University of North Texas System Combined Financial Report: 2003 Page: 38 of 63
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UNAUDITED
UNIVERSITY OF NORTH TEXAS SYSTEM (794)
NOTES TO THE COMBINED FINANCIAL STATEMENTS
AUGUST 31, 2003
ended August 31, 2003 The majority of endowments supporting University scholarships and other University
programs are owned by the Foundation The market value of the Foundation's endowments at August 31, 2003 was
$30,867,936
The Professional Development Institute Inc (PDI) is a non-profit corporation whose purpose is to provide
continuing education for the business and governmental community through seminars, workshops, conferences and
the establishment of ongoing programs of study designed to further professionalize certain areas of specialization
within the total business and governmental community and to assist m maintaining and enhancing through financial
support the University as a leading academic institution PDI, Inc remitted gifts of $38,990 that were recorded as
revenue to the University during the year ended August 31, 2003 PDI maintains an agency account on the books of
the University from which incidental expenses such as postage, telephone, prmtmg, and office supplies are paid
These expenditures totaled $23,954 84 for the fiscal year ended August 31, 2003
The North Texas Research Institute, Inc. (NTRI) is a separate non-profit corporation The purposes of the
Research Institute are to perform research, development and service activities, alone and cooperatively with other
institutions, government agencies, and business organizations, to provide research facilities, expertise and services
for business and government organizations, and to assist m maintaining and enhancing through financial support the
University of North Texas as a leading academic institution In fiscal year 1996, the NTRI Board adopted a
resolution to deactivate, but not dissolve NTRI In accordance with this resolution, all research projects were closed
the following fiscal year During the current fiscal year there were no active projects in NTRI No project income
was generated during the fiscal year There were no transfers to the University from NTRI There was $1,000 in
expenditures made on behalf of the University during the current fiscal year
The University of North Texas Health Science Center at Fort Worth Texas College of Osteopathic Medicine
Foundation, Inc. is a non-profit organization with the sole purpose of supporting the educational and other
activities of the Health Science Center The Foundation sohcits donations and acts as coordinator of gifts made by
other parties The Senior Vice President for Finance and Administration of the University of North Texas Health
Science Center also oversees the financial operations of the Foundation The books and accounts of the Foundation
are maintained by the Health Science Center
Note 15: Stewardship, Compliance and Accountability
Not Apphcable
Note 16: The Financial Reporting Entity and Joint Ventures
Not Apphcable
Note 17: Restatement of Fund Balances
During FY 2003, two adjustments were made which required the restatement of the amounts m net assets as shown
and below
Enterprise Fund
Net Assets August 31, 2002 $376,077,629 15
Restatements
a Texas State Property Accountig changes (63, 803 74)
b Additional accounting changes to full
accrual basis (2,148,179 95)
Net Assets September 1, 2002, as Restated $373.865.645.46Page 36
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University of North Texas System. University of North Texas System Combined Financial Report: 2003, report, 2003; Denton, Texas. (https://texashistory.unt.edu/ark:/67531/metadc177345/m1/38/: accessed July 18, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Special Collections.