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									                                  Foundation Conversion Template
                                    North Carolina Universities
                                  For the Year Ended June 30, 2009


              The accompanying "Foundation Conversion Template - North Carolina Universities"
       was developed by the North Carolina Office of the State Controller (OSC). This template converts
           private foundations from the FASB 117 format to the State CAFR format (i.e., GASB 34).

    Except for North Carolina public colleges and universities, we request that users make reference to OSC
     as the developer of the accompanying template. Also, users should provide OSC with samples of any
           materials utilizing this template or parts thereof. If you have any questions, please contact
                     Clayton Murphy at clayton.murphy@osc.nc.gov or (919) 981-5474.

                                               Mailing Address
                                            State of North Carolina
                                         Office of the State Controller
                                          1410 Mail Service Center
                                          Raleigh, NC 27699-1410


                                                                                                 Revised 4/3/2009




                                               1
78d51b91-5777-45fc-8ddc-32b2c2f4dc47.xls Use Stmtof 15                                               4/21/2011
                   Foundation Conversion Template for Universities
                                General Information
       Enter Agency Number: (See Net Assets tab for agency number if needed)
          Agency Number                    U20
          Name of the University           UNC - Chapel Hill
       Enter Preparer Information:
          Preparer's Name
          Preparer's Phone No.
          Preparer's E-mail
       Enter Foundation Name(s):
          Name of Foundation 1               Name of Foundation
          Name of Foundation 2
          Name of Foundation 3
          Name of Foundation 4
          Name of Foundation 5
                           (Note: Names must fit within the shaded areas)
          GENERAL INSTRUCTIONS:
          Throughout the workbook, please enter all amounts in "whole dollars" not cents.
          Refer to the notes at the bottom of each tab for further information and instructions.
          Please add any suggestions or explanations of special situations on the "Comments" tab
          so that we may update the template as needed.
          Due Date: September 15, 2009
          Please e-mail the template to the OSC at this address: cafr@osc.nc.gov
          Thanks!




78d51b91-5777-45fc-8ddc-32b2c2f4dc47.xls Info      2 of 15                                         4/21/2011
UNC - Chapel Hill Foundations                                                                                                            Exhibit A
Statement of Net Assets - FASB 117 Format (1)
State Fiscal Year June 30, 2009



                                                       Name of Foundation                         0            0            0            Total
      Assets
100   Cash and cash equivalents                        $               -    $             -   $        -   $        -   $        -   $           -
 **   Investments                                                      -                  -            -            -            -               -
105   Investment in joint venture                                      -                  -            -            -            -               -
105   Cash surrender value of life insurance                           -                  -            -            -            -               -
105   Assets held in charitable trusts and annuities                   -                  -            -            -            -               -
105   Security deposits                                                -                  -            -            -            -               -
105   Assets held by trustee                                           -                  -            -            -            -               -
105   Real estate held for resale                                      -                  -            -            -            -               -
110   Receivables, net                                                 -                  -            -            -            -               -
110   Promises to give                                                 -                  -            -            -            -               -
115   Inventories                                                      -                  -            -            -            -               -
120   Prepaid expenses                                                 -                  -            -            -            -               -
125   Notes/loans receivable, net                                      -                  -            -            -            -               -
135   Deferred charges                                                 -                  -            -            -            -               -
105   In-kind gifts                                                    -                  -            -            -            -               -
 **   Property and equipment, net                                      -                  -            -            -            -               -
          Total assets                                                 -                  -            -            -            -               -
      Liabilities (2)
200   Accounts payable and accrued expenses                            -                  -            -            -            -               -
202   Due to the University (3)                                        -                  -            -            -            -               -
203   Grants payable to the University (3)                             -                  -            -            -            -               -
205   Unearned revenue                                                 -                  -            -            -            -               -
210   Interest payable                                                 -                  -            -            -            -               -
215   Deposits payable                                                 -                  -            -            -            -               -
220   Funds held for others                                            -                  -            -            -            -               -
200   Interest rate swap fair value liability                          -                  -            -            -            -               -
 **   Split interest agreement obligations                             -                  -            -            -            -               -
 **   Annuities payable                                                -                  -            -            -            -               -
 **   Capital leases payable                                           -                  -            -            -            -               -
 **   Notes payable                                                    -                  -            -            -            -               -
 **   Bonds payable                                                    -                  -            -            -            -               -
          Total liabilities                                            -                  -            -            -            -               -
      Net Assets
      Unrestricted                                                     -                  -            -            -            -               -
      Temporarily restricted                                           -                  -            -            -            -               -
      Permanently restricted                                           -                  -            -            -            -               -
          Total net assets                             $               -    $             -   $        -   $        -   $        -   $           -

      (Assets minus liabilities equals net assets)            OK                OK                OK           OK           OK




         78d51b91-5777-45fc-8ddc-32b2c2f4dc47.xls Exh A                         3 of 15                                                     4/21/2011
UNC - Chapel Hill Foundations                                                                               Exhibit A
Statement of Net Assets - FASB 117 Format (1)
State Fiscal Year June 30, 2009

Notes:

(1) If the Foundation's separately issued Statement of Net Assets includes more than one column,
    key the amounts from the "Total" column.

(2) Within a foundation, amounts due to/due from other funds of that foundation should be eliminated and
    excluded from Exhibit A. Amounts due to other University foundations should be included with
    "Accounts payable and accrued expenses".

(3) Total foundation payables to the University should agree with the offsetting amount recorded by the
    University as "Due from University Component Units". The only exception is for timing differences for
    foundations with different fiscal year-end dates. When the fiscal years are the same and the total
    foundation payables to the University do not equal the offsetting receivable recognized by the
    University, the difference should be reclassified to "Accounts payable and accrued expenses".

** See Adjustments tab for further breakdown.




         78d51b91-5777-45fc-8ddc-32b2c2f4dc47.xls Exh A                           4 of 15                     4/21/2011
UNC - Chapel Hill Foundations                                                                                                                              Exhibit B
Statement of Activities - FASB 117 Format (1)
For the State Fiscal Year Ended June 30, 2009


                                                                      Name of
                                                                     Foundation                             0            0                   0            Total
      Revenues (2)
 **   Gifts, donations, and contributions                        $                -   $             -   $        -   $          -   $            -   $               -
500   Contributed services and facilities                                         -                 -            -              -                -                   -
500   Change in value of split interest agreements                                -                 -            -              -                -                   -
505   Grant revenues                                                              -                 -            -              -                -                   -
530   Investment income                                                           -                 -            -              -                -                   -
530   Net realized/unrealized gains (losses) on investments                       -                 -            -              -                -                   -
540   Sales and services                                                          -                 -            -              -                -                   -
550   Rental and lease income                                                     -                 -            -              -                -                   -
555   Gain on sale of capital assets                                              -                 -            -              -                -                   -
560   Miscellaneous income                                                        -                 -            -              -                -                   -
          Total revenues                                                          -                 -            -              -                -                   -

    Expenses (3)
 ** Payments to University                                                        -                 -            -              -                -                   -
610 Other expenses (include losses on sale of capital assets)                     -                 -            -              -                -                   -
       Total expenses                                                             -                 -            -              -                -                   -

      Change in net assets                                                        -                 -            -              -                -                   -

      Net assets - beginning of year (per prior year template)                    -                 -            -              -                -     633,714,382
      Restatements                                                                -                 -            -              -                -               -
      Net assets - end of year                                   $                -   $             -   $        -   $          -   $            -   $           -

      (Ending net assets agree with Exhibit A)                          OK                    OK            OK           OK              OK

Notes
(1) If the Foundation's separately issued Statement of Activities includes more than one column, key the amounts from the "Total" column.
    Also, if separate sections are presented for "Changes in unrestricted net assets", "Changes in temporarily restricted net assets", and
    "Changes in permanently restricted net assets", the amounts from each section should be added together.
(2) Membership fees that are exchange transactions should be included with "Sales and services". Conversely, membership fees that are
    nonexchange transactions should be included with "Gifts, donations, and contributions".
(3) Resource flows between foundations should be reported as revenues and expenses (and not as transfers) since each foundation is a
    separate legal entity. Under GASB 34, resource flows between a primary government and its discretely presented component units
    (and between component units) should be reported as if they were external transactions - that is, as revenues and expenses.
 ** See Adjustments tab for further breakdown.
         78d51b91-5777-45fc-8ddc-32b2c2f4dc47.xls Exh B                                   5 of 15                                                        4/21/2011
Problem - Must equal the total prior year ending per CAFR Foundation template




       78d51b91-5777-45fc-8ddc-32b2c2f4dc47.xls Exh B                           6 of 15   4/21/2011
UNC - Chapel Hill Foundations                                                                                                                  Exhibit C
CAFR Adjustments
State Fiscal Year June 30, 2009

                                                                 Name of
                                                                Foundation                              0            0            0            Total
                  Analysis - CAFR Format (1)

      Investments
      With UNC Investment Fund, LLC (2)
130     Restricted/endowment investments                    $                -    $             -   $        -   $        -   $        -   $           -
105     Other investments                                                    -                  -            -            -            -               -
      With University Investment Pool (3)
130     Restricted/endowment investments                                     -                  -            -            -            -               -
105     Other investments                                                    -                  -            -            -            -               -
      All Other Investments
130     Restricted/endowment investments                                     -                  -            -            -            -               -
105     Other investments                                                    -                  -            -            -            -               -
            Total                                                            -                  -            -            -            -               -
      (Note: Should equal amount on Exhibit A)                     OK                      OK           OK           OK           OK

      Property and equipment, net (4)
140     Unrestricted property/equipment, nondepreciable                      -                  -            -            -            -               -
145     Unrestricted property/equipment, depreciable, net                    -                  -            -            -            -               -
140     Restricted property/equipment, nondepreciable                        -                  -            -            -            -               -
145     Restricted property/equipment, depreciable, net                      -                  -            -            -            -               -
           Total                                                             -                  -            -            -            -               -
      (Note: Should equal amount on Exhibit A)                     OK                      OK           OK           OK           OK

    Split interest agreement obligations
260   Current portion                                                        -                  -            -            -            -               -
261   Noncurrent portion                                                     -                  -            -            -            -               -
          Total                                                              -                  -            -            -            -               -
    (Note: Should equal amount on Exhibit A)                       OK                      OK           OK           OK           OK

    Annuities payable
260   Current portion                                                        -                  -            -            -            -               -
261   Noncurrent portion                                                     -                  -            -            -            -               -
         Total                                                               -                  -            -            -            -               -
    (Note: Should equal amount on Exhibit A)                       OK                      OK           OK           OK           OK

    Capital leases payable
260  Current portion                                                         -                  -            -            -            -               -
261  Noncurrent portion                                                      -                  -            -            -            -               -
        78d51b91-5777-45fc-8ddc-32b2c2f4dc47.xls Adjustments                     7 of 15                                                   4/21/2011
UNC - Chapel Hill Foundations                                                                                                  Exhibit C
CAFR Adjustments
State Fiscal Year June 30, 2009

                                                              Name of
                                                             Foundation                          0        0        0           Total
         Total                                                            -                  -        -        -        -               -
    (Note: Should equal amount on Exhibit A)                    OK                      OK       OK       OK       OK




      78d51b91-5777-45fc-8ddc-32b2c2f4dc47.xls Adjustments                    8 of 15                                       4/21/2011
UNC - Chapel Hill Foundations                                                                                                    Exhibit C
CAFR Adjustments
State Fiscal Year June 30, 2009

                                                                Name of
                                                               Foundation                          0        0        0           Total
    Notes payable
260   Current portion                                                       -                  -        -        -        -               -
261   Noncurrent portion                                                    -                  -        -        -        -               -
         Total                                                              -                  -        -        -        -               -
    (Note: Should equal amount on Exhibit A)                      OK                      OK       OK       OK       OK

    Bonds payable
260   Current portion                                                       -                  -        -        -        -               -
261   Noncurrent portion                                                    -                  -        -        -        -               -
         Total                                                              -                  -        -        -        -               -
    (Note: Should equal amount on Exhibit A)                      OK                      OK       OK       OK       OK

    Gifts, donations, and contributions
500   Noncapital gifts                                                      -                  -        -        -        -               -
510   Capital gifts                                                         -                  -        -        -        -               -
520   Additions to endowments                                               -                  -        -        -        -               -
          Total                                                             -                  -        -        -        -               -
    (Note: Should equal amount on Exhibit B)                      OK                      OK       OK       OK       OK


                Elimination Data - CAFR Level

    Payments to University (accrual) (5)
604   Student tuition and fees recognized by University                     -                  -        -        -        -               -
600   Noncapital gift revenues recognized by University                     -                  -        -        -        -               -
602   Capital gift revenues recognized by University                        -                  -        -        -        -               -
         Total                                                              -                  -        -        -        -               -
    (Note: Should equal amount on Exhibit B)                      OK                      OK       OK       OK       OK


                        Other Information

      Foundation's fiscal year-end date (MM/DD/YY)                 -                      -        -        -        -

      Notes payable
        Notes payable - capital                                             -                  -        -        -        -               -
        Notes payable - noncapital                                          -                  -        -        -        -               -
           Total                                                            -                  -        -        -        -               -
      (Note: Should equal amount on Exhibit A)                    OK                      OK       OK       OK       OK

        78d51b91-5777-45fc-8ddc-32b2c2f4dc47.xls Adjustments                    9 of 15                                       4/21/2011
UNC - Chapel Hill Foundations                                                                                                                Exhibit C
CAFR Adjustments
State Fiscal Year June 30, 2009

                                                                  Name of
                                                                 Foundation                           0            0            0            Total

    Bonds payable
      Bonds payable - capital                                                 -               -            -            -            -               -
      Bonds payable - noncapital                                              -               -            -            -            -               -
         Total                                                                -               -            -            -            -               -
    (Note: Should equal amount on Exhibit A)                        OK                   OK           OK           OK           OK

    Unspent debt proceeds - notes and bonds (6)
     Amount of unspent proceeds - capital debt                                -               -            -            -            -               -
     Amount of unspent proceeds - noncapital debt                             -               -            -            -            -               -
        Total                                                                 -               -            -            -            -               -


    Automatic Calculations - GASB 34 Categories (7)
    Invested in capital assets, net of related debt
      Capital assets, net                                    $                -     $         -   $        -   $        -   $        -   $           -
      Less: Capital leases payable                                            -               -            -            -            -               -
      Less: Notes payable - capital                                           -               -            -            -            -               -
      Less: Bonds payable - capital                                           -               -            -            -            -               -
      Add: Amount of unspent proceeds - capital debt                          -               -            -            -            -               -
       Invested in capital assets, net of related debt                        -               -            -            -            -               -

    Restricted, expendable net assets
     Temporarily restricted net assets per Exhibit A                          -               -            -            -            -               -
     Less: Restricted property/equipment, nondepreciable                      -               -            -            -            -               -
     Less: Restricted property/equipment, depreciable, net                    -               -            -            -            -               -
       Restricted, expendable net assets per Exhibit D                        -               -            -            -            -               -

    Unrestricted net assets
     Total net assets per Exhibit A                                           -               -            -            -            -               -
     Less: Invested in capital assets, net of related debt                    -               -            -            -            -               -
     Less: Restricted, expendable net assets                                  -               -            -            -            -               -
     Less: Restricted, nonexpendable net assets                               -               -            -            -            -               -
       Unrestricted net assets per Exhibit D                                  -               -            -            -            -               -




      78d51b91-5777-45fc-8ddc-32b2c2f4dc47.xls Adjustments                        10 of 15                                               4/21/2011
UNC - Chapel Hill Foundations                                                                                                    Exhibit C
CAFR Adjustments
State Fiscal Year June 30, 2009

                                                                      Name of
                                                                     Foundation                              0        0   0      Total
Notes:

(1) The "Analysis - CAFR Format" section provides additional details that are necessary to convert the
    financial statements of private foundations from the FASB 117 format to the GASB 34 format (e.g.,
    breakdown of investments into restricted/other investments, long-term debt into current/noncurrent
    portions, capital assets into depreciable/nondepreciable portions, and gifts and donations into
    noncapital/capital gifts and additions to endowments).

(2) This breakdown is needed by OSC to reconcile the amounts reported as held by the UNC Investment
    Fund LLC to the amount reported by the foundation.

(3) Investments with university investment pool should only include amounts invested with the university's
    own pool (exclude amounts invested with UNC Investment Fund, LLC). This breakdown is needed by
    OSC to reconcile total investments per the university CAFR worksheets to the financial statements.

(4) Property and equipment should be broken down between amounts that are included in unrestricted net
    assets and amounts that are included in temporarily restricted net assets on the foundation's balance
    sheet. FASB 116 allows not-for-profits the option of recording gifts of capital assets as either unrestricted
    or temporarily restricted (Note: Under the temporarily restricted option, capital assets are reclassified to
    unrestricted as the asset is depreciated or over the term of the restriction, if shorter). This breakdown is
    needed by OSC to properly calculate restricted net assets per GASB 34.

(5) In the State CAFR, universities and component unit foundations are presented in a single column.
    Therefore, to avoid overstating revenues, OSC will make a CAFR level entry to eliminate foundation
    payments to universities (per Exhibit B) and the related revenues recognized by universities. OSC
    needs this breakdown for the elimination entry.

(6) Include the unspent debt proceeds (bonds/notes) related to outstanding capital and noncapital debt as of
    June 30. As required by GASB 34, paragraph 33, the unspent portion of bonds and notes payable should
    reduce the net asset balance of the component that includes the unspent cash. For example, if a foundation
    has unspent capital debt proceeds at year-end, the portion of the debt attributable to the unspent proceeds
    should not be included in the calculation of "invested in capital assets, net of related debt". Rather, that
    portion of the debt should be included in the same net assets component as the unspent proceeds (i.e.,
    "Unrestricted" under the FASB 117 model).

(7) Net assets "Permanently restricted" on Exhibit A roll directly to "Restricted nonexpendable - Higher education"
    on Exhibit D.




         78d51b91-5777-45fc-8ddc-32b2c2f4dc47.xls Adjustments                     11 of 15                                    4/21/2011
UNC - Chapel Hill Foundations                                                                       Exhibit D
Statement of Net Assets - CAFR Format
State Fiscal Year June 30, 2009


      ASSETS
100    Cash and cash equivalents                                          $             -
105    Investments                                                                      -
110    Receivables, net                                                                 -
115    Inventories                                                                      -
120    Prepaid items                                                                    -
125    Notes receivable, net                                                            -
130    Restricted investments                                                           -
135    Deferred charges                                                                 -
140    Capital assets - nondepreciable                                                  -
145    Capital assets - depreciable, net                                                -
      Total assets                                                                      -

      LIABILITIES
200     Accounts payable and accrued liabilities                                        -
202     Due to the University (1)                                                       -
203     Grants payable to the University (1)                                            -
205     Unearned revenue                                                                -
210     Interest payable                                                                -
215     Deposits payable                                                                -
220     Funds held for others                                                           -
        Long-term liabilities:
260       Due within one year                                                           -
261       Due in more than one year                                                     -
      Total liabilities                                                                 -

      NET ASSETS
      Invested in capital assets, net of related debt                                   -
      Restricted for:
        Nonexpendable:
          Higher education                                                              -
        Expendable:
          Higher education                                                              -
      Unrestricted                                                                      -
      Total net assets                                                    $             -

      (Assets minus liabilities equals net assets)                              OK

Notes:

(1) OSC will make a CAFR level entry to eliminate the "grossing-up" of assets and liabilities between
    universities and their component unit foundations.




78d51b91-5777-45fc-8ddc-32b2c2f4dc47.xls Exh D 12 of 15                                                 4/21/2011
UNC - Chapel Hill Foundations                                                                            Exhibit E
Statement of Activities - CAFR Format
For the State Fiscal Year Ended June 30, 2009


      Revenues
505   Noncapital grants                                               $              -
500   Noncapital gifts                                                               -
510   Capital gifts                                                                  -
520   Additions to endowments                                                        -
530   Investment income                                                              -
540   Sales and services                                                             -
550   Rental and lease earnings                                                      -
555   Gain on sale of capital assets                                                 -
560   Miscellaneous                                                                  -
          Total revenues                                                             -

    Expenses
604 Payments to University (accrual) - student tuition/fees (1)                      -
                                                   (1)
600 Payments to University (accrual) - noncapital                                    -
                                               (1)
602 Payments to University (accrual) - capital                                       -
610 Other expenses                                                                   -
       Total expenses                                                                -

      Increase (decrease) in net assets                                              -

      Net assets - beginning of year                                    633,714,382
      Restatement                                                                 -
      Net assets - end of year                                        $ 633,714,382

      (Ending net assets agree with Exhibit D)                            ERROR

Notes:

(1) OSC will make a CAFR level entry to eliminate the "grossing-up" of revenues and expenses between
    universities and their component unit foundations.

      (FYI: A university is not required to present cash flows data for a discretely presented component unit
      within its basic financial statements (GASB Statement 34, paragraph 125; Comprehensive
      Implementation Guide - 2003, question 2.3). Therefore, foundation cash flows data is not needed.)




78d51b91-5777-45fc-8ddc-32b2c2f4dc47.xls Exh E 13 of 15                                                   4/21/2011
UNC - Chapel Hill Foundations
Comments and Suggestions for Foundation template for Universities
For the State Fiscal Year Ended June 30, 2009




                                             14 of
78d51b91-5777-45fc-8ddc-32b2c2f4dc47.xls Comments 15                4/21/2011
         Updated for 6/30/08 totals on 3/16/09   Foundation 6/30/08
Agency                                           Ending Net Assets
Number                    University Name           Per CAFR        Equals "Net Assets - Beginning of Year" on Exhibit B and Exhibit E

U10      UNC - General Administration                            -
U20      UNC - Chapel Hill                                633,714,382
U30      North Carolina State University                  172,754,963
U40      UNC - Greensboro                                        -
U50      UNC - Charlotte                                   99,818,203
U55      UNC - Asheville                                   27,336,444
U60      UNC - Wilmington                                     583,011
U65      East Carolina University                          80,438,752
U70      North Carolina A&T State University                8,247,590
U75      Western Carolina University                          633,761
U80      Appalachian State University                      93,489,794
U82      UNC - Pembroke                                    18,536,773
U84      Winston-Salem State University                    12,326,607
U86      Elizabeth City State University                         -
U88      Fayetteville State University                      3,175,793
U90      North Carolina Central University                 11,620,305
U92      UNC School of the Arts                            24,187,580
87       NC School of Science and Math                      7,071,715
                                                      1,193,935,673

								
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