Financial Accounting & Reporting

The University's financial statements are prepared in accordance with Governmental Accounting Standards Board (GASB) principles, which establish standards for external financial reporting for public colleges and universities. GASB standards require that financial statements be presented for the University as a whole. The audited financial statements includes the combined balances of the University of Washington and its blended component units.

Financial Statement Reporting & Workday

There are 16 Workday companies. For financial statement reporting purposes, the Workday companies represent:

UW stand-alone

  1. UW1861
  2. School of Medicine (SOM)
  3. Metropolitan Tract (MT)
  4. UW Medical Center (UWMC)
  5. Airlift Northwest (ALNW)
  6. UW Medicine Shared Services (UWMSS)

Blended Component Units 

  1. Portage Bay Insurance (PBI)
  2. Washington Biomedical Research Properties (WBRPs)
  3. University Physicians (UWP)
  4. UW Physicians Network (UWMPC)
  5. UW Medicine Choice Care LLC

Discrete Component Units

  1. Fred Hutchinson Cancer Center (FHCC)
  2. Valley medical Center (VMC) (Discrete component unit relationship dissolved 7/1/24)

Related Parties

  1. UW Alumni Association (UWAA)
  2. UW Foundation (UWF)
  3. Harborview Medical Center (HMC)

The 16 Workday companies are aligned between two organizations: UW Academy and UW Medicine. The Workday companies are organized as follows:

Academy-Org

  1. UW1861
  2. School of Medicine (SOM)
  3. Metropolitan Tract (MT)
  4. Portage Bay Insurance (PBI)
  5. Washington Biomedical Research Properties (WBRPs)
  6. UW Alumni Association (UWAA)
  7. UW Foundation (UWF)

Medicine-Org

  1. UW Medical Center (UWMC)
  2. Airlift Northwest (ALNW)
  3. UW Medicine Shared Services (UWMSS)
  4. University Physicians (UWP)
  5. UW Physicians Network (UWMPC)
  6. UW Medicine Choice Care LLC
  7. Fred Hutchinson Cancer Center (FHCC)
  8. Valley medical Center (VMC)
  9. Harborview Medical Center (HMC)