The Story Behind the Numbers
A Companion to the 2018 Annual Financial Report
The University of Colorado Annual Financial Report is full of numbers, developed and reviewed by many accountants. For those of you who do not have an accounting background, the Office of University Controller developed this companion website to help make financial report information easier to understand.
A Little Background
Every year, the University of Colorado produces an Annual Financial Report.
This year’s Companion to the Annual Financial Report steps through some of the reasons we prepare an annual report, and why you might want to look at it.
Why Do We Prepare an Annual Financial Report?
Every year, CU prepares audited financial statements.
We do this because we have to.
The State of Colorado requires it,
because we’re included in the State’s financials.
The federal government requires it,
because we get grants and student financial aid.
Lenders and bond rating agencies require it,
because we issue debt.
But we also do this because we want to.
We receive almost $4 billion in annual revenue and we’re a major economic driver for the State of Colorado.
And preparing an annual financial report is simply a best practice for a major enterprise like us.
It’s good business to do a periodic check of our financial position … and to have an external party look at some of our controls and audit our balances.
Plus…
preparing an annual report lets us compare ourselves with other institutions, which is a useful thing to do.
Why Should You Look at our Annual Report?
Our 2018 annual report provides numbers for two years: the 2018 fiscal year (July 2017-June 2018), compared with the previous fiscal year.
In the Management Discussion & Analysis (MD&A) section of the report, we consider our performance for three years: the 2018 fiscal year, compared with the two previous fiscal years.
This means that when you look at CU’s annual report, you not only get a snapshot of our financial position at a particular moment in time … you also get to see some trends. The more annual reports you look at, the longer the period you can see trending data.
So what does the report tell us this year?
When you look at our 2018 Annual Financial Report, you’ll see that CU is strong … it’s growing … it’s healthy … and it’s valued.
Signs of Strength
This is a natural extension of being able to compare ourselves with other institutions.
Signs of Growth
CU continues to grow. In tuition, in research, and in gifts.
Signs of Health
CU’s growth is healthy growth.
Signs of Value
CU’s value is recognized.
Snapshots of the Present, Pictures of the Future
As mentioned above, our Annual Financial Report provides a snapshot of CU’s financial position at a moment in time.
If you’d like to get a picture of CU’s future, we recommend you take a look at the Strategic Vision developed by the University of Colorado Board of Regents.
The Regents have developed metrics and goals to track progress toward this vision in four key areas: Affordability & Access, Student Success, Fiscal Sustainability, and Reputation & Impact. For more information, see www.cu.edu/cu-metrics.
Questions & Feedback
Did you find this website helpful? Do you have a question or comment about the 2018 Annual Financial Report?
Let us know!