Board of Directors Meeting Agenda Item

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Augustus Franklin
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General Business Item: Action: X Discussion: Presentation: Information:

X Topic: Annual Financial Report for FHSAA, Inc.

observations, etc.): See Attached combined balance sheet for FHSAA, Inc.

and accompanying revenue and expense details for the General Fund for the

Executive Director Recommendation: Approve Rationale: Alternative to

records Data Source: FHSAA accounting records Impact: Final balance sheet

1 Sept. 26, 2016 I BOD Pkt. Page 17 Board of Directors Meeting Agenda Item Date: September26, 2016 General Business Item: Action: X Discussion: Presentation: Information: Committee Item: Committee: Action: Discussion: Presentation: Information: X Topic: Annual Financial Report for FHSAA, Inc Fiscal Year Detailed Information (brief statement--background, observations, etc.): See Attached combined balance sheet for FHSAA, Inc. and FHSAA Land Corp, Inc. and accompanying revenue and expense details for the General Fund for the fiscal year , ending on June 30, Executive Director Recommendation: Approve Rationale: Alternative to Recommendation: None requited annual document for audit and fiscal records Data Source: FHSAA accounting records Impact: Final balance sheet and income statement for Fiscal Year for the Association. Auditors will verify during annual audit. Linda D Robertson Individual/Committee Submitting Item Linda D Robertson FHSAA Staff Member Presenting Item Signakire Sinatur

Florida High School EHSAA Balance Sheet Fiscal Year End June 30, 2016 1 6 I B 0 D P k t. P a g e I 8 General Capital Funds - Operations Land Corp Total Assets Current Assets Petty Cash 100.00 0.

00 235,632.74 235,632.74 Money Mkt Suntrust 225,494.88 0.00 225,494.88 Money Mkt Regions 7,127.03 0.00 7,127.03 Investment Portfolio 3,889,318.85 0.00 3,889,318.

59 Accounts Receivable Accruals 150,294.19 0.00 150,294.19 Interest Receivable 18,266.13 0.00 18,266.13 Prepaid Expense 55,096.42 0.00 55,096.42 Prepaid Insurance 38,184.59 0.00 38,184.

43 2,277,702.43 Land 0.00 390,028.50 390,028.50 Accum Dep - furn, Equip, Comp 0.00 (55,104.87) (55,104.87) Accum Dep - Vehicles 0.00 (35,348.10) (35,348.10) Accum Dep - Buildings 0.00 (692,382.

00 3,000.00 Visa Credit Card 2,402.03 0.00 2,402.03 Wages Payable 26,292.01 0.00 26,292.01 Payable to John Hancock 3,567.27 0.00 3,567.27 Payable to Unum 203.91 0.00 203.

2 Florida High School EHSAA Balance Sheet Fiscal Year End June 30, I B 0 D P k t. P a g e I 8 General Capital Funds - Operations Land Corp Total Assets Current Assets Petty Cash Checking - General 86, , Payroll Clearing Checking - Regions 51, , Merchant 12, , Checking - Land Corp , , Money Mkt Suntrust 225, , Money Mkt Regions 7, , Investment Portfolio 3,889, ,889, Investment Portfolio - Regions 1,085, ,085, Allowance for Doubtful Account (10,079.20) 0.00 (10,079.20) Accounts Receivable 31, , Accounts Receivable Accruals 150, , Interest Receivable 18, , Prepaid Expense 55, , Prepaid Insurance 38, , Total Current Assets 5,640, , ,876, Fixed Assets Furniture, Equip, Computers , , Vehicles , , Buildings ,277, ,277, Land , , Accum Dep - furn, Equip, Comp 0.00 (55,104.87) (55,104.87) Accum Dep - Vehicles 0.00 (35,348.10) (35,348.10) Accum Dep - Buildings 0.00 (692,382.00) (692,382.00) Total Fixed Assets ,084, ,084, Total Assets 5,640, ,320, ,961, Liabilty and Fund Balance Liabilities Accounts Payable Accruals 3, , Visa Credit Card 2, , Wages Payable 26, , Payable to John Hancock 3, , Payable to Unum Payroll Taxes Payable 1, , Liability for Unclaimed Property Liability for Compensated Absences 145, , Deferred Revenue 182, , Total Liabilities 365, , Fund Balance Net Assets Current Year (71,698.77) (32,353.38) (104,052.15) Net Assets Prior Year 5,347, ,352, ,699, Total Fund Balance 5,275, ,320, ,595, Total Liabilty and Fund Balance 5.640, ,320, ,961,123.48

3 Sept. 26, 2016 I BOO Pkt. Page 19 Florida High School Athletic Association, Inc Fiscal Year Revenue $5,151,178 Dues& Fees $181,752 Fines 2% Invest & Other 3% $165,367 Servke/Offkat Fees 12% Chsmponships 24% $1,242,335 State SerIes PlaVoff 18% $920,802 J Expenses $5,222,877 Compliance $612,651 12% Util, Custodial, Insurance $275670

Sept. 26, 2016 I BOO Florida High School Athletic Association, Inc 2015-2016 Annual Financial Report Major Highlights Pkt. Page 110 GENERAL OPERATIONS FUND Revenue collected = $5,151,177.

Investment income was $65,608 more budgeted. 3. Corporate support in the area of sponsors, product donations, merchandise sales and TV/media contracts exceeded budget by $7,888. 4.

4 Sept. 26, 2016 I BOO Florida High School Athletic Association, Inc Annual Financial Report Major Highlights Pkt. Page 110 GENERAL OPERATIONS FUND Revenue collected = $5,151,177.87; Revenue was more than budget forecast by $89, Revenue was 1.77% higher than forecast 1. State Series events generated $123,842 more than budgeted. 2. Investment income was $65,608 more budgeted. 3. Corporate support in the area of sponsors, product donations, merchandise sales and TV/media contracts exceeded budget by $7, Official s registration fees and training fees were $18,948 less than budgeted. 5. Fines were less than budgeted by $23,375, the lowest amount in twelve years. Total fines collected were $92,825 and represent 2% of total revenue. 6. Corporate Event Contracts (Third Party Fees) were $30,490 less than budgeted. 7. Tournament fees and general fees to member schools were $30,586 less than budgeted. 8. Other revenues combined were $4,421 less than budgeted. Expenses = $5,222,876.64; Expenses were less than budgeted by $587, Expenses were 89.88% of the budget forecast 1. Salaries and Benefits were less than budgeted by $225,369 due to delay in filling nine staff positions during the year. 2. Travel for State Series and Committees was less than budgeted by $62,090 due, in part, from reduced number of staff and board traveling to events, changing Representative Assembly to one day and use of video conferencing. 3. Supplies, and trophies/medals spent a combined $70,537 less than budgeted partially due to restructuring Sportsmanship awards, and delaying Hall of fame awards to the Fall. 4. Professional Services were less than budgeted by $145,986 including investigative, legal fees and programming. Officials programming was the majority of the budget excess. 5. Game Officiating was $13,802 less than budgeted, primarily due to change in format for Girls Volleyball Finals. 6. Postage, phone, printing and other purchased services were $35,882 less than budgeted, due to printing and mailing fewer rule books and eliminating souvenir programs. 7. Loss reimbursements to member schools hosting state series events were $1 1,061 less than budgeted while team payouts for Finals were $12,122 more than budgeted. 8. All other combined areas cost $35,156 less than budgeted. Changes to Fund Balance: June 30, 2015 Fund Balance = $5,347, = 102% of revenue AddRevenue20l5-16= $5,151, Deduct Expenses = $(5,222,876.64) June 30, 2015 Fund Balance= $5,275, = 103% of revenue FHSAA Policy requires a fund balance no lower than 75% and no higher than 150%

01 - General Operations Florida High Annual Financial Report Revenues and Expense By Function 7/1/2015 Through 6/30/2016 I B 0 D P k t P a e I 11 Budget Budget Actual Remaining % Complete Revenues

5 01 - General Operations Florida High Annual Financial Report Revenues and Expense By Function 7/1/2015 Through 6/30/2016 I B 0 D P k t P a e I 11 Budget Budget Actual Remaining % Complete Revenues General Athletics 1,478, ,520, , % Championships 1,009, ,035, , % Officials 542, , (9,478.00) 98.25% Officials Camps 20, , (8,856.00) 55.72% Recognition 1, , (360.00) 80.00% Sponsors/Marketing 1,584, ,553, (30,802.08) 98.05% Eligibility/Compliance 173, , (34,814.89) 79.89% Other 251, , , % Total Revenues 5,061, ,151, , % Expenses General Athletics 1,445, ,396, , % Championships 717, , , % Officials 562, , , % Officials Camps 21, , , % General Admin 31, , , % Board/Exec Dir 531, , , % Info Services 87, , , % Recognition 136, , , % Sponsors/Marketing 27, , (8,550.84) % Fiscal Services 390, , (4,890.53) % Communications 862, , , % Eligibility/Compliance 748, , , % Custodial/Operations 2, , , % Other 83, , % Transfers 160, , % Total Expenses 5,810, ,222, , % Net Income (748,978.00) (71,698.77)

6 General restrict 01 - Operations Florida High School i?t 6 I B 0 D P k t. P a g e I 12 Annual Financial Report Revenue and Expense by GL Code 7/1/2015 Through 6/30/2016 Budget Percent Budget Actual Remaining Complete REV Toumaments/Invit , , (2,580.00) 95.83% Classics/Jamborees/Bowls , , (25,067.92) 92.37% District Playoff , , , % Regional Qtr , , ,726.2$ % Regional Semi , , , % Regional Final , , , % State Semi , , (5,256.00) 93.08% State Final , ,029, , % State Series Pass , , , % Education Fees , , (15,983.00) 80.67% Registration Fees , , (2,965.00) 99.43% Direct Sponsor , , , % Marketing Prog , , (33,970.00) 88.36% TV contracts , , (20,000.00) 96.55% Radio Fees , , , % Royalties , , , % Donations - unrest , , % Donations , , (100.00) 99.85% 3rd Party/Corporate Events , , (30,490.00) 79.49% Penalties/Fines , , (23,375.00) 79.88% Member Dues , , % FIAAA Dues , , % Legal Fees , , , % General Fee , , (25,533.74) 42.87% Appeals Fees , , (3,556.99) 79.07% Sales , , (9,080.00) 46.58% Interest Income , , (1,502.99) 98.41% Market Value Gain/Loss , , % Refunds of Prior Yr Exp , , % Miscellaneous % Total REV 5,061, ,151, $9, % EXP Salaries ,914, ,782, , % Overtime % Interns , , , % Auto Pay , , , % Other EmpI Pay , (1,000.00) 0.00% Retirement , , , % Social Security , , , % Group Insurance , , , % Worker Comp , , % Tuition , , (4,149.33) % Paid Time Off , , ,212.1$ 67.38% Professional Service , , , % Legal , , , % Accounting , , (235.90) % Investigative , , % Banking , , , %

01 - General Operations Annual Financial Report Revenue and Expense by GL Code 7/1/2015 Through 6/30/2016 6 I BOD Pkt.

7 01 - General Operations Annual Financial Report Revenue and Expense by GL Code 7/1/2015 Through 6/30/ I BOD Pkt. Page 113 Budget Percent YTD Budget - Original YTD Actual Remaining Complete Lobbying 5315 Other Prof Serv 5319 Insurance & Bond Premiums 5320 Travel Phone 5371 Internet/Cable 5372 Postage 5373 Other Communications 5379 Game Officiating 5391 Printing 5392 Court Reporter 5395 Trainers/Evaluators 5396 Other Puchased Service 5399 Supplies 5510 Books/Manuals 5520 Periodicals 5530 Trophies/Awards 5540 Clothing/softgoods 5560 Food/Meals 5570 Other Supplies 5590 Equip-NonCap 5641 Computers - Non-Cap 5643 Computer Software 5690 Scholarships 5710 Gifts & Donations 5715 Dues/Fees/Taxes 5730 Bad Debt 5740 Professional Development 5750 Refund of Prior Yr Revenue 5751 Loss Reimbursements 5760 Team Payouts 5770 Miscellaneous Expense 5790 To Capital Fund 5820 Total EXP Board Infraction Appeals Sectional Appeals Public Laison Rep Assembly Officials Advisory Sport Advisory Other Committee Repairs & Maintenance Rentals/Leases 245, , , % 92, , % 266, , , % 135, , , % 30, , , % 1, , % 10, , % 4, , ,439.1$ 64.02% 17, , , % 4, , % 38, , , % 13, , , % 13, , (8.33) % 1, , % 25, , , % 14, , , % 19, , , % 2, , % 108, , , % 46, , , % 10, , , % 25, , , % 35, , , % 68, , , % 137, ,570.9$ 8, % % 142, , , % 24, , , % 32, , , % 44, , , % 7, , , % 2, , % 5, , , % 40, , % 5, , , % 27, , % , (9,470.31) 0.00% $8, , , % % 68, , , % 420, , (12,121.98) % 9, , , % 160, , % 5,810, , , % NET INCOME (748,978.00) (71,698.77)

Linda D. Robertson. Associate Executive Director for Business September 2017

Linda D. Robertson. Associate Executive Director for Business September 2017 Linda D. Robertson Associate Executive Director for Business September 2017 Understanding the Budget 2017-18 Forecast: Beginning Balances (July 2017) $ 5,354,987 Plus Revenue (income) $ 5,620,630 Less