Duke’s fiscal year ended June 30, and with it came new information about Duke’s finances. To maintain its tax-exempt status, the University must comply with certain federal public disclosure requirements that often shed light on Duke’s financial affairs. Its 99 pages summarize Duke’s financial outlook in terms of its workforce, revenue, assets, liabilities, grants received, investment income and total number of volunteers. Consolidated balance sheets are snapshots of Duke’s financial position at a specific point in time that report assets and liabilities. HERD SurveyAnother report containing information on Duke’s finances comes from the government itself.