2016 – 2017

Financial Report Supporting Schedules

University of Arkansas

Fayetteville Campus Agricultural Experiment Station Cooperative Extension Service Arkansas Archeological Survey Criminal Justice Institute Clinton School AREON

Table of Contents

Supporting Exhibits

C.1 University of Arkansas, Fayetteville 3 C.2 Agricultural Experiment Station 4 C.3 Cooperative Extension Service 5 C.4 Arkansas Archeological Survey 6 C.5 Criminal Justice Institute 7 C.6 Clinton School 8 C.7 AREON 9

Supporting Schedules

1 Schedule of Current Funds Revenues 10 2 Schedule of Current Funds Expenditures 13 3 Schedule of Changes in Service Operations 15 4 Schedule of Changes in Auxiliary Enterprises 16 5 Schedule of Cash, Cash Equivalents, and Investments 17 6 Schedule of Changes in Loan Funds 18 7 Schedule of Changes in Endowments and Similar Funds 19 8 Schedule of Changes in Unexpended Plant Funds 25 9 Schedule of Changes in Renewals and Replacements 31 10 Schedule of Changes in Debt Retirement Funds 42 11 Schedule of Bonds Outstanding 43 12 Schedule of Capital Leases Outstanding and Notes Payable 45 13 Schedule of Net Investment in Plant 47

This document supports the University of Arkansas Annual Financial Reports issued for the fiscal year 2016-17. It is not intended to be used stand-alone, but as support and clarification for the amounts reported in the Annual report.

2 Exhibit C.1 University of Arkansas - Fayetteville Statement of Current Funds Revenues, Expenditures, and Other Changes for the Year Ended June 30, 2017 With Comparative Totals for the Year Ended June 30, 2016

Fiscal 2017 Fiscal 2016 Unrestricted Restricted Total Total

Revenues Educational and General Student Tuition and Fees $ 284,797,711 $ $ 284,797,711 $ 265,662,890 State Appropriations 127,851,983 1,752,534 129,604,517 130,476,689 Federal Appropriations Endowment Earnings 523,429 1,915,900 2,439,329 2,788,021 Federal Grants and Contracts 44,286,294 44,286,294 41,343,004 State and Local Grants and Contracts 56,216,840 56,216,840 49,764,205 Private Gifts, Grants, and Contracts 4,939,642 75,581,785 80,521,427 70,297,961 Sales and Services 8,695,310 206,790 8,902,100 8,929,836 Other Sources 8,717,606 771,981 9,489,587 15,130,480 Total Educational and General $ 435,525,681 $ 180,732,124 $ 616,257,805 $ 584,393,086

Auxiliary Enterprises 214,322,951 9,243,351 223,566,302 194,915,169 Total Revenues $ 649,848,632 $ 189,975,475 $ 839,824,107 $ 779,308,255

Expenditures and Mandatory Transfers Educational and General Instruction $ 171,836,414 $ 26,816,471 $ 198,652,885 $ 190,360,998 Research 26,005,845 39,940,420 65,946,265 57,636,934 Public Service 9,616,894 10,226,287 19,843,181 19,176,344 Academic Support 40,672,820 11,591,079 52,263,899 52,774,220 Student Services 28,133,792 1,345,152 29,478,944 27,643,078 Institutional Support 52,768,002 6,254,625 59,022,627 54,338,928 Operation and Maintenance of Plant 24,534,964 849 24,535,813 24,049,287 Scholarships and Awards 17,697,581 66,604,655 84,302,236 83,875,573 Total Educational and General Expenditures $ 371,266,312 $ 162,779,538 $ 534,045,850 $ 509,855,362

Mandatory Transfers for: Principal and Interest $ 27,624,606 $ 573,496 $ 28,198,102 $ 26,894,509 Loans Matching 0 Total Educational and General $ 398,890,918 $ 163,353,034 $ 562,243,952 $ 536,749,871

Auxiliary Enterprises Expenditures $ 151,227,111 $ 9,220,239 $ 160,447,350 $ 134,081,901 Mandatory Transfers for: Principal and Interest 31,187,910 31,187,910 28,440,099 Total Auxiliary Enterprises $ 182,415,021 $ 9,220,239 $ 191,635,260 $ 162,522,000

Total Expenditures and Mandatory Transfers $ 581,305,939 $ 172,573,273 $ 753,879,212 $ 699,271,871

Other Transfers and Additions/(Deductions) Excess of Restricted Receipts over Transfers to Revenues $ $ $ $ Plant Additions (63,718,134) (2,238,541) (65,956,675) (59,824,036) Other Transfers and Changes 9,999,024 (8,694,558) 1,304,466 1,218,651

Net Increase/(Decrease) for the Year $ 14,823,583 $ 6,469,103 $ 21,292,686 $ 21,430,999

3 Exhibit C.2 University of Arkansas - Agri Experiment Station Statement of Current Funds Revenues, Expenditures, and Other Changes for the Year Ended June 30, 2017 With Comparative Totals for the Year Ended June 30, 2016

Fiscal 2017 Fiscal 2016 Unrestricted Restricted Total Total

Revenues Educational and General State Appropriations $ 36,682,120 $ 1,549,481 $ 38,231,601 $ 39,021,613 Federal Appropriations 5,430,851 5,430,851 5,456,744 Endowment Earnings 170,014 170,014 168,543 Federal Grants and Contracts 4,752,255 4,752,255 8,301,668 State and Local Grants and Contracts 1,441,184 1,441,184 1,249,958 Private Gifts, Grants, and Contracts 12,253,455 12,253,455 10,014,957 Sales and Services 6,851,030 6,851,030 7,106,474 Other Sources 2,070,209 124,165 2,194,374 2,397,254 Total Educational and General $ 45,603,359 $ 25,721,405 $ 71,324,764 $ 73,717,211

Expenditures and Mandatory Transfers Educational and General Instruction $ $ 5,765 $ 5,765 $ 11,797 Research 44,790,481 21,380,502 66,170,983 67,544,758 Public Service Academic Support Student Services Institutional Support 39,501 39,501 30,016 Operation and Maintenance of Plant Scholarships and Awards 47,900 47,900 42,750 Total Educational and General Expenditures $ 44,790,481 $ 21,473,668 $ 66,264,149 $ 67,629,321

Mandatory Transfers for: Principal and Interest $ $ $ $ 4,829 Total Educational and General $ 44,790,481 $ 21,473,668 $ 66,264,149 $ 67,634,150

Other Transfers and Additions/(Deductions) Excess of Restricted Receipts over Transfers to Revenues $ $ $ $ Plant Additions (2,110,200) (2,110,200) (1,592,476) Other Transfers and Changes 310,732 (1,738,194) (1,427,462) (1,368,816)

Net Increase/(Decrease) for the Year $ (986,590) $ 2,509,543 $ 1,522,953 $ 3,121,769

4 Exhibit C.3 University of Arkansas - Cooperative Extension Service Statement of Current Funds Revenues, Expenditures, and Other Changes for the Year Ended June 30, 2017 With Comparative Totals for the Year Ended June 30, 2016

Fiscal 2017 Fiscal 2016 Unrestricted Restricted Total Total

Revenues Educational and General State Appropriations $ 31,939,085 $ $ 31,939,085 $ 33,949,348 Federal Appropriations 6,493,437 6,493,437 5,682,063 Endowment Earnings County Appropriations 4,144,629 4,144,629 3,449,528 Federal Grants and Contracts 4,970,333 4,970,333 5,492,317 State and Local Grants and Contracts 465,648 465,648 363,528 Private Gifts, Grants, and Contracts 427,170 5,708,024 6,135,194 5,465,930 Sales and Services 3,656,767 3,656,767 3,962,770 Other Sources 1,992,806 322 1,993,128 1,055,141 Total Educational and General $ 38,015,828 $ 21,782,393 $ 59,798,221 $ 59,420,625

Expenditures and Mandatory Transfers Educational and General Research $ $ $ $ Public Service 37,020,689 20,622,554 57,643,243 57,760,444 Academic Support Student Services Institutional Support Operation and Maintenance of Plant Scholarships and Awards Total Educational and General Expenditures $ 37,020,689 $ 20,622,554 $ 57,643,243 $ 57,760,444

Mandatory Transfers for: Principal and Interest $ $ $ $ Total Educational and General $ 37,020,689 $ 20,622,554 $ 57,643,243 $ 57,760,444

Other Transfers and Additions/(Deductions) Excess of Restricted Receipts over Transfers to Revenues $ $ $ $ Plant Additions Other Transfers and Changes 1,060,324 (1,037,104) 23,220 27,108

Net Increase/(Decrease) for the Year $ 2,055,463 $ 122,735 $ 2,178,198 $ 1,687,289

5 Exhibit C.4 University of Arkansas - Archeological Survey Statement of Current Funds Revenues, Expenditures, and Other Changes for the Year Ended June 30, 2017 With Comparative Totals for the Year Ended June 30, 2016

Fiscal 2017 Fiscal 2016 Unrestricted Restricted Total Total

Revenues Educational and General State Appropriations $ 2,467,394 $ 70,676 $ 2,538,070 $ 2,561,164 Federal Appropriations Endowment Earnings 4,349 4,349 Federal Grants and Contracts 35,172 35,172 64,274 State and Local Grants and Contracts 64,458 64,458 76,924 Private Gifts, Grants, and Contracts 33,141 11,390 44,531 85,508 Sales and Services Other Sources 11,541 11,541 305 Total Educational and General $ 2,516,425 $ 181,696 $ 2,698,121 $ 2,788,175

Expenditures and Mandatory Transfers Educational and General Instruction $ $ 70,948 $ 70,948 $ 59,122 Research 2,352,234 139,951 2,492,185 2,550,172 Public Service Academic Support 13,882 13,882 19,286 Total Educational and General Expenditures $ 2,366,116 $ 210,899 $ 2,577,015 $ 2,628,580

Mandatory Transfers for: Principal and Interest $ $ $ $ Total Educational and General $ 2,366,116 $ 210,899 $ 2,577,015 $ 2,628,580

Total Expenditures and Mandatory Transfers $ 2,366,116 $ 210,899 $ 2,577,015 $ 2,628,580

Other Transfers and Additions/(Deductions) Excess of Restricted Receipts over Transfers to Revenues$ $ $ $ Plant Additions (130,000) (130,000) Other Transfers and Changes (199) (7) (206)

Net Increase/(Decrease) for the Year $ 20,110 $ (29,210) $ (9,100) $ 159,595

6 Exhibit C.5 University of Arkansas - Criminal Justice Institute Statement of Current Funds Revenues, Expenditures, and Other Changes for the Year Ended June 30, 2017 With Comparative Totals for the Year Ended June 30, 2016

Fiscal 2017 Fiscal 2016 Unrestricted Restricted Total Total

Revenues Educational and General State Appropriations $ 2,075,769 $ $ 2,075,769 $ 2,075,769 Federal Grants and Contracts 1,114,603 1,114,603 699,425 State and Local Grants and Contracts 70,947 781,550 852,497 1,084,277 Private Gifts, Grants, and Contracts Sales and Services 7,887 7,887 6,425 Other Sources 61,044 61,044 20,000 Total Educational and General $ 2,215,647 $ 1,896,153 $ 4,111,800 $ 3,885,896

Expenditures and Mandatory Transfers Educational and General Instruction $ $ $ $ Research Public Service 2,682,357 1,638,208 4,320,565 4,066,096 Academic Support 0 Total Educational and General Expenditures $ 2,682,357 $ 1,638,208 $ 4,320,565 $ 4,066,096

Mandatory Transfers for: Principal and Interest $ $ $ $ Total Educational and General $ 2,682,357 $ 1,638,208 $ 4,320,565 $ 4,066,096

Total Expenditures and Mandatory Transfers $ 2,682,357 $ 1,638,208 $ 4,320,565 $ 4,066,096

Other Transfers and Additions/(Deductions) Excess of Restricted Receipts over Transfers to Revenues$ $ $ $ Plant Additions 68,755 68,755 56,459 Other Transfers and Changes 293,676 (293,676)

Net Increase/(Decrease) for the Year $ (104,279) $ (35,731) $ (140,010) $ (123,741)

7 Exhibit C.6 University of Arkansas - Clinton School Statement of Current Funds Revenues, Expenditures, and Other Changes for the Year Ended June 30, 2017 With Comparative Totals for the Year Ended June 30, 2016

Fiscal 2017 Fiscal 2016 Unrestricted Restricted Total Total

Revenues Educational and General Student Tuition and Fees $ 562,220 $ $ 562,220 $ 604,600 State Appropriations 2,315,575 2,315,575 2,370,575 Federal Grants and Contracts State and Local Grants and Contracts 15,000 15,000 104,000 Private Gifts, Grants, and Contracts 632,840 632,840 524,830 Sales and Services 1,860 1,860 2,614 Other Sources 23,791 23,791 31,222 Total Educational and General $ 2,903,446 $ 647,840 $ 3,551,286 $ 3,637,841

Expenditures and Mandatory Transfers Educational and General Instruction $ 1,784,798 $ 106,840 $ 1,891,638 $ 1,922,404 Research 4,582 4,582 Public Service 272 216,470 216,742 180,885 Academic Support 351,202 351,202 340,704 Student Services 177,332 177,332 161,287 Institutional Support 257,559 257,559 284,279 Operation and Maintenance of Plant 32,506 32,506 103,970 Scholarships and Awards 316,677 75,000 391,677 363,666 Total Educational and General Expenditures $ 2,920,346 $ 402,892 $ 3,323,238 $ 3,357,195

Mandatory Transfers for: Principal and Interest $ $ $ $ Total Educational and General $ 2,920,346 $ 402,892 $ 3,323,238 $ 3,357,195

Total Expenditures and Mandatory Transfers $ 2,920,346 $ 402,892 $ 3,323,238 $ 3,357,195

Other Transfers and Additions/(Deductions) Excess of Restricted Receipts over Transfers to Revenues$ $ $ $ Plant Additions Other Transfers and Changes

Net Increase/(Decrease) for the Year $ (16,900) $ 244,948 $ 228,048 $ 280,646

8 Exhibit C.7 University of Arkansas - AREON Statement of Current Funds Revenues, Expenditures, and Other Changes for the Year Ended June 30, 2017 With Comparative Totals for the Year Ended June 30, 2016

Fiscal 2017 Fiscal 2016 Unrestricted Restricted Total Total

Revenues Educational and General Student Tuition and Fees $ $ $ $ State Appropriations Federal Grants and Contracts State and Local Grants and Contracts 252,668 252,668 507,812 Private Gifts, Grants, and Contracts Sales and Services Other Sources 2,924,510 2,924,510 2,728,931 Total Educational and General $ 3,177,178 $ 0 $ 3,177,178 $ 3,236,743

Expenditures and Mandatory Transfers Educational and General Instruction $ $ $ $ Research Public Service Academic Support Student Services Institutional Support Operation and Maintenance of Plant 2,374,689 2,374,689 2,538,406 Scholarships and Awards Total Educational and General Expenditures $ 2,374,689 $ $ 2,374,689 $ 2,538,406

Mandatory Transfers for: Principal and Interest $ $ $ $ Total Educational and General $ 2,374,689 $ $ 2,374,689 $ 2,538,406

Total Expenditures and Mandatory Transfers $ 2,374,689 $ $ 2,374,689 $ 2,538,406

Other Transfers and Additions/(Deductions) Excess of Restricted Receipts over Transfers to Revenues $ $ $ $ Plant Additions (630,442) (630,442) (750,000) Other Transfers and Changes

Net Increase/(Decrease) for the Year $ 172,047 $ 0 $ 172,047 $ (51,663)

9 Schedule 1

University of Arkansas Schedule of Current Funds Revenues For the Year Ended June 30, 2017

2015-16 Unrestricted Restricted Total Total Educational and General Tuition and Fees U. of A. - Fayetteville Registration - Fall $ 84,931,664 $ $ 84,931,664 $ 80,496,910 Registration - Spring 78,881,282 78,881,282 75,206,388 Registration - Summer I 4,751,460 4,751,460 5,015,488 Registration - Summer II 4,255,212 4,255,212 3,862,855 Registration - Intersession Fall Registration - Intersession Spring Registration - Intersession Summer Off-Campus Centers & Distance Education 30,482,133 30,482,133 28,037,372 Non-Resident Tuition 42,787,298 42,787,298 37,871,874 Independent Study Fees 388,731 388,731 558,695 Cultural Activity Fees 274,668 274,668 517,030 Application Fees 1,193,698 1,193,698 1,157,125 Late Payment Fee 525,372 525,372 553,100 TELE Fees 13,131,067 13,131,067 12,445,118 Network and Technology Fees 7,258,483 7,258,483 6,193,832 Freshman Orientation 813,898 813,898 491,120 Facilities Fees 11,419,394 11,419,394 9,739,552 National/International Credit Fees 887,424 887,424 864,734 Other 2,815,927 2,815,927 2,651,697 $ 284,797,711 $ $ 284,797,711 $ 265,662,890

Clinton School Registration - Spring $ 562,220 $ $ 562,220 $ 604,600 Application Fees Other $ 562,220 $ $ 562,220 $ 604,600 Total Tuition and Fees $ 285,359,931 $ $ 285,359,931 $ 266,267,490

State of Arkansas Appropriations U. of A. - Fayetteville $ 127,851,983 $ 1,752,534 $ 129,604,517 $ 130,476,689 Agricultural Experiment Station 36,682,120 1,549,481 38,231,601 39,021,613 Cooperative Extension Service 31,939,085 31,939,085 33,949,348 Arkansas Archeological Survey 2,467,394 70,676 2,538,070 2,561,164 Criminal Justice Institute 2,075,769 2,075,769 2,075,769 Clinton School 2,315,575 2,315,575 2,370,575 AREON Total State of Arkansas Appropriations $ 203,331,926 $ 3,372,691 $ 206,704,617 $ 210,455,158

Federal Appropriations Agricultural Experiment Station Hatch $ $ 3,318,651 $ 3,318,651 $ 3,324,035 Regional Research 979,720 979,720 981,038 Animal Health 77,353 77,353 79,817 McIntire-Stennis 1,055,127 1,055,127 1,071,854 $ $ 5,430,851 $ 5,430,851 $ 5,456,744 Cooperative Extension Service Smith-Lever $ $ 6,493,437 $ 6,493,437 $ 5,682,063 Civil Service Retirement $ $ 6,493,437 $ 6,493,437 $ 5,682,063 Total Federal Appropriations $ $ 11,924,288 $ 11,924,288 $ 11,138,807

County Appropriations Cooperative Extension Service $ $ 4,144,629 $ 4,144,629 $ 3,449,528 Total County Appropriations $ $ 4,144,629 $ 4,144,629 $ 3,449,528

10 Schedule 1

University of Arkansas Schedule of Current Funds Revenues For the Year Ended June 30, 2017

2015-16 Unrestricted Restricted Total Total Endowment Income U. of A. Fayetteville $ 523,429 $ $ 523,429 $ 939,020 Agricultural Experiment Station 170,014 170,014 168,543 Arkansas Archeological Survey 4,349 4,349 Total Endowment Income $ 527,778 $ 170,014 $ 697,792 $ 1,107,563

Federal Grants and Contracts U. of A. Fayetteville $ $ 22,649,558 $ 22,649,558 $ 19,037,912 Agricultural Experiment Station 4,752,255 4,752,255 8,301,668 Cooperative Extension Service 4,970,333 4,970,333 5,492,317 Arkansas Archeological Survey 35,172 35,172 64,274 Criminal Justice Institute 1,114,603 1,114,603 699,425 Clinton School AREON Total Federal Grants and Contracts $ $ 33,521,921 $ 33,521,921 $ 33,595,596

State and Local Grants and Contracts U. of A. Fayetteville $ $ 29,692,844 $ 29,692,844 $ 22,550,174 Agricultural Experiment Station 1,441,184 1,441,184 1,249,958 Cooperative Extension Service 465,648 465,648 363,528 Arkansas Archeological Survey 64,458 64,458 76,924 Criminal Justice Institute 70,947 781,550 852,497 1,084,277 Clinton School 15,000 15,000 104,000 AREON 252,668 252,668 507,812 Total State and Local Grants and Contracts $ 323,615 $ 32,460,684 $ 32,784,299 $ 25,936,673

Private Gifts, Grants, and Contracts U. of A. Fayetteville $ 4,939,642 $ 24,248,482 $ 29,188,124 $ 24,670,038 Agricultural Experiment Station 10,662,249 10,662,249 8,147,296 Cooperative Extension Service 427,170 5,708,024 6,135,194 5,465,930 Arkansas Archeological Survey 33,141 11,390 44,531 85,508 Criminal Justice Institute Clinton School 451,000 451,000 310,000 Total Private Gifts, Grants, and Contracts $ 5,399,953 $ 41,081,145 $ 46,481,098 $ 38,678,772

Sales and Services U. of A. Fayetteville State of Arkansas M & R Sales $ 10,084 $ $ 10,084 $ 55,385 Transcripts 279,456 279,456 135,605 Veterans Administration Independent Study Books & Supplies Independent Study Book Rentals Administrative Cost Recovery 99 99 465 Educational Departments 1,281,231 1,281,231 1,367,692 Computing Services 33,266 33,266 33,476 University of Arkansas Press 601,285 601,285 598,494 Sales to Auxiliaries Other Sales and Services 6,489,889 206,790 6,696,679 6,738,719 $ 8,695,310 $ 206,790 $ 8,902,100 $ 8,929,836

Agricultural Experiment Station Agricultural Products & Services $ 3,772,614 $ $ 3,772,614 $ 4,104,041 State of Arkansas M & R Sales 11,251 11,251 12,486 Other Sales and Services 991,215 991,215 868,818 $ 4,775,080 $ $ 4,775,080 $ 4,985,345

11 Schedule 1

University of Arkansas Schedule of Current Funds Revenues For the Year Ended June 30, 2017

2015-16 Unrestricted Restricted Total Total Cooperative Extension Service $ 3,656,767 $ $ 3,656,767 $ 3,962,770 Arkansas Archeological Survey Criminal Justice Institute 7,887 7,887 6,425 Clinton School 1,860 1,860 2,614 Soils Testing State Plant Board 2,075,950 2,075,950 2,121,129 AREON $ 5,742,464 $ $ 5,742,464 $ 6,092,938 Total Sales and Services $ 19,212,854 $ 206,790 $ 19,419,644 $ 20,008,119

Other Sources U. of A. - Fayetteville Rent $ 158,549 $ $ 158,549 $ 147,374 Investment Income 1,073,117 1,073,117 3,796,059 Traffic Fines 30,369 30,369 24,929 Library Fines 12,286 12,286 13,725 Treasurer Fines 13,522 13,522 7,926 Administrative Service Charge 22,467 22,467 4,341 Legal Education Fund 873,476 873,476 873,476 U of A Foundation 48,995,977 48,995,977 45,627,923 Insurance Settlements 30,403 30,403 3,260 Royalty Income 5,479 5,479 11,608 Miscellaneous Income 6,497,938 5,600 6,503,538 5,757,317 $ 8,717,606 $ 49,001,577 $ 57,719,183 $ 56,267,938

Agricultural Experiment Station Royalty Income $ 1,096,304 $ $ 1,096,304 $ 1,033,537 Investment Income 15,115 20,875 35,990 2,167 U of A Foundation 1,591,206 1,591,206 1,867,661 Miscellaneous Income 958,790 103,290 1,062,080 1,361,550 $ 2,070,209 $ 1,715,371 $ 3,785,580 $ 4,264,915

Cooperative Extension Service $ 1,992,806 $ 322 $ 1,993,128 $ 1,055,141 Arkansas Archeological Survey 11,541 11,541 305 Criminal Justice Institute 61,044 61,044 20,000 Clinton School 23,791 181,840 205,631 246,052 AREON 2,924,510 2,924,510 2,728,931 $ 5,013,692 $ 182,162 $ 5,195,854 $ 4,050,429 Total Other Sources $ 15,801,507 $ 50,899,110 $ 66,700,617 $ 64,583,282

Student Aid U. of A. - Fayetteville Federal Government $ $ 21,636,736 $ 21,636,736 $ 22,305,092 State of Arkansas 26,523,996 26,523,996 27,214,031 Endowment Income 1,915,900 1,915,900 1,849,001 Gifts 2,337,326 2,337,326 2,457,840 Other Sources 766,381 766,381 2,032,625 Total Student Aid $ $ 53,180,339 $ 53,180,339 $ 55,858,589 Total Educational and General $ 529,957,564 $ 230,961,611 $ 760,919,175 $ 731,079,577

Auxiliary Enterprises Intercollegiate Athletics $ 109,506,512 $ 9,242,235 $ 118,748,747 $ 111,892,085 Bookstore 15,130,837 15,130,837 16,155,924 Residence Life 65,717,121 1,116 65,718,237 43,538,933 Fraternity and Sorority Housing (18,077) (18,077) (13,349) Arkansas Union 10,854 10,854 25,651 Student Health 9,757,962 9,757,962 9,572,405 Transit and Parking Services 11,339,282 11,339,282 10,700,374 Student Activities 2,358,906 2,358,906 2,327,582 Other Auxiliary Enterprises 519,554 519,554 715,564 Total Auxiliary Enterprises $ 214,322,951 $ 9,243,351 $ 223,566,302 $ 194,915,169

Total Current Funds Revenues (to Exhibit B) $ 744,280,515 $ 240,204,962 $ 984,485,477 $ 925,994,746

12 Schedule 2 University of Arkansas Schedule of Current Funds Expenditures For the Year Ended June 30, 2017

2015-16 Unrestricted Restricted Total Total Educational and General Instruction U of A - Fayetteville College of Agriculture and Home Economics $ 11,049,419 $ 65,229 $ 11,114,648 $ 10,741,455 School of Architecture 3,675,265 339,392 4,014,657 3,998,455 Fulbright College of Arts and Sciences 67,810,166 6,709,659 74,519,825 69,763,093 College of Business Administration 29,568,317 3,373,572 32,941,889 29,948,550 College of Education 19,917,335 11,632,684 31,550,019 28,342,469 College of Engineering 20,628,107 1,639,711 22,267,818 20,422,593 Graduate School 3,747,969 3,747,969 1,032,342 School of Law 6,554,456 265,995 6,820,451 6,346,379 Division of Continuing Education 3,843,788 267,757 4,111,545 3,132,530 Summer School & Other Instruction 5,041,592 2,522,472 7,564,064 16,633,132 Total Instruction - U of A - Fayetteville $ 171,836,414 $ 26,816,471 $ 198,652,885 $ 190,360,998

Agricultural Experiment Station $ $ 5,765 $ 5,765 $ 11,797 Arkansas Archeological Survey 70,948 70,948 59,122 Clinton School 1,784,798 106,840 1,891,638 1,922,404 Total Instruction $ 173,621,212 $ 27,000,024 $ 200,621,236 $ 192,354,321

Research U of A - Fayetteville Research and Sponsored Programs $ 805,688 $ $ 805,688 $ 792,085 Bio-Mass Research Center College of Agriculture and Home Economics 589,258 898,000 1,487,258 775,479 School of Architecture 113,606 37,520 151,126 79,043 Fulbright College of Arts and Sciences 7,212,028 9,115,241 16,327,269 14,833,985 College of Business Administration 1,159,650 2,551,550 3,711,200 3,829,144 College of Education 1,747,800 9,699,204 11,447,004 8,428,514 College of Engineering 9,379,447 15,250,314 24,629,761 22,526,319 Graduate School 29,503 468,517 498,020 692,173 School of Law 550,983 602,606 1,153,589 602,308 Other Research 4,417,882 1,317,465 5,735,347 5,077,885 Total Research - U of A - Fayetteville $ 26,005,845 $ 39,940,417 $ 65,946,262 $ 57,636,935

Agricultural Experiment Station $ 44,790,482 $ 21,380,504 $ 66,170,986 $ 67,717,152 Arkansas Archeological Survey 2,352,233 139,952 2,492,185 2,377,777 Cooperative Extension Service Clinton School 4,582 4,582 Criminal Justice Institute Total Research $ 73,148,560 $ 61,465,455 $ 134,614,015 $ 127,731,864

Public Services U of A - Fayetteville College of Agriculture and Home Economics $ 59,646 $ 1,034 $ 60,680 $ 34,236 School of Architecture 2,386,652 1,033,905 3,420,557 3,329,471 Fulbright College of Arts and Sciences 1,158,446 445,019 1,603,465 1,075,576 School of Law 569,542 840,918 1,410,460 1,173,009 College of Business Administration 991,031 1,390,120 2,381,151 2,106,332 College of Education 503,305 4,153,504 4,656,809 4,142,871 College of Engineering 658,535 294,837 953,372 1,243,953 Division of Continuing Education 234,239 67,637 301,876 2,856,401 Other Public Service 3,055,497 1,999,311 5,054,808 3,214,495 Total Public Services - U of A - Fayetteville $ 9,616,893 $ 10,226,285 $ 19,843,178 $ 19,176,344

Agricultural Experiment Station $ $ $ $ Arkansas Archeological Survey Cooperative Extension Service 37,020,689 20,622,556 57,643,245 57,760,444 Criminal Justice Institute 2,682,358 1,638,208 4,320,566 4,066,096 Clinton School 272 216,470 216,742 180,885 AREON Winthrop Rockefeller Institute Total Public Services $ 49,320,212 $ 32,703,519 $ 82,023,731 $ 81,183,769

13 Schedule 2 University of Arkansas Schedule of Current Funds Expenditures For the Year Ended June 30, 2017

2015-16 Unrestricted Restricted Total Total Academic Support U of A - Fayetteville College of Agriculture and Home Economics $ 1,845,466 $ 162,948 $ 2,008,414 $ 2,196,383 School of Architecture 2,782,702 305,816 3,088,518 4,635,717 Fulbright College of Arts and Sciences 3,344,786 1,319,101 4,663,887 4,842,310 College of Business Administration 3,889,006 1,133,666 5,022,672 4,022,133 College of Education 2,588,552 149,744 2,738,296 2,248,437 College of Engineering 1,745,833 312,719 2,058,552 2,098,935 School of Law 1,716,957 71,862 1,788,819 1,647,731 Graduate School 3,263,889 6,427,327 9,691,216 10,261,305 Division of Continuing Education 2,580,943 2,580,943 2,323,816 Library 13,944,815 1,559,611 15,504,426 15,568,312 Organized Activities Related to Instruction 21,115 21,115 17,157 University of Arkansas Press 856,676 80,712 937,388 970,185 Other Academic Support 2,092,080 67,573 2,159,653 1,941,799 Total Academic Support - U of A - Fayetteville $ 40,672,820 $ 11,591,079 $ 52,263,899 $ 52,774,220

Arkansas Archeological Survey $ 13,882 $ $ 13,882 $ 19,286 Criminal Justice Institute Clinton School 351,202 351,202 340,704 Total Academic Support $ 41,037,904 $ 11,591,079 $ 52,628,983 $ 53,134,210

Student Services U of A - Fayetteville Admissions $ $ $ $ Career Planning and Placement 813,671 24,085 837,756 863,536 Education 3,148,167 18,608 3,166,775 3,272,423 General Administration 16,365,034 588,056 16,953,090 13,359,605 Computing Services General Student Services 895,194 Registrar 1,851,542 1,851,542 1,690,930 Student Development 3,240 3,240 19,361 Student Financial Aid 1,208,136 Other Student Services 5,952,138 714,403 6,666,541 6,333,894 Total Student Services - U of A - Fayetteville $ 28,133,792 $ 1,345,152 $ 29,478,944 $ 27,643,079

Clinton School $ 177,332 $ $ 177,332 $ 161,286 Total Student Services $ 28,311,124 $ 1,345,152 $ 29,656,276 $ 27,804,365

Institutional Support U of A - Fayetteville General Administration $ 11,821,466 $ 422,295 $ 12,243,761 $ 11,446,995 General Institutional Expenses 40,946,536 5,832,330 46,778,866 42,891,934 Total Institutional Support - U of A - Fayetteville $ 52,768,002 $ 6,254,625 $ 59,022,627 $ 54,338,929

Agricultural Experiment Station $ $ 39,501 $ 39,501 $ 30,016 Clinton School 257,559 257,559 284,278 Total Institutional Support $ 53,025,561 $ 6,294,126 $ 59,319,687 $ 54,653,223

Operation and Maintenance of Plant U of A - Fayetteville General Operation and Maintenance $ 13,451,316 $ 849 $ 13,452,165 $ 12,222,500 Utilities 11,083,648 11,083,648 11,826,786 Total O & M of Plant - U of A - Fayetteville $ 24,534,964 $ 849 $ 24,535,813 $ 24,049,286

Clinton School $ 32,506 $ $ 32,506 $ 103,970 AREON 2,374,689 2,374,689 2,538,407 Total Operation and Maintenance of Plant $ 26,942,159 $ 849 $ 26,943,008 $ 26,691,663

Scholarships and Awards U of A - Fayetteville General Scholarships and Awards $ 17,697,581 $ 66,604,655 $ 84,302,236 $ 83,875,573 Total Scholarships and Awards - U of A - Fayetteville $ 17,697,581 $ 66,604,655 $ 84,302,236 $ 83,875,573

Agricultural Experiment Station $ $ 47,900 $ 47,900 $ 42,750 Clinton School 316,677 75,000 391,677 363,666 Total Scholarships and Awards $ 18,014,258 $ 66,727,555 $ 84,741,813 $ 84,281,989 Total Educational and General $ 463,420,990 $ 207,127,759 $ 670,548,749 $ 647,835,404

Auxiliary Enterprises U of A - Fayetteville Intercollegiate Athletics $ 80,691,950 $ 9,218,910 $ 89,910,860 $ 85,335,381 Bookstore 14,677,520 14,677,520 15,465,010 Residence Life 38,601,605 1,329 38,602,934 17,298,736 Fraternity and Sorority Housing 2,333 2,333 2,444 Arkansas Union 624,989 624,989 573,509 Student Health 8,474,192 8,474,192 7,959,435 Transit and Parking Services 4,335,473 4,335,473 3,904,949 Student Activities 1,877,764 1,877,764 1,762,023 Other Auxiliary Enterprises 1,941,285 1,941,285 1,780,414 Total Auxiliary Enterprises $ 151,227,111 $ 9,220,239 $ 160,447,350 $ 134,081,901 Total Current Funds Expenditures $ 614,648,101 $ 216,347,998 $ 830,996,099 $ 781,917,305

14 Schedule 3 University of Arkansas Schedule of Changes in Service Operations For the Year Ended June 30, 2017

Balance Balance July 1, 2016 Revenues Transfers Expenditures June 30, 2017

Analytical Services Lab $ 32,727 $ $ (27,895) $ (7,311) $ 12,143 Analytical Svc Lab - CVEG - Braham (600) 600 Analytical Svc Lab - CVEG - Hall 4,000 4,000 Analytical Svc Lab - CVEG - M Bernhardt 2,000 2,000 Analytical Svc Lab - CVEG - Prinz 5,000 2,629 2,371 Animal Care Service Center (10,750) (11,195) 445 Anthropological Service AR Electrical Characterization (AREC) Lab 14,862 5,380 9,482 AVCB Reserve 265,004 276,095 (469,775) 71,324 Business Reply Mail (298) (298) Campus Gas Clearing CESU Non-Stock Clearing (51,561) (51,561) CESU Non-Stock Clearing Special Rates (185,409) (185,409) Commutational Mechanics Lab-CVEG 87,378 14,711 (17,779) 20,807 63,503 Concrete Testing-M.Hale-CVEG 965 965 Departmental Copier Inventories 16,818 (5,387) 22,205 Departmental Networks (48,882) (197,652) 148,770 DNA Testing 6,439 6,439 Electron Optics Facility 51,751 16,598 115,000 40,111 143,238 ELEG Optoelectronics Research Lab 37,188 8,200 (4,616) 3,959 36,813 ENRC Plotter/Poster Services 50 (1,650) (1,650) 50 Express Copy Services 5,759 (7,343) (1,584) Express Shipping Services 40,797 (13,168) 27,629 Environmental Engineering Research 5,385 2,000 (5,566) 12,951 Flow Cytometry Facility 3,533 (3,058) 6,591 FM ARTP Accounts Receivables 29,890 3,925 33,815 Gallery Services Gas Cylinder Management 24,907 (24,099) 808 Geophysical Research Services 18,097 10,931 7,166 Glass Shop Herbarium Publications 531 531 Herbarium Services HIDEC Fab 68,866 103,497 2,120 60,252 114,231 High Performance Computing center Insurance Damage Claims 225 225 Inventories Large Format Poster Printing 5,706 (2,302) 8,008 Law CLE 4,840 4,840 Law Library - Fax, Copies, Fines 1,655 1,655 Law Library - Lost Books 1,938 (162) 2,100 Load Testing - CVEG - Heymsfield Lumina Equipment - BMEG Mailing Services - Bulk Permit 278 (117) (117) Mailing Services Inventory 48,182 16,450 31,732 Mailing Services Reserve 37,098 4,338 41,436 MASC Statistics Consulting Center Mass Spectrometry 63,335 5,760 (13,632) 82,727 Materials Characterization Lab 57,538 9,621 (2,800) (45,627) 109,986 Mechanical Modeling 1,336 100 52,728 54,130 34 Microarray Scanner Usage 1,300 1,300 Military Property Custodian Multiphoton Microscope Shared Facility (8,373) 8,373 Nanofab 1,410 1,680 (2,916) 6,006 NMLT Equipment User Fees 500 3,489 3,989 Passport Services 14,416 (8,427) 5,989 Physical Plant Accounts Receivable 50,060 5,307 55,367 Physical Plant Administrative Cost Recovery (84,938) (84,938) Physical Plant Contract Clearing 225 112,601 112,826 Physical Plant Electricity Clearing Physical Plant Stock Inventory 523,276 79,748 146,746 456,278 Physical Plant Water Clearing Physics Shop 22,279 8,330 13,949 Postage Due 1 (193) (192) Postage Meter Service 11,431 11,431 Printing Services 118,063 (500,314) (382,251) Printing Services Inventories 76,322 20,324 55,998 Printing Services Reserve 254,345 126,000 344,318 119,303 605,360 Research Instrumentation Services 793 793 R. Williams - ASL - CVEG (3,453) (3,453) Sale of Air Force Uniforms Software Licenses 39,971 641 (15,382) 25,230 Stable Isotope Research Facility 90,744 33,810 110,000 194,432 40,122 Surplus Warehouse 40,737 16,779 57,516 Telephone Service 239,137 (257,660) (18,523) Telephone Service Reserves 819,299 257,660 1,076,959 Testing Services 22,498 291,770 5,292 251,490 68,070 UAMeal 26,090 17,117 8,973 Use Tax Control 66,297 95,603 (29,306) Water Research Laboratory 23,452 28,072 38,980 12,544 $ 2,757,866 $ 1,567,834 $ (643,903) $ 445,489 $ 3,236,308

15 Schedule 4 University of Arkansas Schedule of Changes in Auxiliary Enterprises For the Year Ended June 30, 2017 Additions Deductions Net Transfers Balance Revenues and Debt Balance July 1, 2016 Other Additions Expenditures Service Interfund Intrafund June 30, 2017 Intercollegiate Athletics $ 4,969,793 $ 109,506,512 $ 80,691,950 $ 11,370,046 $ (16,132,895) $ $ 6,281,414 Bookstore (59,565) 15,130,837 14,677,520 1,028,749 572,706 (62,291) Residence Life 16,082,469 65,717,121 38,601,605 13,835,406 (12,342,286) (1,679,864) 15,340,429 Fraternity and Sorority Housing (2,378,766) (18,077) 2,333 159,051 187,640 (2,370,587) Arkansas Union 49,468 10,854 624,989 9,533 584,605 29,471 Student Health 2,484,239 9,757,962 8,474,192 145,036 (2,840,622) 2,331 784,682 Transit and Parking Services 8,074,354 11,339,282 4,335,473 4,292,730 (4,349,816) 6,435,617 Student Activities 306,093 2,358,906 1,877,764 (13,358) (494,426) 279,451 Other Auxiliary Enterprises 255,884 519,554 1,941,285 356,892 633,672 1,399,714 510,647 $ 29,783,969 $ 214,322,951 $ 151,227,111 $ 31,187,910 $ (34,463,066) $ $ 27,228,833

16 Schedule 5 University of Arkansas Schedule of Cash, Cash Equivalents, and Investments As of June 30, 2017 Plant Funds Current Funds Endowment Renewals and Debt Agency Total Unrestricted Restricted Loan Funds Funds Unexpended Replacements Retirement Funds Cash and Cash Equivalents Cash and Cash Equivalents $ 138,195,037 $ 112,993,053 $ 24,195,962 $ $ $ $ $ $ 1,006,022 State Treasury Cash 1,723,335 1,485,691 237,644 Total Cash $ 139,918,372 $ 114,478,744 $ 24,195,962 $ $ $ 237,644 $ $ $ 1,006,022

Investments Mutual Treasury MM Funds $ 1,036,096 $ 1,030,414 $ $ $ 5,682 $ $ $ $ U.S Treasuries 69,006,435 69,006,435 Federal Agencies 23,300,129 23,300,129 Commercial Paper 51,779,120 51,779,120 Mutual Bond Fund 148,839 148,839 Corporate Notes/Bonds 25,760,954 25,735,981 24,973 Non-negotiable CD 58,987 58,987 Negotiable CD 19,454,908 19,454,908 External Investment Pool 157,704,771 79,832,705 77,872,066 Other Investment 554,403 3,001 551,402 Total Investments $ 348,804,642 $ 270,142,693 $ $ $ 78,661,949 $ $ $ $

Total Cash and Investments $ 488,723,014 $ 384,621,437 $ 24,195,962 $ $ 78,661,949 $ 237,644 $ $ $ 1,006,022

17 Schedule 6 University of Arkansas Schedule of Changes in Loan Funds For the Year Ended June 30, 2017

ADDITIONS DEDUCTIONS COMPOSITION OF BALANCE Gifts Interest and Transfers Balance Appropriations, Investment and Other Notes Balance Cash and Other Net July 1, 2016 and Other Income Income Changes Charged Off Other June 30, 2017 Investments Assets U.S. Government Participation in Loan Funds: Perkins Loan $ 16,333,849 $ 163,753 $ 238,116 $ $ 164,274 $ 160,555 $ 16,410,889 $ 742,535 $ 15,668,354 Nursing Student Loan Funds 3,360 17 3,377 3,377 $ 16,337,209 $ 163,753 $ 238,133 $ $ 164,274 $ 160,555 $ 16,414,266 $ 745,912 $ 15,668,354

Institutional Loan Funds: Matching Fund for U.S. Gov't. Participation Loan$ Funds55,697 $ $ $ $ $ $ 55,697 $ 55,697 $ Ben J. Altheimer Fund 25,237 25,237 25,237 American Federation of Women's Clubs 3,255 3,255 3,255 Ray Anderson Loan Fund 1,576 1,576 1,576 Donald P. Callaway Loan Fund 5,000 5,000 5,000 Carter Loan Fund 412 412 412 Christian Science Foundation 556 556 556 Civic Club 512 512 512 Corps of Engineers Fund 2,284 2,284 2,284 Elmer C. & Emma Z. Davidson Fund 53,734 18 53,752 53,752 Robert Dean Journalism Loan Fund 39,815 1,467 41,282 41,282 Early Loan Fund 247 247 247 Emergency Loan Fund (6) 175 (181) (6) (175) Frost Loan Fund 1,275 1,275 1,275 Jack Galloway Memorial Loan Fund 870 870 870 W.J. and Jenny York Hamilton 10,146 10,146 10,146 Neil F. Harmon Memorial 3,742 3,742 3,742 Roscoe C. Hobbs Loan Fund 4,242 4,242 4,242 Judge Seaborn & Lucille Miles Holt Memorial Loan Fund10,865 10,865 10,865 IFC - Panhellenic Loan Fund 3,482 3,482 3,482 LEAA Loan Fund (294) (294) (294) Bruce Mitchell Memorial Loan Fund 64,414 2,192 73 (104) 66,783 66,574 209 Polk Nunneley Family Loan Fund 463 463 463 Donald W. Reynolds Loan Fund 78 78 78 Semi-Centennial Loan Fund 8,368 8,368 8,368 Erwin H. Shinn Student Loan Fund 8,761 8,761 8,761 State Student Loan Fund 127,714 127,714 127,714 Henry Thana Loan Fund 4,899 4,899 4,899 Samuel, Bertha J. & Alvin S. Tilles Loan Fund 102,012 7 (101) 102,120 102,120 Marie M. Waits Fund 536 536 536 E.A. Walker Memorial Loan Fund 28,544 28,544 28,544 Alexander Dixon & Martha R. Whitehead Loan Fund 71,554 2,267 73,821 73,821 Col. O.S. Wood Scholarship 8,918 8,918 8,918 Loan Funds Undistributed 11,401 11,401 11,401 United Student Aid Deposit Receivable 5,000 5,000 5,000 Jesse W. Cannon Foundation 500 500 500 Nurse Faculty Loan Program 29,945 61,256 80 6,807 98,088 35,180 62,908 $ 695,754 $ 67,182 $ 178 $ 6,807 $ (30) $ $ 769,951 $ 707,009 $ 62,942

Cash $ (1,712,512) $ $ $ (20,858) $ $ (280,321) $ (1,453,049) $ (1,452,921) $ (128) Pooled Investments 1,617,778 176,539 1,441,239 1,441,239 Interest Receivable 882,211 5,773 86,403 90 974,297 974,297 Accounts Receivable 90,935 83,609 7,142 7,142 Accounts Payable (642) (642) Doubtful accounts (819,616) 20,725 (840,157) (840,157) Total (to Exhibit B) $ 17,091,117 $ 236,708 $ 324,714 $ (14,051) $ 164,244 $ 160,555 $ 17,313,689 $ $ 17,313,689 18 Schedule 7 University of Arkansas Schedule of Changes in Endowments and Similar Funds For the Year Ended June 30, 2017 Expenditures Balance Distributions to and Fund Balance July 1, 2016 Gifts Revenues Current Funds Transfers June 30, 2017

True Endowments Governor Homer M. Adkins Fund $ 30,913 $ $ 4,372 $ (1,328) $ $ 33,957 Lila M. Adkisson Memorial Fund 49,888 7,056 (2,142) 54,802 Henry Alexander Memorial Fund 9,879 1,396 (428) 10,847 Alfred Allen Scholarship Fund 97,077 13,730 (4,168) 106,639 Roy B. Allen Scholarship 30,487 300 4,327 (1,313) 33,801 Ben J. Altheimer Chair - Cotton 1,099,229 155,463 (47,208) 1,207,484 Ben J. Altheimer Chair - Soybean 1,677,590 237,260 (72,046) 1,842,804 Louis Alton Endowed Athletic Scholarship 69,453 9,823 (2,983) 76,293 Alumni Endowed Chair 490,612 69,388 (21,070) 538,930 Ark. Territorial Sesquicentennial 130,768 18,494 (5,616) 143,646 W. J. Arnold Memorial Fund 15,067 2,131 (647) 16,551 Etna McGaugh Atkinson Fund 1,860,181 263,084 (79,887) 2,043,378 Baerg Award 6,625 937 (285) 7,277 Charles & Anieta Baker Scholarship 22,984 3,251 (987) 25,248 Virgil Baker Scholarship Fund 41,787 200 5,930 (1,806) 46,111 Marvin & Reva Bass Scholarship-Men's Athletic 152,375 22,197 174,572 Marvin & Reva Bass Scholarship-Women's Athletic 152,375 22,197 174,572 Aubrey Jane Batson Memorial 55,177 7,804 (2,370) 60,611 Baucum-Fulkerson Memorial Fund 5,641 798 (242) 6,197 Ray L. Belknap Class Of 1919 Fund 415,255 58,729 (17,834) 456,150 James H and Betty J Bennett Endowed Scholarship Total 87,475 4,466 91,941 Dr Rudyard & Marguerite Bent Endowment 37,539 5,308 (1,612) 41,235 Roy C. Biggadike Memorial Fund 41,336 5,847 (1,775) 45,408 Lanie Black Scholarship Fund 69,603 9,843 (2,989) 76,457 Samuel T & Mary I Blair Fund 10,001 10,001 Samuel T & Mary I Blair Fund 52,074 7,301 (2,232) 57,143 A.W. Blake Memorial Fund 18,864 100 2,672 (810) 20,826 Vol Boatwright Trust 56,161 7,943 (2,412) 61,692 Vol Boatwright Trust - Law 56,161 7,943 (2,412) 61,692 Boles-Vaulx Scholarship Fund 241,988 34,225 (10,393) 265,820 Katherine Bolenbacher Memorial Fund 71,383 10,096 (3,066) 78,413 Hazel Hinds Briggs Fund 7,349 1,040 (316) 8,073 William Jennings Bryan Fund 7,483 1,059 (321) 8,221 Mamie Bull Memorial 57,812 8,176 (2,482) 63,506 Barbara Wertheim Campbell Fund 42,249 5,975 (1,814) 46,410 T.C. & Rosemary Carlson Memorial 20,129 20 2,848 (865) 22,132 Mr. & Mrs. Cy Carney Scholarship 373,245 52,788 (16,029) 410,004 Governor Francis A. Cherry Fund 29,458 4,166 (1,265) 32,359

19 E.E. Walker & G.L. Cleveland 206,405 29,192 (8,864) 226,733 Verda Barnett Coker Mem Fund - UT 35,471 5,167 40,638 Virginia Cole Education Fund 134,532 19,027 (5,778) 147,781 John Davenport Memorial Scholarshi 26,782 1,350 3,922 (1,180) 30,874 Hester A. Davis Endowment for ARAS 390,591 56,684 (4,349) 442,926 Jim Davis Memorial Fund 5,905 834 (253) 6,486 Robert Dean Trust Fund 34,152 4,830 (1,466) 37,516 Fred L. Delzell Memorial Fund 39,428 5,575 (1,699) 43,304 J.W. Dickey Sr. Scholarship 53,382 7,550 (2,293) 58,639 William E. Dickson Memorial Fund 36,217 5,122 (1,555) 39,784 Droke-Dunn Scholarship 12,549 1,775 (539) 13,785 Hal C. Douglas Endowed Scholarship 129,379 18,296 (5,566) 142,109 Dulan Distinguished Chair Finance 417,826 100 59,104 (17,945) 459,085 Lynn Waite Dunlap Fund 6,980 987 (300) 7,667 David Durst Art Award 9,679 1,369 (416) 10,632 Earl J & Lillian P Dyess Endw Chair 1,506,116 218,576 (16,770) 1,707,922 Charles H. Earl Scholarship Fund 17,698 2,503 (760) 19,441 Orpha Eden Memorial Fund 16,519 2,406 18,925 Blanche Hanks Elliot Fund 68,433 9,679 (2,939) 75,173 Lester Elliot Fund 44,685 6,319 (1,919) 49,085 Elms Farming - R.S. Barnett 1,158,775 163,885 (49,765) 1,272,895 Nora Hill English Memorial Trust 299,696 42,385 (12,871) 329,210 Nina J. Erickson Memorial Art Schl 71,029 10,046 (3,051) 78,024 Nina J. Erickson Memorial Music Schl 71,029 10,046 (3,051) 78,024 L W & E L Estelle Schl Trust Agri 29,677 4,196 (1,274) 32,599 L W & E L Estelle Schl Trust A&S 29,677 4,196 (1,274) 32,599 L W & E L Estelle Schl Trust BA 29,680 4,198 (1,275) 32,603 L W & E L Estelle Schl Trust Educ 29,677 4,196 (1,274) 32,599 L W & E L Estelle Schl Trust Engr 29,677 4,196 (1,274) 32,599 Dr/Mrs James Burns Ewart Mem Fund 417,234 9,311 60,328 (18,304) 468,569 Dr & Mrs James B Ewart Fund 210,198 15,341 (4,248) 221,291 Farison Athletic Scholarship 38,674 5,634 44,308 James J. Hudson Fellowship 54,885 7,763 (2,357) 60,291 Jim G. Ferguson Fund 286,722 40,551 (12,314) 314,959 Virgil & Inez Fielder Fund 30,379 4,297 (1,305) 33,371 Mario William Fields Jr Endowed Award 24,492 3,464 (1,052) 26,904 Henry Finkbeiner Memorial - UT 278,244 36,954 (11,897) 303,301 Henry Finkbeiner Memorial Athletic 395,885 (1,614) 394,271 Lester Fisher Endowed Scholarship 22,911 3,240 (984) 25,167 First Arkansas Bankstock Corp 469,669 66,426 (20,171) 515,924 Joseph F Fleming Fund 239,792 17,592 (3,184) 254,200

20 University of Arkansas Schedule 7 Schedule of Changes in Endowments and Similar Funds For the Year Ended June 30, 2017 Expenditures Balance Distributions to and Fund Balance July 1, 2016 Gifts Revenues Current Funds Transfers June 30, 2017 True Endowments (cont.)

Joseph F Fleming Chancellors Fund $ 265,284 $ $ 18,495 $ $ (3,403) $ 280,376 Edsel Ford Memorial Fund 286,601 40,534 (12,308) 314,827 W Gatewood History Graduate Fellow 69,953 7,600 10,690 (3,084) 85,159 Gatchell Memorial Fund 6,755 955 (290) 7,420 Gerber Endowed Scholarship 92,160 13,035 (3,958) 101,237 Rebecca Sholley Gifford Fund 38,367 5,426 (1,648) 42,145 William Ward Goodman Fund 11,926 1,687 (512) 13,101 Eva Dickson Greene Fund 4,867 688 (209) 5,346 Harold D. Hantz Award Fund 18,315 2,591 (787) 20,119 Dr Harold Hantz Scholarship Fund 28,201 3,989 (1,211) 30,979 Harris Chair In Transportation 4,352,054 615,508 (186,903) 4,780,659 Oren Harris Chair In Logistics 951,710 134,600 (40,872) 1,045,438 T. Harrod Athletic Scholarship Fund 259,357 37,783 297,140 Adele Ramsey Heerwagen Scholarship 24,579 3,580 28,159 Irving N Hepner Memorial Scholarship 35,192 4,977 (1,512) 38,657 Daisy Y & Richard Y Holcombe Mem Schl 33,030 4,672 (1,420) 36,282 Fred W. Holt Fund 20,035 2,834 (860) 22,009 Paul V Horton Endowed Student 573,900 83,605 657,505 H.G. Hotz Scholarship Fund 113,029 15,985 (4,854) 124,160 Marie Wilson Howells Trust Fund 5,578,282 788,931 (239,566) 6,127,647 Mary D. Hudgins Scholarship 42,304 5,983 (1,817) 46,470 Mary Dengler Hudgins Music Fund 75,124 10,624 (3,226) 82,522 Mary D. Hudgins Music - Library 110,621 15,646 (4,751) 121,516 Dorman: BH,RD Hudson, MD Cook Fund 14,436 2,042 (620) 15,858 Evans R Hudson Memorial Fund 76,260 11,110 87,370 Ingalls Drama Scholarship/Wallie B & Mar 38,116 5,391 (1,637) 41,870 W B & M Ingalls Music Schl 34,529 4,883 (1,486) 37,926 AC & MB Jennings Endowed Scholarsh 96,683 13,673 (4,152) 106,204 Michael Joffe Scholarship Fund 59,076 1,000 8,459 (2,562) 65,973 Coulter Jones Fund 129,176 18,270 (5,548) 141,898 Isabel Elias & Virgil L. Jones Fund 139,322 200 19,691 (6,237) 152,976 Kanady-Schaller Horticulture Fund 23,200 3,282 (996) 25,486 Keith Kennedy Scholarship Fund 64,748 9,158 (2,781) 71,125 AGRI Land Grant Scholarships 1,966,619 278,136 (84,458) 2,160,297 W.J. Lemke Fund 78,059 1,000 11,132 (3,379) 86,812 Gus Lewis Endowment 916,086 129,562 (39,342) 1,006,306

21 Brick Lile Trust Fund 919,379 133,933 1,053,312 George D. Lingelbach Memorial 10,031 100 1,424 (431) 11,124 Berry Dean & Ova Loftis Fund 25,326 3,581 (1,087) 27,820 Main Library Endowment Fund 17,464 2,469 (750) 19,183 R. Coin Mason Fund 99,542 14,078 (4,275) 109,345 Felix C. McKean Memorial Award 32,217 4,556 (1,383) 35,390 Ed. I. McKinley Fund 32,658 4,618 (1,402) 35,874 McMahan Memorial Scholarship 25,404 3,593 (1,091) 27,906 Francis Medaris Orchestra Schl Endowment 727,354 103,972 (23,775) 807,551 Holly Turner Meeks Scholarship Fund 160,903 25 22,760 (6,911) 176,777 Memphis Journalism Endowment 28,245 3,993 (1,224) 31,014 Edward Baylor Meriwether Fund 26,275 3,716 (1,128) 28,863 Don Miller Memorial Fund 78,702 11,131 (3,384) 86,449 Dr. Jennie Lou Milton Fund 63,268 8,948 (2,717) 69,499 Bruce Mitchell Memorial Fund 51,038 7,219 (2,192) 56,065 James P. Modisette Scholarship 72,645 3,260 10,557 (3,185) 83,277 Max S. Moody Memorial Fund 85,760 12,129 (3,683) 94,206 Jimmie Lee Morgan Estate 27,630 3,907 (1,186) 30,351 Jimmie Lee Morgan Estate 27,630 3,907 (1,186) 30,351 Dorothy M Morsani Memorial Endowed Scholarship 54,161 7,659 (2,333) 59,487 Dorothy M Morsani Memorial Endowed Scholarship 51,057 7,220 (2,199) 56,078 Roscoe & Emma Mullins Memorial 83,568 11,819 (3,589) 91,798 National Endowment for Humanities HUMN 960,810 135,887 (41,263) 1,055,434 National Endowment for Humanities CARS 960,810 135,887 (41,263) 1,055,434 Frank Newell Memorial Fund 24,986 3,534 (1,073) 27,447 Osher Lifelong Learning Fund 1,192,607 167,912 (55,588) 1,304,931 Angie K. Payne Memorial Fund 18,901 2,674 (812) 20,763 Vernon Peppard Fund 231,539 32,747 (9,944) 254,342 T C Perry Endowed Scholarship Fund 17,484 2,472 (751) 19,205 Phillips Petroleum Chair 500,495 70,784 (21,494) 549,785 W.J. Pollard Memorial Fund 39,029 5,521 (1,676) 42,874 John J Pope Fund 87,680 12,773 100,453 Gene Porter Scholarship Fund 51,372 7,265 (2,206) 56,431 Jim Porter Scholarship Fund 52,347 7,404 (2,248) 57,503 James Clayton Portis Jr. Memorial 77,328 10,933 (3,356) 84,905 Henry D. Powell Fund 152,807 21,611 (6,562) 167,856 Cecil & Becky Powers Memorial 368,389 52,100 (15,820) 404,669 James Harrison Quinn Memorial 52,007 7,355 (2,235) 57,127 Razorback Educational Trust 1,698,964 1,271 240,346 (72,979) 1,867,602 Benjamin C. Reed Scholarship 251,466 36,633 288,099 Walter Richards Memorial Fund 19,406 2,745 (834) 21,317 Yvonne Richardson Endowed Scholars 15,394 2,177 (661) 16,910 Charles Richardson Physics Scholarship 26,268 3,715 (1,128) 28,855 Winthrop Rockefellor Fund 398,301 56,331 (17,105) 437,527

22 University of Arkansas Schedule 7 Schedule of Changes in Endowments and Similar Funds For the Year Ended June 30, 2017 Expenditures Balance Distributions to and Fund Balance July 1, 2016 Gifts Revenues Current Funds Transfers June 30, 2017 True Endowments (cont.)

Robert Rowden Scholarship Fund $ 32,099 $ $ 4,541 $ (1,379) $ $ 35,261 Davidson Cochran Roy Estate 39,152 5,636 (871) 43,917 Cecilia Russell Memorial Fund 52,481 7,422 (2,254) 57,649 Seamster Memorial Fund 24,053 3,402 (1,033) 26,422 James Elliot Sherman Fund 31,664 4,478 (1,360) 34,782 AFB Romeo E Short Scholarship 61,035 8,626 (2,667) 66,994 R.L. & R.E. Smith Student Loan Fund 374,896 54,614 429,510 James Victor Spencer Jr. Memorial 34,782 4,919 (1,494) 38,207 Jackson & Mary Anne Stephens Fund 3,252,140 459,947 (139,666) 3,572,421 Wayne Alan Stevens Memorial Fund 101,884 14,403 (4,420) 111,867 Delbert Swartz Memorial Fund 6,299 890 (270) 6,919 George W. Swilley Memorial Fund 54,775 7,746 (2,352) 60,169 Joseph A. Thalheimer Fund 130,718 18,487 (5,614) 143,591 Herbert Thomas Memorial Fund 39,515 5,588 (1,697) 43,406 Tudor Endowed Chancellors Schl 202,849 28,689 (8,712) 222,826 Upchurch Scholarship Fund 21,487 3,039 (925) 23,601 US Land Grant Fund - UT 260,798 36,884 (11,200) 286,482 Vescolani Scholarship 64,167 9,075 (2,756) 70,486 Emeline Vincent Scholarship Fund 77,644 10,956 (3,516) 85,084 Emeline Vincent Scholarship Fund 77,445 10,978 (3,145) 85,278 Peggy Walker Scholarship Fund 26,058 3,685 (1,119) 28,624 Wakefield Endowment Fund 70,241 9,934 (3,017) 77,158 War Eagle Folklife Scholarship 60,409 8,544 (2,594) 66,359 Waterman Memorial Fund 42,792 6,053 (1,838) 47,007 Edgar Wertheim Memorial Fund 153,493 21,708 (6,592) 168,609 Mary Elizabeth Westpheling Fund 26,539 3,754 (1,140) 29,153 Lulu & James Westphaling Endowment 32,360 4,577 (1,390) 35,547 Alexander D. & Martha Whitehead 52,451 7,418 (2,252) 57,617 Alex. D. & Martha Whitehead Loan 52,782 7,465 (2,267) 57,980 Jeanne Wylie Student Fellowship Fund 296,000 41,863 (12,712) 325,151

23 Ivan & Ellen Scott Williams Fund 40,451 5,721 (1,737) 44,435 James A. William Memorial 20,670 2,923 (888) 22,705 Romola Williams Memorial Fund 57,800 8,175 (2,482) 63,493 Anna Powell Wood Award 74,836 10,584 (3,214) 82,206 Bank of America Case Program 152,776 21,606 (6,561) 167,821 Laura J. Yeater Award 650,542 92,005 (27,938) 714,609 Maud Young Award 95,462 13,501 (4,100) 104,863 R.A. Young Jr. Endowed Chair 612,464 86,619 (26,302) 672,781 Total True Endowments $ 49,001,541 $ 113,312 $ 6,846,357 $ (1,865,806) $ (10,835) $ 54,084,569

Restricted Quasi-endowments

Acacia Scholarship - General $ 35,902 $ $ 5,077 $ (1,542) $ $ 39,437 Diane Blair Center Endowment 2,968,592 419,845 (127,488) 3,260,949 Bank of America FBLA Scholarship Fund 48,202 6,817 (2,070) 52,949 Kate Hadley & Grace Baker Fund 330,647 46,745 (14,332) 363,060 Hugh T. Henry Memorial Fund 41,240 5,817 (1,881) 45,176 Ruth M. Hill Memorial Fund 1,755,100 255,679 2,010,779 Joy P Markham Fund 1,740,976 246,225 (74,768) 1,912,433 J C Massie Memorial Fund 131,613 18,613 (5,652) 144,574 Margaret F Schamer Scholarship 502,814 71,112 (21,594) 552,332 Margaret Stearns Dean's Scholarship 199,722 28,246 (8,577) 219,391 Robert & Juanita Fairchild Fund 6,322 894 (271) 6,945 James Jones Memorial Fund 19,716 2,788 (850) 21,654 Garland Dix Hamm Memorial 25,192 3,563 (1,082) 27,673 Selma Roe Hatley Fund 245,628 35,783 281,411 John & Lois Imhoff Endowment Fund 59,566 8,425 (2,558) 65,433 Richard Koch Memorial Fund 14,884 1,320 2,175 (657) 17,722 The Levi Strauss Scholarship 42,836 6,059 (1,840) 47,055 Sigma Chi Omega Omega Schl Fund 215,050 30,375 (10,000) 235,425 Sigma Chi Replacement Fund 769,083 12,880 113,395 895,358 James C. & Wiley G. McDonald III 111,945 15,833 (4,808) 122,970 Robert Clifton Robinson Mem Scholarship 20,974 132,533 21,912 (5,233) 170,186 Hal Sutton Fund 217,063 31,621 248,684 Jack Williamson Endowed Scholarship Fund 63,736 9,013 (2,736) 70,013 Total Restricted Quasi-endowments $ 9,566,803 $ 146,733 $ 1,386,012 $ (287,939) $ - $ 10,811,609

Unrestricted Quasi-endowments

Robert E Hill Chancellor's Scholar $ 205,293 $ $ 29,034 $ (8,817) $ $ 225,510 Steven L Anderson Design Center Maint 225,292 33,404 27,755 286,451 Isely Entomology Scholarship 24,819 3,510 (1,066) 27,263 Biscoe C Hindman Fund 4,954,867 701,286 (208,957) 5,447,196 Linda K. Overstreet Scholarship Fun 57 9 66 STI Royalty Endowment 3,099,209 438,319 (133,098) 3,404,430 Union Mutual 3,773,247 533,739 (161,380) 4,145,606 Lon Farrell Memorial Fund 19,652 2,863 22,515 G T Johnson Memorial Endowed Fund 85,485 12,091 (3,671) 93,905 Joseph C. Kemp Law School 11,281 1,594 (496) 12,379 Wilfred L Smith Estate 206,408 29,193 (8,864) 226,737 Total Unrestricted Quasi-endowments $ 12,605,610 $ $ 1,785,042 $ (526,349) $ 27,755 $ 13,892,058 Total (to Exhibit B) $ 71,173,954 $ 260,045 $ 10,017,411 $ (2,680,094) $ 16,920 $ 78,788,236

24 Schedule 8 University of Arkansas Schedule of Changes in Unexpended Plant Funds For the Year Ended June 30, 2017

Additions Net Transfers Deductions Income/ Expenditures/ Balance State of Other Other Balance July1, 2016 Arkansas Additions Interfund Intrafund Deductions June 30, 2017 UNIVERSITY OF ARKANSAS - FAYETTEVILLE RESTRICTED From State of Arkansas - Appropriated Funds Nano Building Construction - GIF $ 2,094,088 $ $ $ $ $ 2,094,088 $ Old Main Portico - 2016 ANCRC Grant 556,075 556,075 Garvan Woodland Gardens - 2016 ANCRC 100,741 100,741 Faye Jones House Restoration/Upgrades 350,000 116,758 233,242

$ 2,750,904 $ 350,000 $ $ $ $ 2,867,662 $ 233,242

From Bonds Issued Champions Hall/2013 Bonds 21 (21) (a) 216,295 (94,164) 122,131 Arts & Design District - 2013 Bonds (1) 94,164 94,163 Sereis 2013 Var Fac Investment Earnings 4,314 190 (a) (23) (4,481) Series 2013 Invest/Combined Heat & Power 4,481 4,481 Arts & Design District - 2014 Bonds 619,309 619,309 Series 2014A Investment Earnings 12,772 603 (a) (10) (13,365) Series 2014A Investment Earnings/Arts & Des 13,365 13,365 Lambda Chi Renovation - 2015 Bonds 129 (129) (a) 380,492 380,492 Interest Earnings 2015 Bonds 1,860 758 (a) 2,618 High Pressure Gas Line 31,690 31,690 CVEG Research & Education Ctr - 2016 Bonds 92,184 5,333 (a) 266,276 356,362 7,431 Entrance Monument Signs 445,495 934,276 1,379,771 Kimpel Hall Renovations - 2016 Bonds 545,170 1,859,232 1,569,339 835,063 Offsite Library Storage - 2016 Bonds 485,761 2,314,472 (400,170) 722,063 1,678,000 Govt St Warehouse Fab Lab Rem 2016 Bnd 400,170 400,000 170 University Recreation - 2016 Bonds 388,618 1,480,997 1,514,297 355,318 Discovery Hall 2016 Bonds 1,981,492 (81,362) 1,981,492 (81,362) HOEC Renovation - 2016 Bonds 81,362 81,362 Arts & Design District - 2016 Bonds 264,020 1,736,320 2,000,340 Pat Walker Health Center - 2016 Bonds 270,948 2,686,047 2,956,995 SAE Renovations - 2016 Bonds 279,673 2,813,119 3,092,792 Sereis 2016 Investment Earnings 6,777 56,372 (a) 42 63,191 DWRRS NEZ Expan/Stad Upgrades/2016A TE 13,020,136 6,916,073 6,104,063 DWRRS NEZ Expan/Tax Exempt Invest 88,021 (a) 2,568 122,273 (31,684) DWRRS NEZ/Stad Upgraes 2016 Bond Tax 24,120,971 23,659,472 461,499 DWWRRS NEZ/ATHL Tax Invest 264,369 (a) (2,568) 442,981 (181,180)

$ 2,797,741 $ $ 415,496 $ 54,461,133 $ $ 48,463,861 $ 9,210,509

From Other Funds GWG Wildflower Meadow Project 12,232 60,000 39,802 32,430 GWG Tree House Project 34,251 128,500 157,837 4,914

25 Campus Gate - North Gifts 5,500 5,500 Lambda Chi Renovation & Addition 553,654 553,654 Nursing/Speech Clinic Building - Gifts 99,950 99,950 Old Main Plug and Teach Room Install 140 140 Child Development Research Center - Gift 57,100 57,100 ATHL Academic Dining Project - Gifts 735,020 87,517 647,503 ATHL Academic Dining Project - Dining 52,738 4,551 48,187 GWG Klipsch Amphiheatre Improvements 1,354 1,354 Pi Kappa Alpha House Renovation 36,364 36,364 Vol Walker Addition/Renovation 95,949 95,949 Baseball and Indoor Tract Practice 2016 9,272 (793) 8,479 Jim & Joyce Faulkner Performing Arts Ctr 2,313 (33,787) (b) (1,050,434) (1,081,908) Faulkner Performing Arts Ctr. - Gifts 29,443 1,050,434 1,079,877 Fowler House Garden 1,038,504 1,038,504 Hill Street Renovation/Arts& Design Dist 781,426 16,654 798,080 Phi Mu House 34,621 46,003 (b) 27,669 52,955 Burnett Journalism & Student Media Ctr 1,004,157 9,345 (b) 1,013,502 Faye Jones House Renovations 31,900 31,900 DOE/SEFOR Decommissioning Demolition 9,648,243 (f) 9,648,243 DWRRS NEZ Expansion/Stad Upgrade Gifts 10,000,000 (b) 10,000,000 Enterprise Hub Project - Gifts 350,000 (b) 350,000 Delta Delta Delta 287,515 (b) 40,289 247,226 VRIC Office Space - Garland Center 1,100 (b) 1,100 SAE Renovations 51,000 74 50,926 Delta Gamma House 975,683 (b) 9,748 965,935

$ 3,737,928 $ $ 21,284,102 $ 1,134,114 $ (793) $ 12,707,279 $ 13,448,072 Total Restricted $ 9,286,573 $ 350,000 $ 21,699,598 $ 55,595,247 $ (793) $ 64,038,802 $ 22,891,823

UNRESTRICTED From General Funds Land and Property Purchases 8,811 (90,680) (572) (82,441) Land & Property Purchases FY2013 Land & Property Purchases FY2016 116 (117) (1) Land & Property Purchases FY2017 1,000,000 191,550 (c) 2,263,618 3,761 3,458,929 Land & Property Purchases FY2018 1,000,000 (400,000) 600,000 Central Utilities Air Permit 22,185 9,852 12,333 Energy Management Services Study 12,223 50,500 29,411 33,312 Old Health Center Renovation (99,950) (99,950) Nano Scale Building 42,753 (42,752) 1 NANO Science & Tech. Bldg Third Floor 653,500 2,807,752 1,802,358 1,658,894 Ozark Hall Addition/Renovation 21,876 (21,875) 1 Vol Walker Hall Renovation (95,949) (95,949) Campus Gates and Drive Extension (5,267) (5,500) 233 Child Development Research Center (57,100) (57,100) ENRC Small Animal Facility 122,773 45,140 77,633 ENRC Fire Protection (1) (1) ENRC Building Security Upgrades 41,606 75,000 72,768 43,838 Classroom and Teaching Lab Building 159,143 50,000 94,164 100,828 202,479 Jim && Joyce Faulkner Performing Arts Ctr 215,825 210,032 5,793 Leroy Pond Utility Plant 17,824 19 17,805 One East Center Plaza Renovations 52,376 52,376

26 Schedule 8 University of Arkansas Schedule of Changes in Unexpended Plant Funds For the Year Ended June 30, 2017

Additions Net Transfers Deductions Income/ Expenditures/ Balance State of Other Other Balance July1, 2016 Arkansas Additions Interfund Intrafund Deductions June 30, 2017 Combined Heat & Power Plant $ 714,676 $ $ $ $ $ 112,165 $ 602,511 Senior Walk Construction 2016-2018 366,727 250,000 (920,430) (303,703) Senior Walk Class of 2015 311,559 311,559 Senior Walk Class of 2016 26,000 608,872 156,395 478,477 ADA Compliance Phase 2 45,137 (45,138) (1) ADA Compliance Phase 3 2,973 (2,973) ADA Compliance Phase 4 11,051 (11,051) Arts & Design District 940,005 (219,164) 571,757 149,084 AFLS Basement Renovation 32,036 (23,179) 8,857 ENGR Design & Renovation 68,632 (67,000) 1,632 Basketball Practice Utility Operations 29,755 3,846 25,909 Fiber Relocate - Razorback Road 1,232 (1,232) Fiber Relocate - Razorback Road Phase II 10,732 (10,732) Razorback Road Landscaping Phase 1 60,893 (50,716) 10,176 1 Razorback Road Widening Phase 2 & 3 387,680 147,006 240,674 CVEG Research and Education Center 550,617 2,080 548,537 SA Success Center Utility Infrastructure 7,873 (7,873) MLK Parking 98,812 14,872 83,940 Fowler House Garden/Conservatory 400,000 151,236 248,764 Parking West of Razorback Road 447,588 447,588 Kimpel Hall Renovation 100,000 100,000 200,000 Off Site Library Storage Facility 125,000 125,000 Global Campus Renovation 2,732,123 1,540,084 160,114 4,112,093 NCREPT Addition 1,479,402 1,561,000 119,867 2,920,535 Arts & Design District Labs 300,000 150,000 45,500 404,500 ARTP/AHTD Trail Links 93,500 93,500 KIMP Mechanical Systems Upgrade 1,500,000 1,500,000 Campus Signage & Way Finding 7,396 681 6,715 Campus Signage & Way Finding Phase 2 75,555 12,464 32,056 55,963 Campus Signage & Way Finding Phase 3 292,000 16,747 275,253 Vehicle Insurance Proceeds/Refer to MMV 190 190 Roads/Parking/Other Projects Reserves 5,994,258 2,308,906 (2,783,500) 5,519,664 Debt Retirement Reserve $ 16,487,173 $ $ 191,550 $ 11,130,861 $ (114,751) $ 7,397,195 $ 20,297,638

From Auxiliary Services Pomfret Hall Renovations 938,615 914,544 24,071 Athletic Academic and Dinding Facility 38,450 38,450 Basketball Practice Facility 856,330 466,155 390,175 Parking West of Razorback Road 1,939,533 102,933 2,002,863 39,603 DWRRS North End Zone Project 3,000,724 5,000,000 (621,768) 3,325,191 4,053,765 DWRRS North End Zone Design 621,768 621,768 Parking Infrastructure 2,633,557 61,099 (26,172) 2,720,828 Parking Lot Cleveland/Hall 61,099 (61,099) Parking Lot 75 Expansion 49,765 (49,765) Parking Lot 36B 10,213 (10,212) 1 MLK Parking 39,524 1,979 37,545 Futrall Exterior Façade 2 2 Yocum Summer 2015 Renovation 35,434 2,610 32,824 Yocum Summer 2016 Renovation 951,706 709,970 241,736 Pi Kappa Alpha - Housing 4,192 (40,556) (36,364)

27 Athletic Facilitity Lighting Upgrades 40,053 (33,717) 6,336 Bud Walton Arena Ribbon Board 950,000 30,382 980,382 Parking Expansion at Baseball 14,362 14,362 Pat Walker Health Center Addition 1,412,555 2,780,752 962,119 3,231,188 Lambda Chi Renovation/Addition 39,571 (39,571) Kimpel Hall Renovation (Student Media) 50,000 50,000 100,000 Stadium Camera & Network Equip Replace 33,041 50,000 809,112 892,153 Barnhill Arena Video Board 395,000 92,227 487,227 Computer Desktop Replacements 131 (131) Build Out Office Space BWAR 36,534 650,000 676,071 10,463 Pomfret Summner 17 Renovations 2,036,275 1,349,170 687,105 Outdoor Track Locker Room Study 25,000 17,213 7,787 Stadium Drive Residence Halls 2,000,000 1,444,977 555,023 Athletic Dept Plant Fund Reserves 4,514,450 7,170 (a) 3,982,245 (1,675,146) 495,713 6,333,006

$ 18,044,841 $ $ 7,170 $ 15,759,037 $ 791 $ 15,293,908 $ 18,517,931 Total Unrestricted $ 34,532,014 $ $ 198,720 $ 26,889,898 $ (113,960) $ 22,691,103 $ 38,815,569 Plant Fund Reserves $ 122,942 $ $ $ (227,498) $ 114,753 $ $ 10,197 Total $ 43,941,529 $ 350,000 $ 21,898,318 $ 82,257,647 $ $ 86,729,905 $ 61,717,589

UNIVERSITY OF ARKANSAS - AGRI EXPERIMENT STATION RESTRICTED From State of Arkansas - Appropriated Funds

$ $ $ $ $ $ $

From Other Funds AgriScience Building - Gifts 4,570,532 3,344,909 1,225,623 POSC Poultry Research Farm Improvements 200,000 200,000 POSC Pilot Processing Plant 300,000 75,000 (b) 375,000 POSC Anitbiotic-Free Research Facility 200,000 200,000 POSC House A259 134,000 33,000 (b) 167,000 POSC Disease Research Facility 150,000 150,000 POSC Broiler Farm House A234 75,000 75,000 POSC Broiler Farm House A236 75,000 75,000 POSC House A246 100,000 100,000 POSC Student Education Center 200,000 200,000 RIRE Seed Plant Facility 520,000 (b) 520,000

6,004,532 628,000 3,864,909 2,767,623 Total Restricted $ 6,004,532 $ $ 628,000 $ $ $ 3,864,909 $ 2,767,623

UNRESTRICTED From Agricultural Experiment Station Major Improvements $ 514,424 $ $ $ (183,827) $ 351,132 $ $ 681,729 PCEX/Center Furnishing & Equipment 1,077,617 1,077,617 AFLS Auditorium Renovation 28,988 28,988 Seed Plant Design - RIRE 948,313 566,389 (530,000.00) 963,395.00 21,307 CTST Tract/Land Grading 4,380 4,380 Soil Testing Lab/Office 362,830 310,863 13,100 561,939 124,854 RIRE Spray Coupe 10,476 (10,476) DREX North Farm Entrance/Fence 3,752 (3,750) 2 Food Science Bldg Partial Re-roofing ST&R ICAP Machines 69,097 70,000 139,097 Drex Agrisciences Building 8,640,355 235,000 7,916,488 958,867

28 Schedule 8 University of Arkansas Schedule of Changes in Unexpended Plant Funds For the Year Ended June 30, 2017

Additions Net Transfers Deductions Income/ Expenditures/ Balance State of Other Other Balance July 1, 2016 Arkansas Additions Interfund Intrafund Deductions June 30, 2017 DREX Chemical Storage Facility $ 6,021 $ $ $ $ (5,846) $ 175 $ NERE Tractor & Ditcher 46 (46) CTST Tractor 7,400 (89) 7,311 RIRE Combine 68,000 (7,500) 60,500 PTST Bedder Roller 6,325 (6,325) FRSS Sprayer 18,290 18,290 SEST Tractor 103,000 103,000 AREC Grain Auger 6,150 (270) 5,880 LFST Hay Barns 139,097 41,462 180,559 DREX U-Drive Upgrade 979 (740) 239 FRSS Prod Tech and Irrigation 25,000 (d) 24,972 28 NERE Harrow & Cultivator 67,700 (2,500) 65,200 CTST Tractor 55,000 34,250 20,750 RIRE Tractor 100,000 100,000 PTST Tractor 100,000 (20,000) 80,000 VGSS Dump Trailer 8,400 (1,673) 6,727 LFST Baler & Wrapper 73,000 73,000 FRSS Kubota RTV 17,850 (2,808) 15,042 SEST Replace & Repair Undercarriage/Engi 31,100 (1,809) 29,291 SWRE Silage/Hay Baler 40,000 (5,400) 34,600 SERE Utility Tractor 30,000 30,000 AREC Dump Trailer 12,100 12,100 RIRE - Sha Planter and Tractor 155,000 91,222 63,778 VGSS - Irrigation Wall 41,103 41,103 RIRE - Greenhouse & Growth Chamber 1,886,000 (e) (886,000) 24,971 975,029 RIRE - Growth Chamber 886,000 886,000 Experiment Station Contingency 3,600,000 3,600,000 $ 15,615,540 $ $ 1,911,000 $ 1,536,140 $ $ 10,438,156 $ 8,624,524 Total $ 21,620,072 $ $ 2,539,000 $ 1,536,140 $ $ 14,303,065 $ 11,392,147

UNIVERSITY OF ARKANSAS - ARKANSAS ARCHEOLOGICAL SURVEY UNRESTRICTED From General Funds ARAS Fire Alarm Upgrades 30,000 29,022 978 ARAS Chiller Replacement $ $ $ $ 100,000 $ $ $ 100,000 $ $ $ $ 130,000 $ $ 29,022 $ 100,978 Total $ $ $ $ 130,000 $ $ 29,022 $ 100,978

29 UNIVERSITY OF ARKANSAS - CRIMINAL JUSTICE INSTITUTE UNRESTRICTED From General Funds Building Renovations 747,869 747,869 CJI Plant Fund Reserves $ 2,223,371 $ $ 558 (a) $ (68,755) $ $ $ 2,155,174 $ 2,971,240 $ $ 558 $ (68,755) $ $ $ 2,903,043 Total $ 2,971,240 $ $ 558 $ (68,755) $ $ $ 2,903,043

UNIVERSITY OF ARKANSAS - CLINTON SCHOOL OF PUBLIC SERVICE UNRESTRICTED From General Funds Clinton School Building $ 186,205 $ $ $ $ $ $ 186,205 CSPS Reserve 616,660 90,267 526,393 $ 802,865 $ $ $ $ $ 90,267 $ 712,598 Total $ #REF! $ #REF! $ #REF! $ #REF! $ #REF! $ #REF! $ #REF!

UNIVERSITY OF ARKANSAS - AREON RESTRICTED From Other Funds ARRA AREAON Backbone Expansion $ 10,372 $ $ $ $ $ 10,372 $ $ 10,372 $ $ $ $ $ 10,372 $

UNRESTRICTED From General Funds AREON Arkansas Children's Hospital $ $ $ $ $ 101,677 $ $ 101,677 ARON Reserve 1,048,473 650,000 (101,677) 1,596,796 $ 1,048,473 $ $ $ 650,000 $ $ $ 1,698,473 Total $ 1,058,845 $ $ $ 650,000 $ $ 10,372 $ 1,698,473

Totals (to Exhibit B) $ #REF! $ #REF! $ #REF! $ #REF! $ #REF! $ #REF! $ #REF!

(a) Net Investment Income 423,224 (b) Capital Gifts 12,263,859 (c) Other Receipts 191,550 (d) State Funds 25,000 (e) Rice Foundation 1,886,000 (f) Federal Funds (DOE) 9,648,243

Total 24,437,876

30 Schedule 9 University of Arkansas Schedule of Changes in Renewals and Replacements For the Year Ended June 30, 2017

Additions Net Transfers Deductions Balance Balance July 1, 2016 Income Interfund Intrafund Expenditures June 30, 2017 UNIVERSITY OF ARKANSAS - FAYETTEVILLE Restricted Other Funds ADMN Conference Room Renovation $ 1,197 $ $ $ $ $ 1,197 Redesign MOHELA Resource Room 403 403 Inn at Carnall Major Repair & Replacement 20,037 30,228 (a) 50,265 HES Maudine Saunders Commons 5,069 5,069 NWA Mall Razorback Shop Renovations 8,040 (8,040) WATR AV Upgrades 204 37,447 37,651 AFLS Terrace/Patio Renovations 25,622 25,622 Hockey Locker Room -010815 Rubber Option (1) (1) UNHS 1st Floor Repaint 9,493 1,461 10,954 SAE Renovation Projects 51,000 (51,000) UNHS Replace Carpet 2nd & 3rd Floor 844 669 175 WATR 107 Install Security Camer & Panic 7,272 358 6,914 HAPG Renovate Retail Space for WCOB Lab 7,943 7,943 PRES Carpet and Paint 9,472 133,380 119,161 23,691 Vol Walker AV Improvements 19,241 16,841 2,400 Phi Delta Theta Summer 2016 26,389 (1,566) 24,823 EAWH Renovation (AirGas) 87,049 (b) 86,431 618 GWG Roof Repairs 45,000 45,000 Old Main Interior Renovation - Labs 266,665 227,727 38,938 Community Design Center - Gifts 65,000 65,000 ALUM Exterior Improvements 48,420 43,400 5,020 ALUM Lot 76 Tailgate/Parking 450,000 450,000 Garden Pavilion Structural Repairs 17,722 17,722 FNAR AV Upgrades 15,348 15,348 BELL 2258 Remodel Room to Office Space 30,051 19,951 10,100

Total Restricted $ 237,225 $ 117,277 $ 1,004,888 $ $ 686,438 $ 672,952

Unrestricted From General Funds Primary Dist. Alteration/Improvements - 2015 $ 16,234 $ $ $ (1,061) $ 9,616 $ 5,557 Primary Dist. Alteration/Improvements - 2016 20,368 (19,479) 889 Primary Dist. Alteration/Improvements - 2017 65,000 20,540 18,751 66,789 Utility Distribution General Improvement -2015 50,085 50,085 Utility Distribution General Improvement -2016 115,949 (113,529) 2,420 Utility Distribution General Improvement -2017 25,000 113,529 76,108 62,421 HVAC System General Improvements - 2015 6,082 (6,082) HVAC System General Improvements - 2016 145,598 139,088 6,510 HVAC System General Improvements - 2017 152,300 6,082 156,962 1,420 Campus Dist Energy System Eff. & Cap. Imp. 144,571 54,389 90,182 BWAR Cooling Tower Replacement 56,146 17,500 64,554 9,092

31 Wickramasinghe ERC-II Lab 140, 142, 143 23 (24) (1) ALUM - License Agreement (459 Razorback) (300,170) (856) (a) 34,922 (266,104) Old Main East/Steps Portico 173,826 29,544 144,282 Campus Install Trash & Recycle Bins 1,493 833 660 Mullins Branch Stream Restoration 3,544 3,544 Greek Theatre Renovation 48,089 45,505 2,584 Subdivision of Racquetball Courts 61,552 (5,163) 56,389 Stadium Drive Connection 983,046 2,046,031 4,971 2,062,874 971,174 ESPL - Bouche Bistro Modifications 69 (69) MULN Install New Paver Sidewalk 1 1 East Square Plaza Minor Maintenance 3,372 3,372 KIMP 117 & 117K Renovations 1 1 AFLS PRV Station Replacement 71,848 (60,543) 11,305 FNAR Roof Replacement 530,000 3,550 526,450 GRAD Elevator Replacement - Insurance 1 1 KIMP 204 AND 204B RRENOVATION 44,162 (44,162) ARKU Electrical Replacement 136,763 (136,763) ADSB HVAC System Replacement 790,036 (63,134) 726,902 ESPL One East Center Cooling Plant Renov 51,811 (26,134) 25,677 ADMN Fan Coil Replacement 3rd Floor 8,986 (8,986) WATR Fan Coil Replacement 37,628 200,000 199,656 37,972 BELL Lab Side FCU & Ctrls Modernization 31,511 (31,511) FNAR/SCIE Pwr Wash for Signage & Lights 44 44 WALK Gallery Lighting Remediation 307,472 171,000 394,131 84,341 Community Design Center (65,000) (65,000) ENRC Install Water Source Heat Pump 2,873 (2,873) UA Theatre Upgrades 1 1 UA Theatre Portable Lighting 24,182 17,291 6,891 Wesley Foundation Building Demo 476 476 Carnall Hall Reroof 19,072 (15,447) 3,625 Storm Water Recovery System 2,275 (2,275) One East Center Envelope Repairs 19,836 250,000 148,180 121,656 CHEM 108 Lab Remodel 2 (3) (1) Global Campus Water Source Heat Pump 152,396 (9,000) 143,396 Garland Ave. Water Line Replacement 1,434 (1,200) 234 Garland Ave. Water Line Replacement Phase 2 32,933 (204) 1,200 33,929 NANO Dehumidification Unit Project 107,952 107,952 Summer 2015 Demo Clinton/Virginia 43,258 (4,971) 38,287 ARKU W Reroof and Roof Garden 41,798 (23,535) 18,263 ADSB PDU Addition 7,757 (7,757) FNAR Concert Hall HHW Service 75,000 75,000 Lot 56 Fence Extension 17,036 (2,235) 14,801 Security Cameras - Libraries 36,049 14,764 (17,196) 33,617 Nettleship Gas Yard 14,544 3,606 10,938 UNHS Wireless Access Point 3,454 (3,454) ARKU Exterior Stairwells Repairs 19,850 (19,745) 105 Faye Jones House 49,594 20,000 1,859 67,735 Alumni Houe Exterior 68,884 14,287 54,597 Public Sidewalk Relocation at LXA 75,000 75,000 Government Street Exterior Clean up 50,000 12,410 37,590 Clinton House ADA Access 14,972 (14,610) 362 Oliver St. House Demos/Parking 32,922 551,438 522,351 62,009

32 Schedule 9 University of Arkansas Schedule of Changes in Renewals and Replacements For the Year Ended June 30, 2017

Additions Net Transfers Deductions Balance Balance July 1, 2016 Income Interfund Intrafund Expenditures June 30, 2017 Ceramic Studio Canopy $ 2,816 $ $ $ $ $ 2,816 PR090971-ADSB 163 Renovate Conference 5,353 (5,353) WCOB 335 Construction Remodel 114,623 73,168 41,455 MEEG 109/ENRC 2906-4201 Lab Renovatio 89,364 (3,498) 85,866 NANO Fume Hood Install Room 241 7,717 7,368 15,085 CHW Loop Hydraulic Model 158,313 158,313 CHBC Nitrogen Line 3,092 (3,092) FAMA Conference Room Renovation 24,243 (1,406) 22,837 Power Station 15 Switch Replacement 157,383 149,165 8,218 HPER 320 Install Cabinets and Outlets 9,787 (9,787) Demolition 645 MLK & 643 Hill St. 4,022 1,722 2,300 ADSB 154 Renovations 5,647 (4,479) 1,168 MULN Rm 302B Renovation 3,660 (3,660) MEMH 3rd Floor Renovation (AERO) 75,729 (46,671) 29,058 STOS Add Wireless Drops Various RMS 26,313 (26,313) Nano Lab 154 Move E-Beam 174,708 (31,821) 142,887 MULN Build Four(4)-Four Place Recycle 1,286 (1,147) 139 WAAX Conference Room 11 Renovation 2,609 (2,608) 1 Campus Academic Wireless Network 149,582 840,000 26,313 20,334 995,561 POSC Lab Wing Controls Remediation 9,878 (9,878) Meadow Street Lighting 4,747 (4,747) BUD - FAMA Camera Upgrades 7,770 2,114 9,884 SCEN 501,604,610,613 AV Upgrades 7,630 (7,630) ARKU AHU Replacement 280,584 (135,303) 109,459 35,822 ARKU AHU 9 & 4 Replacement 760,455 449,756 310,699 FERR Fire Alarm System Upgrades 23,676 (6,001) 17,675 Testing Services Exterior Stairs Repa 4,657 95,951 95,896 4,712 ADSB UITS Space Remodel 36 177,570 80,631 96,975 Lab Renovation-Haitao Liao 60,720 (661) 60,059 Vol Walker Doors Addition 13,173 (2,881) 10,292 ARKU Repair Northeast Sidewalks 20,048 4,408 24,456 FNAR Building Remodel 62,234 831,679 801,940 91,973 PRINT/PRESS Exterior Renovations 870,105 722,269 147,836 Enterprise Energy Management Software 400,000 400,000 Printing Services HVAC Improvements 28,630 (8,241) 20,389 FNAR Gallery HVAC Improvements 30,000 5,999 24,001 HEAT Alley Pedestrian Imporvements 316,485 (9,414) 307,071 GRAD ED Main AHU Replacement 200,000 1,000,000 170 1,199,830 Central Utility Plant Data Integratio 43,085 (22,804) 20,281 Stadium Drive Steam Main Replacement 46,999 2,000,000 75,235 1,971,764 Stadium Tunnel CHW Piping Replacement 50,000 50,000 FAMA Install Pitched Roof W.of Main C 18,700 (13,043) 5,657 Land Information Mapping Project 8,316 2,500 10,816 HEAT AHU Addition and Service Deck 40,000 100,000 8,156 131,844

33 Garvan Gardens Roof Replacements 753,590 733,573 20,017 TSTA Install Reception Window 111/120 9,770 (5,292) 4,478 Chiller Plant RTU #2 Replacement 54,542 (25,271) 29,271 ESPL Suite 250 Remove Walls 2,114 (245) 1,869 Steam Shutdown Summer 2016 9,683 98,065 107,748 WCOB 247 Carpet And Paint 12,782 (7,815) 4,967 PRINT/PRESS Interior Space Planning 41 (41) HUNT 143 Various Renovations 23,217 (11,284) 11,933 STOS Sewer Repairs 7,523 (6,157) 1,366 Clinton Dr&Virginia St Prop Demolitio 108,273 (14,909) 92,364 1,000 HOEC 21 Remodel 36,503 23,757 12,746 MAIN Interior Signage Package 55,000 13,118 67,868 250 BELL Classroom 1108E&1108G Tables/Cha 14,000 990 14,990 MULN Repair Concrete Patio Area 41,757 493 42,250 GLBL Demo/Install New Sidewalk East E 52,544 16,595 69,139 POSC Lab Controls Replacement-Phase 1 140,000 108,856 248,856 ADSB UITS Executive Suite Renovation 47,469 7,460 40,009 MULN Add Storm Drain to North Side 23,154 (6,947) 16,207 WCOB 435 Renovate Classroom 68,147 (19,603) 48,544 WCOB R & R HighRise Water Pum 53,978 (6,759) 47,219 ARKU Security System Installation(CCT 34,200 1,990 23,710 12,480 MAIN and MUSC AV Upgrades 85,856 269 86,125 ARKU 204 Bathroom Renovatio 111,768 11,685 123,453 MULN Renovations 200,000 180,000 22,003 253,885 148,118 Gas Turbine Critical Operating Spares 85,000 (20,512) 64,488 CCHP#2 Tower Gearbox Replacement 50,000 36,386 13,614 Williams Gas Yard Safety Barriers 85,000 40,000 4,435 120,565 Hang "Campaign Arkansas" Banners 13,588 (7,295) 6,293 OLD MAIN Interior Renovation-Office 348,802 304,285 44,517 Chemistry ERU #2 Replacement 118,530 118,530 WCOB/WJWH/RCED AV Upgrades 198,422 198,422 CHEM/MAIN AHU Control Valve Upgrade 50,000 50,000 ECHP Indoor Unit Fan Motor Replacement 32,610 32,610 Demolition Reagan/Maple/Gregg St. 117,700 100,665 17,035 Demolition 214 & 228 Eastern Ave 42,000 31,260 10,740 HOEC Roof Repairs 15,904 15,904 ENRC Roof Repairs 18,389 18,389 ENRC Power Study 6,000 6,000 HPER Fitness Center Flooring Replacement 82,727 82,727 FNAR Duct Silencer Replacement 30,000 25,880 4,120 PRESS Warehouse Theater Storage 35,000 35,000 BELL 2284 Carpet 55,708 28,305 27,403 JBHT 236 AV Upgrade 15,975 15,975 STON Room F50 Renovations 10,021 10,021 PRESS PMC Renovation 56,570 56,570 ADSB UITS Security Upgrades 23,212 23,212 UAPD Camera and Access Control System Upgrade 36,000 32,564 3,436 2012 Cline St. Property Demolition 19,187 19,187 Misc FDC & Standpipe Replacements 31,682 31,682 110 Harmon Avenue Renovations 400,589 400,589 GRAD 124 Restroom Renovations 23,381 23,381 SCEN 608 Remove Cabinets & Cut in Floor 10,000 8,657 1,343

34 Schedule 9 University of Arkansas Schedule of Changes in Renewals and Replacements For the Year Ended June 30, 2017

Additions Net Transfers Deductions Balance Balance July 1, 2016 Income Interfund Intrafund Expenditures June 30, 2017 ENRC Labs White Boxing $ $ $ 200,000 $ (200,000) $ $ McIlroy House Renovations 250,000 5,265 244,735 Old Main East Lawn Lighting Replacement 1,233,386 (403,280) 570,043 260,063 Campus Wide Access Controls Upgrades 480,000 20,558 459,442 CARP Shop Cabinets 12,600 12,600 UNHS Replace Patio Doors 16,007 16,007 MEEG ENRC Lab Renovations 344,666 200,000 36,569 508,097 MEMH 135/138 Renovations 39,486 39,486 JBHT Fire Alarm System Upgrades 144,500 52,326 92,174 CHEM Fire Alarm System Upgrades 85,000 80,728 4,272 ADMN 4th Floor Carpet Replacement 46,805 46,805 GRAD 156 & 249 Remodel 46,710 46,710 Occupational Therapy House 355,829 355,829 MEEG Security System Installation 16,096 16,096 WJWH EMBA Capture System 26,631 26,631 RCED Lightboard Project 36,839 36,839 MAIN 10 Classrooms AV Upgrades 153,220 153,220 MUSC 101 Piano Room AV Upgrades 33,015 33,015 ARKU 503 & 504 Partition Replacement 18,365 18,365 ENRC RTU Replacement 25,000 21,412 3,588 ARKU Floor Finishes Replacement 15,400 6,049 9,351 WATR Repair Storm Drains 251,202 170,279 80,923 Delta Sigmna Theta Porch Repairs 37,103 37,103 MUSC Rekey Building 36,439 36,439 STOS Repair West Wall 96,640 74,307 22,333 Enterprise Center Fitout AREON 140,441 140,441 627 N. Oakland Demolition 24,057 24,057 Demolition 775 Government Warehouse 28,045 28,045 ENRC Boilers Replacement 165,000 95,372 69,628 ADMN Security System Upgrade 12,020 11,871 149 FERR 2-B Mass Spec/Cleanroom Mod & Demo 42,491 34,805 7,686 ROSE - Transformer Replacement 75,000 75,000 Stadium Dr. Garage - Transformer Replace 75,000 75,000 Wilson/Sharp Transformer Replacement 75,000 75,000 Meadow/Stadium Dr. Sanitary Line Replacement 75,000 75,000 RCED NE Patio Renovation 31,900 11,372 20,528 HPER Racquetball Court Repair 59,600 58,973 627 MCHS Hill Handrail Repair 11,914 11,914 ESPL (ECEN) Work on Various Rooms 35,601 33,448 2,153 ADMN 127 Renovation 95,880 95,880 GRND Repairs to Bulding 15,276 15,276 Leroy Pond Externsion/Razorback Rd 55,000 16,204 38,796 Beechwood Parking Lot 20,000 19,575 425 BAUM East Feasibility Study for Band Pract 61,849 61,839 10

35 CCTV Upgrades Fulbright College 2017 95,814 36,349 59,465 NODU 13 North Duncan Replace Roofing 14,805 14,805 HOEC RM 112 Flooring Remodel 19,844 540 19,304 BELL Combine Rooms 2267 and 2268 336,008 111,623 224,385 Alumni Boiler Replacement 145,000 3,678 141,322 Gibson Hall Steam Upgrades 165,000 41,106 123,894 ECEN - El Burrito Loco 16,302 14,954 1,348 CHPN Workspace Upgrades 156,954 154,759 2,195 WCOB Controls Upgrade Phase 1 200,000 146,141 53,859 ENRC Compressed Air Improvement 25,000 25,000 ENRC Madga Lab Humidity Resolution 10,000 1,431 8,569 ENRC Makeup Air 50% 50,000 50,000 ENRC Safety/Eyewash Station 50,000 50,000 RCED 103 AV Upgrades 23,328 23,142 186 ESPL 1st Floor Electrical Improvements 12,979 12,979 GRAD Various Exterior Work 27,461 15,650 11,811 HPER 308 Remodel 11,324 9,333 1,991 Maple St. Lighting Improvements 44,750 403,280 102,360 345,670 HOEC Rm 23 Remodel 65,000 8,265 56,735 Demolition Study Abroad House 36,700 26,762 9,938 FNAR Theatre Stage Reinforcement 101,000 89,444 11,556 PHYS AHU 5 Retrofit 23,000 6,588 16,412 COE JHB Innovation Bell Ineg Lab 22,973 19,503 3,470 N. Chiller Plant Tunnel Hatch Removal 50,000 50,000 Fulbright College CR AV Upgrades Sum 2017 229,700 225,310 4,390 HPER Natatorium Repairs 79,888 79,888 MAIN CHWP Air and Dirt Separator 44,022 44,022 MEEG Room 227 Renovation 42,000 42,000 Nettleship Gas Yard Electrical 17,305 11,158 6,147 Home Management House Renovation 225,000 7,951 217,049 WCOB/RCED Classroom AV Upgrades 181,967 149,696 32,271 CHEM/MAIN High Performance CHW Valve Ins 64,000 64,000 ARKU Treasurer Office Security System 17,018 17,017 1 COEHP Classroom Whiteboard Upgrades 39,661 762 38,899 POSC A211 and HOEC 102 AV Upgrades 75,421 55,442 19,979 ARKU Help Desk 95,700 (95,700) WCOB Classroom Carpet Replacement 64,504 50,332 14,172 UIT Help Center and Info Desk 190,800 95,700 14,053 272,447 ARTP Masterplan 42,496 42,496 MISC 532 N Lindell House Renovation 22,302 22,302 ARKU Replace Sidewalk Southeast Corner 36,694 36,694 Demolition 2300 Razorback Road 45,500 45,500 HPER Fitness Center Renovation 23,000 12,715 10,285 HEAT Condensate Pumps Replacement 100,000 2,388 97,612 ECEN Colling AHU Replacement 647,500 21,201 626,299 WCOB/RCED/WJWH CCTV Upgrade 183,392 183,392 Demolition 446 Cato Springs Road 39,900 39,900 HPER Mechanical Room Insulation Repairs 75,000 75,000 ADMN Replace CHW Pumps 40,000 40,000 ADMN Replace AHU 2 100,000 100,000 DCOP Renewal & Replacement Reserve NANO ADHE Stewardship 971,140 194,228 1,165,368

36 Schedule 9 University of Arkansas Schedule of Changes in Renewals and Replacements For the Year Ended June 30, 2017

Additions Net Transfers Deductions Balance Balance July 1, 2016 Income Interfund Intrafund Expenditures June 30, 2017 ECHP ADHE Stewardship $ 192,189 $ $ 128,124 $ $ $ 320,313 Hillside Auditorium ADHE Stewardship 263,814 87,938 351,752 Jean Tyson Child Development ADHE Stewardship 175,485 58,495 233,980 Uptown Campus ADHE Stewardship 439,914 146,638 586,552 Cato Springs Research Ctr ADHE Stewardship 144,086 72,043 216,129 East Square Plaza ADHE Stewardship 342,950 413,940 756,890 Stephen L Anderson Desg. ADHE Stewardship 170,600 85,300 255,900 Ozark Hall ADHE Stewardship 91,550 45,775 137,325 Champions Hall ADHE Asset Management 165,475 165,475 Biology Greenhouse ADHE Asset Management 30,420 30,420 ECHP Stewardship (UA) 147,825 98,553 246,378 Vol Walker Stewardship (UA) 283,176 141,588 424,764 Ozark Hall Stewardship (UA) 341,330 170,665 511,995 Faulkner Center Stewardship (UA) 103,750 103,750 Davis Hall Stewardship (UA) 128,318 128,318 Peabody Hall Stewardship (UA) 153,373 153,373 MLK Geo Science Stewardship (UA) 16,490 16,490

$ 13,579,771 $ (856) $ 22,564,731 $ $ 16,035,221 $ 20,108,425

From Auxiliary Services Lot 56 Lighting Improvements $ 1 $ $ $ $ 1 $ Pomfret B Fan Coils and Exterior 282,162 (256,147) 26,015 Soccer Field Upgrades 450 (450) Gibson Suonder Bases 1 1 Brough Starbucks Addition 23,472 (23,472) Holcombe Replace Control Valves 7,925 (7,925) Facilities Vehicles 2,124 43,015 43,027 2,112 Upgrade CCTV Halls Multi 59,374 45,387 13,987 Multi Buildings - Single Mode Fiber Optic 190,312 190,312 Pomfret C/D - Windows/ Storefronts/Doors 110,958 66,379 44,579 Futrall Classroom 14,445 157 14,288 Parking Facilities Security Systems Upgrades 898 (898) Walkin Coolers/Freezers Brough/Pomfret 41,453 41,453 Stadium Drive Garage Summer 2015 42,724 (271) 42,453 Stad. Drive Gar Stair Enclosure & Repairs 34,821 (34,568) 253 Data Switches Multi Building 29,483 29,483 Quad A & B HVAC 11,511 (11,511) Gibson Bathroom Remodel 775,103 371,223 403,880 Billingsley Tennis Courts Study 1,798 750,000 704,322 47,476 Reid Pigeon Proofing 33,139 4,352 37,491 Gregson Wireless 65,594 65,594 Holcombe Wireless 69,039 33,470 35,569 Walton Wireless 160,900 46,976 113,924

37 Futrall Wireless 88,036 32,137 55,899 Gibson Wireless 65,965 65,965 Duncan MTN Exterior Walls/Joints 113,236 (77,631) 35,605 Multi Epoxy Projects 30,099 17,746 12,353 Asbestos Multi Area 1,189 1,311 2,500 Nettleship Gas Yard 11,494 (11,330) 164 Bookstore Reset of General Book Area 4,338 3,000 1,338 Holcombe Replace Steamvalves 17,773 17,328 445 ARKU N Terrace 12,011 (6,306) 5,705 Quad (Fulbright Dining) Upgrade 173,889 (21,836) 152,053 SASC Site Work 38,450 38,450 NWQA Paint Community Spaces 43,200 43,200 GAPG Wellness Center 15,335 (1,235) 14,100 POMF Feasibility Study 3,228 (3,228) Gregson Hallway Carpet 1,145 (1,145) Laundry Room Improvements-Various 36,096 2,470 33,626 NWQA Hallway Carpet 3,347 (3,347) NWQA-Student Room Flooring 106,612 101,695 4,917 NWQA-Student Room Paint 128,150 128,150 REID Water Fountains 4,515 (4,515) Multi Mattress Replacements 8,390 59,571 67,961 FUTRALL- Repair East Patio & Correc 62,109 227 61,882 FUTRALL- Replace Exterior Doors 31,250 31,250 GREGSON Paint Student Rooms 133,000 132,880 120 HUMPHREYS- Roof Replacement 125,500 125,448 52 NWQA B Dumpster Pad Repair 18 (18) Gibson- Repair Leaking Wall 3,710 3,702 8 DWRRS Repairs Summer 2016 917,870 (120,512) 797,358 Yocum Curb Cuts 288 (288) Multi- Lifecycle Replacements/Improve 1 274,451 242,420 32,032 Holcombe West Entry Repair 87,519 73,531 13,988 Wireless Retrofit Project-Hotz Hall 106,901 327,012 9,065 424,848 Wireless Retrofit Project-Maple Hill 112,491 222,900 3,021 332,370 Wireless Retrofit Project-Maple Hill 110,511 292,393 3,020 399,884 Wireless Retrofit Project-Humphreys 90,137 313,837 25,356 378,618 Wireless Retrofit Project-Maple Hill 109,249 364,279 3,136 470,392 Wireless Retrofit Project-NWQB 61,251 61,251 Wireless Retrofit Project-Pomfret A 2,595 2,595 Wireless Retrofit Project-Pomfret C 38,825 136,020 174,845 Wireless Retrofit Project-Reid 23,154 752 22,402 Wireless Retrofit Project-Pomfret B 113,866 410,670 524,536 Wireless Retrofit Project-Pomfret D 56,097 118,748 174,845 Wireless Retrofit Project-Yocum 126,672 519,990 25,421 621,241 Wireless Retrofit Project-BuchDroke 26,285 26,285 Wireless Retrofit Project-Gatewood Ha 41,512 245,729 5,860 281,381 Wireless Retrofit Project-Founders 70,070 182,846 15,522 237,394 Wireless Retrofit Project-Glad/Rip 30,613 30,613 HAPF Office 711 Remodel 2,143 (2,143) Transit Maintenance Facility 12,129 3,417 8,712 Markham House Improvements 75,000 14,815 60,185 AFLS Install Freight Farm Pod 5,887 548 6,435 Sigma Nu Improvements (Paint & Floori 68,000 (3,559) 64,441

38 Schedule 9 University of Arkansas Schedule of Changes in Renewals and Replacements For the Year Ended June 30, 2017

Additions Net Transfers Deductions Balance Balance July 1, 2016 Income Interfund Intrafund Expenditures June 30, 2017 BucDroke Kitchen Remodel $ 8,647 $ $ $ $ 1,207 $ 7,440 GladRip Kitchen Remodel 8,647 1,190 7,457 Stadium Garage Summer 2016 Repairs 236,207 85,000 258,396 62,811 Harmon Garage Summer 2016 Repairs 417,279 (80,923) 336,356 Garland Garage Summer 2016 Repairs 248,529 117,670 363,171 3,028 Duncan Ave Fire Repair(Stove, Hood Ve 6,000 4,842 1,158 Phi Gamma Delta Fire Alarm Project 13,000 (2,195) 10,805 Founders-Fire Damage 30,000 15,337 45,337 Brough Commons Fire Alarm Upgrade 11,245 11,245 Housing Network Power Supplies Projec 23,319 (21) 23,298 BKST Reset Shelving and Clothing Fixture 22,903 22,903 Barnhill Concession Stand Remodel 83,473 83,473 Barnhill Cabling Project 66,843 66,843 NWQ B-Heating & chilled Water Line Repairs 56,296 56,296 Pomfret ERU System Recommissioning 55,010 42,486 12,524 LOTO-Brady 40 Procedure 14,053 12,734 1,319 BAUM Stadium Net Extension 43,928 43,928 McDonnell Outdoor Track Video Board Repl 319,604 319,604 Bud Walton Arena Courtside Club Remodel 105,079 105,079 RFP for BWAR South & East Skylights 111,428 111,428 Duncan Ave Apartments Furniture Replace 159,000 148,430 10,570 Bogle Park Pad Replacement 60,398 60,398 Turf Replacement Indoor Baseball Practice 47,963 47,963 Football Center Upgrades 100,000 84,219 15,781 Brough Re-roof 350,500 26,730 323,770 NWQ Facilities Assessment 25,000 15,428 9,572 NWQB Carpet Replacement 110,550 106,814 3,736 Yocum Concrete Step Repair 5,707 5,200 507 Walton Yard Drain Installation 9,562 8,693 869 Pomfret Humidity Sensors 2,310 2,142 168 NWQ Repair Snow Rails on Roof 2,563 2,563 Bus Barn Parking Expansion 1,706,688 1,404,252 302,436 Maple/Reagan Parking Lot 202,720 202,720 NWQB Painting 241,451 43,625 197,826 Yocum Tash Chute Clean/Repair 19,500 19,500 Humphreys Trash Chute Clean/Repair 19,500 19,500 Reid Roof Assessment (East Side) 149,865 96,891 52,974 Housing Central Evaporator Coil Replace 27,336 27,336 NWQB Computer Lab Seating 22,472 21,887 585 NWQB Room 108 Tables/Chairs 23,035 22,434 601 NWQB Window Blind Replacements 30,800 30,800 NWQB Carpet Replacement 27,286 17,915 9,371 NWQB Resident Flooring 163,256 163,256 Pomfret C Student Chair Replace 55,000 55,000

39 NWQB Painting & Reseal 22,000 22,000 Garland Ave. Curb Line Adjustment 78,300 68,171 10,129 Union Station Canopy 18,075 13,719 4,356 HOUS Multi Roof Repairs 39,682 19,872 19,810 HOUS-Multi Staff Break Room Improvements 105,925 105,925 ARKU Bakery Freezer/Cooler Replacement 106,000 99,206 6,794 Yocum - CRE Apartment Renovation 57,000 20,107 36,893 Gravel Parking at N Storet and Maple St. 132,562 95,067 37,495 Lot 56D Parking Lot Expansion 243,114 243,114 VRIC Office Space 168,630 125,840 42,790 Founders-Repair Trash Compactor Floor 10,505 10,481 24 GAPG Renumber the Spaces 36,890 36,890 Lot 17 (Scooter Lot) Install Exter Lights 11,860 11,860 Flood Damage - MEH & Walton 9,613 9,613 Harmon Garage 2017 Repairs 334,419 295,965 38,454 Garland Garage 2017 Repairs 302,389 265,748 36,641 MHE Chilled Water System Controls 7,634 7,634 HOUS Smart Room Video Technology Upgrade 10,000 10,000 IT Mobile Warehouse & Computing Project 13,389 3,728 9,661 IT Network Switch Upgrades 177,500 177,500 IT Virtualization Infrastructure Project 35,535 34,564 971 Athletic Venue Cameras 2017 21,211 21,211 HAPG Slope Stabilization Project 890,136 56,005 834,131 HOUS S Campus Tools/Equip Start Up 836,927 836,927 Summer 2017 Parking Lot Maintenance 125,500 125,500 DWRRS SEZ Locker Room/Kitchen Remodel 900,000 42,196 857,804 Douglas St Parking Deck Feasibility Study 41,500 37,817 3,683 HOUS Office AV Upgrades 37,734 37,734 Au Bon Pain Renovation 18,543 18,543 Brough Drain Line Repair 10,800 10,800 Fred W. Smith ADHE Stewardship 201,000 100,500 301,500 Fowler Family BB/Track ADHE Stewardship 134,074 67,038 201,112 Basketball Perfromance Center 82,838 82,838 Student Athlete Success Center 73,125 73,125 Broadcast Control Center Stewardship (UA) 767,500 505,000 13,785 1,258,715 Hotz Hall ADHE Stewardship 240,942 120,471 (361,413) Founders Hall ADHE Stewardship 195,750 97,875 293,625 Housing Office ADHE Stewardship 49,148 24,574 73,722 Pi Kappa Alpha ADHE Stewardship 32,700 32,700 Pi Kappa Alpha Stewardship (UA) 36,151 36,151 (32,700) 39,602 HOTZ Hall Stewardship (UA) 361,413 361,413

$ 7,361,173 $ $ 14,937,332 $ $ 9,323,215 $ 12,975,290 Total Unrestricted $ 20,940,944 $ (856) $ 37,502,063 $ $ 25,358,436 $ 33,083,715 Total University of Arkansas - Fayetteville $ 21,178,169 $ 116,421 $ 38,506,951 $ $ 26,044,874 $ 33,756,667

40 Schedule 9 University of Arkansas Schedule of Changes in Renewals and Replacements For the Year Ended June 30, 2017

Additions Net Transfers Deductions Balance Balance July 1, 2016 Income Interfund Intrafund Expenditures June 30, 2017 UNIVERSITY OF ARKANSAS - AGRI EXPERIMENT STATION Unrestricted From Agriculture Experiment Station SEST Repair Chemical Storage Facility $ 20,000 $ $ $ $ $ 20,000 LFST Fire Bldg Insurance Proceeds 157,465 (48,073) 205,538 CTST Barn and Dwell #12 Roof Replacement 17,000 17,000 ANSC Lab Remodel 64,597 59,828 4,769 POSC L209 Install Exhaust Equipment 4,207 723 3,484 HORT Walk-IN Cooler 22,601 1,611 24,212 AGRI 110A and B Replace Carpet with Tiles 5,686 (5,686) CSES Seed Barn Dehumid 23,969 23,969 Altheimer Lab Fire Alarms Upgrades 44,500 43,625 875 POSC Turkey Barn Renovation 160,295 160,295 LFST Barn Stabilization 23,532 23,532 Cralley-Warren IT 175,381 174,810 571 Soil Barn & Carpet Re-roof 151,355 84,089 67,266 VGSS - Irrigation System Repair 34,708 34,708 SEST - Irrigation Well 39,833 39,833 AGRI 112 Install Door Into Hallway 12,739 435 12,304

Total Unrestricted $ 360,025 $ $ 593,768 $ $ 582,153 $ 371,640 Total Agriculture Experiment Station $ 360,025 $ $ 593,768 $ $ 582,153 $ 371,640 360,026 593,768 582,153 371,641 Totals (to Exhibit B) $ 21,538,194 $ 116,421 $ 39,100,719 $ $ 26,627,027 $ 34,128,307

(a) Investment Income 29,372 (b) Gift Funds 87,049 Total 116,421

41 University of Arkansas Schedule 10 Schedule of Changes in Debt Retirement Funds For the Year Ended June 30, 2017

Additions Deductions Interest Transfers Paying Agents' Balance Income and to/from Other Principal Interest Fees and Other Balance July 1, 2016 Other Additions Funds Retired Expense Deductions June 30, 2017

60. 2.9-5.5 Various Facility Revenue $ (2,386,882) $ $ 515,887 $ $ $ $ (1,870,995) Bonds, Series 2001A & 2001B 66. 4.00-5.00 University of Arkansas, Various 4,436 4,436 Facility Revenue Bonds, Series 2006 68. 4.00-5.00 University of Arkansas, Various 3 2,862 2,865 Facility Revenue Bonds, Series 2007 69. 4.00-5.35 University of Arkansas, Various 3 3,662 3,665 Facility Revenue Bonds, Series 2008 70. 3.00-5.00 University of Arkansas, Various 16 113 3,240,666 1,160,000 2,076,883 3,836 76 Facility Revenue Bonds, Series 2009A 71. 1.00-4.82 Athletic Facilities Revenue 11 2,739,148 2,230,000 504,890 4,262 7 Refunding Bonds, Series 2010 (taxable) 72. 2.00-5.00% Univeristy of Arkansas, Various 1,891,921 242 7,097,885 2,095,000 4,567,006 8,547 2,319,495 Facility Revenue and Refund. Bonds (Series 2011A&B) 73. 2.00-5.00% University of Arkansas Athletic Facilities 5 2,869,382 2,805,000 60,125 4,262 Revenue Bonds (Fayetteville Campus), Series 2011 74. 1.00-5.00% University of Arkansas Various Facility 35,897 124 3,408,422 1,050,000 2,344,100 3,929 46,414 Revenue Bonds (Fayetteville Campus) Refunding Series 2012A 75. 2.00-5.00% University of Arkansas Various Facility 53 258 3,876,082 1,130,000 2,741,600 4,653 140 Revenue Bonds (Fayetteville Campus), Series 2012B 76. 1.00-5.00% University of Arkansas Various Facility 44 226 3,431,991 1,135,000 2,293,013 4,130 118 Revenue Bonds (Fayetteville Campus), Series 2013A 77. 1.00-5.00% University of Arkansas Athletic Facilities 1 21 2,890,845 1,690,000 1,196,050 4,799 18 Revenue Bonds (Fayetteville Campus) Series 2013 Athletic 78. .85-5% University of Arkansas Various Facility 10 87 1,870,271 590,000 1,276,893 3,409 66 Revenue Bonds (Fayetteville Campus) Series 2014A&B 79. 2.00 - 5.00% University of Arkansas Various Facility 24 288 5,960,270 2,875,000 3,080,100 5,369 113 Revenue Refunding Bonds (Fayetteville Campus), Series 2015A 80. 2.00 - 5.00% University of Arkansas Athletic Facilities 1 111 1,126,873 505,000 618,250 3,726 9 Revenue Refunding Bonds (Fayetteville Campus), Series 2015 81. 1.02 - 4.40% University of Arkansas Various Facility 54 15 431,270 145,000 285,029 1,300 10 Revenue Bonds, (Fayetteville Campus) Series 2015B (Taxable) 82. 2.00 - 5.00% University of Arkansas Various Facility 1,662,564 149 6,315,570 5,405,000 1,298,150 2,655 1,272,478 Revenue Refunding Bonds (Fayetteville Campus) Series 2015C 83. 3.00 - 5.00% University of Arkansas Various Facility 153,847 626 6,105,774 1,560,000 4,690,424 7,325 2,498 Revenue Bonds (Fayetteville Campus), Refunding and Improvement Series 2016A 84. .87 - 3.25% University of Arkansas Various Facility 4,039 77 1,394,110 1,025,000 371,756 1,452 18 Revenue Bonds (Fayetteville Campus, Refunding Series 2016B (Taxable) 85 5.00% University of Arkansas Athletic Facilities 44 503,801 503,801 44 Revenue Bonds (Fayetteville Campus) Series 2016A (Tax-Exempt) 86 .87 - 3.25% University of Arkansas Athletic Facilities 980,937 980,937 Revenue Bonds (Fayetteville Campus) Series 2016B (Taxable)

$ 1,361,595 $ 2,397 $ 54,770,144 $ 25,400,000 $ 28,889,007 $ 74,620 $ 1,770,509

Notes Payable 528,787 364,371 170,813 86,940 635,405

Installment Contracts 3,890,287 3,331,553 580,170 (21,436)

Capital Leases Payable 278,485 60,000 60,441 191,510 9,914 (14,206) 211,708

Accrued Interest (5,359,372) 513,990 (5,873,362) $ (3,190,505) $ 62,397 $ 59,085,243 $ 29,093,876 $ 30,080,021 $ 60,414 $ (3,277,176)

42 Schedule 11

University of Arkansas Schedule of Bonds Outstanding June 30, 2017

Principal Principal Amount of Amount Amount Description Purpose for Original Retired to Outstanding of Bonds Which Issued Issue June 30, 2016 June 30, 2016

70 3.00-5.00 University of Arkansas Various Facility Nano Scale Building, Classroom Improvements, 52,430,000 6,450,000 45,980,000 Revenue Bonds (Fayetteville Campus), Series 2009A Lab Improvements, Davis Hall, Darby Hall, Wilson Sharp, Old Health Center, Peabody, Utility Renewal, Housing, Phi Delta Theta Unamortized Bond Premium 521,936 132,843 389,093

71 1.00-4.82 University of Arkansas Athletic Facilities Refund $19,145,000 of Series 1999 Bonds 23,965,000 13,985,000 9,980,000 Revenue Refunding Bonds (Fayetteville Campus), (Bond 59) for Donald W. Reynolds Series 2010 (Taxable) Razorback Stadiums and $4,000,000 of Series 2001 Subordinate Series (Bond 61) for Donald W. Reynolds Razorback Stadium

72 2.00-5.00% University of Arkansas Various Facility Revenue Bonds (Fayetteville Campus), Series 2011A Vol Walker Hall, Ozark Hall, Hillside 101,225,000 10,695,000 90,530,000 Auditorium, Classroom Improvements, Lab Improvements, Science Building, Child Develop. Center, Arkansas Union, ARTP Hazardous Waste Fac., Utility Infrastructure, Housing and Dining Imp.

3.00-5.00% University of Arkansas Various Facility Refund $3,580,000 of Series 1997 Bonds 8,895,000 1,105,000 7,790,000 Revenue Bonds (Fayetteville Campus) Refunding (Bond 58) and $6,270,000 of Series 2001A Series 2011B Bonds (Bond 60)

Unamortized Bond Premium 5,061,908 1,415,362 3,646,546

73 2.00-5.00% University of Arkansas Athletic Facilities Football Center (a) 23,575,000 23,575,000 Revenue Bonds (Fayetteville Campus), Series 2011

Unamortized Bond Premium (a) 1,652,111 1,652,111

74 1.00-5.00% University of Arkansas Various Facility Refund $44,555,000 of Series 2002 Bonds 56,965,000 8,580,000 48,385,000 Revenue Bonds (Fayetteville Campus) Refunding (Bond 62) and $17,080,000 of Series 2004A Series 2012A Bonds (Bond 63A)

Unamortized Bond Premium 9,247,517 2,344,705 6,902,812

75 2.00-5.00% University of Arkansas Various Facility Hotz Hall, Uptown Campus, Housing Office, 60,540,000 3,625,000 56,915,000 Revenue Bonds (Fayetteville Campus), Series 2012B Founders Hall/Brough Commons, Utility Infrastructure, John A. White Engineering Hall, Science Building, Various Roofs, MEEG HVAC, Senior Walk, Signage, ADA Compliance, Upper/Lower Service Drive, Property Purchases, Jean Tyson Child Development Center, Vol Walker

Unamortized Bond Premium 8,080,621 1,285,299 6,795,322

76 1.00-5.00% University of Arkansas Various Facility Classroom & Laboratory Building, Leroy Pond 54,450,000 4,520,000 49,930,000 Revenue Bonds (Fayetteville Campus), Series 2013A Utility Plant, Jim & Joyce Faulkner Performing Arts Center, Combined Heat & Power

Unamortized Bond Premium 6,451,658 903,415 5,548,243

77 1.00-5.00% University of Arkansas Athletic Facilities Athletic Academic and Dining Facility, Baseball 30,355,000 5,920,000 24,435,000 Revenue Bonds (Fayetteville Campus) Series 2013 Athletic and Track Indoor Training Facility, Basketball Practice Facility

43 Unamortized Bond Premium 5,294,718 1,523,771 3,770,947

78 2.00-5.00% University of Arkansas Various Facility Cato Springs Research Center, Central Heating 24,730,000 1,085,000 23,645,000 Revenue Bonds (Fayetteville Campus), Series 2014A Plant, Jim & Joyce Faulkner Peforming Arts Center, Agricultural Food and Life Science Building, Art and Design District

Unamortized Bond Premium 2,345,740 239,905 2,105,835

.85-4.5% University of Arkansas Various Facility Pi Kappa Alpha Fraternity Residence 5,020,000 255,000 4,765,000 Revenue Bonds (Fayetteville Camus) Series 2014B (Taxable)

79 2.00 - 5.00% University of Arkansas Various Facility Refund $2,750,000 of Series 2004(B) (Bond 70,360,000 5,645,000 64,715,000 Revenue Refunding Bonds (Fayetteville Campus) 63), $13,510,000 of Series 2005(A) (Bond Series 2015A 64A), and $60,475,000 of Series 2006, (Bond 66)

Unamortized Bond Premium 11,921,267 1,304,246 10,617,021

80 2.00 - 5.00% University of Arkansas Athletic Facility Refund $4,770,000 of Series 2006 Athletic (a) 14,180,000 980,000 13,200,000 Revenue Refunding Bonds (Fayetteville Campus) Bonds (Bond 67) and $10,475,000 of Series 2015 Series 2011 Athletic Bonds (Bond 73)

Unamortized Bond Premium 2,204,435 690,400 1,514,035

81 1.02 - 4.40% University of Arkansas Various Facility Lambda Chi Alpha Fraternity Residence, 7,510,000 145,000 7,365,000 Revenue Bonds, (Fayetteville Campus) Series 2015B Pi Kappa Alpha Fraternity Residence, (Taxable) Natural Gas Service Line

82 2.00 - 5.00% University of Arkansas Various Facility Refund $45,945,000 of Series 2005B 36,675,000 10,680,000 25,995,000 Revenue Refunding Bonds (Fayetteville Campus) Bonds, (Bond 64B) Series 2015C

Unamortized Bond Premium 3,580,610 1,067,901 2,512,709

83 3.00 - 5.00% University of Arkansas Various Facility Refund $38,200,000 of Series 2007A Bonds 93,590,000 1,560,000 92,030,000 Revenue Bonds (Fayetteville Campus), Refunding and (Bond 68), and $35,545,000 of Series 2008A Improvement Series 2016A Bonds (Bond 69A). Also provide funding for Civil Engineering Research and Education Center, Kimpel Hall Renovation, Library Storage, Monument Signs, Intr- mural Sports Facilities, Discovery Hall Renovation, Pat Walker Health Center Expansion, Sigma Alpha Epsilon Fraternity, and other Capital Improvements

Unamortized Bond Premium 15,213,500 788,264 14,425,236

84 .87 - 3.25% University of Arkansas Various Facility Refund $13,500,000 of Series 2008B 15,280,000 1,025,000 14,255,000 Revenue Bonds (Fayetteville Campus, Refunding Bonds (Bond 69B). Series 2016B (Taxable)

85 5.00% University of Arkansas Athletic Facilities Expansion of Donald W. Reynolds 24,845,000 24,845,000 Revenue Bonds (Fayetteville Campus) Series 2016A Razorback Stadium - North End Zone (Tax-Exempt) new seating, connection of east and west, elevators, administrative offices, etc.

Unamortized Bond Premium 5,154,015 181,221 4,972,794

86 .87 - 3.25% University of Arkansas Athletic Facilities Expansion of Donald W. Reynolds 90,000,000 90,000,000 Revenue Bonds (Fayetteville Campus) Series 2016B Razorback Stadium - North End Zone (Taxable) new seating, new suites, loge boxes, club seats, club areas

$ 871,320,036 $ 113,359,443 $ 757,960,592

28,232,253 Footnotes: 786,192,845

(a) On February 12, 2015, the University issued Athletic Facilities Revenue Refunding Bonds (Fayetteville Campus), Series 2015 in the amount of $14,180,000. This bond issue refunded $4,770,000 of Series 2006 Athletic Revenue Bonds, and $10,475,000 of Series 2011 Athletic Revenue Bonds. This also resulted in a $842,914 decrease in the Unamortized Bond Premium balance related to the Series 2011 bonds.

44 Schedule 12 University of Arkansas Schedule of Capital Leases Outstanding and Notes Payable June 30, 2017

Principal Principal Amount of Amount Amount Description Purpose for Original Retired to Outstanding of Liability Which Issued Issue June 30, 2017 June 30, 2017

Capital Lease IBM Mainframe 530,400 395,938 134,462

Capital Lease BMEG Vantage - Xray Machine 238,148 105,570 132,578

Capital Lease CSES Tractor Lease 33,683 19,784 13,899

Capital Lease POSC Agilent 1260 61,563 61,563

Installment Contract ESPC - Steam Plant 4,935,766 583,335 4,352,431

Installment Contract ESPC - Campus Wide ($23M) 16,969,012 3,790,729 13,178,283

Installment Contract ESPC - Phase III 6,844,590 1,515,266 5,329,324

Note Payable $3M Housing Loan 3,000,000 2,113,008 886,992

Note Payable (a) Sigma Chi Loan 2,071,140 1,374,086 697,054

$ 34,684,302 $ 9,897,716 $ 24,786,586

(a) This note payable to UAMS is related to a UAMS bond issue.

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46 University of Arkansas Schedule of Net Investment in Plant For the Year Ended June 30, 2017 Infrastructure & Furniture Improvements Construction and Other Than in Land Buildings Equipment Buildings Progress

Balance July 1, 2016 $ 57,256,871.00 $ 1,564,243,119.00 $ 241,551,427.00 $ 147,440,392.00 $ 46,588,148.00

Add or (Deduct): Gifts/Grants 670,871.00

Additions from Plant Funds 2,695,947.00 1,879,905.00 3,116,231.00 1,238,918.00 82,198,786.00 Current Funds 12,898,547.00 690,556.00

Net Capitalized Interest Exp 3,063,756.00

Reclassified from Other Assets

Net Increase/(Decrease) in Livestock

Lease Purchases 315,658.00

Construction in Progress Completed/Reclassify Intangible Assets 37,145,183.00 11,878,355.00 (49,023,538.00)

Interunit Transfers

Transfer/Disposal of Property (10,507,948.00) (9,390,387.00) 401,545.00

Bonds Payable Transferred to Net Investment in Plant

Deferred Loss on Refinanced Bonds

Bond Issuance Costs

Bond Premium/Discount

Bonds Retired/Defeased (Schedule 10)

Notes and Capital Leases Payable Assumed

Notes and Capital Leases Payable Retired (Schedule 10)

Prepaid Maintenance on Lease Purchase Expenses in FY2017

C.I.P. Expenditures Expensed in FY2017 274.00

Adjustments 119,361.00 Balance June 30, 2017 $ 59,952,818.00 $ 1,592,760,259.00 $ 249,281,708.00 $ 160,959,210.00 $ 83,517,982.00

47 Schedule 13

Other Total Net Library Intangible Physical Physical Bonds Other Investment Holdings Assets Property Properties Payable Payables in Plant

$ 84,428,830.00 $ 79,476,189.00 $ 2,191,473.00 $ 2,223,176,449.00 $ 626,581,372.00 $ 28,232,254.00 $ 1,568,362,823.00

5,318,276.00 5,989,147.00 5,989,147.00

91,129,787.00 91,129,787.00 841,203.00 14,430,306.00 14,430,306.00

3,063,756.00 3,063,756.00

16,848.00 16,848.00 16,848.00

315,658.00 315,658.00

(67,049.00) (2,052,575.00) (21,616,414.00) (21,616,414.00)

49,307,105.00 (49,307,105.00)

1,511,195.00 (1,511,195.00)

1,195,789.00 (1,195,789.00)

(25,400,000.00) 25,400,000.00

248,207.00 (248,207.00)

(3,693,877.00) 3,693,877.00

274.00 274.00

119,361.00 119,361.00 $ 90,521,260.00 $ 77,423,614.00 $ 2,208,321.00 $ 2,316,625,172.00 $ 653,195,461.00 $ 24,786,584.00 $ 1,638,643,127.00

48