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Univ fares better in FY10 than FY09

Published: November 5, 2010
Section: Front Page


The university fared better in the 2010 fiscal year than in fiscal year 2009, with an $11 million increase in total assets

“Brandeis is well positioned financially,” Vice President for Budget and Planning Frances Drolette said.

“Our 2010 financial statements reflect the campus-wide hard work that went into budget measures over the last year as well as the slowly recovering U.S. economy and improvements in the financial markets.”

The university increased its short-term investments between fiscal years 2009 and 2010 through investing in Money Market funds, deposit accounts and U.S. Treasury bills.“The amount invested was increased and the yield improved,” she said.

The university also had gains in unrestricted assets, from $97 million in fiscal year 2009 to $141 million in fiscal year 2010.

There was also a gain in unrestricted operating revenues rising from $165 million in fiscal year 2009 to $179 million in fiscal year 2010.

But the new fiscal year did not bring all good news.

Contributions decreased between the fiscal years by $4 million. Additionally, there was a $67 million decrease in cash and cash equivalents, something Drolette attributed to the university drawing $50 million from its line of credit in fiscal year 2009 and paid back at the beginning of fiscal year 2010.

“When comparing the cash balance excluding the line of credit, there was an actual increase of $10 million,” she said.