Financial Update Pokégnek Bodéwadmik. June 2014

Transcription

1 Financial Update Pokégnek Bodéwadmik June 2014

2 Gaming RAP Revenues Dividends Paid through 05/31/2014 and 16,000,000 14,000,000 12,000,000 10,000,000 8,000,000 6,000,000 4,000,000 2,000,000 Current Month YTD Dividend 57% 2,989,138 14,629,384 EDF 5% 262,205 1,283,279 GOV 38% 1,992,758 9,752,922 2 YTD

3 Eligible List November 30, 2013 Approved List 4,815 Citizens June 2014 Dividend Distribution 7 deceased 69 supplemental assistance program 4,739 distributions for June 2014 Per Cap Minors 1,965 accounts received a deposit for June 2014 Per Cap 3

4 Held Dividend Balances Balances held for 11 citizens for whom there has been no valid address available or have pending orders to stay totals $31, at 5/31/14 Prior months recycled balance for June 2014: $1, July 2014 Dividend potential balance to be recycled: $1,

5 Balance Sheet April 30, 2014 Dividends & Economic Government Minors Development TOTAL ASSETS Cash and cash equivalents $ 17,495,415 $ 30,422 $ 1,204,087 $ 18,729,925 Investments 12,786,568 61,958,590 11,309,955 86,055,114 Receivables 2,937,758 78,319 50,786 3,066,864 Other current assets 175, ,399 Property and equipment, net 66,181,770 66,181,770 TOTAL ASSETS $ 99,576,910 $ 62,067,332 $ 12,564,829 $ 174,209,071 LIABILITIES AND FUND BALANCES Liabilities Accounts payable & accrued $ 2,146,018 $ 32,601 $ $ 2,178,618 Deferred revenue 2,726,589 2,726,589 Notes payable 1,120,339 1,120,339 Total Liabilities 5,992,946 32,601 6,025,547 Fund Balances 93,583,964 62,034,731 12,564, ,183,524 TOTAL LIABILITIES AND FUND BALANCES $ 99,576,910 $ 62,067,332 $ 12,564,829 $ 174,209,071 5

6 Summary of Revenues Through 04/30/14 Dividends & Economic Government Minors Development TOTAL REVENUE Grants and contracts $ 4,750,144 $ $ 4,750,144 Investment income 96, ,024 59,599 1,091,614 RAP distributions 7,760,164 11,640,246 1,021,074 20,421,484 Other 3,615,234 3,615,234 TOTAL REVENUE $ 16,222,533 $12,575,270 $ 1,080,673 $ 29,878,476 6

7 Summary of Government Expenditures EXPENDITURES Through 04/30/14 Direct labor $ 3,182,626 7% Fringe benefits 1,616,575 Materials and supplies 492,077 Travel and training 387,569 Purchased services 1,154,383 24% 3% 66% Wages Payroll Taxes Insurances Pension Program services 4,102,861 Overhead 648,215 Indirect costs 1,178,482 Capital outlay 4,320,506 Total staffing costs thru 4/30/14 $4,799,201 or 28% of expenditures TOTAL EXPENDITURES $ 17,083,294 7

8 PROGRAM SERVICES Human Resources $ 12,948 Summary of Government Program Services Through 04/30/14 Human Resources Communications Communications Information Technology Finance 84 Christmas Gift to Citizens 85 Courts & Police Language & Culture 14,098 Brd's, Comm's, Commiss', Cncl's 262,702 23% 0% 0% 0% 0% 0% 0% 6% 7% 0% 21% Information Technology Finance Christmas Gift to Citizens Courts & Police Language & Culture Brd's, Comm's, Commiss', Cncl's Health Health 876,900 Social Services Social Services 1,739,202 43% Education Education 936,960 Housing Housing 259,882 Total Program Services $ 4,102,861 8

9 Summary of Government Expenditures by Department Through 04/30/14 Courts Public Safety Natural Resources Language & Culture 2% 1% 2% Gaming Commission 5% 2% 2% Brd's, Comm's, Commiss', Cncl's 26% 6% 5% Health Social Services Education 0% 2% 1% 3% 5% 4% 8% 13% 15% Housing Properties & Facilities Information Technology Human Resources Finance Christmas Gift to Citizen Admin & Resource Development General Counsel Communications 9

10 Tribal Council Overview of Expenditures Pokagon Band of Potawatomi Indians Tribal Council For the Four Months Ending April 30, 2014 YTD Annual % of Budget Actual Budget Used Expenditures Direct labor 110, , % Fringe benefits 17, , % Materials and supplies 22, , % Travel and training 20, , % Purchased services , % Program services 25, , % Overhead 15, , % Total Expenditures 212, , % 10

11 Gaming Authority Overview of Pokagon Band of Potawatomi Indians Pokagon Gaming Authority For the Four Months Ending April 30, 2014 Expenditures YTD Annual % of Budget Actual Budget Used Expenditures Direct labor 81, , % Fringe benefits 32, , % Materials and supplies 7, , % Travel and training 14, , % Purchased services 76, , % Program services 63, , % Overhead 10, , % Indirect costs 24, , % Total Expenditures 310, , % 11

12 Summary of Economic Development Transfers Through 04/30/14 EDF TRANSFERS Transfer for Operations Mno Bmadsen $ 3,700,000 Chi Ishobak 41,700 Indiana Projects 10,737 Capital Projects 128,292 Total Funding Support $ 3,880,729 12

13 Summary of Non-Grant Funded Capital Outlay Projects Planned for 2014 CAPITAL OUTLAY 2014 Budget Spent YTD Water Infrastructure $ 300,000 $ Health & Wellness Clinic 12,758, ,142 Cultural Center 1,200,000 5,885 Housing Projects 575,000 5,020 Court House 200,000 Contingency 410,000 Repatriated Lands 450, ,131 Total Capital Outlay $ 15,893,521 $ 1,120,178 13

14 Summary of Dividend and Minors Trust Expenditures Through 04/30/14 576,526 Distributions to Minors Adult Dividend Payments 6,800,040 14

15 Minors' Trust Growth Through 4/30/ ,000,000 60,000,000 50,000,000 40,000,000 30,000,000 20,000,000 10,000,000 12/31/07 12/31/08 12/31/09 12/31/10 12/31/11 12/31/ /31/2013 4/30/2014 Cumulative Contributions less Distributions 495,290 10,132,233 11,995,412 19,964,621 24,757,865 34,237,128 48,016,050 52,279,731 Cumulative Market Value of Investments 495,542 8,249,985 12,960,952 21,935,242 26,847,204 38,482,824 56,759,886 61,958,590 15

16 Summary Statement of Revenue & Expenditures Through 04/30/14 Dividends & Economic Government Minors Development TOTAL TOTAL REVENUE $ 16,222,533 $12,575,270 $ 1,080,673 $ 29,878,476 % Of Budget Achieved 92.72% 98.94% 79.52% 94.66% TOTAL EXPENDITURES $ 17,083,294 $ 7,376,566 $ 1,130,915 $ 25,590,774 % Of Budget Achieved % 96.10% 21.91% 87.35% REVENUE OVER(UNDER) EXPENDITURES $ ( 860,761 ) $ 5,198,704 $ ( 50,242 ) $ 4,287,701 % Of Budget Achieved 83.06% % 1.32% % 16

17 What s Happening in Finance? We will continue with our inventory project this summer. The Annual Rummage Sale as a result of the inventory project will take place the first week in August. Summer Garza our Accounting Analyst will be leaving us the first part July. We are currently seeking to fill this position. 17