University Budget
The Office of Budget & Financial Planning develops and monitors the annual budget which is approved by the Board.
Audited Financial Statements
Official Statements
The University publishes an Official Statement whenever it issues bonds. The Official Statement provides pertinent information about the University and the terms of the bonds. Please use the links below to access the university's Official Statements for recent financings:
- Commercial Paper - $60 million
- Commercial Paper - $30 million
- 2012 Series A revenue refunding bonds
- 2008 Series C revenue refunding bonds
- 2008 Series A&B revenue refunding bonds
- 2006 revenue refunding bonds
- 2004 Series A revenue bonds
- 2002 Series A revenue bonds
- 2001 Series A revenue refunding bonds
Municipal Disclosures
The Electronic Municipal Market Access system, or EMMA, is a comprehensive, centralized online source for free access to municipal disclosures, market transparency data and educational materials about the municipal securities market. The official statements, financial statements, and other continuing disclosure documents for municipal issuers can be found on the EMMA website.
Form 990
The university supplies its Form 990, simultaneously with its filing with the Internal Revenue Service, to Guidestar. Recent Form 990 filings may be found by visiting Guidestar.org.
Rating Agency Reports
Rating agencies provide independent measurements of an issuer's creditworthiness. CWRU is rated by Moody's and Standard & Poor's.
Moody's Investor Service
Standard & Poor's
Operating Fund Investment Policy
The University's operating funds are invested according to a policy approved by the Board in 2009.