements, and certificates of participation related to the construction of a new residence hall (Note 2). During the fiscal year ended June 30, 2023, total liabilities and deferred inflows decreased by 4.8 million, primarily due to decreases in the deferred inflows related to pension and other postemployment benefits.
Net Position: Net position was $11.7 million at June 30, 2023, and was reported in three categories: net investment in capital assets of $69.6 million, restricted nonexpendable of $8.7 million, restricted expendable of $10.4 million, and an unrestricted deficit of ($77.0) million.
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