Unrestricted Cash / Board Designated Cash & Investments December 2014

Size: px

Start display at page:

Download "Unrestricted Cash / Board Designated Cash & Investments December 2014"

Katrina Jacobs
5 years ago
Views:

Unrestricted Cash / Board Designated Cash & Investments December 2014 25.0 20.0 21.0 20.8 18.9 19.9 15.0 10.

1 Unrestricted Cash / Board Designated Cash & Investments December Jul 1 Jul 31 Aug 31 Sep 30 Oct 31 Nov 30 Dec 31 Jan 31 Feb 28 Mar 31 Apr 30 May 31 Jun 30 FY15 FY14 FY13 Board Designated Cash & Investments total $6.5 million (included in total).

2 Statement of Net Position December 31, 2014 ASSETS Current assets Total Prior Month Prior Year All Funds Totals Difference Totals Difference Cash and cash equivalents $ 3,733,309 $ 5,534,140 $ (1,800,831) $ 4,327,941 $ (594,632) Board Designated Cash 1,500, ,000 1,000, , ,000 Board Designated Investments 5,000,000 6,000,000 (1,000,000) 6,500,000 (1,500,000) Short-term investments 35,761 35,761-35,761 - Accounts receivable, net 3,093,726 2,915, , ,571 2,200,155 Loans to students 3,328,414 3,358,331 (29,917) 3,670,744 (342,330) Inventories and supplies, at cost 1,349,110 1,241, ,076 1,145, ,777 Bond issuance costs ,549 (657,549) Deposits and prepaid expenses 205, ,185 4, ,843 32,717 Total Current Assets 18,245,879 19,786,027 (1,540,148) 18,203,741 42,138 Noncurrent assets: Restricted cash & cash equivalents 9,619,193 12,223,096 (2,603,903) 2,333,554 7,285,640 Other long-term investments 39,527 39,527-39,956 (429) Capital assets, net 105,026, ,017,204 3,009,402 96,894,383 8,132,222 Total Noncurrent Assets 114,685, ,279, ,498 99,267,893 15,417,433 TOTAL ASSETS 132,931, ,065,855 (1,134,650) 117,471,634 15,459,571 LIABILITIES Current liabilities: Accounts payable and accrued liabilities 2,575,991 2,318, ,579 1,725, ,809 Deferred revenue 2,418,674 2,045, ,223 59,002 2,359,672 Total Current Liabilities 4,994,665 4,363, ,803 1,784,184 3,210,481 Noncurrent liabilities: Deposits 113, ,255 (9,580) 108,575 5,100 Deferred compensation 63,844 63,844-96,260 (32,416) Bonds payable 37,103,306 37,101,007 2,299 24,376,103 12,727,204 Notes payable 1,503,472 1,503, ,503,472 Capital lease payable 44,704 45,249 (545) 24,017 20,687 Accrued post-retirement liability 436, , , ,703 Accrued compensated absences 1,302,579 1,302,579-1,202, ,423 Deferred vending Commissions 107, ,000 (2,500) 137,500 (30,000) Deposits held in custody for others 272, , ,088 (41,912) Total Noncurrent Liabilities 40,947,273 40,957,599 (10,326) 26,531,012 14,416,261 TOTAL LIABILITIES 45,941,938 45,321, ,477 28,315,195 17,626,742 NET POSITION Invested in capital assets, net of related debt 74,370,144 73,966, ,189 73,542, ,321 Restricted for: Nonexpendable: Loans 3,822,524 3,822,524-3,979,049 (156,525) Expendable: Scholarships and fellowships 459, , ,985 (16,537) Capital projects 3,315,111 3,315,111-2,018,207 1,296,903 Debt service 10,566 10,566-4,615 5,951 Unrestricted 5,011,475 7,169,791 (2,158,316) 9,135,759 (4,124,284) TOTAL NET POSITION $ 86,989,267 $ 88,744,394 $ (1,755,127) $ 89,156,438 $ (2,167,171)

3 Statement of Revenues, Expenses, and Changes in Net Position % of Budget Actual Budget Budget Balance OPERATING REVENUES Student tuition and fees $ 14,706,365 $ 28,478,415 52% $ 13,772,050 Federal grants and contracts 1,107,008 2,999,700 37% 1,892,692 State and local grants and contracts 1,115, , % (258,576) Auxiliary enterprises 4,901,924 8,488,996 58% 3,587,072 Total Operating Revenues 21,830,873 40,824,111 18,993,238 OPERATING EXPENSES Compensation and benefits: Compensation 14,339,007 30,979,826 46% 16,640,819 Health insurance 1,402,341 2,954,000 47% 1,551,659 Other benefits 3,044,037 6,649,701 46% 3,605,664 Travel 544,964 1,406,380 39% 861,416 Contracted services 2,065,831 3,043,013 68% 977,182 Supplies and materials 2,411,433 4,059,267 59% 1,647,834 Utilities 1,239,418 2,625,152 47% 1,385,734 Depreciation and amortization 2,715,443 5,500,000 49% 2,784,557 Scholarships 10,851,822 20,986,107 52% 10,134,286 Repairs and maintenance 729,993 1,128,666 65% 398,673 Other operating expenses 3,081,953 3,021, % (60,433) Total Operating Expenses 42,426,243 82,353,632 39,927,389 Operating Income (Loss) (20,595,370) (41,529,521) (20,934,151) NONOPERATING REVENUES (EXPENSES) State appropriations (Net of Governor's withholding) 11,574,927 23,459,664 49% 11,884,737 Institutional contingency - (500,000) (500,000) Private gifts 1,032,125 1,869,974 55% 837,849 Investment income, net of investment exp 123,535 34, % (89,035) Interest on capital asset--related debt (609,543) (1,246,970) 49% (637,427) Federal Pell Grants 6,169,279 12,000,000 51% 5,830,721 Other nonoperating revenues 699,774 2,396,400 29% 1,696,626 Total nonoperating revenues (expenses) 18,990,097 38,013,568 19,023,471 Income (Loss) Before Other Revenues (1,605,273) (3,515,953) (1,910,680) OTHER REVENUES Capital gifts and grants 1,416,250 - (1,416,250) Total other revenues 1,416,250 - (1,416,250) Increase (Decrease) in Net Position $ (189,022) $ (3,515,953) $ (3,326,930)

4 Comparative Statement of Revenues, Expenses, and Changes in Net Position Year-To-Date Totals Current Month Totals Current Prior Current Prior Year Year Difference Year Year Difference CURRENT OPERATING REVENUES Student tuition and fees $ 14,706,365 $ 14,662,822 $ 43,543 $ (10,912) $ (4,983) $ (5,929) Federal grants and contracts 1,107,008 1,043,792 63,216 90,634 26,939 63,695 State and local grants and contracts 1,115, , ,858 (1) 16,235 10,683 5,552 Auxiliary enterprises 4,901,924 4,895,512 6, ,860 (303,492) Total Operating Revenues 21,830,873 21,502, ,030 96, ,499 (240,173) CURRENT OPERATING EXPENSES Compensation and benefits: Compensation 14,339,007 14,043, ,965 (2) 2,579,755 2,549,735 30,020 Health insurance 1,402,341 1,389,091 13, , ,953 40,398 Other benefits 3,044,037 3,013,895 30, , ,175 4,198 Travel 544, ,240 42, ,353 83,787 61,566 Contracted services 2,065,831 1,877, ,058 (3) 298, , ,626 Supplies and materials 2,411,433 2,547,497 (136,064) (4) 246, ,077 90,256 Utilities 1,239,418 1,180,310 59, , , Depreciation and amortization 2,715,443 2,835,738 (120,295) 449, ,340 (19,374) Scholarships 10,851,822 10,350, ,867 (5) 75,587 86,591 (11,004) Repairs and maintenance 729, ,485 92,508 66,078 71,948 (5,870) Other operating expenses 3,081,953 2,060,208 1,021,745 (6) 300, ,388 92,780 Total Operating Expenses 42,426,243 40,438,235 1,988,008 5,168,810 4,721, ,494 Operating Income (Loss) (20,595,370) (18,935,392) (1,659,978) (5,072,484) (4,384,817) (687,667) NONOPERATING REVENUES (EXPENSES) State appropriations (Net Governor's withholding) 11,574,927 11,265, ,801 (7) 1,980,789 1,877, ,268 Private gifts 1,032, ,172 76,953 62,549 79,633 (17,084) Investment income, net of investment exp 123,535 65,591 57,944 19,180 9,481 9,699 Interest on capital asset--related debt (609,543) (598,650) (10,892) (2,377) (4,205) 1,828 Federal Pell Grants 6,169,279 6,221,583 (52,304) 22,762 16,746 6,016 Other nonoperating revenues (expenses) 699, ,599 66, ,729 81,042 36,687 Total nonoperating revenues (expenses) 18,990,097 18,542, ,677 2,200,632 2,060, ,414 Income (Loss) Before Other Revenues (1,605,273) (392,971) (1,212,302) (2,871,852) (2,324,599) (547,253) OTHER REVENUES Capital gifts and grants 1,416, ,158 1,061,092 (8) 1,116,725-1,116,725 Total other revenues 1,416, ,158 1,061,092 1,116,725-1,116,725 Increase (Decrease) in Net Position $ (189,022) $ (37,814) $ (151,210) $ (1,755,127) $ (2,324,599) $ 569,472 Explanation Notes to Year-To-Date "Difference" Column: (1) State grants change is primarily from increased Access Missouri awards. (2) Compensation increase from across the board raise and promotions; filling of vacant positions; and hiring for new positions. (3) Contract services change due to increased costs and additional software purchases. (4) Supplies decrease from costs in the prior year that included one time purchases and grant expenses for now completed grants. (5) Scholarships current year increase from additional institutional awards due to change in award policy and Access Missouri awards from increased grant amount and more students. (6) Other operating expenses increase from the purchase of Residence Hall furniture and appliances and adjustments for year-end accruals. (7) Appropriations increase is from the performance funding distribution. (8) Current year includes gifts for the Baseball Stadium.

5 Cash Flow Statement Current Month Prior Month Prior Year Notes Balance Balance Difference Balance Difference 7/1/14 7/1/14 7/1/13 Beginning Unrestricted Cash Balance - July 1st 4,950,030 4,950,030-5,461,073 (511,043) Beginning Board Cash & Investments - July 1st 6,500,000 6,500,000-7,300,000 (800,000) Sub-Total Beginning Balance - July 1st 11,450,030 11,450,030-12,761,073 (1,311,043) Beginning Restricted Cash Balance - July 1st 19,252,035 19,252,035-2,527,089 16,724,946 Total Beginning Balance - July 1st A 30,702,065 30,702,065-15,288,162 15,413,903 Financial Transactions: Increase (Decrease) in Net Position B (189,022) 1,566,105 (1,755,127) (37,814) (151,208) (Increase) Decrease in student receivables C 278, ,273 (178,150) 747,435 (469,312) Depreciation & amortization D 2,715,443 2,265, ,966 2,835,738 (120,295) Bond Liability Accounts E (1,978,768) (1,981,067) 2,299 (938,492) (1,040,276) Capital asset expenditures F (10,440,800) (7,026,432) (3,414,368) (1,768,302) (8,672,498) Board Designated Cash & Investments G Changes in other assets & liabilities H (1,234,539) (1,725,183) 490,644 (2,165,233) 930,693 Net Increase (Decrease) in Cash (10,849,563) (6,444,828) (4,404,735) (1,326,668) (9,522,895) 12/31/14 11/30/14 12/31/13 Ending Cash Balance I 19,852,502 24,257,237 (4,404,735) 13,961,494 5,891,008 Summary: Unrestricted Cash Balance 3,733,309 5,534,140 (1,800,831) 4,327,941 (594,632) Board Designated Cash & Investments 6,500,000 6,500,000-7,300,000 (800,000) Total Unrestricted & Board Designated 10,233,309 12,034,140 (1,800,831) 11,627,941 (1,394,632) Restricted Cash Balance 9,619,193 12,223,096 (2,603,903) 2,333,553 7,285,640 Total 19,852,502 24,257,237 (4,404,735) 13,961,494 5,891,008 Notes: A Agrees with July 1 cash and cash equivalents on the Statement of Net Assets. B Per Statement of Revenues, Expenses and Changes in Net Assets. C This is the amount of tuition recorded as revenue which has not been paid yet. D These are noncash transactions required by GASB. E Payments on bond principle plus noncash bond transactions over the life of the bond issues. F Payments on capital assets plus some minor construction expenditures. G Board Designated Cash & Investments H Cash received or paid for other receivables, inventories and payables. I Agrees with ending cash and cash equivalents (including restricted cash) on the Statement of Net Assets.

Unrestricted Cash / Board Designated Cash & Investments December 2015

Unrestricted Cash / Board Designated Cash & Investments December 2015 25.0 21.0 20.0 19.5 18.9 18.1 16.8 16.5 15.9 15.0 10.0 11.0 12.8 9.1 10.4 9.8 11.1 14.7 14.2 14.1 9.9 12.0 8.4 13.0 10.2 11.6 14.9