CAL POLY POMONA FOUNDATION Budget Presentation 2014-2015 CAL POLY POMONA FOUNDATION 2017-2018 2017-2018 Board of Directors Meeting Business Plan & Budget Review May 18, May 18, 2017 2017
POLICY NO. 118 ‐ Foundation Budget Process Annual operating and capital budget for all activities include: ‐ Proposed Revenues and Expenditures ‐ Requests for Designated Gifts ‐ Requests for Capital Improvements ‐ Requests for New Staff Positions ‐ Debt Service Coverage ‐ Contributions to Reserves and Withdrawals from Reserves ‐ Forecast of Current Year Revenues and Expenditures
General Activities ‐ Administration ‐ Accounting, Finance and Investments ‐ Employment Services ‐ Management Information Systems ‐ Marketing ‐ Real Estate Development and Management Enterprises ‐ Bookstore ‐ Dining Services ‐ Kellogg West Conference Center ‐ Foundation Housing Services Designated Gifts Supplemental Programs Restricted ‐ Research and Sponsored Programs ‐ Endowments/Investments ‐ Agriculture Aid ‐ to ‐ Instruction ‐ Restricted Foundation Programs ‐ Non ‐ credit Continuing Education ‐ Unrestricted Foundation Programs Reserves
2016 ‐ 2017 2016 ‐ 2017 2017 ‐ 2018 SOURCES OF CASH Approved Budget Forecast Budget Proposed Budget SURPLUS (DEFICIT) TOTAL OPERATING SURPLUS (DEFICIT) 4,932,162 6,458,261 5,738,430 Designated Gifts (1,558,684) (1,326,596) (1,577,573) NET OPERATING SURPLUS (DEFICIT) 3,373,478 5,131,665 4,160,857 NON ‐ CASH TRANSACTIONS: Depreciation and Amortization 4,078,026 3,903,837 3,949,422 Post Retiree Medical Benefits 731,761 731,761 530,000 TOTAL CASH GENERATED BY OPERATIONS 8,183,265 9,767,263 8,640,279 FINANCING TOTAL SOURCES OF FINANCING ‐ ‐ ‐ RESERVES 1,187,400 733,183 54,000 Capital Reserve 90,000 ‐ 80,000 Residential Board Meal Program Surplus Reserve 500,000 ‐ ‐ Venture Capital/Real Estate Reserve ‐ ‐ ‐ Insurance Reserve 70,000 50,000 ‐ Pine Tree Ranch Reserve 14,750 ‐ 14,750 Agriculture Program Reserve 392,879 473,302 473,302 Withdraw of funds from Post Retiree Medical Benefit Trust TOTAL SOURCES FROM RESERVES 2,255,029 1,256,485 622,052 TOTAL SOURCES OF CASH $ 10,438,294 $ 11,023,748 $ 9,262,331 * Cash generated by Operations, Financing and Reserves $9.26 Million
SOURCES OF CASH Reserves $622,052 Post Retiree Medical Benefits 7% $530,000 Net Operating Surplus 6% $4,160,857 45% Depreciation $3,949,422 42%
2016 ‐ 2017 2016 ‐ 2017 2017 ‐ 2018 ADMINISTRATION % 0f % 0f % 0f Approved Budget Revenue Forecast Budget Revenue Proposed Budget Revenue Revenues 4,703,009 4,489,899 4,789,579 100% 100% 100% Expenditures Controllable 869,839 922,975 1,046,876 18% 21% 22% Expenditures Non ‐ Controllable 331,615 313,153 338,324 7% 7% 7% Total Labor 3,472,057 3,342,410 3,504,586 74% 74% 73% Total Expenditures 4,673,511 4,578,538 4,889,786 99% 102% 102% Net Surplus (Deficit) $ 29,498 $ (88,639) $ (100,207) 1% ‐ 2% ‐ 2%
Administration Fee Revenues 1,400,000 1,200,000 2016 ‐ 2017 2016 ‐ 2017 2017 ‐ 2018 Approved Budget Forecast Budget Proposed Budget 1,000,000 800,000 600,000 400,000 200,000 ‐
2016 ‐ 2017 2016 ‐ 2017 2017 ‐ 2018 REAL ESTATE % 0f % 0f % 0f Approved Budget Revenue Forecast Budget Revenue Proposed Budget Revenue Revenues 4,101,132 4,766,123 4,611,177 100% 100% 100% Cost of Goods Sold ‐ 0% ‐ 0% ‐ 0% Gross Margin 4,101,132 4,766,123 4,611,177 100% 100% 100% Expenditures Controllable 2,345,809 57% 2,679,162 56% 2,619,082 57% Expenditures Non ‐ Controllable 1,177,308 29% 1,196,548 25% 1,161,310 25% Total Labor 245,684 6% 245,993 5% 257,280 6% Total Expenditures 3,768,801 4,121,703 4,037,672 92% 86% 88% Net Surplus $ 332,331 $ 644,420 $ 573,505 8% 14% 12%
REAL ESTATE 2016 ‐ 2017 2016 ‐ 2017 2017 ‐ 2018 SURPLUS/(DEFICIT) Approved Budget Forecast Budget Proposed Budget DESCRIPTION REAL ESTATE DEVELOPMENT Center for Training Technology & Incubation (92,490) (7,712) (3,860) Innovation Village 740,519 784,239 794,035 Spadra Farm ‐ ‐ ‐ Support for Lanterman Operations (500,000) (500,000) (500,000) Total Real Estate Development 148,029 276,527 290,175 RENTAL BUILDINGS Building 66 ‐ Classrooms & Offices 131,358 153,807 148,802 Building 97 ‐ Offices 130,638 139,767 137,643 CTTi Building 220A (149,632) (146,924) (167,352) Total Rental Buildings 112,364 146,650 119,093 FACULTY HOUSING Faculty Housing 71,938 221,243 164,237 Total Faculty Housing 71,938 221,243 164,237 REAL ESTATE TOTAL $ 332,331 $ 644,420 $ 573,505
2016 ‐ 2017 2016 ‐ 2017 2017 ‐ 2018 % 0f % 0f % 0f INVESTMENTS ‐ GENERAL Revenue Revenue Revenue Approved Budget Forecast Budget Proposed Budget Revenues Investment Earnings 918,560 1,891,864 1,225,539 100% 100% 100% Expenditures Investment Advisor Fees 87,476 100,310 99,320 10% 5% 8% Total Expenditures 87,476 100,310 99,320 10% 5% 8% Net Surplus $ 831,084 $ 1,791,554 $ 1,126,219 90% 95% 92%
INVESTMENTS ‐ 2016 ‐ 2017 2016 ‐ 2017 2017 ‐ 2018 % 0f % 0f % 0f Approved Budget Revenue Forecast Budget Revenue Proposed Budget Revenue ENDOWMENTS Revenues Investment Earnings 4,994,903 9,240,464 4,619,675 79% 98% 90% Donations 1,308,000 178,660 512,000 21% 2% 10% Total Revenue 6,302,903 9,419,124 5,131,675 100% 100% 100% Endowment Distributions ‐ 962,823 3,779,422 0% 10% 74% Expenditures Non ‐ Controllable Administrative Fees 444,785 7% 344,293 4% 430,335 8% Investment Advisor Fees 332,009 5% 162,270 2% 140,067 3% Total Expenditures Non ‐ Controllable 776,794 12% 506,563 5% 570,402 11% Total Expenditures 776,794 1,469,386 4,349,824 12% 16% 85% Net Surplus $ 5,526,109 88% $ 7,949,738 84% $ 781,851 15%
ENTERPRISES 2016 ‐ 2017 2016 ‐ 2017 2017 ‐ 2018 % 0f % 0f % 0f Revenue Revenue Revenue Approved Budget Forecast Budget Proposed Budget Revenues 41,843,406 100% 42,209,621 100% 43,163,762 100% Cost of Goods Sold 13,548,761 13,672,738 13,620,292 32% 32% 32% Gross Margin 28,294,645 68% 28,536,883 68% 29,543,470 68% Expenditures Controllable 5,667,153 5,568,908 5,675,285 14% 13% 13% Expenditures Non ‐ Controllable 8,482,726 8,385,939 8,349,103 20% 20% 19% Total Labor 10,728,262 10,683,768 11,356,446 26% 25% 26% Total Expenditures 24,878,141 59% 24,638,615 58% 25,380,834 59% Net Surplus $ 3,416,504 8% $ 3,898,268 9% $ 4,162,636 10%
2016 ‐ 2017 2016 ‐ 2017 2017 ‐ 2018 % 0f % 0f % 0f Approved Budget Revenue Forecast Budget Revenue Proposed Budget Revenue Revenues 9,310,080 9,660,080 9,696,620 100% 100% 100% Cost of Goods Sold 6,440,446 6,897,880 6,651,172 69% 71% 69% Gross Margin 2,869,634 2,762,200 3,045,448 31% 29% 31% Expenditures Controllable 290,313 259,049 303,738 3% 3% 3% Expenditures Non ‐ Controllable 896,147 955,361 910,835 10% 10% 9% Total Labor 1,390,376 1,277,221 1,404,709 15% 13% 14% Total Expenditures 2,576,836 2,491,631 2,619,282 28% 26% 27% Net Surplus $ 292,798 $ 270,569 $ 426,166 3% 3% 4%
2016 ‐ 2017 2016 ‐ 2017 2017 ‐ 2018 % 0f % 0f % 0f Revenue Revenue Revenue Approved Budget Forecast Budget Proposed Budget Revenues 20,816,304 21,073,833 21,549,518 100% 100% 100% Cost of Goods Sold 7,108,315 6,774,858 6,969,120 34% 32% 32% Gross Margin 13,707,989 14,298,975 14,580,398 66% 68% 68% Expenditures Controllable 2,402,564 2,566,297 2,467,421 12% 12% 11% Expenditures Non ‐ Controllable 3,410,933 3,443,761 3,372,408 16% 16% 16% Total Labor 7,123,474 7,176,957 7,609,502 34% 34% 35% Total Expenditures 12,936,971 13,187,015 13,449,331 62% 63% 62% Net Surplus $ 771,018 4% $ 1,111,960 5% $ 1,131,067 5%
2016 ‐ 2017 2016 ‐ 2017 2017 ‐ 2018 % 0f % 0f % 0f Revenue Revenue Revenue Approved Budget Forecast Budget Proposed Budget Revenues 1,648,756 1,745,230 1,693,185 100% 100% 100% Expenditures Controllable 779,526 680,335 745,390 47% 39% 44% Expenditures Non ‐ Controllable 173,804 173,582 168,928 11% 10% 10% Total Labor 678,474 717,590 728,130 41% 41% 43% Total Expenditures 1,631,804 1,571,507 1,642,448 99% 90% 97% Net Surplus $ 16,952 $ 173,723 $ 50,737 1% 10% 3%
2016 ‐ 2017 2016 ‐ 2017 2017 ‐ 2018 % 0f % 0f % 0f Approved Budget Revenue Forecast Budget Revenue Proposed Budget Revenue Revenues 10,068,266 9,730,478 10,224,439 100% 100% 100% Expenditures Controllable 2,194,750 2,063,227 2,158,736 22% 21% 21% Expenditures Non ‐ Controllable 4,001,842 3,813,235 3,896,932 40% 39% 38% Total Labor 1,535,938 1,512,000 1,614,105 15% 16% 16% Total Expenditures 7,732,530 7,388,462 7,669,773 77% 76% 75% Net Surplus $ 2,335,736 23% $ 2,342,016 24% $ 2,554,666 25%
CONTINUING 2016 ‐ 2017 2016 ‐ 2017 2017 ‐ 2018 % 0f % 0f % 0f Approved Budget Revenue Forecast Budget Revenue Proposed Budget Revenue EDUCATION Revenues 6,967,988 4,346,298 4,469,434 100% 100% 100% Expenditures Controllable 2,555,699 1,281,676 1,338,447 37% 29% 30% Expenditures Non ‐ Controllable 733,890 329,647 341,935 11% 8% 8% Total Labor 3,363,318 2,409,885 2,644,032 48% 55% 59% Total Expenditures 6,652,907 4,021,208 4,324,414 95% 93% 97% Net Surplus $ 315,081 $ 325,090 $ 145,020 5% 7% 3%
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