Category 5—Overall

Overall financial well-being of Western Michigan University

These metrics evaluate the overall financial well-being of Western Michigan University.


  1. *During fiscal years 2018 and 2019, the University had an agreement to invest funds on the behalf of another organization with an agency relationship. Those funds were recorded as cash with a corresponding liability. The agency retained ownership of the funds and accrued interest until the agreement was terminated prior to the end of fiscal year 2019.
  2. Debt ratings—Standard & Poors
    FY2016FY2017FY2018FY2019FY2020
    A/Stable A/Stable A/Stable A/Stable A/Stable
  3. Debt ratings—Moody's
    FY2016FY2017FY2018FY2019FY2020
    A1/Positive A1/Positive A1/Positive Aa3/Stable Aa3/Stable

  4. ** During the year ended June 30, 2015, the University implemented Governmental Accounting Standards Board Statement No. 68, Accounting and Financial Reporting for Pensions. The standard requires that governmental entities providing defined benefits to their employees recognize their unfunded pension benefit obligation as a liability for the first time, and to more comprehensively and comparably measure the annual costs of pension benefits.


    During the year ended June 30, 2018, the University implemented Governmental Accounting Standards Board Statement No. 75, Accounting and Financial Reporting for Postemployment Benefits Other than Pensions. The standard requires that governmental entities providing other postemployment benefits (OPEB) plans to recognize their unfunded OPEB obligation as a liability for the first time, and to more comprehensively and comparably measure the annual cost of OPEB benefits.