FINANCIAL FACTS. May 2016

Transcription

1 FINANCIAL FACTS May 2016

2 In This Month s Issue... Financial and Employment Services Focus Group Mee ng Focus Group Mee ng Agenda Year-End Closing for Fiscal Year Purchase Order Requests Purchasing Cards Unaudited Financial Statement Highlights: March 2016 Wireless Credit Card Terminals Available Through the Founda on 2

3 Foundation Financial and Employment Services Focus Group Meeting Thursday, June 9, :00 a.m. 11:00 a.m. Kellogg West Auditorium This mee ng is for individuals responsible for Founda on accounts. The emphasis will be on improving communica ons and account holders understanding of policies and procedures as well as providing a forum to exchange ideas. We will discuss the following topics: Webforms Budget & Forecast Highlights Purchasing Card Year-End Deadlines Outstanding Purchasing Orders Accounts Receivable Updates Payment of S pends from Grant/Contract Projects Par cipant Support Meals Costs One Card Updates Chip & Pin Analy cs Background Checks and Livescan Checks Updates/Policy Changes Kronos Upgrade/Kronos Mobile Observa ons from Two Audits Following will be an open forum for any ques ons, comments, and sugges ons. We hope you have the opportunity to par cipate as we plan to discuss numerous ideas. Light refreshments will be provided. Please RSVP to Debra Poe at drpoe@cpp.edu. 3

4 Focus Group Meeting Agenda PRESENTER SUBJECT TIME DAVID PRENOVOST Senior Managing Director/CFO Webforms Budget & Forecast Highlights 9:00 PAULINE ANONGDETH General Business Manager Purchasing Card, Year-End Deadlines Outstanding Purchasing Orders 9:30 JASON DEBELLIS Accounts Specialist Accounts Receivable Updates 9:45 DEBBIE SCHROEDER-LINTHICUM Grants and Contracts Manager Payment of S pends from Grant/Contract Projects Par cipant Support Meals Costs 10:00 RANDY TOWNSEND Informa on Technology Director One Card Updates Chip & Pin Analy cs 10:15 DENNIS MILLER Chief Employment Officer/ Managing Director Background Checks and Livescan Checks Updates/Policy Changes Kronos Upgrade/Kronos Mobile Observa ons from Two Audits 10:30 QUESTIONS AND COMMENTS 4

5 Year-End Closing for Fiscal Year As we approach June 30, our fiscal year-end, we would like to remind you to forward any vendor invoices with disbursement vouchers to Founda on Financial Services as soon as possible a er receipt. It is very important that all expenses are booked in the year to which they apply. Disbursement vouchers, IDTs, cash receipts, request for invoices, journal entries, spreadsheets, and adjustments are due to Founda on on Thursday, July 7 by 5:00 p.m. For Grant and Contract projects, all disbursement vouchers and other related payment documents for supplies/equipment items purchased and received, all services performed, and all travel incurred during the period July 1, 2015 through June 30, 2016 are due to Founda on no later than Tuesday, July 5 by 5:00 p.m. Purchase Order Requests All Purchase Order Requests should be submi ed to Founda on Accounts Payable no later than noon, Thursday, June 23, Purchasing Cards Purchasing card transac ons for the June billing cycle (May 10, 2016 to June 9, 2016), which ends on June 9, 2016, will be processed for Fiscal Year 2015/2016. Purchases not posted on your purchasing card by June 9, 2016 will be processed for Fiscal Year. This meframe allows for processing and Founda on approvals. Should you have any ques ons, please contact Pauline Anongdeth at ext

6 Unaudited Financial Statement Highlights: March 2016 EXECUTIVE SUMMARY The purpose of this ar cle is to provide informa on related to the unaudited financial performance of the Founda on for the month of March The Founda on generated a monthly surplus greater than budgeted mainly due to unrealized/realized gains from endowment and general investments and opera ons of real estate development, dining services, and bookstore. ENTERPRISES Summary For the month ended, the enterprise opera ons generated a surplus greater than budgeted mainly due to Dining, Bookstore, and Housing opera ons outperforming. Bronco Bookstore Revenues exceed budget by 84% or $693,826 largely due to hardware sales, new, used and rentals of text book sales. Cost of goods is 73% versus 70%; payroll and expenditures are 16% versus 24% of revenues. We appreciate the University s support and the President s request that what you spend on campus stays on campus. Dining Services Revenues exceed budget by 10% or $157,138. These revenues consist of 61% from retail and 39% from board opera ons; cost of goods sold is 32% versus 35% of budget, salaries and expenditures are 58% versus 63% budgeted. Retail revenues exceed budget by 21% or $182,877; cost of goods is 34% versus 36% of budget, salaries are 34% versus 41% of budget and expenditures are 25% versus 26% of budget genera ng a surplus of $70,871 versus a budgeted deficit of $33,939. Board opera on revenues are 96% or $25,739 short of budget; costs of goods are 31% versus 33% of budget, Enterprise Ac vi es Monthly Budget Monthly Actual Monthly Variance Y T D Budget Y T D Actual Bookstore 44, , , , ,878 Dining Services 36, , , , ,834 Kellogg West Conf. & Hotel 4,430 (29,303) (33,733) (11,832) 34,275 University Village Housing 299, ,761 55, ,725 1,267,674 Subtotal: 385, , ,696 1,416,965 1,827,661 General Ac vi es Founda on Administra on (571,218) (607,680) (36,462) (987,413) (434,510) Real Estate Development 3, , ,230 (7,978) 165,790 General Investments 143,883 1,082, , ,534 1,086,288 Building Rental 6,569 12,087 5,518 57,326 89,217 Subtotal: (417,514) 883,083 1,300,597 (10,531) 1,265,791 Designated Funds (102,463) (62,884) 39,579 (902,962) (609,637) Other Ac vi es Research Office 3,750 1,994 (1,756) 34,204 38,762 Agriculture (9,308) (62,906) (53,598) 157, ,758 Con nuing Educa on (39,481) 102, , , ,314 Fdtn Programs-Unrestricted 1 91,666 91, ,463 Subtotal: (45,038) 133, , ,710 1,257,297 Net Surplus/(Deficit) (179,017) 1,581,022 1,760,039 1,265,182 1,209,530 Unrestricted: Fdtn Programs-Restricted 168,632 89,904 (78,728) 1,911, ,355 Endowment Programs- 515,092 4,892,171 4,377,079 2,696,184 (6,586,531) Restricted Assets Transferred to 0 (18,056) (18,056) 0 (305,503) University Net Surplus/(Deficit) 683,724 4,964,019 4,280,295 4,607,740 (6,646,679) Restricted Net Surplus/(Deficit) Grand Total: 504,707 6,545,041 6,040,334 5,872,922 (5,437,149) 6

7 salaries are 26% versus 26% of budget and expenditures are 31% versus 30% of budget genera ng a surplus of $84,178 versus a budgeted surplus of $72,281. Kellogg West Catering/Dining Revenues exceed budget by 44% or $62,980, cost of goods is 20% versus 28%, salaries are 42% versus 57% and expenditures are 20% versus 27% of revenues genera ng a surplus of $35,347 versus a deficit of $17,442 budgeted. Kellogg West Conference Center & Hotel Revenues are 64% or $50,957 short of budget as hotel lodging was down from last year, salaries are 60% versus 39% and expenditures are 72% versus 58% of revenues genera ng a deficit of $29,302 vs $4,430 budgeted surplus. University Village Revenues are 98.7% or $12,807 short of budget and occupancy is at 96.6%, salaries and expenditures are 64% versus 70% of budget genera ng a surplus greater than budgeted. GENERAL ACTIVITIES General Ac vi es reported a surplus versus a budgeted deficit mainly due to unrealized gains in the General Investment Por olio and Real Estate ac vi es with respect to Lanterman Development Center where by the University was invoiced for the expenditures in excess of the budgeted amount of $500,000. DESIGNATED EXPENSES Designated Gi s generated a deficit less than budgeted. OTHER ACTIVITIES (presented year-to-date actual versus budget) Sponsored Research has generated a year-to-date surplus greater than budget due to year to date indirect revenues exceeding budget by 9.35% or $72,724 and direct grant expenditures short of budget by 0.35% or $29,258 genera ng an effec ve rate of 11.03% versus the budgeted rate of 11.5%. Agriculture-Aid-to-Instruc on yearto-date revenues exceed budget by 1.9% or $52,099 mainly due to dona ons of approximately $102,000 to the Wasmansdorff House at Pine Tree Ranch that was not budgeted and exceed prior year revenues by 16% or $396,611 even a er taking into considera on the dona on to the Wasmansdorff House at Pine Tree Ranch, costs of goods are 21% versus 16.8% of budget and payroll and expenditures are 74% versus 77% of budget genera ng a year to date surplus less than budgeted surplus by $49,104 due to Pine Tree Ranch and Farm Store offset by Agronomy Farm and Arabian Horse Center. Con nuing Educa on year-to-date revenues are 98% or $85,197 short of budget; payroll and expenditures are 81% versus 88% of budget mainly due to savings in adver sing, rent/commissions, services, supplies, travel, bank fees, salaries and benefits genera ng a year-to-date surplus greater than budgeted. Founda on Programs Unrestricted includes the ac vi es that are not third party donor imposed s pula ons. Yearto-date revenues exceed budget by 11% or $48,308; expenditures (excluding Transfers to the University # 7344) are 82% or $77,446 short of budget genera ng a year-to-date surplus versus a zero budget. Endowment/Investment unrealized/realized investment losses are $5.4 million, dona ons are 80% or $155,342 below budget; expenditures exceed budget by 157% or $60,064. Founda on Programs Restricted Revenues exceed budget by 8% or $558,007, expenditures exceed budget by 46% or $2.2 million. If you have any ques on or need addi onal informa on, please contact David Prenovost at dfprenovost@cpp.edu or call (909)

8 Wireless Credit Card Terminals Available Through the Foundation The Founda on has wireless terminals available for your special event. Process your credit card transac ons securely and efficiently from any loca on with full offsite POS mobility. Wireless Terminal Features Touchscreen interface Ergonomic compact lightweight design User friendly Two things required by the Founda on prior to loaning out the wireless terminal 1. Scheduling : ***Required 2 week no fica on prior to event*** Arrange pick-up date and me Arrange return date and me 2. Training : ***Required prior to opera on and obtaining possession of terminals*** Terminal s interface Annual PCI compliance video Please contact Chris ne He to reserve your event date and to schedule me prior to the event for training. Dhe@cpp.edu Phone: Rental fees will apply. If you are interested in purchasing a wireless terminal, please contact Debbie Chavez for more details at debrachavez@cpp.edu. ****Please note: The Founda on will no longer provide credit card imprinters and will not accept credit card imprinter slips for processing. If anyone has any credit card imprinter slips, please shred them to be in compliance with PCI standards. 8