Lamar University Annual Financial Report: 2017 Page: 23
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UNAUDITED
Lamar University (734)
NOTE 7: Derivative Instruments
Lamar University has no derivative instruments as of August 31, 2017.
NOTE 8: Leases
Operating Leases
Included in the expenditures reported in the financial statements are the following amounts of rent
paid or due under operating lease obligations:
Fund Type Amount
Designated 31,500.00
Auxiliary 14,917.44
$46,417.44
Future minimum lease rental payments under non-cancellable operating leases having an initial
term in excess of one year are as follows:
Fiscal Year Ended August 31 Amount
2018 35,914.44
2019 14,917.44
2020 14,917.44
2021 3,729.36
2022 0.00
Total Minimum Future Lease Rental Payments $ 69,481.68
Capital Leases
Lamar University has no capital leases as of August 31, 2017.
NOTE 9: Pension Plans
The state established an optional retirement program for institutions of higher education.
Participation in ORP is in lieu of participation in the Teacher Retirement System and is available
to certain eligible employees. The contributions made by plan members and employers for the
fiscal year ended 08/31/17 are:
Year Ended August 31, 2017Member Contributions $ 2,135,993.00
Employer Contributions 2,333,416.00
Total $ 4,469,409.00
Annual Financial Report - Fiscal Year Ended August 31, 2017
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Lamar University. Lamar University Annual Financial Report: 2017, report, 2017; Beaumont, Texas. (https://texashistory.unt.edu/ark:/67531/metapth1114498/m1/34/?q=Lamar+University: accessed June 1, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.