FY17 First Quarter Financial Report. November 3, 2016 Committee on Budget and Finance

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1 FY17 First Quarter Financial Report November 3, 2016 Committee on Budget and Finance

2 Introduction 1. Total enrollment is down 4.2% from the prior fall semester. After the 4% or 5% tuition rate increase, TFSF revenues for Q1 FY17 are 2.1% lower than Q1 FY16 (-$3.9 million). UH Mānoa = -$4.2 million (-3.5%) UH Hilo = -$37K (-0.2%) UH WO = +$1.2 million (+14.9%) UH CC = -$0.8 million (-2.4%) 2. Apparent reporting variances in report are an issue of quarterly budget format rather than fundamental fiscal issues. 3. Net Operating Income is not as useful a metric thru Q1 as 69% of annual expected revenues have been collected while 25% of annual expected expenditures have been spent. 2

3 FY17 Q1 s (Budget vs. ) Timing of forecasted quarterly revenues responsible for apparent variance in general fund and TFSF. $500,000,000 $450,000,000 $400,000,000 $350,000,000 $300,000,000 $250,000,000 $200,000,000 $150,000,000 $100,000,000 $50,000,000 $- General Fund TFSF RTRF Other SF Other RF Budget 3

4 s (Q1 FY17 vs. Q1 FY16) Increase in General Fund revenues during Q1 attributable to timing of the release of funds. $500,000,000 $450,000,000 $400,000,000 $350,000,000 $300,000,000 $250,000,000 $200,000,000 $150,000,000 $100,000,000 $50,000,000 $- General Fund TFSF RTRF Other SF Other RF FY17 FY16 4

5 FY17 Q1 Expenditures (Budget vs. ) Other Special Funds expenditures accelerated from forecast due to timing distribution of scholarships. $140,000,000 $120,000,000 $100,000,000 $80,000,000 $60,000,000 $40,000,000 $20,000,000 $- General Fund TFSF RTRF Other SF Other RF Budget 5

6 Expenditures (Q1 FY17 vs. Q1 FY16) $120,000,000 $100,000,000 $80,000,000 $60,000,000 $40,000,000 $20,000,000 $- General Fund TFSF RTRF Other SF Other RF FY17 FY16 6

7 Mānoa 1. Enrollment is down 4.4%, which is more than the projected 3.5% decline. 2. TFSF s projections were weighted to the early part of FY17, enlarging the budget target for Q1. Q1 s total $115.9 million, which is $4.2 million (3%) lower for FY17 than FY General Fund allocations to Mānoa are lower than projections due to Performance Funding, Athletics Funding (via UH System), and Concussion Study (Act 262/16) funds not being allocated or distributed by end of period. 4. Utilities expenditures are lower due to an early payment of May- June electricity invoice in FY16. 7

8 Hilo 1. Enrollment decreased by 4.3%, which is more than the projected decline of 1.5%. TFSF revenues are $19.0 million for Q1 FY17. Spending plans from TFSF have been adjusted downward in response. College faculty, staff, and alumni are to be involved in recruitment planning and implementation of a unified and integrated recruiting strategy. 2. TFSF expenditures have decreased, primarily in Non-Personnel Expenditures vs. budgeted as well as YOY. 8

9 West O ahu 1. Enrollment increased by 9.2%, while projections were for a 4% increase. 2. TFSF for Q1 totals $9.0 million, which is 3% ($272k) higher than the projection and 15% ($1.1 million) higher than Q1 FY Transfers for Other Special Funds shows a large variance ($1.9 million) due to timing of recordation for debt service payments. 9

10 Community Colleges 1. Overall enrollment decline of 5.3% across all campuses, although actual amount varies by campus. CCs are implementing enrollment management approaches to address this decline. 2. Q1 FY17 TFSF s total $34.6 million, which is $834,284 less than Q1 FY s for TFSF and Community Colleges Special Fund (CCSF) are higher than budgeted as CC s project revenue on a cash basis, and the reported revenues include receivables. As the fiscal year progresses and those receivables turn into cash, the variance should decrease. 10

11 Systemwide Administration 1. General Fund Allocation was budgeted in both Q1 and Q2. allocation was in Q1 only, which creates the large variance ($41.4 million) between budgeted and actual revenue for General Funds. This difference will mostly disappear by Q2. 2. Personnel expenditures rose compared to FY16 by $2.4 million as a result of collective bargaining increases and the one-time lump sum to APTs. 3. Compared to FY16, non-personnel expenditures in Other Special Funds rose primarily due to the Risk Management Special Fund ($717,112). Due to its self-insurance nature, this fund is difficult to project on a quarterly basis. 11

12 FY17 First Quarter Financial Report

13 UNIVERSITY SYSTEM SUMMARY Introduction Through the first quarter (Q1) of Fiscal Year (FY17), overall financial performance looks satisfactory. There are concerns with the decline in overall enrollment of 4.2% from the prior fall semester, as this will have a negative effect on Tuition and Fee Special Fund (TFSF) revenue. FY17 is the second year since implementation of the Board of Regents approving a fiscal budget prior to the start of fiscal year for UH. There continues to be some nuanced challenges with incorporation of the reports, analyzing matters of timing, and reporting format. Many of the larger variances are the result of forecasting oversights rather than a fundamental problem. Comparing current year (FY17) results with those of last year (FY16) helps provide context where the projections and actual results for FY17 appear to have a large variance. Overall s and Expenditures The following table shows the budgeted annual revenue and the actual revenue collected year-to-date (through the first quarter) by fund. It also shows the percentage of the annual budgeted amount that s been collected so far this year. Fund Annual Budgeted YTD % of annual General Fund 470,162, ,062, % TFSF 348,738, ,667, % RTRF 47,856,610 13,412, % Other Special 151,629,090 53,395, % Other Revolving 37,837,056 15,612, % Total 1,056,223, ,150, % Historically, there have been years in which the general fund appropriation has typically been released in one lump sum at the beginning of the fiscal year. There have also been years in which allotments were distributed on a quarterly basis especially, during years in which state tax revenues were distressed. The University does not control and may not know prior to the start of the fiscal year when appropriations will be released by the State. This can create timing issues that would affect the variance reports. Another factor to consider is that more than half of the year s Tuition and Fee Special Fund (TFSF) revenue tends to be collected in the first quarter. 1

14 While 69% of the anticipated revenues for the year have been collected so far, the expenditure picture is different: Fund Annual Budgeted Expenditures YTD Expenditures % of annual General Fund 470,162, ,463, % TFSF 351,060,024 70,713, % RTRF 50,035,313 14,680, % Other Special 160,994,849 69,190, % Other Revolving 35,697,585 7,795, % Total 1,067,950, ,843, % Because only 25.4% of the projected annual expenditures have been spent so far this year, Net Operating Income, or revenues less expenditures, would not be a good indicator of fiscal performance at this point in time. However, additional context is provided when comparing actual revenues and expenditures with last year s results as well as comparing actual revenues and expenditures with budget expectations for the current fiscal year. The current (unaudited) cash position of the University is presented below: Fund Unencumbered Cash (Q1 FY17) Unencumbered Cash (Q1 FY16) General Funds $ 358,662,932 $ 333,805,061 Tuition and Fees Special Fund $ 169,252,375 $ 126,688,466 Research and Training Revolving Fund $ 16,163,223 $ 16,861,687 Other Special Funds $ 77,558,481 $ 77,480,221 Other Revolving Funds $ 29,044,542 $ 26,012,333 Total $ 650,681,553 $ 580,847,768 Again, as this Q1 and 69% of the expected annual revenues have been collected but only 25% of the expected annual expenditures have occurred, the cash position is stronger than it was at the start of the fiscal year, but will gradually decrease as the fiscal year continues. Comparing these numbers with FY16 shows that virtually all funds are in a better cash position than they were a year ago. 2

15 The following chart shows budgeted and actual revenues for Q1 of FY17: s (Budget vs ) $500,000,000 $450,000,000 $400,000,000 $350,000,000 $300,000,000 $250,000,000 $200,000,000 $150,000,000 $100,000,000 $50,000,000 $- General Fund TFSF RTRF Other SF Other RF Budget When looking at the budgeted revenues against actual revenues, it appears that TFSF is far below expectations and that general fund is also greatly exceeding projections: FY17 UH s Forecast (Projected) vs. As of September 30, 2016 Fund Projected s s General Fund $ 435,039,281 $ 468,062,520 TFSF $ 263,357,850 $ 178,667,026 RTRF $ 12,082,653 $ 13,412,220 Other SF $ 55,084,155 $ 53,395,599 Other RF $ 16,004,439 $ 15,612,840 Total $ 781,568,378 $ 729,150,205 However, these are artifacts of the budgeting process rather than an actual issue. The TFSF revenues for the year for Mānoa are budgeted mostly in the first quarter. This enlarges the Q1 budget target for TFSF revenues. In addition, annual General Fund revenues for Systemwide Support are budgeted over the first two quarters, rather than entirely in Q1. This decreases the budget target for Q1 General Fund revenues. When comparing revenues for the current fiscal year to last year, the picture appears better, as actual general fund receipts are higher in FY17 than FY16. Although TFSF revenue is still down slightly ($3.9 million, or roughly 2.1%), the difference is much smaller than the comparison with the Q1 FY17 projection. 3

16 The following chart shows the revenues and expenditures comparing Q1 for both FY17 and FY16: s (FY17 vs FY16) $500,000,000 $450,000,000 $400,000,000 $350,000,000 $300,000,000 $250,000,000 $200,000,000 $150,000,000 $100,000,000 $50,000,000 $- General Fund TFSF RTRF Other SF Other RF FY17 FY16 The following table shows the values for the above chart, as well as the actual dollar difference, and the percentage that difference is of the FY16 amount: Fund FY17 FY16 Difference % of FY16 General Fund $ 468,062,520 $ 432,084,364 $ 35,978, % TFSF $ 178,667,026 $ 182,588,434 $ (3,921,408) -2.1% RTRF $ 13,412,220 $ 4,334,776 $ 9,077, % Other SF $ 53,395,599 $ 50,305,086 $ 3,090, % Other RF $ 15,612,840 $ 15,978,777 $ (365,937) -2.3% Total $ 729,150,205 $ 685,291,437 $ 43,858, % The large percentage difference for RTRF is due to revenues being lower than anticipated in Q1 of FY16, resulting in the relatively small FY16 amount. 4

17 Expenditures (Budget vs ) $140,000,000 $120,000,000 $100,000,000 $80,000,000 $60,000,000 $40,000,000 $20,000,000 $- General Fund TFSF RTRF Other SF Other RF Budget expenditures are relatively close to projections, with the exception of Other Special Funds. This is primarily due to the discrepancy in the transfer of funds, rather than actual expenditures. In this case, the timing of the transfer of scholarship funds is creating the difference, although this will be eliminated as we go through the rest of the fiscal year. Fund Budget Difference General Fund $ 114,965,209 $ 108,463,558 $ 6,501,651 TFSF $ 66,301,416 $ 70,713,518 $ (4,412,102) RTRF $ 13,989,263 $ 14,680,605 $ (691,342) Other SF $ 37,774,573 $ 69,190,328 $ (31,415,755) Other RF $ 7,269,240 $ 7,795,614 $ (526,374) Total $ 240,299,701 $ 270,843,623 $ (30,543,922) 5

18 Expenditures (FY17 vs FY16) $120,000,000 $100,000,000 $80,000,000 $60,000,000 $40,000,000 $20,000,000 $- General Fund TFSF RTRF Other SF Other RF FY17 FY16 When comparing expenditures for the current fiscal year to the prior fiscal year, they are roughly the same, with FY17 being $1.9 million, or 0.7% higher than the same period last year. However, there is a difference in the mix of funds used, as expenditures were higher from General Funds for FY17 than FY16, although that was offset by decreased expenditures in TFSF and Other Special Funds, compared to the prior fiscal year. Fund FY17 FY16 Difference General Fund $ 108,463,558 $ 98,165,306 $ 10,298,252 TFSF $ 70,713,518 $ 77,116,729 $ (6,403,211) RTRF $ 14,680,605 $ 14,681,446 $ (841) Other SF $ 69,190,328 $ 72,453,706 $ (3,263,378) Other RF $ 7,795,614 $ 6,544,384 $ 1,251,230 Total $ 270,843,623 $ 268,961,571 $ 1,882,052 Enrollment In fall 2016, enrollment across the system declined by 4.2% from the previous year to 53,418, back to pre-recession levels of The decline occurred in all campuses except for UH West O ahu, which grew by 9% and Kaua i Community College, which remained flat. Honolulu Community College and Maui College saw the largest declines with drops of 9.6% and 7.6% respectively. The enrollment declines come at the same time that degrees and certificates awarded are at record levels, reflecting the new policies and practices to improve student success. The lower enrollment, particularly at the Community Colleges, is in part reflective of a strong economy with employment opportunities. Lower enrollment is also in part a result of the aggressive student success strategies that have raised fouryear graduation rates. From 2008 to 2016, four-year graduation rates have increased by 6

19 4% at West O ahu and 7% at Hilo. The four-year graduation rate at Mānoa increased 87%, going from 17.5% to 32.1%. General Fund For Q1, General Fund revenues were higher than anticipated, although this is the result of $41.9 million in General Fund revenues for UOH900 budgeted in the second quarter (Q2) rather than Q1. Once this is accounted for, total General Fund revenues for FY17 is projected at $470.2 million, with actual revenues being $468.1 million, a difference of $2.1 million, or 0.45%. Tuition and Fees Special Fund For Q1, TFSF actual revenues ($178.7 million) were lower than projections ($263.4 million), although a large part of this discrepancy is due to the way that revenues were projected rather than a fundamental problem. Mānoa s TFSF revenue projections are weighted to the early part of the year, with Q1 showing $207.8 million in revenue and the annual total being $225.8 million. While TFSF revenues are collected in the first half of the year, the amount projected in Q1 is still disproportionate. When looking at a year-over-year comparison, total TFSF revenues for the UH System are $178.7 million, which is 2.1% lower than last year s Q1 revenues, which were $182.6 million. Given the overall enrollment decline of 4.2% and the tuition rate increase of 4% or 5%, depending on campus, this result makes sense. TFSF revenue will be monitored throughout the fiscal year. We should anticipate TFSF revenues for FY17 to be slightly lower than projections. Recognizing this, campuses are already reducing TFSF expenditures, as they are currently $6.4 million, or 8.3% lower than expenditure levels last year. The area of largest savings is Utilities, which are $4.7 million lower than last year. Research & Training Revolving Fund (RTRF) RTRF revenues for Q1 are $1.3 million, or 11%, higher, than projections. Expenditures are near projections, with a total variance of $691,342, or 5%. Other Special Funds Total revenues for Other Special Funds is slightly lower than projections by $1.7 million, or 3%. However, transfers are significantly higher than projections, with actual transfers being positive (net transfer out) $9.8 million rather than the projection of negative $22.7 million (net transfer in), a difference of $32.5 million. This is attributable to primarily to a timing discrepancy with the transfer of scholarship funds. This discrepancy should be eliminated as we go through the fiscal year. Other Revolving Funds There are no significant variances between the Board-approved budget and actual revenues and expenditures. 7

20 Utilities For the current fiscal year, Utilities expenditures are significantly lower than expected. Across all funds, actual expenditures total $13.5 million, which is less than the budgeted amount of $18.7 million, and also less than the actual expenditures of $16.7 million for Q1 last year. In light of lower than projected revenues for both General Fund and TFSF, the savings here is beneficial, and will continue to be monitored. 8

21 MANOA Enrollment As of the enrollment census date of September 26, 2016, the enrollment for Fall 2016 semester was down 4.4% from the prior fall semester. The enrollment decline is greater than the projected decline of 3.5% for Academic Year Headcount is down in all types of students and across all disciplines. If this decline continues for the Spring semester, this will have a negative effect on the projected tuition revenue. The full impact of the decrease in revenue will not be known until the Spring 2017 enrollment mix is known. Mānoa will continue to monitor the enrollment into the spring semester. General Fund General Fund allocations to Mānoa are lower than projections because the projections included performance funding and special appropriations for Title IX, Athletics and a special concussion study. All of these have not yet been distributed to Mānoa as of the end of the first quarter. Non-personnel costs were lower than projected due to conservative budgeting of costs and the delay in receipt of performance fund allocations. The majority of the non-personnel costs projected on general funds are for performance funding related expenditures and other fund maximization costs at the end of the fiscal year. Once performance funding is allocated to Mānoa, this variance should decrease. Tuition and Fees Special Fund s for the tuition and fees special fund are based on an annual projection of revenue. The total revenues were budgeted in the first quarter and there will therefore be a variance throughout the fiscal year. However, this variance should become smaller as the fiscal year progresses. As mentioned previously, due to enrollment decreasing more than projected, there will be a negative impact on tuition revenues for the year. s for Q1 FY17 are $4.2 million, or 3% lower than Q1 FY16 revenues. On the other side of the ledger, it should be noted that TFSF expenditures for the current fiscal year are $5.2 million lower than last year s Q1 expenditures. Utilities expenditures are lower than projected since 2 months of campus substation electricity charges were paid in Q1 rather than 3 months, due to an early payment of the May-June electricity invoice in FY16. If 3 months of electricity expenditures had been paid in Q1, the budget-to-actual variance would have been closer to 5%. rates and consumption are being monitored throughout the year. The timing of the transfers between quarters is the reason why there is a discrepancy between the budget and actual. Research & Training Revolving Fund RTRF expenditure budgets are traditionally conservative in nature due to uncertainty of the timing of expenditures. Most of these costs are associated with startup packages for PIs and as such actual expenditures vary depending on the needs of the 9

22 Principal Investigator (PI). In order to accommodate for this uncertainty, Fiscal Administrators typically project that the entire amount would be spent relatively evenly over the duration of the year. Utility expenditures from RTRF are typically paid throughout the year with the exception of the amount paid centrally by the Office of Facilities and Planning (OFP). OFP had projected to expend funds on utilities in the first quarter, but that charge usually happens in the last quarter. If this expenditure projection had been shown in Q4, the variance in Q1 would have been less than $100K. Transfer budgets for RTRF cash transfers were not entered on the BOR approved budget sheet due to an administrative oversight. Other Special Funds s for other special funds were lower than projected for Bookstore, also not all of the Cancer Center funding was not received in the first quarter as budgeted. non-personnel costs were lower than projected due to conservative projections of operating costs. Transfers for other special funds include transfers for debt service, assessments to UH System and for Tuition based scholarships. The transfer of the scholarship funds was entered as a budgeted item in the first quarter, but typically the transfer occurs in the fourth quarter once the revenues for the year have been received. While the budget-to-actual variance is significant, the year-over-year comparison is not. Other Revolving Funds Non-personnel costs were higher than projected due to timing of certain expenditures occurring earlier than originally projected. This variance should decrease as we progress through the fiscal year. Utilities Utilities projections are based a conservative projection of utilities rates increases with stable usage from the prior year. Utilities expenditures in Q1 were lower than expected due to two campus substation electricity payments being made in Q1 instead of three expected payments. The usage and rates are being monitored throughout the year. 10

23 HILO Enrollment Overall, total enrollment decreased by about 4.3% which is more than our projected decline of 1.5%. Resident enrollment declined by 4.11% and non-resident by 4.75% which contributed to revenues being below our planned level. Spending plans have been adjusted downward in response to this lower than planned enrollment. As part of a unified and integrated recruiting strategy, college faculty, staff and alumni are to be involved in recruitment planning and implementation. Colleges are to take a more active role in retaining students to meet college-specific enrollment targets. General Fund There are no significant variances between the Board-approved budget and actual revenues and expenditures. Tuition and Fees Special Fund Non-personnel expenditures are $1,414,623 or 43% less than projected. The reduction in spending is a result of lower than planned revenues due to a 4.3% decrease in enrollment. Research & Training Revolving Fund There are no significant variances between the Board-approved budget and actual revenues and expenditures. Other Special Funds Transfers (out) are $905,386 or 155% less than projected due to the timing of recording debt service payments in the Kuali Financial System (KFS). Debt service payments of about $901,000 were recorded in early October rather than the end of September as projected. Other Revolving Funds There are no significant variances between the Board-approved budget and actual revenues and expenditures. 11

24 WEST O AHU Enrollment Headcount enrollment at the UH West O`ahu measured 2,939 in fall 2016, a 9.2% increase over fall This total marked the thirteenth consecutive fall semester of enrollment growth. FY17 revenue projections estimated a 4% enrollment growth and a 4% tuition increase. Since the founding of the campus in 1976, enrollment at UH West O`ahu has had a persistent upward growth trend. The addition of lower division enrollment in fall 2007 put enrollment growth on a much steeper trajectory. In fall 2015, enrollment growth showed the first real signs of slowing. Given the population increases expected in the leeward and central areas of O`ahu, the ongoing distance education programs at the campus and the appeal of a new facility, enrollment demand at UH West O`ahu will remain strong. However, it should be expected that the rate of growth going forward will be considerably lower than in the recent past. General Fund There are no significant variances between the Board-approved budget and actual revenues and expenditures. Tuition and Fees Special Fund Majority of the TFSF transfers will occur during the first and third quarters for payment of debt services. Total debt service for the year is estimated to be about $4.2 million. Research & Training Revolving Fund There are no significant variances between the Board-approved budget and actual revenues and expenditures. Other Special Funds Transfer of scholarship funds from TFSF will occur in the second, third and fourth quarters. Due to the timing of the recordation of debt service payments in the Kuali Financial System (KFS), transfer out of Other Special Funds in the amount of $2,933, will be reflected in Q2 instead of Q1, as initially projected. Other Revolving Funds There are no significant variances between the Board-approved budget and actual revenues and expenditures. 12

25 COMMUNITY COLLEGES Enrollment Fall enrollment declined by 5.3% from the previous fall. The strengthening of the State s economy is a major contributing factor as some of our prospective students choose to enter the workforce instead of enrolling at the Community Colleges. Campus expenditure plans will be adjusted accordingly. The Community Colleges are implementing the following enrollment management approaches to address the decline: Expanded dual enrollment in high schools; improved communication and engagement of students from time of recruitment/application through the first weeks of the first semester; and initiated improvements in student success and student retention. General Funds There are no significant variances between the Board-approved budget and actual revenues and expenditures. Tuition and Fees Special Fund The budget shows a cash basis projection, while the revenue reported includes receivables. This discrepancy should normalize through the fiscal year as the receivables are collected. For Q1, TFSF Non-Personnel expenditure variance is due to a combination of factors. The Q1 budget amount is slightly high as it is based on a three year historical quarterly average, whereas the actuals have declined slightly each year. Q1 expenditure levels are also slightly lower, consistent with a decline in enrollment as compared to Fall Finally, the timing of expenditures between the first and second quarter vary from year to year depending on the requirements of the instructional and support units. Research & Training Revolving Fund There are no significant variances between the Board-approved budget and actual revenues and expenditures. Other Special Funds Other SF revenues are primarily from the Community Colleges Special Fund (CCSF) non-credit and Summer Session programs. The level of activity and timing of revenues collected from CCSF programs in particular, vary from year to year. The budgeted revenue reflects a quarterly cash basis projection while the reported actuals include receivables. This discrepancy should normalize through the fiscal year as receivables are collected. Other Revolving Funds There are no significant variances between the Board-approved budget and actual revenues and expenditures. 13

26 SYSTEMWIDE ADMINISTRATION General Funds Systemwide received its full General Fund allocation in Q1 as opposed to receiving a portion of the money in Q1 and the balance in Q2, as originally projected. Non-personnel expenditures were less than anticipated due in large part to a change in booking Information Technology Service (ITS) General Fund expenditures to TFSF accounts to improve budget management. In addition, there were unrealized expenses in areas such as travel, equipment, fee-based services, and printing. Tuition and Fees Special Funds The transfer variance was attributed to the following: Discontinuation of funding support from Mānoa for the System-level International Education program; Timing issue with the FY17 $220,530 ebuilder assessment to the campuses; and Timing issue with the transfer-out of approximately $1.1 million in ITS TFSF funds to an ITS special fund account for the IT Building debt service payment. Research and Training Revolving Fund The revenue variance stems from the accrued overhead income account. Overhead revenue from Federal and private contracts and grants are collected in an accrued overhead income account. Near the end of each quarter, revenue is drawn from the account and distributed to the campuses based on a quarterly allotment of their respective allocations. To reflect the quarterly revenue in the campus accounts, a timing issue is inherent in the accrued overhead income account throughout the fiscal year. The Non-personnel expenditure variance was attributed to the following: prior year encumbrances that were not reflected in s first quarter expenditure projections; a timing issue with expenses that were planned for Q2 but actually executed in Q1; and unbudgeted purchases that required review, such as software renewals and memberships. Other Special Funds The variance in Non-personnel expenditures was due to unanticipated expenses from the Risk Management Special Fund (RMSF) and the University Undertakings Fund. Payments on the RMSF totaling nearly $460,000 towards the Mauna Kea legal services contract were made in Q1, but were budgeted in Q4. In addition, settlement payments from RMSF of approximately $55,000 were made in Q1. Variances are inherent on the RMSF due to its self-insurance nature. It is difficult to accurately project the amount and timing of expenditures on the RMSF, as claims of 14

27 loss, settlements, judgments, and legal expenses invariably fluctuate throughout the year. Approximately $80,000 in unbudgeted contract payments occurred in Q1 on the University Undertakings Fund. The contract payments were for accounting and tax advisory services for post issuance compliance and legal advice and counsel on the University s revenue bonds. The transfer variance was largely due to a timing issue with the transfer-in of approximately $1.1 million from an ITS TFSF account to an ITS special fund account. The special fund account serves as a temporary placeholder from where funds are transferred out for the IT Building debt service payment. Since the payment was due on October 1, 2016, funds were transferred to the special fund account in Quarter 1; however the payment was not executed until Q2. Other Revolving Funds There were no significant variances between the Board-approved budget and actual revenues and expenditures. Comparison with FY 2016 As compared with the first quarter of FY16, the first quarter of FY17 yielded a rise in Personnel expenditures across all sources of funds. The rise was primarily attributed to collective bargaining increases as well as one-time lump sum bonuses to Bargaining Unit 8 Administrative, Professional and Technical employees. Nonpersonnel expenditures rose notably only in Other Special Funds and was largely due to legal expenses, settlements and judgments on the RMSF and the additional Mauna Kea legal services contract payments being absorbed by the RMSF in FY17. 15

28 Report to the University of Hawai i Board of Regents Committee on Budget and Finance First Quarter Financial Report For the Period Ending September 30, 2016

29 UNIVERSITY OF HAWAII First Quarter Financial Report for the Period Ending September 30, 2016 FY2017 Budget-to- YTD Difference % % GENERAL FUNDS Allocation 435,039, ,062,520 33,023,239 8% 432,084,364 35,978,156 8% Expenditures Personnel 112,380, ,869,369 (4,510,736) -4% 97,552,576 10,316,793 11% Non-Personnel (incl. trfs for B+) 2,318, ,101 (1,996,300) -86% 384,993 (62,892) -16% Utilities 266, ,088 5,385 2% 227,737 44,351 19% Total Expenditures 114,965, ,463,558 (6,501,651) -6% 98,165,306 10,298,252 10% - Expenditures 320,074, ,598, ,919,058 FY2017 Budget-to- YTD Difference % % TUITION & FEES SF (TFSF) Total 263,357, ,667,026 (84,690,824) -32% 182,588,434 (3,921,408) -2% Personnel 33,826,390 34,538, ,731 2% 34,964,990 (426,868) -1% Non-Personnel 23,547,468 21,039,215 (2,508,253) -11% 22,558,787 (1,519,572) -7% Utilities 12,677,337 9,861,984 (2,815,353) -22% 14,555,893 (4,693,910) -32% Transfers (3,749,779) 5,274,198 9,023, % 5,037, ,139 5% Total 66,301,416 70,713,518 4,412,102 7% 77,116,729 (6,403,211) -8% - 197,056, ,953, ,471,705 FY2017 Budget-to- YTD Difference % % RESEARCH & TRAINING RF (RTRF) Total 12,082,653 13,412,220 1,329,567 11% 4,334,776 9,077, % Personnel 3,993,789 4,476, ,585 12% 4,187, ,883 7% Non-Personnel 9,108,407 7,866,274 (1,242,133) -14% 8,755,125 (888,851) -10% Utilities 3,273,528 1,009,139 (2,264,389) -69% 422, , % Transfers (2,386,461) 1,328,818 3,715, % 1,316,447 12,371 1% Total 13,989,263 14,680, ,342 5% 14,681,446 (841) 0% - (1,906,610) (1,268,385) (10,346,670) FY17 1st Qtr BOR Financial Report ( )/UOH Page 1 of 12

30 UNIVERSITY OF HAWAII First Quarter Financial Report for the Period Ending September 30, 2016 FY2017 Budget-to- YTD Difference % % OTHER SPECIAL FUNDS Total 55,084,155 53,395,599 (1,688,556) -3% 50,305,086 3,090,512 6% Personnel 15,131,598 16,126, ,771 7% 15,036,402 1,089,968 7% Non-Personnel 42,916,195 40,980,426 (1,935,769) -5% 37,948,578 3,031,849 8% Utilities 2,395,930 2,234,128 (161,802) -7% 1,484, ,950 51% Transfers (22,669,150) 9,849,404 32,518, % 17,984,548 (8,135,144) -45% Total 37,774,573 69,190,328 31,415,755 83% 72,453,706 (3,263,378) -5% - 17,309,582 (15,794,729) (22,148,620) FY2017 Budget-to- YTD Difference % % OTHER REVOLVING FUNDS Total 16,004,439 15,612,840 (391,599) -2% 15,978,777 (365,936) -2% Personnel 2,642,282 2,728,702 86,420 3% 2,435, ,747 12% Non-Personnel 4,693,091 4,986, ,650 6% 4,066, ,262 23% Utilities 67,867 78,829 10,962 16% 18,586 60, % Transfers (134,000) 1, , % 23,363 (22,022) -94% Total 7,269,240 7,795, ,374 7% 6,544,384 1,251,230 19% - 8,735,199 7,817,227 9,434,393 FY2017 Budget-to- YTD Difference % FY17 1st Qtr BOR Financial Report ( )/UOH Page 2 of 12 % TOTAL, UOH Total 781,568, ,150,205 (52,418,173) -7% 685,291,437 43,858,767 6% Personnel 167,974, ,738,935 (2,235,229) -1% 154,177,413 11,561,522 7% Non-Personnel 82,583,562 75,194,758 (7,388,804) -9% 73,713,962 1,480,796 2% Utilities 18,681,365 13,456,168 (5,225,197) -28% 16,708,779 (3,252,611) -19% Transfers (28,939,390) 16,453,762 45,393, % 24,361,418 (7,907,657) -32% Total 240,299, ,843,622 30,543,921 13% 268,961,572 1,882,051 1% - 541,268, ,306, ,329,866

31 University of Hawaii - Manoa First Quarter Financial Report for the Period Ending September 30, 2016 FY2017 Budget-to- YTD Difference % % GENERAL FUNDS Allocation (including net transfers) 238,220, ,798,269 (7,422,550) -3% 215,711,521 15,086,748 7% Expenditures Personnel 60,150,360 58,121,758 (2,028,602) -3% 52,666,924 5,454,834 10% Non-Personnel 1,280,165 20,908 (1,259,257) -98% 83,844 (62,936) -75% Utilities budget = 0-72 prior yr = 0 Total Expenditures 61,430,525 58,142,738 (3,287,787) -5% 52,750,768 5,391,970 10% - Expenditures 176,790, ,655, ,960,753 FY2017 Budget-to- YTD Difference % % TUITION & FEES SF (TFSF) Total 207,750, ,874,952 (91,875,146) -44% 120,065,710 (4,190,758) -3% Personnel 23,533,467 23,914, ,533 2% 24,930,640 (1,016,639) -4% Non-Personnel 10,217,077 10,434, ,931 2% 9,516, ,382 10% Utilities 8,318,080 6,242,956 (2,075,124) -25% 11,102,387 (4,859,432) -44% Transfers (net) (6,762,526) 1,810,297 8,572, % 2,092,411 (282,114) -13% Total 35,306,098 42,401,261 7,095,163 20% 47,642,063 (5,240,802) -11% - 172,444,000 73,473,691 72,423,647 FY2017 Budget-to- YTD Difference % % RESEARCH & TRAINING RF (RTRF) Total 7,511,187 7,917, ,074 5% 7,534, ,888 5% Personnel 2,085,255 2,227, ,977 7% 2,600,623 (373,391) -14% Non-Personnel 5,190,287 3,401,642 (1,788,645) -34% 4,242,795 (841,153) -20% Utilities 3,252, ,650 (2,299,750) -71% 422, , % Transfers (net) (2,301,913) 1,328,818 3,630, % 1,448,123 (119,305) -8% Total 8,226,029 7,910,342 (315,687) -4% 8,713,925 (803,583) -9% - (714,842) 6,920 (1,179,552) FY17 1st Qtr BOR Financial Report ( )/UHM Page 3 of 12

32 University of Hawaii - Manoa First Quarter Financial Report for the Period Ending September 30, 2016 FY2017 Budget-to- YTD Difference % % OTHER SPECIAL FUNDS Total 46,798,139 42,911,886 (3,886,253) -8% 40,611,001 2,300,886 6% Personnel 10,080,319 10,820, ,968 7% 10,392, ,256 4% Non-Personnel 33,603,148 30,649,658 (2,953,490) -9% 29,844, ,451 3% Utilities 2,283,703 2,097,480 (186,223) -8% 1,315, ,162 59% Transfers (net) (22,272,616) 14,315,918 36,588, % 15,437,510 (1,121,592) -7% Total 23,694,554 57,883,343 34,188, % 56,989, ,277 2% - 23,103,585 (14,971,457) (16,378,065) FY2017 Budget-to- YTD Difference % % OTHER REVOLVING FUNDS Total 13,257,563 13,036,089 (221,474) -2% 13,148,374 (112,285) -1% Personnel 2,036,986 2,134,561 97,575 5% 1,911, ,077 12% Non-Personnel 3,858,486 4,366, ,299 13% 3,357,538 1,009,247 30% Utilities 67,620 69,957 2,337 3% 18,586 51, % Transfers (net) (134,000) 1, , % 23,517 (22,179) -94% Total 5,829,092 6,572, ,549 13% 5,311,124 1,261,517 24% - 7,428,471 6,463,448 7,837,250 FY2017 Budget-to- YTD Difference % FY17 1st Qtr BOR Financial Report ( )/UHM Page 4 of 12 % TOTAL, UH MANOA Total 513,537, ,538,458 (102,999,348) -20% 397,070,979 13,467,479 3% Personnel 97,886,387 97,217,838 (668,549) -1% 92,501,702 4,716,136 5% Non-Personnel 54,149,163 48,873,000 (5,276,163) -10% 47,045,009 1,827,991 4% Utilities 13,921,803 9,363,114 (4,558,689) -33% 12,858,675 (3,495,560) -27% Transfers (31,471,055) 17,456,372 48,927, % 19,001,561 (1,545,189) -8% Total 134,486, ,910,325 38,424,027 29% 171,406,946 1,503,379 1% - 379,051, ,628, ,664,033

33 University of Hawaii - Hilo First Quarter Financial Report for the Period Ending September 30, 2016 FY2017 Budget-to- YTD Difference % % GENERAL FUNDS Allocation (including net transfers) 35,030,101 34,724,895 (305,206) -1% 32,227,067 2,497,828 8% Expenditures Personnel 8,915,279 8,504,301 (410,978) -5% 7,683, ,248 11% Non-Personnel 119,154 3,400 (115,754) -97% 826 2, % Utilities budget = prior yr = 0 Total Expenditures 9,034,433 8,507,701 (526,732) -6% 7,683, ,822 11% - Expenditures 25,995,668 26,217,194 24,543,188 FY2017 Budget-to- YTD Difference % % TUITION & FEES SF (TFSF) Total 19,428,152 18,986,352 (441,800) -2% 19,023,434 (37,081) 0% Personnel 3,208,340 3,010,201 (198,139) -6% 3,331,718 (321,516) -10% Non-Personnel 3,255,007 1,840,384 (1,414,623) -43% 2,585,301 (744,917) -29% Utilities 1,176,540 1,047,215 (129,325) -11% 820, ,006 28% Transfers (net) 629, ,832 7,972 1% 261, , % Total 8,269,747 6,535,632 (1,734,115) -21% 6,998,834 (463,202) -7% - 11,158,405 12,450,720 12,024,599 FY2017 Budget-to- YTD Difference % % RESEARCH & TRAINING RF (RTRF) Total 973, ,022 (141,093) -14% 936,426 (104,404) -11% Personnel 32, , , % 90, , % Non-Personnel 1,117,672 1,422, ,337 27% 1,255, ,765 13% Utilities budget = prior yr = 0 Transfers (net) budget = 0 (7,500) 7, % Total 1,150,165 1,635, ,550 42% 1,338, ,052 22% - (177,050) (803,693) (402,238) FY17 1st Qtr BOR Financial Report ( )/UHH Page 5 of 12

34 University of Hawaii - Hilo First Quarter Financial Report for the Period Ending September 30, 2016 FY2017 Budget-to- YTD Difference % % OTHER SPECIAL FUNDS Total 3,444,126 3,559, ,884 3% 3,533,291 25,719 1% Personnel 478, ,567 (2,655) -1% 473,480 2,087 0% Non-Personnel 4,319,238 4,724, ,456 9% 3,276,008 1,448,687 44% Utilities 70,665 74,843 4,178 6% 76,803 (1,960) -3% Transfers (net) 584,060 (321,326) (905,386) -155% 707,255 (1,028,582) -145% Total 5,452,185 4,953,778 (498,407) -9% 4,533, ,232 9% - (2,008,059) (1,394,768) (1,000,255) FY2017 Budget-to- YTD Difference % % OTHER REVOLVING FUNDS Total 1,157,459 1,114,161 (43,298) -4% 1,135,200 (21,039) -2% Personnel 293, ,011 16,079 5% 265,341 44,670 17% Non-Personnel 172, ,353 (63,292) -37% 163,441 (54,089) -33% Utilities - 2,082 2,082 budget = 0-2,082 prior yr = 0 Transfers (net) budget = 0 (0) 0-100% Total 466, ,445 (45,132) -10% 428,783 (7,337) -2% - 690, , ,417 FY2017 Budget-to- YTD Difference % % TOTAL, UH HILO Total 60,032,953 59,216,440 (816,513) -1% 56,855,417 2,361,023 4% Personnel 12,928,266 12,513,481 (414,785) -3% 11,844, ,971 6% Non-Personnel 8,983,716 8,099,839 (883,877) -10% 7,280, ,019 11% Utilities 1,247,205 1,124,445 (122,760) -10% 897, ,433 25% Transfers 1,213, ,506 (897,414) -74% 961,363 (644,857) -67% Total 24,373,107 22,054,271 (2,318,836) -10% 20,983,705 1,070,566 5% - 35,659,846 37,162,169 35,871,712 FY17 1st Qtr BOR Financial Report ( )/UHH Page 6 of 12

35 University of Hawaii - West Oahu First Quarter Financial Report for the Period Ending September 30, 2016 FY2017 Budget-to- YTD Difference % % GENERAL FUNDS Allocation (including net transfers) 15,097,132 14,778,662 (318,470) -2% 13,230,292 1,548,370 12% Expenditures Personnel 3,511,486 3,632, ,361 3% 3,380, ,673 7% Non-Personnel 15,000 - (15,000) -100% 7,794 (7,794) -100% Utilities budget = prior yr = 0 Total Expenditures 3,526,486 3,632, ,361 3% 3,387, ,879 7% - Expenditures 11,570,646 11,145,815 9,842,324 FY2017 Budget-to- YTD Difference % % TUITION & FEES SF (TFSF) Total 8,716,563 8,988, ,213 3% 7,826,311 1,162,465 15% Personnel 1,263,875 1,302,934 39,059 3% 774, ,601 68% Non-Personnel 607, ,040 (66,460) -11% 362, ,705 49% Utilities 407, ,545 (155,205) -38% 276,384 (23,839) -9% Transfers (net) 3,913,714 2,935,120 (978,594) -25% 2,906,604 28,516 1% Total 6,192,839 5,031,639 (1,161,200) -19% 4,319, ,983 16% - 2,523,724 3,957,137 3,506,655 FY2017 Budget-to- YTD Difference % % RESEARCH & TRAINING RF (RTRF) Total 158,000 41,380 (116,620) -74% 31,301 10,079 32% Personnel budget = 0 33 (30) -92% Non-Personnel 26,345 10,585 (15,760) -60% 18,188 (7,603) -42% Utilities budget = prior yr = 0 Transfers (net) budget = prior yr = 0 Total 26,345 10,588 (15,757) -60% 18,221 (7,633) -42% - 131,655 30,792 13,080 FY17 1st Qtr BOR Financial Report ( )/UHWO Page 7 of 12

36 University of Hawaii - West Oahu First Quarter Financial Report for the Period Ending September 30, 2016 FY2017 Budget-to- YTD Difference % % OTHER SPECIAL FUNDS Total 61,650 38,476 (23,174) -38% 92,957 (54,481) -59% Personnel 8,750 35,397 26, % 4,390 31, % Non-Personnel 968,296 1,019,239 50,943 5% 1,021,117 (1,878) 0% Utilities budget = prior yr = 0 Transfers (net) (980,594) (2,933,120) (1,952,526) 199% 259 (2,933,379) % Total (3,548) (1,878,483) (1,874,935) 52845% 1,025,766 (2,904,249) -283% - 65,198 1,916,959 (932,809) FY2017 Budget-to- YTD Difference % % OTHER REVOLVING FUNDS Total 411, ,293 (1,207) 0% 380,213 30,080 8% Personnel 55,000 33,951 (21,049) -38% 35,849 (1,898) -5% Non-Personnel 98,250 68,461 (29,789) -30% 45,362 23,099 51% Utilities - 6,519 6,519 budget = 0-6,519 prior yr = 0 Transfers (net) budget = prior yr = 0 Total 153, ,932 (44,318) -29% 81,211 27,721 34% - 258, , ,002 FY2017 Budget-to- YTD Difference % % TOTAL, UH WEST OAHU Total 24,444,845 24,257,586 (187,259) -1% 21,561,074 2,696,513 13% Personnel 4,839,111 5,005, ,022 3% 4,194, ,354 19% Non-Personnel 1,715,391 1,639,326 (76,065) -4% 1,454, ,531 13% Utilities 407, ,064 (148,686) -36% 276,384 (17,320) -6% Transfers 2,933,120 2,000 (2,931,120) -100% 2,906,863 (2,904,863) -100% Total 9,895,372 6,905,523 (2,989,849) -30% 8,832,821 (1,927,299) -22% - 14,549,473 17,352,064 12,728,252 FY17 1st Qtr BOR Financial Report ( )/UHWO Page 8 of 12

37 University of Hawaii - Community Colleges First Quarter Financial Report for the Period Ending September 30, 2016 FY2017 Budget-to- YTD Difference % % GENERAL FUNDS Allocation (including net transfers) 132,730, ,361,642 (369,184) 0% 121,796,244 10,565,398 9% Expenditures Personnel 29,723,292 28,088,590 (1,634,702) -5% 25,550,575 2,538,014 10% Non-Personnel 112,223 18,412 (93,811) -84% 38,240 (19,828) -52% Utilities 226, ,062 17,044 8% 227,737 15,325 7% Total Expenditures 30,061,533 28,350,063 (1,711,470) -6% 25,816,552 2,533,511 10% - Expenditures 102,669, ,011,579 95,979,692 FY2017 Budget-to- YTD Difference % % TUITION & FEES SF (TFSF) Total 27,182,887 34,551,476 7,368,589 27% 35,385,760 (834,284) -2% Personnel 5,485,564 5,728, ,068 4% 5,705,580 23,052 0% Non-Personnel 8,487,143 7,219,323 (1,267,820) -15% 9,004,102 (1,784,780) -20% Utilities 2,773,139 2,289,217 (483,923) -17% 2,354,342 (65,126) -3% Transfers (net) 15,503 9,000 (6,503) -42% 10,250 (1,250) -12% Total 16,761,349 15,246,171 (1,515,178) -9% 17,074,275 (1,828,103) -11% - 10,421,538 19,305,305 18,311,485 FY2017 Budget-to- YTD Difference % % RESEARCH & TRAINING RF (RTRF) Total 425, , ,123 30% 656,951 (105,328) -16% Personnel 203, ,423 25,219 12% 240,106 (11,682) -5% Non-Personnel 625, ,994 (411,101) -66% 295,452 (81,458) -28% Utilities 1, (1,242) -97% - 43 prior yr = 0 Transfers (net) budget = prior yr = 0 Total 829, ,461 (387,123) -47% 535,558 (93,098) -17% - (404,084) 109, ,393 FY17 1st Qtr BOR Financial Report ( )/UHCC Page 9 of 12

38 University of Hawaii - Community Colleges First Quarter Financial Report for the Period Ending September 30, 2016 FY2017 Budget-to- YTD Difference % % OTHER SPECIAL FUNDS Total 4,126,886 6,231,818 2,104,932 51% 5,768, ,778 8% Personnel 4,238,054 4,467, ,731 5% 4,033, ,061 11% Non-Personnel 1,651,119 1,455,517 (195,602) -12% 1,393,040 62,477 4% Utilities 40,173 23,164 (17,009) -42% 92,057 (68,894) -75% Transfers (net) - (3) (3) budget = 0 2,090,131 (2,090,134) -100% Total 5,929,346 5,946,462 17,116 0% 7,608,951 (1,662,489) -22% - (1,802,460) 285,356 (1,840,912) FY2017 Budget-to- YTD Difference % % OTHER REVOLVING FUNDS Total 910, ,647 (58,190) -6% 1,091,832 (239,184) -22% Personnel 150, ,753 18,398 12% 157,784 10,969 7% Non-Personnel 390, ,314 (3,364) -1% 390,660 (3,346) -1% Utilities % prior yr = 0 Transfers (net) budget = 0-3 prior yr = 0 Total 541, ,197 15,088 3% 548,444 7,754 1% - 369, , ,388 FY2017 Budget-to- YTD Difference % % TOTAL, UH COMMUNITY COLLEGES Total 165,376, ,549,206 9,172,270 6% 164,698,826 9,850,380 6% Personnel 39,800,469 38,682,183 (1,118,286) -3% 35,687,768 2,994,415 8% Non-Personnel 11,266,258 9,294,559 (1,971,699) -18% 11,121,495 (1,826,936) -16% Utilities 3,040,691 2,555,612 (485,079) -16% 2,674,136 (118,524) -4% Transfers 15,503 9,000 (6,503) -42% 2,100,381 (2,091,381) -100% Total 54,122,921 50,541,354 (3,581,567) -7% 51,583,780 (1,042,425) -2% - 111,254, ,007, ,115,046 FY17 1st Qtr BOR Financial Report ( )/UHCC Page 10 of 12

39 University of Hawaii - Systemwide Programs First Quarter Financial Report for the Period Ending September 30, 2016 FY2017 Budget-to- YTD Difference % % GENERAL FUNDS Allocation (including net transfers) 13,960,403 55,399,052 41,438, % 49,119,240 6,279,812 13% Expenditures Personnel 10,079,688 9,521,873 (557,815) -6% 8,271,850 1,250,023 15% Non-Personnel 791, ,382 (512,477) -65% 254,290 25,092 10% Utilities 40,685 28,955 (11,730) -29% - 28,955 prior yr = 0 Total Expenditures 10,912,232 9,830,210 (1,082,023) -10% 8,526,139 1,304,070 15% - Expenditures 3,048,171 45,568,843 40,593,101 FY2017 Budget-to- YTD Difference % % TUITION & FEES SF (TFSF) Total 280, ,470 (14,680) -5% 287,220 (21,750) -8% Personnel 335, , ,209 74% 222, , % Non-Personnel 980,741 1,004,461 23,720 2% 1,090,424 (85,963) -8% Utilities 1,828 30,051 28, % 2,571 27, % Transfers (net) (1,546,330) (118,051) 1,428,279-92% (233,813) 115,762-50% Total (228,617) 1,498,815 1,727, % 1,081, ,913 39% - 508,767 (1,233,345) (794,682) FY2017 Budget-to- YTD Difference % % RESEARCH & TRAINING RF (RTRF) Total 3,014,851 4,069,933 1,055,082 35% (4,824,275) 8,894, % Personnel 1,672,837 1,807, ,478 8% 1,255, ,505 44% Non-Personnel 2,149,008 2,818, ,036 31% 2,943,445 (125,401) -4% Utilities 19,843 56,141 36, % - 56,141 prior yr = 0 Transfers (net) (84,548) - 84, % (124,175) 124, % Total 3,757,140 4,681, ,360 25% 4,075, ,420 15% - (742,289) (611,566) (8,899,354) FY17 1st Qtr BOR Financial Report ( )/UHSW Page 11 of 12

40 OTHER SPECIAL FUNDS University of Hawaii - Systemwide Programs First Quarter Financial Report for the Period Ending September 30, 2016 FY2017 Budget-to- YTD Difference % % Total 653, ,409 1,055 0% 299, , % Personnel 326, ,333 1,080 0% 132, , % Non-Personnel 2,374,394 3,131, ,924 32% 2,414, ,112 30% Utilities 1,389 38,642 37, % - 38,642 prior yr = 0 Transfers (net) - (1,212,065) (1,212,065) budget = 0 (250,607) (961,458) 384% Total 2,702,036 2,285,228 (416,808) -15% 2,296,377 (11,148) 0% - (2,048,682) (1,630,819) (1,996,578) FY2017 Budget-to- YTD Difference % % OTHER REVOLVING FUNDS Total 267, ,650 (67,430) -25% 223,158 (23,508) -11% Personnel 106,009 81,426 (24,583) -23% 65,498 15,928 24% Non-Personnel 173,032 54,828 (118,204) -68% 109,478 (54,650) -50% Utilities (27) -16% prior yr = 0 Transfers (net) budget = 0 (154) % Total 279, ,398 (142,814) -51% 174,822 (38,424) -22% - (12,132) 63,252 48,336 FY2017 Budget-to- YTD Difference % % TOTAL, UH SYSTEMWIDE PROGRAMS Total 18,175,838 60,588,515 42,412, % 45,105,142 15,483,373 34% Personnel 12,519,931 12,320,300 (199,631) -2% 9,948,654 2,371,646 24% Non-Personnel 6,469,034 7,288, ,999 13% 6,811, ,190 7% Utilities 63, ,932 90, % 2, , % Transfers (1,630,878) (1,330,115) 300,763-18% (608,749) (721,366) 118% Total 17,422,003 18,432,150 1,010,147 6% 16,154,319 2,277,831 14% - 753,835 42,156,365 28,950,823 FY17 1st Qtr BOR Financial Report ( )/UHSW Page 12 of 12