Statement of Revenue, Expense and Changes to Net Assets Quarter 2 YTD, FY Athletics Current Funds Excluding C&G [in thousands] Variance:

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1 Athletics Net Tuition and Fees n/a Private Gifts for Current Use 6,691 11,480 (4,789) -42% Variance is due to budget not being planned quarterly. Compared to FY16 Q2 we are on target quarterly. Investment Income (3) - (3) n/a Sales and Services 19,894 31,036 (11,141) -36% The variance is due to the budget not being planned quarterly to reflect seasonality of revenue. Total Revenue 26,582 42,516 (15,933) -37% Campus Support 3,816 3,930 (114) -3% External Transfers 2,296 2, % To/From Other Divisions (329) 296 (626) -211% Internal DIVISION Transfers (414) (396) (18) -5% Internal DEPARTMENT Transfers - (2,000) 2, % Operating Transfers 5,368 3,907 1,462 37% Total Revenue & Transfers 31,951 46,422 (14,472) -31% Academic Salaries & Wages n/a Staff Salaries & Wages 14,631 15, % Employee Benefits 5,596 5, % Total Compensation 20,227 21, % Supplies, Materials and Equipment AH 2,580 3,790 1,210 32% Scholarships and Fellowships AH 7,612 5,284 (2,329) -44% Variance due to budget not being planned quarterly. Other Operating Exp w-o Recharge Inc AH 11,876 15,708 3,831 24% Variance due to budget not being planned quarterly. Changed annual UHS payment of 1M to quartely payments. Adjustment: Total Non Compensation - Plan A - (2,000) (2,000) -100% The Budget Improvement Target has not yet been reforecast. Total Non Compensation without Recharge Income 22,068 22, % Total without Recharge Income 42,295 43,807 1,512 3% Total Recharge Income n/a Net Operating Surplus/(Deficit) (10,068) 2,615 (12,683) -485% From/(To) Regents Endow Pool 0 2,500 (2,500) -100% From/(To) Plant Funds (8,825) (11,769) 2,943 25% From/(To) All Other Fund Bal n/a - Pos/(Neg) (8,226) (9,269) 1,042 11% Change in Net Assets - Pos/(Neg) (18,294) (6,653) (11,641) -175% Beginning Balance (83) (83) Ending Balance (18,377) (6,737) (11,641) -173% 2/27/2017 6:35 PM

2 Cal Performances_SMA Net Tuition and Fees n/a Private Gifts for Current Use 2,988 2, % Investment Income 3-3 n/a Sales and Services 3,347 4,011 (664) -17% Operating budget not calendarized. 2nd half of season (jan - june) has many more performances and therefore higher revenues than July-Dec. Total Revenue 6,338 6,905 (566) -8% Campus Support 674 1,647 (973) -59% External Transfers 1, % To/From Other Divisions % Internal DIVISION Transfers n/a Internal DEPARTMENT Transfers - 14 (14) -100% Operating Transfers 2,114 2,550 (436) -17% Total Revenue & Transfers 8,452 9,454 (1,002) -11% Academic Salaries & Wages n/a Staff Salaries & Wages 2,811 2,776 (34) -1% Employee Benefits 1,065 1, % Total Compensation 3,876 4, % Supplies, Materials and Equipment AH (404) n/a Scholarships and Fellowships AH (21) -58% Other Operating Exp w-o Recharge Inc AH 4,443 5,447 1,004 18% Operating budget not calendarized. 2nd half of season (jan - june) has many more performances and therefore higher revenues than July-Dec. Total Non Compensation without Recharge Income 4,904 5, % Total without Recharge Income 8,780 9, % Total Recharge Income % Net Operating Surplus/(Deficit) % From/(To) Regents Endow Pool - 1,300 (1,300) -100% Operating budget submitted prior to request for $3.0mm endowment drawdown (1516: $1.7mm; 1617: $1.3mm) From/(To) Plant Funds (50) - (50) n/a From/(To) All Other Fund Bal n/a - Pos/(Neg) (50) 1,300 (1,350) -104% Change in Net Assets - Pos/(Neg) 579 1,835 (1,255) -68% Beginning Balance 2,674 2,674 Ending Balance 3,254 4,509 (1,255) -28% 2/27/2017 6:35 PM

3 Campus Support Core Net Tuition and Fees - 68 (68) -100% Private Gifts for Current Use (750) -100% Investment Income (0) - (0) n/a Sales and Services % Total Revenue (797) -87% Campus Support 19,522 20,570 (1,047) -5% External Transfers (123) -83% To/From Other Divisions 132 (110) % Internal DIVISION Transfers (318) -100% Internal DEPARTMENT Transfers n/a Operating Transfers 19,679 20,926 (1,246) -6% Total Revenue & Transfers 19,802 21,845 (2,043) -9% Academic Salaries & Wages % Staff Salaries & Wages 5,404 5, % Employee Benefits 2,466 2, % Total Compensation 7,880 8, % Supplies, Materials and Equipment AH (0) 0% Scholarships and Fellowships AH 1 - (1) n/a Other Operating Exp w-o Recharge Inc AH 2,626 3, % Total Non Compensation without Recharge Income 2,706 3, % Total without Recharge Income 10,586 12,182 1,596 13% Total Recharge Income n/a Net Operating Surplus/(Deficit) 9,216 9,663 (447) -5% From/(To) Plant Funds 3 (450) % From/(To) All Other Fund Bal n/a - Pos/(Neg) 3 (450) % Change in Net Assets - Pos/(Neg) 9,218 9, % Beginning Balance 4,736 4,736 Ending Balance 13,954 13, % $1.5M private gift from the Koret Foundation for the Visitor Center has not posted. The forecast has been updated to reflect this change. The Q2 data report reflects Planner data which is inaccurate as the Q1 report reflected the Operating Budget figure. Q2 figures are $900K lower due to $500K in deferred executive recruiting costs and $200K related to Public Affairs Maude Group PO (visitor center) expenses pending Capital Projects sign off. Additionally, OPHD has incurred $200K in legal fees that haven't been recharged by UCOP yet. 2/27/2017 6:35 PM

4 Art Mus & Pacific Film Archive Net Tuition and Fees n/a Private Gifts for Current Use 1,803 2,749 (946) -34% Investment Income (1) - (1) n/a We received a large gift for program expenses that reconciled in FY15/16 and is contained in our Beginning Balance figure. Also, our annual fundraising gala is scheduled for early May so many expected donations will not be reconciled until the end of June. Sales and Services (329) -42% Total Revenue 2,249 3,525 (1,276) -36% Campus Support 2,324 2, % External Transfers % To/From Other Divisions n/a Internal DIVISION Transfers n/a Internal DEPARTMENT Transfers - 20 (20) -100% Operating Transfers 3,410 3, % Total Revenue & Transfers 5,659 6,528 (868) -13% Academic Salaries & Wages % Staff Salaries & Wages 2,359 2, % Employee Benefits % Total Compensation 3,273 3, % Supplies, Materials and Equipment AH % Other Operating Exp w-o Recharge Inc AH 1,272 1, % Total Non Compensation without Recharge Income 1,611 2, % Total without Recharge Income 4,884 5, % Total Recharge Income n/a Net Operating Surplus/(Deficit) (137) -15% From/(To) Plant Funds n/a From/(To) All Other Fund Bal (0) - (0) n/a - Pos/(Neg) n/a Change in Net Assets - Pos/(Neg) (66) -7% Beginning Balance 4,563 4,563 Ending Balance 5,409 5,475 (66) -1% Our total amount estimated for Sales and Services is only $780,000, so as of the end of December we have already reconciled 58% of our full year budget. well as our HOFMANN tour expenses received and processed. Due to the exhibition schedules, expenses are usually higher in the second and 4th quarters of the fiscal year.

5 Univ Developmt and Alumni Rel Net Tuition and Fees n/a Private Gifts for Current Use 1, , % Pending designation gifts will be moved via fund balance transfer to campus by Q4. Gift proecssing errors also being corrected in Q3. (See 3A Var Private Gifts) Investment Income 1-1 n/a Sales and Services (152) -40% Total Revenue 1, , % Campus Support 26,850 52,534 (25,684) -49% External Transfers % To/From Other Divisions (1,272) (703) (569) -81% Internal DIVISION Transfers - 13,574 (13,574) -100% Full year base operating budget allocated in Q2 when budget was approved. (See 3A Var Internal Tfr) Internal DEPARTMENT Transfers n/a Operating Transfers 25,711 65,470 (39,760) -61% Total Revenue & Transfers 27,325 66,003 (38,679) -59% Academic Salaries & Wages n/a Staff Salaries & Wages 12,435 13,577 1,141 8% We do not anticipate a surplus at year end. Q3 and Q4 deficits in AICCP and AILIO will continue to grow from initial planner submission. (See 3A Var Salaries) Employee Benefits 5,503 6, % Total Compensation 17,938 19,678 1,740 9% Supplies, Materials and Equipment AH (47) -25% Scholarships and Fellowships AH 3 - (3) n/a Other Operating Exp w-o Recharge Inc AH 5,345 5, % Total Non Compensation without Recharge Income 5,585 5, % Total without Recharge Income 23,523 25,282 1,759 7% Total Recharge Income n/a Net Operating Surplus/(Deficit) 3,802 40,721 (36,920) -91% From/(To) Plant Funds n/a From/(To) All Other Fund Bal 0-0 n/a - Pos/(Neg) 0-0 n/a Change in Net Assets - Pos/(Neg) 3,802 40,721 (36,919) -91% Beginning Balance 1,111 1,111 Ending Balance 4,913 41,832 (36,919) -88%

6 Administration & Finance Forecast Q1 Net Tuition and Fees 69,419 38,339 31,079 81% Private Gifts for Current Use % Investment Income (1) - (1) n/a Sales and Services 6,509 6, % Nonoperating Revenue (76) -60% Total Revenue 76,167 45,040 31,127 69% Campus Support 180, ,855 (173) 0% External Transfers 1,063 1, % To/From Other Divisions (2,377) (1,369) (1,008) -74% Internal DIVISION Transfers (2,201) (3,050) % Internal DEPARTMENT Transfers (1,084) (1,092) 8 1% Operating Transfers 176, ,404 (321) 0% Total Revenue & Transfers 252, ,444 30,806 14% Academic Salaries & Wages (2) -7% Staff Salaries & Wages 70,539 70, % Employee Benefits 28,725 29,962 1,237 4% Total Compensation 99, ,747 1,457 1% Supplies, Materials and Equipment AH 6,248 6, % Scholarships and Fellowships AH % Other Operating Exp w-o Recharge Inc AH 58,701 60,199 1,497 2% Total Non Compensation without Recharge Income 64,962 66,855 1,893 3% Total without Recharge Income 164, ,602 3,350 2% Total Recharge Income 31,327 31, % Net Operating Surplus/(Deficit) 119,326 84,942 34,385 40% From/(To) Regents Endow Pool 0-0 n/a From/(To) Plant Funds (667) (738) 70 10% From/(To) All Other Fund Bal (7,690) (7,549) (140) -2% - Pos/(Neg) (8,357) (8,287) (70) -1% Change in Net Assets - Pos/(Neg) 110,969 76,655 34,315 45% Beginning Balance 33,625 33,625 Ending Balance 144, ,279 34,315 31%

7 Real Estate Net Tuition and Fees % Private Gifts for Current Use % Investment Income 1 3 (2) -61% Sales and Services 7,788 7, % Total Revenue 8,691 8, % Campus Support 65,660 65, % External Transfers <>1,000% To/From Other Divisions % Internal DIVISION Transfers 2,669 3,050 (381) -12% Internal DEPARTMENT Transfers - (22) % Operating Transfers 69,016 68, % Total Revenue & Transfers 77,707 76,639 1,068 1% Academic Salaries & Wages 3 - (3) n/a Staff Salaries & Wages 21,246 22, % Employee Benefits 9,518 10, % Total Compensation 30,767 32,217 1,450 5% Supplies, Materials and Equipment AH 1,867 1, % Scholarships and Fellowships AH 5 - (5) n/a Other Operating Exp w-o Recharge Inc AH 16,696 14,795 (1,901) -13% "Maximo" implementation & Custodial Contract Management Temporary Admin Labor Total Non Compensation without Recharge Income 18,567 16,736 (1,831) -11% Total without Recharge Income 49,334 48,953 (381) -1% Total Recharge Income 9,998 7,647 2,351 31% Q2 Working forecast is closer to $8.4M. Posted $500K of FY 16 income that was not realized in the FY17 Budget, will update forecast Net Operating Surplus/(Deficit) 38,371 35,333 3,038 9% From/(To) Plant Funds (8,217) (8,385) 167 2% From/(To) All Other Fund Bal (0) - (0) n/a - Pos/(Neg) (8,217) (8,385) 167 2% Change in Net Assets - Pos/(Neg) 30,154 26,949 3,206 12% Beginning Balance 10,345 10,345 Ending Balance 40,499 37,293 3,206 9%

8 Equity & Inclusion Div Net Tuition and Fees 1, % Private Gifts for Current Use 1, % Mostly due to election and campus-wide efforts to fundraise for undocumented students which was not budge Investment Income (1) (2) 1 59% Sales and Services 1,241 1, % Total Revenue 3,527 2,356 1,171 50% Campus Support 18,113 15,160 2,953 19% External Transfers 1,032 1,517 (484) -32% To/From Other Divisions (499) (826) % Internal DIVISION Transfers 0 (12) % Internal DEPARTMENT Transfers - 2 (2) -100% Operating Transfers 18,646 15,840 2,806 18% Total Revenue & Transfers 22,173 18,196 3,977 22% Academic Salaries & Wages (57) -26% Staff Salaries & Wages 5,391 5,253 (138) -3% Employee Benefits 2,349 2,314 (35) -1% Total Compensation 8,013 7,784 (230) -3% Supplies, Materials and Equipment AH % Scholarships and Fellowships AH % Still in process as funding received undocumented students, underground scholars etc. Other Operating Exp w-o Recharge Inc AH 2,694 2,691 (3) 0% Total Non Compensation without Recharge Income 3,256 3, % Total without Recharge Income 11,269 11, % Total Recharge Income 8 8-0% Net Operating Surplus/(Deficit) 10,912 6,861 4,051 59% From/(To) Plant Funds n/a From/(To) All Other Fund Bal n/a - Pos/(Neg) n/a Change in Net Assets - Pos/(Neg) 10,912 6,861 4,051 59% Beginning Balance 6,965 6,965 Ending Balance 17,877 13,826 4,051 29%

9 Student Affairs State Support - (0) 0 100% Net Tuition and Fees 17,559 9,212 8,346 91% Contracts & Grants % Private Gifts for Current Use 10,610 9,356 1,253 13% Investment Income (3) (1) (3) -349% Sales and Services 138,155 89,091 49,065 55% Nonoperating Revenue (0) 0 (0) <>1,000% Total Revenue 166, ,671 58,662 54% Campus Support 130, ,186 (14,140) -10% External Transfers 12,102 13,846 (1,744) -13% To/From Other Divisions 3,847 4,388 (541) -12% Internal DIVISION Transfers - (14,344) 14, % Internal DEPARTMENT Transfers - 15 (15) -100% Operating Transfers 145, ,091 (2,096) -1% Total Revenue & Transfers 312, ,762 56,566 22% Academic Salaries & Wages 1,853 1,668 (186) -11% Staff Salaries & Wages 47,692 46,893 (799) -2% Employee Benefits 20,420 20, % Total Compensation 69,966 69,008 (958) -1% FTE and salaries related to LDG Amplify project were projected to scale down as the development stage towards the end. However, the shrinking in academic salaries was not as fast as expected due to an adjustment of project timeline (LHS) Supplies, Materials and Equipment AH 5,262 4,456 (806) -18% $1.115M expenses are expected to be capitalized in the following month (SIS) Scholarships and Fellowships AH 62,485 69,154 6,669 10% Other Operating Exp w-o Recharge Inc AH 29,727 37,825 8,098 21% Total Non Compensation without Recharge Income 97, ,434 13,961 13% Total without Recharge Income 167, ,442 13,003 7% Total Recharge Income 10,805 7,314 3,491 48% Net Operating Surplus/(Deficit) 155,693 82,633 73,059 88% From/(To) Regents Endow Pool (3) (3) (1) -20% From/(To) Plant Funds (12,136) (15,920) 3,784 24% From/(To) All Other Fund Bal (0) 0 (0) <>1,000% - Pos/(Neg) (12,139) (15,922) 3,784 24% Change in Net Assets - Pos/(Neg) 143,554 66,711 76, % Beginning Balance 94,860 94,860 Ending Balance 238, ,570 76,843 48% $6.689M Late delivery and more limited functionality is resulting in delays in Financial Aid Student Office payments to students due to the new Campus Solutions System. (Fin Aid) $8.225M - $7.5M amortization entry by the Central Budget Office. Additional expenses ($.725k) that are going to be deferred and will be incurred in Q3. (SIS) 2/27/2017 6:37 PM