Executive Summaries and Actual and Budgeted Revenues, Expenses and Changes in Net Position. For the Quarter Ended September 30, 2017 (Unaudited)

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1 Executive Summaries and Actual and Budgeted Revenues, Expenses and Changes in Net Position For the Quarter Ended September 30, 2017 (Unaudited)

2 Arkansas Archeological Survey

3 ARKANSAS ARCHEOLOGICAL SURVEY For Quarter Ending September 30, 2017 Current Unrestricted Fund Statement of Budgeted and Actual Revenues and Expenditures For the Quarter Ending September 30, 2017 REVENUES STATE FUNDS State appropriations are 25.29% realized at 9/30/2017 with actual revenue of $624,635. OTHER INCOME Revenue in the amount of $6,349 is from sales of publications and user fees for AMASDA database. Revenue in the amount of $4,360 is from the spending distribution on the Hester A. Davis endowment. EXPENDITURES Total expenditures to date are 24.52% of annual budget. At 9/30/2017, expenditures are 3.38% less than total revenues received. George Sabo III Director

4 Arkansas Archeological Survey Actual and Budgeted Revenues, Expenses and Changes in Net Position For the Quarter Ending September 30, 2017 Page 1 of 2 Educational & General Auxiliary Other Total Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized OPERATING REVENUE Student tuition & fees Patient services Federal and county appropriations Grants and contracts 100,000 12, % 100,000 12, % Sales/services of educational departments Insurance plan Auxiliary enterprises: Athletics Housing/food service Bookstore Other auxiliary enterprises Other operating revenues 33,591 10, % 33,591 10, % TOTAL OPERATING REVENUES 33,591 10, % 100,000 12, % 133,591 23, % OPERATING EXPENSES Compensation & benefits 2,257, , % 75,000 37, % 2,332, , % Supplies & services 245,989 52, % 25,000 3, % 270,989 56, % Scholarships & fellowships Insurance plan Depreciation Contingency TOTAL OPERATING EXPENSES 2,503, , % 100,000 41, % 2,603, , % OPERATING LOSS (2,469,835) (603,172) 24.4% - (28,366) (2,469,835) (631,538) 25.6%

5 Arkansas Archeological Survey Actual and Budgeted Revenues, Expenses and Changes in Net Position For the Quarter Ending September 30, 2017 Page 2 of 2 Educational & General Auxiliary Other Total Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized NON-OPERATING REVENUES (EXPENSES) State appropriations 2,469, , % 2,469, , % Property & sales tax Grants Gifts Investment income Interest on capital asset-related debt Other - GIF NET NON-OPERATING REVENUES 2,469, , % - - 2,469, , % INCOME (LOSS) BEFORE OTHER REV/E - 21,463 - (28,366) - (6,903) OTHER CHANGES IN NET ASSETS Capital appropriations Capital gifts and grants Other TOTAL OTHER CHANGES TRANSFERS IN (OUT) Debt Service Other TOTAL TRANSFERS IN (OUT) INCREASE IN NET POSITION - 21,463 (28,366) - (6,903)

6 Criminal Justice Institute

7 CRIMINAL JUSTICE INSTITUTE EXECUTIVE SUMMARY Statement of Budgeted and Actual Revenue and Expenditures For the Three Months Ending September 30, 2017 (Unaudited) Materiality Defined: Materiality is defined as a variance of 5% or more or a minimum of $50,000 of any item from the original budgeted amount. Revenues: Unrestricted state revenues realized through the first quarter of FY 2018 were $469,386 which is 25.7% of the annual appropriation. State Revenues are requested and received by the University of Arkansas at Fayetteville monthly based on projections of need calculated at the UAF campus. Other Revenues received through the first quarter of FY 2018 included Indirect Costs Recovery from Federal and State grants of $88,750. The Criminal Justice Institute received $100,000 from the Arkansas Governor s Office for Law Enforcement Subscription Assistance, Online Course Development, the Drug Endangered Children s Project, and Statewide Child Abduction Response Team Certification classes. Budget Allocations: Adjustments in the Compensation and Benefits and the Supplies and Services categories were the result of concurrent employment contract instructor fees originally budgeted as Supplies and Services. Dr. Cheryl P. May Director

8 CRIMINAL JUSTICE INSTITUTE Actual and Budgeted Revenues, Expenses and Changes in Net Position For the Quarter Ending September 30, 2017 Educational & General Auxiliary Other Other Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized OPERATING REVENUE Student tuition & fees 10,000 2, % 10,000 2, % Patient services Federal and county appropriations Grants and contracts Sales/services of educational departments Insurance plan Auxiliary enterprises: Athletics Housing/food service Bookstore Other auxiliary enterprises Other operating revenues TOTAL OPERATING REVENUES 10,000 2, % ,000 2, % OPERATING EXPENSES Compensation & benefits 1,441, , % 896, , % 2,338, , % Supplies & services 1,073, , % 1,478, , % 2,551, , % Indirect Costs--State and Federal Grants 237,168 88, % 237,168 88, % Insurance plan Depreciation Contingency TOTAL OPERATING EXPENSES 2,515, , % - - 2,612, , % 5,127,949 1,018, % OPERATING LOSS (2,505,354) (507,223) 20.2% - - (2,612,595) (508,876) 19.5% (5,117,949) (1,016,099) 19.9%

9 CRIMINAL JUSTICE INSTITUTE Actual and Budgeted Revenues, Expenses and Changes in Net Position For the Quarter Ending September 30, 2017 Educational & General Auxiliary Other Other Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized NON-OPERATING REVENUES (EXPENSES) State appropriations 1,825, , % 1,825, , % Special State Assets Forfeiture Fund 150, , % 150, , % Grants 2,314, , % 2,314, , % Funds from Governor's Office 100, , % 100, , % Indirect Costs--State and Federal Grants 237,168 88, % 237,168 88, % Investment income Interest on capital asset-related debt Other NET NON-OPERATING REVENUES 2,212, , % - - 2,414, , % 4,626,957 1,259, % INCOME (LOSS) BEFORE OTHER REV/EXP (292,417) 200, % - - (198,575) 42, % (490,992) 243, % OTHER CHANGES IN NET ASSETS Capital appropriations Capital gifts and grants Other TOTAL OTHER CHANGES TRANSFERS IN (OUT) Debt Service Transfer from Plant Fund 302, % (302,417) 0.0% - TOTAL TRANSFERS IN (OUT) 302, % - - (302,417) - 0.0% 0 - INCREASE IN NET POSITION 10, , % - - (500,992) 42, % (490,992) 243, %

10 Division of Agriculture

11 UNIVERSITY OF ARKANSAS DIVISION OF AGRICULTURE EXECUTIVE SUMMARY Actual and Budgeted Revenues, Expenses and Changes in Net Position For the Quarter Ending September 30, 2017 Revenues: State Appropriations: The Educational and General State Appropriations budget consists of general revenue funded through the Revenue Stabilization Act (RSA) and the Educational Excellence Trust Fund Act (EETF). The Other State Appropriations budget consists of Tobacco Settlement funds allocated to the Division to fund the Arkansas Biosciences Institute (ABI). Federal Appropriations: This category consists of funds from US Department of Agriculture National Institute of Food and Agriculture (USDA NIFA) provided through the federal formula and are considered part of the base support for the Division of Agriculture. These funds are drawn down on a reimbursable basis. County Appropriations: This category consists of quarterly payments made by county governments based upon their agreement to fund a portion of the Cooperative Extension Service county program cost for each county operation. Sales/Services: This category consists of revenue from educational and research activities, including the sale of foundation seed to seed producers, crop and cattle sales, royalties, investments, and programmatic activity in each county depository account. Variance Explanations: Budgeted and Actual Revenue: With the exception of Grants and Contracts, Operating Revenue realized was substantially on schedule. Most grant revenue is not recognized until expenses have been incurred and are reimbursed a little later in the year. Federal Appropriations are a little lower due to the timing of the draw down of the funds. The Tobacco Settlement funds are received in one lump sum during the first quarter of the year and were slightly higher than anticipated accounting for 103% of the Other State Appropriations budget being realized. This together with strong receipts from Gifts and Investments account for the 54.5% of budget realized in the Other category of Non-Operating Revenues.

12 UNIVERSITY OF ARKANSAS DIVISION OF AGRICULTURE EXECUTIVE SUMMARY Budgeted and Actual Expenditures: Operating Expenses in the E&G category were substantially as predicted. The 80% of Budget Realized on the Operating Loss line in the Other Category will even out in future reporting periods as Grants revenue is realized from expenditures being submitted for reimbursement. Transfers In (Out) Other Capital Acquisitions were higher than anticipated due to the timing of the purchase of several replacement vehicles and transfers for the Soils Testing Lab and equipment. Mark Cochran Vice President for Agriculture

13 University of Arkansas Division of Agriculture Actual and Budgeted Revenues, Expenses and Changes in Net Position For the Quarter Ending September 30, 2017 Educational & General Auxiliary Other Total Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized OPERATING REVENUE Federal and county appropriations ,083,073 3,314, % 17,083,073 3,314, % Grants and contracts ,132,437 3,608, % 29,132,437 3,608, % Sales/services of educational departments 11,507,105 3,332, % ,507,105 3,332, % Other operating revenues TOTAL OPERATING REVENUES 11,507,105 3,332, % ,215,510 6,922, % 57,722,615 10,255, % OPERATING EXPENSES Compensation & benefits 66,051,178 16,202, % 27,040,034 6,506, % 93,091,212 22,709, % Supplies & services 14,590,917 3,914, % 19,477,808 3,947, % 34,068,725 7,862, % Scholarships & fellowships 10,877 4, % 285,102 45, % 295,979 49, % Depreciation - - 5,616,709 1,404, % 5,616,709 1,404, % Contingency 174, % , % TOTAL OPERATING EXPENSES 80,827,604 20,121, % ,419,653 11,903, % 133,247,257 32,024, % OPERATING LOSS (69,320,499) (16,788,602) 24.2% - - (6,204,143) (4,981,028) 80.3% (75,524,642) (21,769,630) 28.8% NON-OPERATING REVENUES (EXPENSES) State appropriations 68,749,240 17,332, % 1,549,481 1,597, % 70,298,721 18,930, % Grants Gifts 400,000 54, % 3,680,000 1,290, % 4,080,000 1,345, % Investment income 312,000 97, % 180,000 61, % 492, , % Other-Garvan Gardens (160,000) (36,491) 22.8% - - (160,000) (36,491) 22.8% NET NON-OPERATING REVENUES 69,301,240 17,448, % - - 5,409,481 2,948, % 74,710,721 20,397, % INCOME (LOSS) BEFORE OTHER REV/EXP (19,259) 659, (794,662) (2,032,081) (813,921) (1,372,474) 168.6% OTHER CHANGES IN NET ASSETS Capital appropriations Capital gifts and grants Other-Loss on Disposal of Capital Assets (4,419) - (4,419) TOTAL OTHER CHANGES (4,419) - (4,419) TRANSFERS IN (OUT) Debt Service Other - Capital (2,438,622) (861,207) 35.3% 2,438, , % - - Other - Indirect Cost Recovery 1,700, , % (1,700,000) (291,324) 17.1% - - TOTAL TRANSFERS IN (OUT) (738,622) (569,883) 77.2% , , % - - INCREASE IN NET POSITION (757,881) 89, % - - (56,040) (1,466,617) % (813,921) (1,376,893) 169.2%

14 University of Arkansas, Fayetteville

15 University of Arkansas Fayetteville Campus Executive Summary For the Quarter Ending September 30, 2017 The University of Arkansas, Fayetteville financial data reports for the Quarter ending September 30, 2017 are attached in the formats requested. These reports are prepared on a modified accrual basis of accounting. Educational & General The amount of actual tuition and fees revenues are generally in line with expectations for the fall semester. Enrollment increased 1.3 percent for the fall 2017 semester, setting a new campus record of 27,558 students. Amounts reported for scholarships & fellowships are influenced by the scholarship allowance calculation under GASB. The allowance varies quarter to quarter primarily as a result of the type and timing of aid applied. We expect that scholarship & fellowships will adjust to near 100% of the budget during the fourth quarter when the majority of student refunds generated are a result of federal student loans. These refunds will affect the scholarship allowance calculation by reducing the percentage of refunds to be applied as student aid expense and accordingly will result in a reduction of the scholarship allowance and an increase in scholarship expense. The E&G debt service transfers reflects the fact that scheduled payments are made in the 2 nd and 4 th Quarters. Auxiliaries The variance reflected in the revenues for Housing/Food service is due to revenue being recognized as a percentage of full-year housing contract. 1 st Quarter revenue is a partial month for August and September only. The Auxiliary debt service transfers reflects the fact that scheduled payments for Athletics are made in the 1 st and 3 rd Quarters. Housing/food service revenues reflects a change in the recognition of revenues for services rendered by Chartwells after an Internal Audit conducted a review of Housing Auxiliary Enterprises. It was determined that revenues should be recognized for the meal plans paid by the students and the supplies and services expense recognized for the payments to Chartwells. Previously the funds collected were simply passed through to Chartwells with no revenue or expense recorded in our General Ledger. It was also determined that Resident Assistants waived room and board charges should be reported as revenue and scholarship expense. These changes account for the increases in the % of budget realized in Auxiliary revenues and expenses. Joseph E. Steinmetz Chancellor

16 University of Arkansas, Fayetteville Actual and Budgeted Revenues, Expenses and Changes in Net Position For the Quarter Ending September 30, 2017 Educational & General Auxiliary Other Total Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized OPERATING REVENUE Student tuition & fees 289,755, ,603, % 11,982,795 4,970, % 301,738, ,573, % (41,929,035) (22,515,892) (41,929,035) (22,515,892) 53.7% (28,299,486) (15,196,824) (28,299,486) (15,196,824) 53.7% Patient services Federal and county appropriations Grants and contracts 63,894,571 13,367, % 63,894,571 13,367, % Sales/services of educational departments 6,262,667 1,914, % 6,262,667 1,914, % Insurance plan Auxiliary enterprises: Athletics 104,782,690 38,279, % 104,782,690 38,279, % Housing/food service 67,238,747 19,148, % 67,238,747 19,148, % (6,980,794) (1,985,526) (6,980,794) (1,985,526) 28.4% (4,711,601) (1,342,806) (4,711,601) (1,342,806) 28.5% Bookstore 11,238,827 5,024, % 11,238,827 5,024, % (82,260) (36,770) (82,260) (36,770) 44.7% (55,521) (24,818) (55,521) (24,818) 44.7% Other auxiliary enterprises 12,099,259 5,882, % 12,099,259 5,882, % Other operating revenues 20,844,066 4,693, % 500, , % 21,344,066 4,820, % TOTAL OPERATING REVENUES 246,634, ,497, ,512,142 69,916,313 64,394,571 13,494, ,540, ,908, % OPERATING EXPENSES Compensation & benefits 307,484,801 70,827, % 54,255,174 12,449, % 64,849,295 15,288, % 426,589,270 98,565, % Supplies & services 61,273,234 20,870, % 89,923,195 23,086, % 46,078,526 19,057, % 197,274,955 63,013, % Scholarships & fellowships 6,953, , % 7,726,574 6,830, % 5,481,981 3,783, % 20,162,377 11,593, % Insurance plan Depreciation 68,126,985 17,031, % 68,126,985 17,031, % Contingency 13,828,201 13,828,201 TOTAL OPERATING EXPENSES 389,540,058 92,676, ,904,943 42,367, ,536,787 55,160, ,981, ,204, % OPERATING LOSS (142,905,978) 31,821,011 43,607,199 27,549,122 (120,142,216) (41,665,629) (219,440,995) 17,704, %

17 University of Arkansas, Fayetteville Actual and Budgeted Revenues, Expenses and Changes in Net Position For the Quarter Ending September 30, 2017 Educational & General Auxiliary Other Total Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized NON-OPERATING REVENUES (EXPENSES) State appropriations 128,007,419 32,862, % 1,600,000 2,107, % 129,607,419 34,970, % Property & sales tax Grants 51,181,000 10,310, % 51,181,000 10,310, % Gifts 64,792,534 13,460, % 64,792,534 13,460, % Investment income 1,500,000 1,634, % 4,525,000 2,194, % 6,025,000 3,829, % Interest on capital asset-related debt (27,658,130) 2,779, % (27,658,130) 2,779, % Other 800, , % 3, , , % NET NON-OPERATING REVENUES 130,307,419 34,667, ,440,404 30,855, ,747,823 65,523, % INCOME (LOSS) BEFORE OTHER REV/EXP (12,598,559) 66,488,602 43,607,199 27,549,122 (25,701,812) (10,809,715) 5,306,828 83,228, % OTHER CHANGES IN NET ASSETS Capital appropriations Capital gifts and grants 14,746,864 50, % 14,746,864 50, % Other TOTAL OTHER CHANGES ,746,864 50,070 14,746,864 50, % TRANSFERS IN (OUT) Debt Service (29,954,747) (1,063,383) 3.5% (31,613,556) (9,448,392) 29.9% 61,568,303 10,511, % - - Other 42,553,306 25,238, % (11,993,643) 984, % (30,559,663) (26,222,988) 85.8% - - TOTAL TRANSFERS IN (OUT) 12,598,559 24,175,218 (43,607,199) (8,464,005) 31,008,640 (15,711,213) - - INCREASE IN NET POSITION - 90,663,820-19,085,117 20,053,692 (26,470,858) 20,053,692 83,278, %

18 University of Arkansas at Fort Smith

19 UNIVERSITY OF ARKANSAS FORT SMITH For Quarter Ending September 30, 2017 EXECUTIVE SUMMARY The University of Arkansas - Fort Smith s Educational & General unrestricted current fund revenues exceeded expenditures by $10,679,529 through the first quarter of FY18. Auxiliary unrestricted current fund revenues exceeded expenditures by $3,757,287 through the first quarter of FY18, and other operating fund revenues were less expenditures by ($4,695,627) through the first quarter of FY18. For the total of all funds, revenues exceeded expenditures by a total of $9,741,189. Education and General Other operating revenues are high due to late payment fees. Compensation & benefits is low from unfilled job vacancies. Scholarships & fellowships lag behind due to concurrent scholarships not recorded in the first quarter, but will be recorded in the second quarter. Property and sales tax are low because receipts of sales tax revenue lag behind. Investment income changes due to market fluctuations. Debt service is low due to payments being scheduled for various months throughout the fiscal year and the timing of the payments. Transfers-others are not yet made for the fiscal year. Auxiliary Grants and contracts are high because the majority of these are received in the first quarter. Bookstore revenues lag behind and are expected in the second quarter. Other auxiliary enterprises revenues represent yearly parking permits purchased. Scholarships & fellowships expenditures are less than expected due to reduction of scholarships awarded. Page 1

20 UNIVERSITY OF ARKANSAS FORT SMITH For Quarter Ending September 30, 2017 EXECUTIVE SUMMARY Debt Service shortage is from payments scheduled for various months throughout the year and the timing of the payments. Other represent transfers not yet made for the year. Other Athletics new program was added and budget will be added in second quarter. Other operating revenues are from unanticipated, sporadic income. Compensation & benefits is from unfilled job vacancies related to grants. Scholarships & fellowships expenditures are higher than expected. Investment income loss in the first quarter and should gain back later in the year. Interest on capital asset-related debt is due to debt service interest payments being scheduled for various months throughout the physical year and the timing of the payments. Debt service due to debt service interest payments being scheduled for various months throughout the fiscal year. Transfers-others not yet made for the fiscal year. Paul B. Beran, PhD Chancellor Page 2

21 University of Arkansas - Fort Smith Actual and Budgeted Revenues, Expenses and Changes in Net Position For the Quarter Ending September 30, 2017 Educational & General Auxiliary Other Total Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget as of End of Q1 Year-to-Date Realized as of End of Q1 Year-to-Date Realized as of End of Q1 Year-to-Date Realized as of End of Q1 Year-to-Date Realized OPERATING REVENUE Student tuition & fees 34,412,224 17,543, % 4,701,632 2,516, % 39,113,856 20,060, % (3,803,566) (1,727,867) 45.4% (633,497) (351,926) 55.6% (4,437,063) (2,079,793) 46.9% (17,327,355) (7,871,392) 45.4% (17,327,355) (7,871,392) 45.4% Patient services Federal and county appropriations Grants and contracts 408, % 85,500 56, % 6,958, , % 7,452, , % Sales/services of educational departments 294,010 34, % 18,000 2, % 312,010 36, % Insurance plan Auxiliary enterprises: Athletics 97,400 40, % - 6,815 97,400 47, % Housing/food service 5,536,750 2,824, % 5,536,750 2,824, % (396,082) (172,726) 43.6% (396,082) (172,726) 43.6% (2,063,607) (994,537) 48.2% (2,063,607) (994,537) 48.2% Bookstore 387, % 387,000 Other auxiliary enterprises 531, , % 531, , % (250,000) (139,209) 55.7% (250,000) (139,209) 55.7% Other operating revenues 350, , % , , % TOTAL OPERATING REVENUES 31,661,673 16,103, % 10,310,653 5,310, % (12,664,937) (8,496,792) 67.1% 29,307,389 12,917, % OPERATING EXPENSES Compensation & benefits 41,896,829 7,583, % 2,185, , % 3,205, , % 47,288,566 8,598, % Supplies & services 13,178,744 3,687, % 4,989, , % 2,209, , % 20,377,928 5,140, % Scholarships & fellowships 1,425, , % 369, , % 1,867,848 1,443, % 3,662,666 1,759, % Insurance plan Depreciation 7,725,000 1,930, % 7,725,000 1,930, % Contingency TOTAL OPERATING EXPENSES 56,501,137 11,454, % 7,545,039 1,554, % 15,007,984 4,419, % 79,054,160 17,428, % OPERATING LOSS (24,839,464) 4,648, % 2,765,614 3,756, % (27,672,921) (12,916,323) 46.7% (49,746,771) (4,511,262) 9.1%

22 University of Arkansas - Fort Smith Actual and Budgeted Revenues, Expenses and Changes in Net Position For the Quarter Ending September 30, 2017 Educational & General Auxiliary Other Total Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget as of End of Q1 Year-to-Date Realized as of End of Q1 Year-to-Date Realized as of End of Q1 Year-to-Date Realized as of End of Q1 Year-to-Date Realized NON-OPERATING REVENUES (EXPENSES) State appropriations 23,962,374 6,136, % 23,962,374 6,136, % Property & sales tax 6,219,517 16, % 6,219,517 16, % Grants 19,439,500 8,105, % 19,439,500 8,105, % Gifts Investment income 3,500 1, % 2, % 3,100 (14,151) % 9,100 (11,416) % Interest on capital asset-related debt (2,658,540) (3,378) 0.1% (2,658,540) (3,378) 0.1% Other 1, % 1, % NET NON-OPERATING REVENUES 30,185,391 6,155, % 2, % 16,785,060 8,087, % 46,972,951 14,244, % INCOME (LOSS) BEFORE OTHER REV/EXP 5,345,927 10,804, % 2,768,114 3,757, % (10,887,861) (4,828,369) 44.3% (2,773,820) 9,733, % OTHER CHANGES IN NET ASSETS Capital appropriations 135,743 8, % 135,743 8, % Capital gifts and grants Other TOTAL OTHER CHANGES ,743 8, ,743 8, % TRANSFERS IN (OUT) Debt Service (5,310,829) (124,555) 2.3% (2,671,688) 0.0% 7,982, , % - - Other (474,014) 0.0% (96,426) 0.0% 570, % - TOTAL TRANSFERS IN (OUT) (5,784,843) (124,555) 2.2% (2,768,114) - 0.0% 8,552, , % - - INCREASE IN NET POSITION (438,916) 10,679, % - 3,757,287 (2,199,161) (4,695,627) 213.5% (2,638,077) 9,741, %

23 University of Arkansas at Little Rock

24 University of Arkansas at Little Rock Executive Summary For the Quarter Ending September 30, 2017 The University of Arkansas at Little Rock financial data reports for the quarter ending September 30, 2017 are attached in the format requested. These reports are prepared on a modified accrual basis of accounting. As of the end of this period, Educational & General, Auxiliary and Other revenues were greater than expenditures by $13,366,390, $5,321,857, and $3,574,445, respectively. The total of all funds reflects revenues exceeding expenditures by $22,262,692. Educational & General The amount of actual tuition and fees revenues are slightly below expectations for the fall semester as actual full time equivalency enrollment is approximately 3% under projections. Currently reviews are underway in order to determine whether budget reductions will be needed. Amounts reported for scholarships and fellowships and various institutional scholarship allowances are in line with expectations as they reflect the full academic semester. However, concurrent enrollment waivers are slightly over budget due to an increase in concurrently enrolled students. Non-operating gifts and investment income are above projections for the quarter due early receipt of gifts and increased earnings on investments due to market fluctuations. Debt service transfers reflect that payments are made primarily in the first and third quarters. Other transfers indicate funds were moved as anticipated for the year in the first quarter. Auxiliary Amounts reported for scholarships and fellowships and various institutional scholarship allowances are in line with expectations as they reflect the full academic semester. Other transfers indicate funds were moved as anticipated for the year in the first quarter. There are no other material differences to report on Auxiliary funds for the first quarter. Other

25 University of Arkansas at Little Rock Executive Summary For the Quarter Ending September 30, 2017 Amounts reported for scholarships and fellowships and various institutional scholarship allowances are in line with expectations as they reflect the full academic semester. Sales and services of educational departments revenue reflects funds received for the semester as a whole. BUDGET ADJUSTMENTS Several minor budget adjustments and reclassifications were made during the quarter and are explained in detail on the enclosed report. Respectfully submitted, Andrew Rogerson Chancellor

26 University of Arkansas at Little Rock Actual and Budgeted Revenues, Expenses and Changes in Net Position For the Quarter Ending September 30, 2017 Page 1 of 2 Educational & General Auxiliary Other Total Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized OPERATING REVENUE Student tuition & fees 76,719,761 38,165, % - 0.0% 76,719,761 38,165, % (9,903,649) (4,951,825) 50.0% (9,903,649) (4,951,825) 50.0% (13,383,571) (6,691,786) 50.0% (13,383,571) (6,691,786) 50.0% Patient services Federal and county appropriations Grants and contracts 35,750,012 7,610, % 35,750,012 7,610, % Sales/services of educational departments 795, , % 473, , % 1,268, , % Insurance plan Auxiliary enterprises: Athletics 6,286,288 2,099, % 6,286,288 2,099, % (527,485) (263,743) 50.0% (163,691) (81,846) 50.0% (691,176) (345,589) 50.0% (936,059) (468,030) 50.0% (936,059) (468,030) 50.0% Housing/food service 9,954,534 4,917, % 9,954,534 4,917, % (1,387,073) (693,537) 50.0% (430,442) (215,221) 50.0% (1,817,515) (908,758) 50.0% (2,461,463) (1,230,732) 50.0% (2,461,463) (1,230,732) 50.0% Bookstore 430, , % 430, , % (56,969) (28,485) 50.0% (17,679) (8,840) 50.0% (74,648) (37,325) 50.0% (101,096) (50,548) 50.0% (101,096) (50,548) 50.0% Other auxiliary enterprises 1,849, , % 1,849, , % Other operating revenues 2,228, , % 2,050, , % 4,278,197 1,315, % TOTAL OPERATING REVENUES 67,868,023 33,226, % 17,908,549 7,514, % 21,391,574 15, % 107,168,146 40,755, % OPERATING EXPENSES Compensation & benefits 94,678,262 20,479, % 6,299,064 1,458, % 15,649,331 4,554, % 116,626,657 26,492, % Supplies & services 22,735,694 4,985, % 8,803,036 1,727, % 25,911,676 3,842, % 57,450,406 10,554, % Scholarships & fellowships 4,795,628 2,669, % 2,110,607 1,032, % 9,648,683 3,776, % 16,554,918 7,478, % Insurance plan 0.0% - - Depreciation 15,960,411 3,990, % 15,960,411 3,990, % Contingency 1,103, ,993 1,372,081 TOTAL OPERATING EXPENSES 123,312,672 28,134, % 17,481,700 4,218, % 67,170,101 16,163, % 207,964,473 48,516, % OPERATING LOSS (55,444,649) 5,091, % 426,849 3,296, % (45,778,527) (16,148,505) 35.3% (100,796,327) (7,760,570) 7.7%

27 University of Arkansas at Little Rock Actual and Budgeted Revenues, Expenses and Changes in Net Position For the Quarter Ending September 30, 2017 Page 2 of 2 Educational & General Auxiliary Other Other Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized NON-OPERATING REVENUES (EXPENSES) State appropriations 67,041,825 17,207, % 418, % 67,041,825 17,625, % Property & sales tax - - Grants 24,232,028 11,252, % 24,232,028 11,252, % Gifts 170, , % 2,881, , % 3,051,543 1,142, % Investment income 210, , % 651, , % 861, , % Interest on capital asset-related debt (4,556,706) (613,282) 13.5% (4,556,706) (613,282) 13.5% Other (104,176) 100.0% - (104,176) 100.0% NET NON-OPERATING REVENUES 67,422,780 17,870, % ,207,410 12,152, % 90,630,190 30,023, % INCOME (LOSS) BEFORE OTHER REV/EXP 11,978,131 22,961, % 426,849 3,296, % (22,571,117) (3,995,644) 17.7% (10,166,137) 22,262, % OTHER CHANGES IN NET ASSETS Capital appropriations - - Capital gifts and grants - - Other - - TOTAL OTHER CHANGES TRANSFERS IN (OUT) Debt Service (5,707,120) (2,893,234) 50.7% (3,913,250) (1,331,168) 34.0% 9,620,370 4,224, % - - Other (6,271,011) (6,702,221) 106.9% 3,486,401 3,356, % 2,784,610 3,345, % - - TOTAL TRANSFERS IN (OUT) (11,978,131) (9,595,455) 80.1% (426,849) 2,025, % 12,404,980 7,570, % - - INCREASE IN NET POSITION - 13,366,390-5,321,857 (10,166,137) 3,574, % (10,166,137) 22,262, %

28 University of Arkansas for Medical Sciences

29 University of Arkansas for Medical Sciences Executive Summary of Larger Variances For the Three Months Ended September 30, 2017 All Funds Excluding Agency Funds Overview: For the first quarter of fiscal 2018, UAMS experienced a decrease in net position of $12.6 million. This decrease in net position was more than the budgeted decrease by $2.8 million and exceeded the decrease from the comparable prior year s first quarter by $10.4 million. Total actual operating revenues for this quarter were less than budgeted revenues by $1.5 million (.4%). However, total operating revenues exceeded those of the comparable first quarter of the prior year by $18.3 million (5.2%). This unfavorable first quarter budget variance was primarily due to Net Patient Service revenues not meeting the expectations of an aggressive fiscal 2018 budget, missing that budget target by $4.9 million (1.6%). However, the actual first quarter Net Patient Service revenues exceeded those of the comparable first quarter of the prior year by $10.6 million (3.6%). Total actual operating expenses exceeded budget by $3.7 million (.9%) and exceeded the comparable prior year s first quarter by $24.6 million (6.6%). Both of these variances were attributable to the largest category of operating expenses, which was compensation and benefits. Supplies and other expenses exceeded budget by only 1.3% and the comparable prior period by just 2.2%. Operating expenses included depreciation expense of $16.3 million, which was 4.1% of total operating expenses. Therefore, the total actual operating loss exceeded the budgeted loss by $5.2 million (23.4%) and exceeded the loss of the comparable first quarter of the prior year by $6.2 million (29.5%). Total actual non-operating revenues exceeded budget by $1.7 million (14.4%). However, these revenues were less than the comparable prior year s first quarter by $4.3 million (24.0%). Both of these variances were primarily attributed to net investment gains. While these gains exceeded fiscal 2018 s first quarter budget, the actual gains of the first quarter of fiscal 2018 were 41% less than the gains recognized in the comparable first quarter of the prior year. Following are more specific explanations of larger variances by category for the first quarter of fiscal 2018: Operating Revenue Variances: 1. Net Patient Service revenues, which comprised 81% of total operating revenues for the first quarter of fiscal 2018, continued to have positive growth year over year, coming in 3.6% higher than the comparable quarter of the prior year. However, these revenues were 1.6% less than fiscal 2018 s expanded revenue budget. The Integrated Clinical Enterprise (ICE) actual patient volumes in the first quarter were, generally, less than budgeted and only slightly more than the comparable quarter of the prior year, as noted by the variances in the following key indicators: Page 1 of 2

30 University of Arkansas for Medical Sciences Executive Summary of Larger Variances For the Three Months Ended September 30, 2017 All Funds Excluding Agency Funds Key Indicator % Variance Budget Prior Year Total Inpatient Discharges -5.3% 0.3% Total Adult Equivalent Average Daily Census 1.8% -1.7% Emergency Department Visits 3.3% 0.7% Surgical Cases -2.1% 2.6% Clinic Visits -2.8% 1.6% Work Relative Value Units (RVUs) -7.8% -3.0% 2. Other Operating revenues exceeded the budget for the first quarter by $2.1 million (14.0%) and, also, exceeded that of the comparable quarter of the prior year by $3.4 million (24.7%). These favorable variances were due mainly to the growth in the contract pharmacy business, primarily from the increased activity of the Federal 340B program. Operating Expense Variances: 1. Compensation and benefits $2.5 million (1.0%) above budget: This unfavorable budget variance was primarily due to increases in patient care staffing in ICE to prepare for budgeted higher patient volumes. The $7.7 million (6%) unfavorable budget variance ICE experienced in this expense line was offset was offset by favorable variances in most other campus divisions. 2. Compensation and benefits $22.4 million (9.3%) more than prior year: This increase over the prior year was primarily due to a combination of (A) pay increases per the implementation of the campus-wide compensation plan to reduce the gap in UAMS salaries compared to the market, and (B) higher full time equivalent (FTE) employee count in the clinical areas. The largest portion of this year over year increase was in ICE, where the compensation plan adjustment accounted for 1/3 rd of this increase, with the remaining 2/3 rd attributable to a larger number of FTEs. Page 2 of 2

31 University of Arkansas for Medical Sciences Summary Statement of Revenues, Expenses and Changes in Net Position For the Three Months Ended September 30, 2017 All Funds Excluding Agency Funds Fiscal 2018 Variance Budget Actual Prior Year Actual Variance Operating Revenues Student tuition and fees $ 780,008 $ 11,783,007 $ 12,563,015 $ 12,454,905 $ 108,110 Net patient services (4,892,771) 307,417, ,524, ,935,732 10,588,646 Meaningful use 594, , , , ,725 Federal grants and contracts (1,602,885) 18,551,606 16,948,721 16,405, ,045 State grants and contracts (706,260) 6,921,862 6,215,603 6,291,731 (76,128) Nongovernmental grants and contracts 2,020,887 2,385,140 4,406,027 1,801,536 2,604,491 Sales and services-educational depts 333,988 8,437,500 8,771,488 7,762,733 1,008,755 Auxiliary enterprises Housing and food services (36,789) 2,314,708 2,277,918 2,439,488 (161,569) Parking (91,292) 812, , ,086 (84,880) Other 12, ,906 60,497 (47,591) Other operating revenues 2,080,906 14,872,488 16,953,394 13,598,935 3,354,459 Total Operating Revenues (1,506,872) 373,622, ,115, ,786,537 18,329,062 Operating Expenses Compensation and benefits 2,486, ,234, ,721, ,280,792 22,440,209 Supplies and other services 1,519, ,298, ,817, ,266,176 2,551,469 Scholarship and fellowships 390, , , , ,346 Depreciation and amortization (721,702) 17,026,424 16,304,722 16,939,940 (635,218) Total Operating Expenses 3,675, ,783, ,458, ,896,862 24,561,806 Operating Income (Loss) (5,181,965) (22,161,104) (27,343,069) (21,110,324) (6,232,745) Nonoperating Revenues (Expenses) State appropriations (net of match) (99,472) 6,870,077 6,770,605 7,830,653 (1,060,048) Gifts (873,587) 6,068,635 5,195,048 5,678,219 (483,171) Investment income 2,026,537 2,323,372 4,349,909 7,278,094 (2,928,184) Interest on capital 675,029 (3,278,990) (2,603,961) (2,749,290) 145,330 Loss on disposal of capital assets (1,271) (2,450) (3,721) (9,007) 5,286 Total Nonoperating Revenues, Net 1,727,237 11,980,644 13,707,880 18,028,669 (4,320,788) Income (Loss) Before Other Changes in Net Position (3,454,728) (10,180,460) (13,635,189) (3,081,655) (10,553,533) Other Changes In Net Position Capital gifts 362, , , ,047 (92,188) Interagency Transfers 251, , ,560 Total Other Changes In Net Position 614, , , , ,372 Increase (Decrease) In Net Position $ (2,840,310) $ (9,805,460) $ (12,645,770) $ (2,251,609) $ (10,394,161)

32 University of Arkansas for Medical Sciences Summary Statement of Revenues, Expenses and Change in Net Position by Fund Groups For the Three Months Ended September 30, 2017 All Funds Excluding Agency Funds Unrestricted Funds Restricted Funds Plant Funds Prior Year Fiscal 2018 Prior Year Fiscal 2018 Prior Year Fiscal 2018 Actual Actual Budget Variance Actual Actual Budget Variance Actual Actual Budget Variance Operating Revenues Student tuition and fees $ 12,454,905 $ 12,563,015 $ 11,783,007 $ 780,008 $ - $ - $ - $ - $ - $ - $ - $ - Net patient services 291,543, ,430, ,417,149 (4,986,158) 391,844 93,387-93, Meaningful use 229, , , , Federal grants and contracts 405, , ,557 (445,804) 16,000,489 16,836,968 17,994,049 (1,157,080) State grants and contracts 1,717,644 1,598,365 1,393, ,613 4,537,285 4,586,624 5,503,110 (916,486) 36,800 30,613 25,000 5,613 Nongovernmental grants and contracts 803,051 1,162, , , ,486 3,243,888 1,998,480 1,245, Sales and services-educational depts 7,762,733 8,771,488 8,437, , Auxiliary enterprises Housing and food services 2,439,488 2,277,918 2,314,708 (36,789) Parking 806, , ,498 (91,292) Other 60,497 12, , Other operating revenues 12,321,281 15,340,484 14,010,662 1,329,821 1,270, , ,988 (458,462) 7,202 1,258,385 48,838 1,209,547 Total Operating Revenues 330,543, ,711, ,240,007 (1,528,798) 23,198,556 25,115,392 26,308,627 (1,193,234) 44,001 1,288,998 73,838 1,215,160 Operating Expenses Compensation and benefits 224,326, ,500, ,066,769 3,433,595 15,817,454 18,096,183 19,058,233 (962,050) 136, , ,115 15,340 Supplies and other services 103,581, ,922, ,679,109 1,243,310 13,824,540 13,263,479 13,098, ,254 (139,574) 631, , ,632 Scholarship and fellowships (1,215,392) (1,278,738) (355,226) (923,512) 1,625,345 1,894, ,812 1,314, Depreciation and amortization (31) (11,891) 41,496 (53,387) ,939,971 16,316,613 16,984,928 (668,315) Total Operating Expenses 326,692, ,132, ,432,148 3,700,006 31,267,338 33,253,699 32,736, ,429 16,937,014 17,072,815 17,615,158 (542,343) Operating Income (Loss) 3,851,471 (3,420,945) 1,807,859 (5,228,804) (8,068,783) (8,138,307) (6,427,643) (1,710,664) (16,893,013) (15,783,817) (17,541,320) 1,757,503 Non-Operating Revenues (Expenses) State appropriations (net of match) 7,305,577 6,245,529 6,820,077 (574,548) 525, ,076 50, , Gifts 109,211 (29,340) 25,373 (54,714) 5,474,517 5,224,388 6,043,261 (818,873) 94, Investment income 4,962,103 2,856,927 2,066, ,422 2,287,077 1,457, ,368 1,238,026 28,914 35,589 37,500 (1,911) Interest on capital (178,367) (144,201) (217,276) 73, (2,570,924) (2,460,516) (3,061,714) 601,198 Loss on disposal of capital assets - 10,586 (2,450) 13,036 (1,902) (7,105) (14,307) - (14,307) Total Non-Operating Revenues, Net 12,198,524 8,939,500 8,692, ,272 8,284,768 7,207,614 6,312, ,985 (2,454,623) (2,439,234) (3,024,214) 584,980 Income (Loss) Before Other Changes in Net Position 16,049,995 5,518,555 10,500,088 (4,981,532) 215,985 (930,693) (115,014) (815,679) (19,347,635) (18,223,051) (20,565,534) 2,342,483 Other Changes In Net Position Capital gifts - 55,000-55,000 11, , , ,998 (26,380) 375,000 (401,380) Interagency transfers , , Total Other Changes In Net Position - 55,000-55,000 11, , , ,998 (26,380) 375,000 (401,380) Transfers In (Out) Debt service (4,738,657) (4,476,580) (5,309,886) 833, ,738,657 4,476,580 5,309,886 (833,306) Capital transfers (1,075,132) (959,127) (680,110) (279,017) (87,593) 24,417 (667,500) 691,917 1,162, ,710 1,347,610 (412,900) Other transfers (3,127,377) (3,450,390) (3,662,026) 211, , , ,483 (269,242) 2,677,063 3,089,149 3,031,543 57,606 Total transfers (8,941,167) (8,886,097) (9,652,021) 765, , ,658 (37,017) 422,675 8,578,445 8,500,439 9,689,038 (1,188,600) Increase (Decrease) In Net Position $ 7,108,828 $ (3,312,541) $ 848,066 $ (4,160,608) $ 589,755 $ 415,764 $ (152,031) $ 567,795 $ (9,950,192) $ (9,748,993) $ (10,501,495) $ 752,503

33 University of Arkansas at Monticello

34 UNIVERSITY OF ARKANSAS AT MONTICELLO EXECUTIVE SUMMARY Enclosed are the quarterly reports for the University of Arkansas at Monticello for the quarter ending September 30, Actual and Budgeted Revenues, Expenses and Changes in Net Position For the Quarter Ending September 30, 2017 Unrestricted Educational and General (E&G) Revenues exceeded Unrestricted E&G Expenses by $5,969,979 as of September 30, This is shown in the Actual Year-to-Date column for E&G as Increase in Net Position. Unrestricted Auxiliary Revenues exceeded Unrestricted Auxiliary Expenses by $868,520 for the first quarter shown as Actual Year-to-Date for Auxiliary. The Other category shown on the report includes the Restricted E&G Fund, Restricted Auxiliary, Plant Funds, Endowment Funds and Loan Funds. As shown in the Actual Year-to-Date column, these expenses exceeded the revenues by $831,328 for the quarter ending September 30, There are no material variances to explain in this first quarter report. Budget Adjustments Made in the Quarter Ended September 30, 2017 Several budget adjustments were made during the first quarter and these adjustments are explained in detail on the enclosed report. Karla Hughes Chancellor

35 Page 1 of 2 UNIVERSITY OF ARKANSAS AT MONTICELLO Actual and Budgeted Revenues, Expenses and Changes in Net Position For the Quarter Ending September 30, 2017 Educational & General Auxiliary Other Total Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized OPERATING REVENUE Student tuition & fees 18,559,011 10,859, % 18,559,011 10,859, % (2,108,025) (1,354,245) 64.2% (627,894) (333,567) 53.1% (2,735,919) (1,687,812) 61.7% (5,059,006) (2,502,821) 49.5% (5,059,006) (2,502,821) 49.5% Patient services Federal and county appropriations Grants & contracts 4,853, , % 4,853, , % Sales/services of educational departments 154, , % 154, , % Insurance plan Auxiliary enterprises: Athletics 1,202, , % 1,202, , % (77,341) (49,686) 64.2% (23,037) (12,238) 53.1% (100,378) (61,924) 61.7% (185,609) (91,825) 49.5% (185,609) (91,825) 49.5% Housing/food service 3,872,423 2,191, % 3,872,423 2,191, % (486,940) (312,822) 64.2% (145,039) (77,052) 53.1% (631,979) (389,874) 61.7% (1,168,597) (578,135) 49.5% (1,168,597) (578,135) 49.5% Bookstore 703, , % 703, , % (31,830) (20,448) 64.2% (9,481) (5,037) 53.1% (41,311) (25,485) 61.7% (76,388) (37,791) 49.5% (76,388) (37,791) 49.5% Other auxiliary enterprises 1,060, , % 1,060, , % (87,951) (56,502) 64.2% (26,197) (13,917) 53.1% (114,148) (70,419) 61.7% (211,071) (104,422) 49.5% (211,071) (104,422) 49.5% Other operating revenues 431,319 92, % 431,319 92, % TOTAL OPERATING REVENUES 16,352,743 9,281, % 6,006,647 3,217, % (1,846,869) (2,733,160) 148.0% 20,512,521 9,765, % OPERATING EXPENSES Compensation & benefits 24,126,148 5,237, % 1,736, , % 1,568, , % 27,431,762 6,106, % Supplies & services 6,457,442 1,677, % 3,363, , % 2,377, , % 12,198,842 2,707, % Scholarships & fellowships 1,709,099 1,097, % 509, , % 4,101,619 2,029, % 6,319,788 3,397, % Insurance plan Depreciation 3,664, , % 3,664, , % Contingency 932, ,481 TOTAL OPERATING EXPENSES 33,225,170 8,012, % 5,609,429 1,569, % 11,712,344 3,530, % 50,546,943 13,111, % OPERATING LOSS (16,872,427) 1,269, % 397,218 1,648, % (13,559,213) (6,263,422) 46.2% (30,034,422) (3,345,652) 11.1%

36 Page 2 of 2 UNIVERSITY OF ARKANSAS AT MONTICELLO Actual and Budgeted Revenues, Expenses and Changes in Net Position For the Quarter Ending September 30, 2017 Educational & General Auxiliary Other Total Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized NON-OPERATING REVENUES (EXPENSES) State appropriations 18,464,754 4,729, % 18,464,754 4,729, % Property & sales tax Grants 9,895,143 4,548, % 9,895,143 4,548, % Gifts 25, % 25, % Investment income 269,243 22, % 1 205,000 71, ,243 94, % Interest on capital asset-related debt (1,213,665) (19,664) 1.6% (1,213,665) (19,664) 1.6% Other NET NON-OPERATING REVENUES 18,733,997 4,751, % - 1 8,911,478 4,600, % 27,645,475 9,352, % INCOME (LOSS) BEFORE OTHER REV/EXP 1,861,570 6,021, % 397,218 1,648,387 (4,647,735) (1,662,598) 35.8% (2,388,947) 6,007, % OTHER CHANGES IN NET ASSETS Capital appropriations Capital gifts and grants 150, % 150,000 Other TOTAL OTHER CHANGES 150, % 150, % TRANSFERS IN (OUT) Debt Service (1,060,372) (51,403) 4.8% (1,198,416) (779,867) 65.1% 2,258, , % - - Other (801,198) 0.0% 801, % - TOTAL TRANSFERS IN (OUT) (1,861,570) (51,403) 2.8% (397,218) (779,867) 2,258, , % - - INCREASE IN NET POSITION - 5,969, ,520 (2,238,947) (831,328) 37.1% (2,238,947) 6,007, %