Financial Update Faculty Associates, Inc. Board of Directors - PowerPoint PPT Presentation

The University of Florida College of Dentistry Financial Update Faculty Associates, Inc. Board of Directors Meeting August 19, 2019

June FY19 (unaudited) Summary Statement of Revenues and Expenditures Revenues Current FY Prior Year Difference Percent Actual Actual Variance Clinical $20,702,468 $19,869,315 $833,153 4.2% Revenue Ancillary $154,135 $160,135 ($6,001) (3.8%) Revenue Contract and $6,374,943 $7,474,350 ($1,099,408) (14.7%) GME Revenue Radiology $170,328 $174,745 ($4,417) (2.5%) Internal Revenue Interest $3,327 $3,416 ($89) (2.6%) Income Total $27,405,200 $27,681,962 ($276,761) (1.0%) Revenues

June FY19 (unaudited) Summary Statement of Revenues and Expenditures Expenditures Current FY Prior Year Difference Percent Actual Actual Variance Personnel $16,222,246 $14,825,581 $1,396,665 9.4% Expenses Other $8,102,516 $7,427,235 $675,282 9.1% Operating Expenses Administrative Overhead $877,740 $920,255 ($42,515) (4.6%) Total $25,202,502 $23,173,071 $2,029,432 8.8% Expenses

June FY19 (unaudited) Summary Statement of Revenues and Expenditures Current FY Prior Year Difference Percent Actual Actual Variance Change in Net $2,202,698 $4,508,891 ($2,306,193) (51.2%) Assets

Changes in Net Position As of June 30, 2019 300,000 200,000 100,000 0 (100,000) (200,000) (300,000) (400,000) (500,000) Community Endodontics Oral Oral Surgery Orthodontics Pediatric Periodontics Restorative Dentistry Dept Diagnostic Dept Dept Dentistry Dept Dept Dept Sciences Dept Dept Changes in Net Position (495,332) 121,821 253,526 22,615 10,436 (285,169) 28,072 175,960 8/18/19

Clinical Revenue Budget to Actual As of June 30, 2019 4,500,000 4,000,000 3,500,000 3,000,000 2,500,000 2,000,000 1,500,000 1,000,000 500,000 0 Community Clinic Endodontics Oral Oral Orthodontic Pediatric Periodontics Restorative Dentistry Admin Dept Diagnostic Surgery s Dept Dentistry Dept Dept Dept Sciences Dept Dept Dept Actual 3,770,452 1,796,308 1,026,998 2,220,970 3,906,209 1,054,831 2,021,336 1,156,958 4,115,962 Budget 4,387,446 2,146,745 1,007,645 2,078,205 3,888,345 1,226,016 2,604,260 1,062,448 3,292,574 8/18/19

AR Aging by Bucket ‐ EOM June (73% Less Than 90 Days Old) $3,000,000.00 $2,500,000.00 $2,000,000.00 $1,500,000.00 $1,000,000.00 $500,000.00 $‐ FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 0‐30 31‐60 61‐90 91‐120 Over 120

Projected Cost of 3% Increases by Fund Source (1% across the board, 2% merit) FY 20 October ‐ June Annual Cost 3% Increase Impact 3% Increase Impact AEF $ 336,284.90 AEF $ 448,379.87 ASHANDS $ 1,804.52 ASHANDS $ 2,406.03 Aux $ 70,454.81 Aux $ 93,939.75 Foundation $ 17,044.68 Foundation $ 22,726.25 Other (Instrument Leasing) $ 2,916.72 Other $ 3,888.96 Research $ 90,007.94 Research $ 120,010.59 State $ 443,292.05 State $ 591,056.06 Teacher Scholar $ 7,560.45 Teacher Scholar $ 10,080.60 Grand Total $ 969,366.08 Grand Total $ 1,292,488.11 Increase from $13 to $14/hour Impact Increase from $13 to $14/hour Impact AEF $ 62,572.26 AEF $ 83,429.67 Aux $ 3,501.66 Aux $ 4,668.89 State $ 23,845.30 State $ 31,793.73 Other (Instrument Leasing) $ 1,251.81 Other (Instrument Leasing) $ 1,669.08 Grand Total $ 91,171.02 Grand Total $ 121,561.36 Total College Responsibility $ 494,026.85 Total College Responsibility $ 658,702.46

Important Reminders • FY19 Audit On-site – August 19-23, 2019

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