The University of Memphis. October Analysis

Transcription

1 October Analysis

2 2019 October Budget Analysis Table of Contents Page Form 3 Summary by Unit - R & R and Contingency Allocation Computations 1 Form 4 (A) Center of Excellence Actual Form 4 (B) Center of Excellence October Budget Form 5 Basic Maintenance and Operation Expenditure Calculation 4 Form 6 Summary of Remedial, Developmental and Prescribed Courses 5 Form 7 Unrestricted and Restricted Athletics 6 Form 10 Unrestricted E&G Longevity Reporting 7 Form 12 TSSBA Debt Service Coverage 8 Form 12 (A) TSSBA Debt Service Coverage - Disclosure Projects Adjustment 9 Form 12 (B) TSSBA Debt Service Coverage - Required Representations 10 Form 13 Plant Fund Schedules I, II and III 11-17

3 FORM 3 Summary by Unit - R & R and Contingency Allocation Computations Actual Estimated Fund Balance Cost of Other Mandatory Non-Mandatory Ending Fund Bal July 1, 2018 Revenues Goods Sold Gross Margin Expenditures Transfers Transfers Profit/(Loss) June 30, 2019 Auxiliary Enterprises: University Service Court 8,459, , , , , ,400 (350,000) 8,109,719 Food Services 3,575,560 1,843,500-1,843,500 1,655, ,600-3,575,560 Student Housing 145,103 17,308,000-17,308,000 9,864,300 6,074,400 1,369, ,103 Copier Vending 2,267, , , ,500-20,000-2,267,131 Parking 19,030 4,554,800-4,554,800 2,322, ,000 1,407,200-19,030 Rental Properties - 953, , , , Total 14,466,543 25,768,500-25,768,500 15,407,700 7,101,400 3,609,400 (350,000) 14,116,543 Contingency Allocation: 5% of Revenue 1,288,425 Per Budget 1,288,500 Difference* (75) (Rounding up to next 100's) R & R Transfer: 5% of Gross Margin 1,288,425 Per Budget 2,914,500 Difference* (1,626,075) (Additional R&R in accordance with approved plan) * Any Difference Should Be Explained 1

4 FORM 4 (A) Centers of Excellence Actual FY State Other I. Restricted Revenues Appropriation Carry forward (Describe) Total Applied Psychology 864, ,046 1,118,846 Communication Disorders 404, , ,886 Earthquake Information 988, ,200 Egyptology 166,100 16, ,090 Teacher Education 412, , ,597 TOTAL 2,835, ,819-3,675,619 II. Restricted Expenditures Salaries Longevity Benefits Travel Operating Exp. Equipment Total Applied Psychology 354,318 19, ,510 99, , ,971 Communication Disorders 246,087 7, ,532 5,729 30, ,808 Earthquake Information 693,683 25, , ,200 Egyptology 113,357 6,200 42,577 18,134 2, ,090 Teacher Education 360,647 12, , , ,391 TOTAL 1,768,092 70, , , ,601-2,919,460 Unrestricted E &G Outside Source III. Matching Funds Organization Program Amount FOP Index Amount Total Applied Psychology , ,394 Communication Disorders , ,485 Earthquake Information , ,416 Egyptology , ,935 Teacher Education , /236500/ , , /236503/ , /236500/ ,400 TOTAL 2,290, ,771 2,414,536 2

5 FORM 4 (B) Centers of Excellence State Other I. Restricted Revenues Appropriation Carryforward (Describe) Total Applied Psychology 878, ,875 1,174,175 Communication Disorders 413, , ,278 Earthquake Information 1,013,500-1,013,500 Egyptology 169, ,800 Teacher Education 423, , ,206 TOTAL 2,897, ,159-3,653,959 II. Restricted Expenditures Salaries Longevity Benefits Travel Operating Exp. Equipment Total Applied Psychology 445,100 19, , , ,565-1,174,175 Communication Disorders 391,500 8, ,475 15,000 67, ,278 Earthquake Information 719,863 26, , ,013,500 Egyptology 116,200 6,800 41,867-4, ,800 Teacher Education 436,200 13, , , ,206 TOTAL 2,108,863 75, , , ,207-3,653,959 Unrestricted E &G Outside Source III. Matching Funds Organization Program Amount FOPA Index Amount Total Applied Psychology ,335,150-1,335,150 Communication Disorders , ,331 Earthquake Information , ,246 Egyptology , ,866 Teacher Education , /236500/ ,002 TOTAL 3,108,595-3,108,595 3

6 FORM 5 Basic Maintenance and Operation Expenditure Calculation Total M&O Expenditures 38,754,000 Less: E & G Utilities (9,085,700) Staff Benefits (7,444,700) Longevity (389,800) Plus: Extraordinary Maintenance Transfer 50,000 Net Basic M & O Expenditures 21,883,800 Basic M & O Funded Amount 8,326,900 Actual % of Funded Amount 262.8% THEC requested information: M&O Operating Expenses (Total expenses less salaries and benefits) 15,639,800 M&O Dept Revenues/Service Charges (in Operating - negative) (3,917,600) M&O Utilities Expense (in Operating) 9,085,700 M&O Salary Expense 15,682,000 M&O Benefit Expense 7,432,200 Total M & O Expenditures-E&G 38,754,000 4

7 FORM 6 Remedial, Developmental, and Prescribed Courses ACTUAL JULY OCTOBER Salaries: Administrative 17,275-21,065 Academic - 91,400 77,087 Supporting 33,758 31,828 3,250 Students 60,297 66,376 66,376 Professional 237, , ,858 Employee Benefits 171,425 79, ,381 Travel 1,590-1,000 Operating Expenses 489, , ,449 Capital Outlay Total Expense 1,011,465 1,051,130 1,473,466 5

8 FORM 7 Unrestricted and Restricted Athletics REVENUES: Actual July October Unrestricted Restricted Total Unrestricted Restricted Total Unrestricted Restricted Total 1 Student Athletic Fees 7,293,270-7,293,270 7,309,700-7,309,700 7,150,300-7,150,300 2 General Fund Support 12,611,730-12,611,730 1,111,041-1,111,041 6,113,181-6,113,181 3 Ticket Sales 10,500,440-10,500,440 11,595,000-11,595,000 11,400,000-11,400,000 4 Game Guarantees 16,500-16, , ,400 5 Conference Income 3,921, ,393 4,252,178 3,341,900-3,341,900 4,091,900-4,091,900 6 Conference Tournament NCAA Proceeds 1,000,857-1,000,857 1,100,000-1,100,000 1,000,000-1,000,000 8 Program Sales 1,080-1, Concessions TV / Radio Income Gifts 11,486, ,060 11,660,584 9,816, ,000 10,016,000 10,925, ,000 11,125, Interest Income Advertising / Mkting TSP 2,202,588-2,202,588 2,400,000-2,400,000 2,200,000-2,200, Parking Permits Revenues 778, , , , , , Licensing Fees 395, , , , , , Other (describe)* a Misc Commissions Earned b Post Season Revenue 233, , , , , ,000 16c Federal C.W.S.P. - 5,489 5, d Student Activity Fee Allocation e Other 589, , , , , , ,000 Total Revenues 51,031, ,638 51,718,167 39,463, ,000 39,663,641 46,216, ,000 46,416,781 Expenditures: 1 Administrative Salaries 3,620,818-3,620,818 3,568,982-3,568,982 3,424,793-3,424,793 2 Coaches Salaries 10,476,452 24,000 10,500,452 10,004,114-10,004,114 10,449,226-10,449,226 3 Support Staff Salaries 1,467,058 39,229 1,506,287 1,210,748-1,210,748 1,110,616-1,110,616 4 Employee Benefits 4,084,701 12,441 4,097,142 2,994,570-2,994,570 3,073,400-3,073,400 5 Team Travel 3,745,599 26,234 3,771,833 3,834,640-3,834,640 4,331,640-4,331,640 6 Other Travel 832,676 77, , , ,660 1,083,660-1,083,660 7 Out-of-State Performance-Based Scholarships 7,677, ,535 7,797,840 7,083,200-7,083,200 7,319,200-7,319,200 8 Other Scholarships 1,919,326 30,135 1,949,461 1,770,800-1,770,800 1,829,800-1,829,800 9 Post-Season Expense 588, , , , Other Operating 25,218, ,637 25,627,726 6,070,527-6,070,527 12,516,546-12,516, Capital Outlay 36,342-36, , , , , Transfers 225, ,838 1,067,400-1,067,400 1,077,900-1,077,900 Total Expenses 59,892, ,615 60,631,829 39,463, ,000 39,663,641 46,216, ,000 46,416,781 6

9 FORM 10 Unrestricted E&G Longevity Reporting Form ACTUAL OCTOBER Total Unrestricted E&G Longevity $ 2,586,436 $ 2,610,800 7

10 FORM 12 TSSBA Debt Service Coverage Actual Actual Revised Debit Service Amount 11,752,711 10,451,648 15,813,034 Unrestricted Revenue 387,287, ,934, ,407,600 Debt Service Coverage Footnote: Debt Service amounts include $3.2M estimated debt payments for the Parking Garage and Campus Recreation projects even though those payments will not begin until Spring 2019 and Spring

11 FORM 12 (A) TSSBA Debt Service Coverage - Disclosed Projects Adjustment Revised Budget: Total Project Amt. Financed Est. Annual Est. Annual Project Name Budget by TSSBA Debt Service Related Fee Rev Student Recreation Facility Construction 30,000,000 10,000,000 a 750,000 3,600,000 b Land Bridge 18,000,000 18,000,000 1,350,000 1,400,000 b Parking Garage 18,600,000 18,600,000 1,402,985 4,754,000 Notes: Notes: Debt issue anticipated for the following projects: Student Recreation Facility in Summer 2020 Parking Garage in Summer 2019 a While this project is currently approved for TSSBA funding, we anticipate submitting a revised funding source for approval b Upon completion of the facilities, a portion of this fee may be reallocated upon Board approval to fund facilities operations 9

12 FORM 12 (B) October Budget FY TSSBA Debt Service Coverage - Required Representations TBR Policy 4:01:00:05, Consideration of University Budgets, requires that each institution with debt issued through TSSBA certify during each budget cycle their compliance with the following required representations. Required Representations. 1. To ensure compliance with the Agreement, during each budget cycle each Institution shall review all outstanding projects financed in whole or part by the Authority and submit a certification asserting the following: a The Institution has full power and authority to undertake or use each Project and to comply with all requirements of the Agreement entered into between the Board and the Authority; b All necessary approvals or authorizations by the State (or any agency, subdivision or sub-entity) with respect to each Project have been or will be obtained; c Construction, acquisition, renovation or improvement by the Institution (directly or indirectly) with respect to each Project shall be conducted pursuant to State law; d The Institution will proceed with due diligence towards completion of each Project, and will complete each Project with other funds available to the Institution if Authority funds are not sufficient to complete the Project; e The Institution will complete each Project free and clear of all liens and encumbrances; f. The Institution will neither (i) permit any encumbrance which affects the Board s ability to honor its commitments under the Agreement nor (ii) assign the Agreement or the Board s rights, title or interest in or to any Project; g The Institution will operate, maintain and keep, or cause the operation, maintenance and functioning of, the Project in good repair and condition, including the provision of and payment for necessary utilities and insurance coverage in accordance with State policy; h The Institution will comply with all laws, rules and regulations governing the Institution and each Project; i. The Institution will permit the Authority or its representatives to enter Projects during regular business hours for purpose of inspection; j. The Institution will take no action, nor will it fail to take any action, which would cause the Authority to violate any tax covenant with respect to any Project; all representations made by the Institution to the Board, whether or not contained in the Agreement, as to the use of Projects shall at all times be true, complete and correct; and the Institution will inform the Board in advance of any actual or potential change in use or ownership of any Project at the time such change is first known to or considered by the Institution; and k The Institution has provided to the Board System Office, Office of System wide Internal Audit, copies of any external or internal audits that address Deficiencies in Internal Controls, a Significant Deficiency, or a Material Weakness, all as defined in Statement on Auditing Standard 115, or an Instance of Non-Compliance Required to be Reported as defined in the December 2011 Revision of Government Auditing Standards as issued by the Comptroller General of the United States, Government Accountability Office. 10

13 Schedule I Analysis of Unexpended Plant Fund CHANGES TO UNEXPENDED FUND BALANCES UNEXPENDED FUND BALANCE ADDITIONS FUND BALANCE DEDUCTIONS Project BALANCE State Current Fund *Other Investment Other Other Balance Account Name June 30, 2018 Appropriations TSSBA Transfers Transfers Income (Footnote) Expenditures (Footnote) June 30, 2019 LAND PURCHASES Local Funds: Campus Additions 988, , ,000 a 351,885 c 470,000 1,568,302 Reserved Campus Additions 1,076,300 (1,026,300) d 50,000 TSSBA/GO: Land Acquisition Program 897, ,584 NEW CONSTRUCTION State Appropriations: Community Health Facility - State 2,568,803 2,568,803 j - Music Center State 28,788,075 1,442,000 27,346,075 TSSBA Student Recreation Facility Construction 59,220,172 6,804,000 52,416,172 Land Bridge and Parking Garage 30,911,004 21,991,000 8,920,004 Indoor Football Practice Facility 9,993,258 8,487,000 1,506,258 Local Funds: New Student Housing - Local 494, ,590 Community Health Facility - Local 23,093 2,000 25,093 Women's Softball Training - Gifts 38, ,761 General Parking Expansion 8,755 8,755 Student Recreation Facility Local Basketball Training Facility - Indoor Football Practice Fclty GIK - Surface Parking Expansion 351, ,885 c - Women's Softball Training Facility - Equipment 7,543 7,543 Music Center Match 2,755, ,000 2,617,682 Land Bridge Utilities 34,266 34, Land Bridge Local Fund 27,770 1,200,000 a 1,044, ,770 Music Center Gifts 8,172,238 f 409,000 7,763,238 West Hall Student Housing Rep.- Local MAJOR RENOVATIONS State Appropriations: Various Roof Replacements 1,232,056 1,194,000 38,056 Various Building HVAC Updates 2,527,448 2,525,000 2,448 Academic Buildings HVAC Corrections 1,085,799 1,085, Building Code and Safety Updates 272, ,000 52,108 Electric and Gas Utility Updates 487, , Building Envelope Repairs 540, , ,143 Roof Replacement ,499,540 2,800, ,540 Lighting Update State 3,637,703 1,819,000 1,818,703 Various Building HVAC Updates ,215,620 2,022,000 8,193,620 Safe and Security 160,000 (160,000) Accessibility (ADA) Adaptations III 193, , , ,713 Access and Security Updates 214, ,646 j - TSSBA: Energy Conservation 30,000 30,000 Local Funds: Railroad Pedestrian Improve - Local 3,224 3,224 j - Railroad Pedestrian Improve - Grants - Traffic and Circulation - Local 542, ,532 - Elevator Modernization - Lambuth 69,682 69,682 c - Lambuth Elevators and Classrooms - Lighting Upgrades Local 356, , Soccer Lights 500,000 d 500,000 - Campuswide Boilers and Hot Water Pipes Repair 4,510,000 4,510,000 - Campus Wide Building Envelope Repairs 3,500,000 1,050,000 2,450,000 Mynders Hall Roof Repair 350, ,000 a 350, ,000 Admin Bldg Transformer Replacement 140,000 e 70,000 70,000 McWherter Library Cooling Tower Replacement 250,000 e 125, ,000 Estimated 11

14 Schedule I Analysis of Unexpended Plant Fund CHANGES TO UNEXPENDED FUND BALANCES UNEXPENDED FUND BALANCE ADDITIONS FUND BALANCE DEDUCTIONS Project BALANCE State Current Fund *Other Investment Other Other Balance Account Name June 30, 2018 Appropriations TSSBA Transfers Transfers Income (Footnote) Expenditures (Footnote) June 30, 2019 SPECIAL PROJECTS State Appropriations: Drainage Corrections 1,166 1,166 Capital Projects Administrative Cost Allocation - Local Funds: ABC 113 Renovations & Furnishings 57,039 57,039 - Academic Initiatives 3,722,779 (3,722,779) - Adm 324 Carpet and Furniture 23,174 23,174 - Adv Manufacturng Research Lab Local 135, ,304 Bursar Student Welcome Center 90,000 90,000 - Campus Classroom Door Security 200, ,466 - Campus Signage Modernization CFA Museum HVAC Modifications 14,258 14,258 - Child Care Renovation 250,000 (250,000) - Classroom Improvement 274, ,000 7,101 Clement 120, 122 & 124 Renovation 4,019 10,100 14,119 Decommission Building 8 113, ,939 Defense Audit Building Upgrade 65,061 44,150 20,911 Defense Audit Remediation 332, , Deferred Maintenance - Phase III (FP) 30,631 30,631 Deferred Maintenance Phase III PP 707,932 10,500 62,295 c 326, ,727 Dining Pavilion 15,650 15,650 j - Emergency Operation Generator 65,640 65,640 c - Engineering Adm 102D BYOD Lab 47,226 47,226 - Engineering Admin 301&303 5,618 5,618 j - ES218 Active Learning Classroom 10,211 10,211 - ET 236 Student Design Lab 25,465 25,465 - Extraordinary Maintenance 623,167 50, ,000 50,167 Facility & Administrative Recovery 3,250,000 (3,250,000) - Facility Fee 1,269, ,000 d 97,884 c 1,195,000 1,053,374 Facility Fee Project 118, ,600 (881,000) d 92,203 Facility Fees - Lambuth 114, ,900 (356,100) d 80,939 Facility Fees - Lambuth(PP) 374, ,100 d 320, ,566 FCBE 127 Classroom Renovation 8,218 8,218 j - Finance Trading Lab 27,977 27,977 j - Football Pract Field Sod & Drainage Gender Neutral 30,000 30,000 - Health Center Lab 2nd Floor Reno 59,000 59,000 Highland Library Reno/Furnishings 250, ,000 - Hyde Hall Clean TN Energy Match Fund 23,566 23,566 Insurance Claim Projects 64,389 53, , Kronos Timekeeping Leave Manager 19,456 19,456 - Lambuth Epworth Demolition 23,837 23,837 c - Lambuth Facilities Projects 21, ,895 c 20, ,883 Lambuth HydeHall Rm21 Data Ctr HVAC 50,000 50,000 - Lambuth Monumental Sign 85,000 (85,000) Lambuth Parking Expansion 55,000 a 55,000 - Lambuth Quad Fountain 30,000 (30,000) Lambuth Wilder Chiller Replacement 110, ,376 c - LS 315 Lab Renovation 6,865 6,865 j - Mail Services Relocation - Major Maintenance 547, ,000 61,000 65,640 c 392, ,167 Manufacturing Research Lab Design 60,821 57,000 3,821 Master Plan Update 150, ,000 - McWherter Lib chiller Repl Local Match 127, ,916 - McWherter Library Maint Threshold 97,884 97,884 c McWherter Writing Center 5,835 5,835 j Estimated 12

15 Schedule I Analysis of Unexpended Plant Fund CHANGES TO UNEXPENDED FUND BALANCES UNEXPENDED FUND BALANCE ADDITIONS FUND BALANCE DEDUCTIONS Project BALANCE State Current Fund *Other Investment Other Other Balance Account Name June 30, 2018 Appropriations TSSBA Transfers Transfers Income (Footnote) Expenditures (Footnote) June 30, 2019 Panhellenic Bldg Int Stdy Renovation 150, ,000 Park Ave Camp Surplus Property 250, ,000 - Park Ave Campus Bldg Demolition Y16 14,233 14,233 - Park Ave Campus Getwell Entry Gate 4,925 4,925 - Park/Goodlett Entrance Sign March 8,367 8,367 j - Paving Repairs August ,000 36,000 - Local Funds: (Continued) Rifle Exhaust 3,000 3,000 - Roof Tile Maintenance 5,000 5,000 SC Boiler House/Robison Hall Asbestos Removal 1,128 1,128 - Smart Classrooms 174, ,171 SRFC Turnstile and Lobby 9,669 9,669 - Student Housing Roof and Brick Rep 262, ,332 j - UM Parking Expansion FY18 2,000,000 e 1,000,000 1,000,000 Unallocated Funds from Completed Projects Unallocated Local Funds 14,000 14,000 University Renovations 207, , , ,281 Utilities Fluctuation/Energy conservation 2,498, , ,000 b 1,678,832 Utility Meters Installation 24,778 24,778 - Wilder 12 Floor Renovation - Local 100, ,000 - Wilder 12th Floor Renovation 550, , Wilder Tower 10th Floor 323, ,300 d 250, ,000 Wilder Tower 1st&2nd Flr Recruit 350,000 d 350,000 - Wilder Tower 6&7th F Furniture 28,000 (28,000) - Zach Curlin Pkg Grg Light Pole Rep - Non-recurring State Law School HVAC Replacement 62,295 62,295 c - Estimated 13

16 Schedule I Analysis of Unexpended Plant Fund CHANGES TO UNEXPENDED FUND BALANCES UNEXPENDED FUND BALANCE ADDITIONS FUND BALANCE DEDUCTIONS Project BALANCE State Current Fund *Other Investment Other Other Balance Account Name June 30, 2018 Appropriations TSSBA Transfers Transfers Income (Footnote) Expenditures (Footnote) June 30, 2019 To be Approved by SBC Local Student Recreation Center Re-Roof and Pool HVAC Repairs 7,000,000 7,000,000 Student Housing Improvements (full-planning) 1,800,000 e 1,800,000 Athletic Fields Restrooms 125,000 e 125,000 Child Development Center 9,000,000 f 9,000,000 Research Start Up Improvements 1,500,000 h 1,500, Watauga Demolition 20,000 e 20,000 Engineering Student Service 1,000,000 f 1,000,000 Natatorium Facility Improvements 18,000,000 g 18,000,000 Park Avenue Housing 400 Beds 11,250,000 k 11,250,000 Parking Garage North 4,000,000 f 4,000,000 Soccer Facility 600,000 e 600,000 Park Avenue Physical Plant 1,000,000 e 1,000,000 Ellipse Plaza Development 11,315,000 f 11,315,000 Student Venture Hub 1,000,000 e 1,000,000 Library Services Improvements 1,200,000 e 1,200,000 FEC upgrades 1,500,000 e 1,500,000 Campus Police Renovation 700,000 e 700,000 Lambuth Wilder and Hamilton Roof 320,000 i 320,000 TOTAL 180,414,549 15,223,000 - (3,391,575) 2,132,000 77,250 75,673,837 69,497,012 4,699, ,932,915 Estimated Footnotes: a Transfer from Funds for Renewals and Replacements b Transfer to Funds for Retirement of Indebtedness c Re-budget locally funded projects residual balance to other locally funded projects within unexpended plant d Interfund transfers for locally funded projects e Local funds f Gifts g Local funds and gifts h Federal grants and local funds i Insurance proceeds j Re-budget locally funded projects' residual balance to other locally funded projects k TSSBA 14

17 Schedule II Analysis of Changes in Renewal and Replacement Funds Project ADDITIONS DEDUCTIONS Project Balance Current Fund Investment Other Other Balance ACCOUNT NAME June 30, 2018 Transfers Income Reallocation (Footnote) Expenditures Reallocation (Footnote) June 30, 2019 Academic Affairs Initiatives 2,300,000 (2,300,000) - Campus Recreation Intramural Sports 970,000 10, ,000 College of Education Initiatives 1,900,000 10,000 1,890,000 Collierville Center 51,165 10,000 41,165 Computer Services 42,000 3, ,000 10, ,575 Feinstone Center for Genomic Resrch - Copier Vending 71,383 20, ,000 10,342 f 72,001 Departmental Motor Vehicles 1,371, ,000 16, ,700 1,537,172 Fedex Institute of Technology 393, ,000 4, , ,582 Financial Systems Operations 100,000 10,000 90,000 Food Service 1,578,050 25,000 15,230 10,000 32,443 f 1,575,837 Food Service Lambuth 53,551 10,000 43,551 Food Vending 35,069 23,500 10,000 12,591 f 35,978 Info Systems Entp Resource Planning 194, , , ,719 Integrated Microscopy Center Equip 220,403 2,800 10, ,203 Investment Reserves 2,400,000 2,400,000 UC/Rose R&R - IT Network Refresh 539,720 (300,000) 300,000 c 500,000 39,720 Lambuth Initiatives & Improvements 1,700,000 10,000 1,690,000 Millington Operations 200,000 10, ,000 Network Services 2,400,004 (300,000) c 10,000 2,090,004 New RecCtr & Land Bridge Reserves 19,036,421 4,953,700 10,000 1,200,000 f 22,780,121 Parking 3,418,111 1,371,200 23,215 43, ,268 g 4,575,558 Physical Education Complex 903,305 10, ,000 i 761,305 PP Timekeeping System 655, ,306 Rental Properties Lambuth R&R

18 Schedule II Analysis of Changes in Renewal and Replacement Funds Project ADDITIONS DEDUCTIONS Project Balance Current Fund Investment Other Other Balance ACCOUNT NAME June 30, 2018 Transfers Income Reallocation (Footnote) Expenditures Reallocation (Footnote) June 30, Renewal and Replacement (Continued) - Reprographics 173,334 2,130 10, ,464 Residential And Commercial Rentals 152,557 54,400 2,010 10, ,967 Student Activities Complex 674,719 10, ,500 i 287,219 Student Housing 1,873,189 1,078,900 49, , ,773 h 1,816,276 Residence Life Reserves - Student Housing Lambuth 127,289 15, ,000 42,789 University Center Renovation 2,630 2, University Conference Center 734,748 7,170 26, , ,540 University Initiatives Improvements 10,532,400 (9,523,359) 10, ,041 University Service Court 898,704 36,600 10,000 18,183 f 907,121 - TOTAL 53,301,804 (6,043,892) 130,730-5,535,322 2,286,400-2,662,100 47,975,464 Footnotes: a. Equipment usage charges and proceeds on disposal b. Allocated for Renewals and Replacements requirements of the designated service department or auxiliary enterprise in accordance with an established renewals and replacements plan c. Interfund transfers d. Allocated for Renewals and Replacements in accordance with Tennessee Board of Regents Budget Requirement e. Transfer from Retirement of Indebtedness f. Transfer to Unexpended Plant Fund g. Transfer to Unexpended Plant Fund $ 173,268 Transfer to Retirement of Indebtedness 20,000 $ 193,268 h. Transfer to Unexpended Plant Fund $ 685,773 Transfer to Retirement of Indebtedness 600 $ 686,373 i. Transfers to Retirement of Indebtedness 16

19 Schedule III Analysis of Changes in Retirement of Indebtedness PROJECT ADDITIONS DEDUCTIONS Project BALANCE Current Fund Investment Other Other Balance ACCOUNT NAME June 30, 2018 Transfers Income Reallocation (Footnote) Principal Interest Reallocation (Footnote) June 30, 2019 TSSBA Projects: Carney-Johnston Dorm 195,000 89, ,800 2,881 a - Carpenter Complex Reno & Add 231, , , a - Centennial Place (New Student Housing) 2,797,934 3,202, ,616 2,392,155 1,000 a 2,797,463 Housing Sprinklers 201,300 85, ,899 7 a - Indoor Football Practice Facility 1,067, , , a - Living Learning Residence Complex 1,293, , ,200 1,943 a - Performance Contracting 285, ,000 b 388, ,302 10,792 a - Physical Education Building Reno/Add 538, ,000 c 486, ,848 1,124 a - Richardson & Rawls Fire Safety 234, ,884 99,006 23,110 a - Smith Dorm Fire Safety Upgrade 150, ,295 7,015 2,690 a - Student Activities Complex 700, ,000 20,000 c 959, , a - Student Activities Complex - $3.6M 125,000 5,000 12,500 c 91,158 51, a - Student Family Housing Addition 66, c 58,067 8, a - Student Housing Complex Building 368, ,925 46,289 4,286 a - University Center Renovation 2,085, ,000 c 1,466, , a - University Service Court 202, ,337 44,400 20,263 a - Community Health Facility - - Land Bridge and Parking Garage 20,000 20,000 c 36,000 4,000 a - Student Recreation Facility 40,000 10,000 30,000 a - Unallocated Debt Service Fees 8,241,700 (3,288,000) 4,953,700 d - GO Bond Projects: Land Acquisition Program 470,000 b 400,000 70,000 - TOTAL 2,797,934 16,563, ,320,100 6,742,404 6,083,645-5,058,122 2,797,463 Footnotes: a. Administrative fees b. Transfer from Unexpended Plant Fund c. Transfer from Renewals and Replacements d. Transfer to Fund for Renewals and Replacements 17