of HAWAIi UNIVERSITY 16 MAY12 P2:19 SUBJECT: HIvHSI;Y 3F HAtAH EOAkD OF REGENI S May 12, 2016 rn -I Jan Sullivan, Chair Budget and Finance Committee

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1 UNIVERSITY of HAWAIi SYSTEM HIvHSI;Y 3F HAtAH EOAkD OF REGENI S 16 MAY12 P2:19 Kalbert K. Young Vice President for Budget and Finance Chief Financial Officer May 12, 2016 TO: Jan Sullivan, Chair Budget and Finance Committee -0 rn -I VIA: David Lassner President r%j FROM: Kalbert K. Young Vice President for iet and Finance/Chief Financial Officer SUBJECT: FY 16 Third Quarter Financial Report as of March 31, 2016 Attached is the FY16 Third Quarter Financial Report for the period ending March 31, 2016 for the University of Hawai i System. This report is an information item for discussion at the Budget and Finance Committee meeting on May 18, To complement this Third Quarter Financial Report a slide deck presentation which summarizes a high-level analysis fo the report is also included. The Vice President for Budget and Finance is anticipated to present this as an agenda item before the committee and will be available for any questions of members. Attachments c: University Budget Office (wlo Attachments) University Controller (w/o Attachments) 2444 Dole Street, Bachman Hall, Room 201 Honolulu, Hawai i Telephone: (808) Fax: (808) An Equal Opportunity/Affirmative Action Institution

2 Report to the University of Hawaii Board of Regents Committee on Budget and Finance FY 2016 Quarterly Financial Report for General, Special and Revolving Funds For the Period Ending March 31, 2016 Page 1 of 49

3 Summary of Revenue & Expenditures, Unencumbered Cash by Campus Page 2 of 49

4 University of Hawaii - FY 2016 Quarterly Financial Report for General, Special and Revolving Funds Summary of Revenue & Expenditures, Unencumbered Cash by Campus Sub-Fund 07/01/15 Carryforward Cash Revenue/ Appropriation Revenue/Expenditures YTD FY 2016 Unencumbered Cash as of 03/31/16 Expenditures/ Balance Cash Encumbrances Unencumbered Cash 2/ FY 2016 Reserve Targets 1/ 5% (Exec Policy) 16% (BOR Policy) FY 2015 Unencumbered Cash as of 03/31/15 UH Mānoa General Funds $223,007,041 $171,270,276 $51,736,765 $51,736,765 $30,364 $51,706,401 n/a n/a $45,752,960 Tuition and Fees Special Fund $18,866,039 $229,263,987 $132,609,213 $115,520,813 $109,188,511 $9,216,174 $99,972,337 $21,378,838 $68,412,280 $75,851,108 Other Special Funds 3/ $81,171,740 $86,678,852 $130,883,811 $36,966,781 $36,691,144 $9,652,171 $27,038,974 $4,469,442 $14,302,215 $24,542,025 Research and Training Revolving Fund $19,135,420 $15,055,888 $24,225,788 $9,965,520 $10,061,051 $1,500,332 $8,560,718 $1,726,491 $5,524,771 $20,084,723 Other Revolving Funds $13,765,320 $27,024,373 $17,277,708 $23,511,985 $23,019,816 $1,935,073 $21,084,742 $1,310,918 $4,194,939 $18,679,564 Total, UH Mānoa $132,938,519 $581,030,140 $476,266,796 $237,701,864 $230,697,287 $22,334,114 $208,363,172 $28,885,689 $92,434,205 $184,910,380 UH Hilo General Funds $32,904,965 $23,669,953 $9,235,012 $9,235,012 $34,258 $9,200,753 n/a n/a $7,165,711 Tuition and Fees Special Fund $15,837,003 $36,259,583 $22,158,556 $29,938,030 $30,098,950 $2,750,360 $27,348,590 $3,461,024 $11,075,278 $26,926,226 Other Special Funds 3/ $4,791,127 $8,776,204 $12,404,945 $1,162,386 ($88,681) $626,961 ($715,643) $376,152 $1,203,688 ($1,424,916) Research and Training Revolving Fund $463,308 $1,872,851 $3,256,778 ($920,619) ($919,071) $73,637 ($992,708) $153,049 $489,757 ($198,160) Other Revolving Funds $2,068,411 $2,174,219 $1,533,924 $2,708,706 $2,691,963 $163,202 $2,528,761 $122,437 $391,798 $2,517,365 Total, UH Hilo $23,159,849 $81,987,822 $63,024,156 $42,123,515 $41,018,172 $3,648,419 $37,369,753 $4,112,662 $13,160,520 $34,986,226 UH West O ahu General Funds $14,310,281 $10,601,441 $3,708,840 $3,708,840 $9,395 $3,699,444 n/a n/a $4,400,003 Tuition and Fees Special Fund $4,919,471 $14,732,947 $11,529,189 $8,123,229 $7,809,584 $933,814 $6,875,769 $1,127,025 $3,606,479 $4,526,890 Other Special Funds 3/ $792,672 $443,401 $13,606 $1,222,467 $1,222,416 $39,576 $1,182,841 $19,644 $62,862 $646,556 Research and Training Revolving Fund $88,488 $70,102 $64,683 $93,906 $93,906 $65,000 $28,906 $3,377 $10,807 $13,214 Other Revolving Funds $704,414 $820,723 $328,047 $1,197,090 $1,146,773 $23,735 $1,123,039 $24,603 $78,729 $818,529 Total, UH West O ahu $6,505,045 $30,377,454 $22,536,967 $14,345,531 $13,981,519 $1,071,520 $12,909,999 $1,174,649 $3,758,877 $10,405,191 Community Colleges General Funds $125,637,803 $88,968,336 $36,669,467 $36,669,467 $0 $36,669,467 n/a n/a $28,056,095 Tuition and Fees Special Fund $13,496,533 $66,395,617 $50,075,589 $29,816,560 $27,457,085 $4,591,456 $22,865,629 $9,229,952 $29,535,845 $22,542,620 Other Special Funds $25,620,263 $11,837,948 $12,463,877 $24,994,335 $25,928,273 $4,389,821 $21,538,452 $806,682 $2,581,383 $20,049,428 Research and Training Revolving Fund $2,440,709 $1,338,903 $1,329,609 $2,450,002 $2,450,382 $186,273 $2,264,109 $83,863 $268,360 $2,977,262 Other Revolving Funds $2,832,094 $2,142,477 $1,770,159 $3,204,412 $3,173,281 $304,726 $2,868,555 $112,747 $360,789 $2,811,436 Total, Community Colleges $44,389,598 $207,352,748 $154,607,571 $97,134,775 $95,678,487 $9,472,276 $86,206,211 $10,233,243 $32,746,378 $76,436,841 Last Updated: May 3, 2016 File: FY16 BOR Qtrly Report - Qtr3 Final : Rev, Exp, Unenc Cash Page 3 of 49

5 University of Hawaii - FY 2016 Quarterly Financial Report for General, Special and Revolving Funds Summary of Revenue & Expenditures, Unencumbered Cash by Campus Sub-Fund 07/01/15 Carryforward Cash Revenue/ Appropriation Revenue/Expenditures YTD FY 2016 Unencumbered Cash as of 03/31/16 Expenditures/ Balance Cash Encumbrances Unencumbered Cash 2/ FY 2016 Reserve Targets 1/ 5% (Exec Policy) 16% (BOR Policy) FY 2015 Unencumbered Cash as of 03/31/15 Systemwide Programs General Funds $41,542,249 $27,990,183 $13,552,066 $13,552,066 $90,368 $13,461,698 n/a n/a $11,666,303 Tuition and Fees Special Fund $7,767,702 $555,540 ($942,679) $9,265,921 $9,260,693 $3,105,618 $6,155,075 $1,988,855 $6,364,334 $4,709,148 Other Special Funds $12,554,362 $4,638,415 $2,405,942 $14,786,835 $14,498,909 $1,233,287 $13,265,622 $227,291 $727,330 $12,096,835 Research and Training Revolving Fund 4/ $553,759 $16,625,483 $9,664,614 $7,514,629 $10,316,185 $1,962,818 $8,353,368 $595,025 $1,904,080 ($8,083,723) Other Revolving Funds $2,509,479 $937,822 $733,960 $2,713,341 $2,713,341 $256,989 $2,456,352 $28,259 $90,427 $2,346,210 Total, Systemwide Programs $23,385,302 $64,299,509 $39,852,021 $47,832,791 $50,341,194 $6,649,080 $43,692,114 $2,839,429 $9,086,172 $22,734,773 UH SYSTEM TOTALS General Funds $437,402,339 $322,500,191 $114,902,148 $114,902,148 $164,385 $114,737,763 n/a n/a $97,041,072 Tuition and Fees Special Fund $60,886,748 $347,207,673 $215,429,867 $192,664,553 $183,814,823 $20,597,422 $163,217,401 $37,185,693 $118,994,216 $134,555,992 Other Special Funds $124,930,165 $112,374,820 $158,172,181 $79,132,803 $78,252,062 $15,941,816 $62,310,246 $5,899,212 $18,877,477 $55,909,927 Research and Training Revolving Fund $22,681,684 $34,963,226 $38,541,472 $19,103,438 $22,002,452 $3,788,061 $18,214,392 $2,561,805 $8,197,776 $14,793,316 Other Revolving Funds $21,879,718 $33,099,615 $21,643,799 $33,335,534 $32,745,173 $2,683,725 $30,061,448 $1,598,963 $5,116,682 $27,173,104 GRAND TOTAL, UH SYSTEM $230,378,314 $965,047,673 $756,287,511 $439,138,476 $431,716,658 $43,175,409 $388,541,250 $47,245,672 $151,186,152 $329,473,410 1/ Calculated as 5% or 16 FY 2015 Expenditures/. (For TFSF, calculated as 5% or 16 General Fund and TFSF Expenditures/.) 2/ Operating reserves, to be compared to the FY 2016 Reserve Targets as defined by Executive/BOR policies. 3/ Includes expenditures for tuition scholarships. These expenditures are covered by a transfer of cash from the TFSF in the 4th Quarter. 4/ In SLH2009 & SLH2010, $5.5 million was swept by the Legislature in RTRF funds. VPRI office (Systemwide Programs) will repay this out of their allocation over a 22 year period as to not impact the campuses. Last Updated: May 3, 2016 File: FY16 BOR Qtrly Report - Qtr3 Final : Rev, Exp, Unenc Cash Page 4 of 49

6 Revenue by Campus Page 5 of 49

7 University of Hawaii - FY 2016 Quarterly Financial Report for Special and Revolving Funds Revenue by Campus FY 2016 Year-to-Date FY 2015 Sub-Fund Projected Revenue Quarter 1 Quarter 2 Quarter 3 Quarter 4 Revenue Projected Revenue as of 03/31/15 Total for FY FY15 Total UH Mānoa Tuition and Fees Special Fund (see Note) $220,169,550 $120,065,710 $80,674,113 $28,524,164 $0 $229,263, % 1/ $218,335, % 214,837,431 Other Special Funds $108,286,947 $40,611,001 $27,137,656 $18,930,195 $0 $86,678,852 80% $88,959,700 88% 100,532,788 Research and Training Revolving Fund $29,682,406 $7,534,373 $0 $7,521,514 $0 $15,055,888 51% 2/ $26,297,979 79% 33,134,222 Other Revolving Funds $29,440,500 $13,148,374 $9,949,138 $3,926,861 $0 $27,024,373 92% 3/ $27,319, % 26,523,363 Total, UH Mānoa $387,579,403 $181,359,458 $117,760,907 $58,902,734 $0 $358,023,099 92% $360,912,897 96% 375,027,804 UH Hilo Tuition and Fees Special Fund (see Note) $37,308,249 $19,023,434 $15,993,979 $1,242,170 $0 $36,259,583 97% 1/ $36,654,077 98% 37,443,534 Other Special Funds $7,342,246 $3,533,291 $3,026,370 $2,216,543 $0 $8,776, % 4/ $9,124, % 7,565,906 Research and Training Revolving Fund $3,828,502 $936,426 $936,426 $0 $0 $1,872,851 49% 5/ $2,310,493 82% 2,830,493 Other Revolving Funds $2,330,217 $1,135,200 $834,843 $204,176 $0 $2,174,219 93% $2,032,169 93% 2,182,928 Total, UH Hilo $50,809,214 $24,628,350 $20,791,618 $3,662,888 $0 $49,082,857 97% $50,121, % 50,022,861 UH West O ahu Tuition and Fees Special Fund (see Note) $14,402,398 $7,826,311 $6,333,542 $573,094 $0 $14,732, % 1/ $13,077,867 96% 13,576,921 Other Special Funds $253,105 $92,957 $39,405 $311,039 $0 $443, % $540,865 89% 609,797 Research and Training Revolving Fund $140,203 $31,301 $38,801 $0 $0 $70,102 50% $83,595 56% 148,595 Other Revolving Funds $801,661 $380,213 $322,687 $117,823 $0 $820, % $758,514 95% 801,988 Total, UH West O ahu $15,597,367 $8,330,782 $6,734,435 $1,001,956 $0 $16,067, % $14,460,841 96% 15,137,300 Community Colleges Tuition and Fees Special Fund (see Note) $65,139,243 $35,385,760 $27,199,559 $3,810,298 $0 $66,395, % 1/ $66,044,219 99% 66,798,904 Other Special Funds $20,555,227 $5,768,039 $2,778,483 $3,291,425 $0 $11,837,948 58% 6/ $13,087,421 71% 18,556,767 Research and Training Revolving Fund $2,677,805 $656,951 $681,951 $0 $0 $1,338,903 50% 7/ $2,855, % 2,855,548 Other Revolving Funds $2,044,184 $1,091,832 $571,793 $478,853 $0 $2,142, % 8/ $2,094,672 89% 2,356,836 Total, Community Colleges $90,416,459 $42,902,582 $31,231,786 $7,580,576 $0 $81,714,945 90% $84,081,860 93% 90,568,055 Last Updated: May 3, 2016 File: FY16 BOR Qtrly Report - Qtr3 Final : Bdgt-to-Act Rev Page 6 of 49

8 University of Hawaii - FY 2016 Quarterly Financial Report for Special and Revolving Funds Revenue by Campus FY 2016 Year-to-Date FY 2015 Sub-Fund Projected Revenue Quarter 1 Quarter 2 Quarter 3 Quarter 4 Revenue Projected Revenue as of 03/31/15 Total for FY FY15 Total Systemwide Programs Tuition and Fees Special Fund $740,070 $287,220 $124,590 $143,730 $0 $555,540 75% $580,190 70% 824,127 Other Special Funds $2,447,950 $299,799 $509,923 $3,828,694 $0 $4,638, % 9/ $5,438, % 2,539,809 Research and Training Revolving Fund $13,795,779 ($4,824,275) $17,985,306 $3,464,452 $0 $16,625, % 10/ $5,870,067 50% 11,854,604 Other Revolving Funds $936,700 $223,158 $210,688 $503,976 $0 $937, % $538,548 35% 1,556,697 Total, Systemwide Programs $17,920,499 ($4,014,098) $18,830,507 $7,940,852 $0 $22,757, % $12,427,672 74% 16,775,237 UH SYSTEM TOTALS Tuition and Fees Special Fund $337,759,510 $182,588,434 $130,325,782 $34,293,456 $347,207, % $334,692, % $333,480,917 Other Special Funds $138,885,475 $50,305,086 $33,491,838 $28,577,895 $112,374,820 81% $117,151,700 90% $129,805,067 Research and Training Revolving Fund $50,124,695 $4,334,776 $19,642,484 $10,985,967 $34,963,226 70% $37,417,682 74% $50,823,462 Other Revolving Funds $35,553,262 $15,978,777 $11,889,150 $5,231,689 $33,099,615 93% $32,743,292 98% $33,421,812 GRAND TOTAL, UH SYSTEM $562,322,942 $253,207,073 $195,349,253 $79,089,007 $0 $527,645,334 94% $522,004,857 95% 547,531,257 NOTE: Tuition and Fees SF Revenue is recognized primarily in Quarter 1 (Summer and Fall sessions) and Quarter 2 (Spring session) in accordance with student registration deadlines. Most (if not all) of Quarter 4 TFSF revenue will be attributed to FY 2017 academic sessions. Adjustments to reverse out this future FY revenue are processed during the FY 2016 "13th month" accounting period. This revenue will then be reported as FY 2017 revenue in Quarter 1. This also applies to certain Other Special and Other Revolving Funds (Student Housing, Student Activities fees, etc.). Last Updated: May 3, 2016 File: FY16 BOR Qtrly Report - Qtr3 Final : Bdgt-to-Act Rev Page 7 of 49

9 University of Hawaii - FY 2016 Quarterly Financial Report for Special and Revolving Funds Revenue by Campus Footnotes GENERAL FOOTNOTES: Tuition and Fees SF Revenue is recognized primarily in Quarter 1 (Summer and Fall sessions) and Quarter 2 (Spring session) in accordance with student 1/ registration deadlines. MANOA FOOTNOTES: 2/ RTRF revenue recording for Manoa is one quarter behind. Quarter 2 was recorded late and appears in Quarter 3. Quarter 3 also was not recorded in time and should appear in quarter 4. 3/ Student Activities RF and Student Health Center RF contain student fees assessed when students register and are recognized primarily in Quarter 1 and Quarter 2 (for fall semester) and Quarters 2 and 3 (for spring semester). HILO FOOTNOTES: 4/ Housing Revenue is recognized primarily in Quarter 1 (Fall session) and Quarter 2 (Spring session) in accordance with student housing deadlines. Also, Student Housing begin recording revenue for Fall 2016 in Quarter 3, but it will be reversed and reported as deferred revenue in Quarter 4. 5/ RTRF revenues were not recorded in Quarter 3. Quarter 3's revenue distribution from the Office of the Vice President for Research and Innovation was recorded on April 1, 2016 and will appear as part of Quarter 4's revenue collections. WEST OAHU FOOTNOTES: Not applicable. COMMUNITY COLLEGE FOOTNOTES: 6/ Revenue decrease due to lower than anticipated demand for non-credit offerings by the public. The level of activity and timing of payments for the various programs that comprise the Community College Special Fund vary from year to year. 7/ RTRF revenues were not recorded in Quarter 3. Quarter 3's revenue distribution from the office of the Vice President for Research and Innovation was recorded on April 1, 2016 and should appear as part of Quarter 4's revenue collections. 8/ Revenues reflected in Other Revolving Funds are related to the Student Activities RF and Conference Center RF. Revenue for the Student Activities RF is 98.8% of prior year revenue for the first three quarters of the fiscal year. Revenue for the Conference Center RF is the prior year revenue for the first three quarters of the fiscal year. The timing of conference center revenue may vary from year to year depending on the number of conferences, date of conference, number of attendees, or other conference requirements and is not always proportionate to the months of the fiscal year that have elapsed. SYSTEMWIDE PROGRAMS FOOTNOTES: 9/ Timing of the transfer of the Build America Bonds distribution did not occur in the same quarter as the recognized revenue. The rise in third quarter revenue is also due to an ITS contract payment received once every five years. 10/ Timing issue that RTRF revenues were realized, but the transfers to the campuses did not record in the same quarter. Current Criteria for Footnotes: 1) " Projected" (YTD compared to annual budget) is less than 65% or greater than 85%. (Assumes that approximately 75 budget should be used at the end of Quarter 3.) And, 2) Dollar amount of variance (YTD versus 75 budget) is greater than $500,000. Last Updated: May 3, 2016 File: FY16 BOR Qtrly Report - Qtr3 Final : Footnotes - Revenue Page 8 of 49

10 Expenditures/ by Campus Page 9 of 49

11 University of Hawaii - FY 2016 Quarterly Financial Report for General, Special and Revolving Funds Expenditures/ by Campus FY 2016 Year-to-Date FY 2015 Sub-Fund Projected Expenditures/ Quarter 1 Quarter 2 Quarter 3 Quarter 4 Expenditures/ Projected Expend/Trfs as of 03/31/15 Total for FY FY15 Total UH Mānoa General Funds Personnel Expenditures $218,861,293 $52,666,924 $58,136,320 $59,694,728 $170,497,971 78% $161,207,383 78% $206,261,830 Other Current Expenditures $4,145,748 $83,844 $472,475 $215,986 $772,305 19% 1/ $22,888 1% $3,642,204 Expenditures, General Funds $223,007,041 $52,750,768 $58,608,795 $59,910,714 $0 $171,270,276 77% $161,230,271 77% $209,904,034 Tuition and Fees Special Fund Personnel Expenditures $93,661,028 $24,930,640 $19,068,476 $17,369,348 $61,368,464 66% $74,195,536 73% $101,468,229 Other Current Expenditures $81,212,644 $20,619,013 $18,477,179 $21,525,450 $60,621,642 75% $63,044,815 85% $74,145,714 $44,041,148 $2,092,411 $5,156,876 $3,369,820 $10,619,107 24% 2/ $8,310,808 20% $42,058,776 Expenditures/, TFSF $218,914,821 $47,642,063 $42,702,531 $42,264,618 $0 $132,609,213 61% $145,551,159 67% $217,672,719 Other Special Funds Personnel Expenditures $43,220,322 $10,392,031 $10,248,945 $9,986,138 $30,627,115 71% $29,538,276 73% $40,199,568 Other Current Expenditures $107,204,603 $31,159,525 $20,997,278 $33,586,861 $85,743,663 80% $65,643,312 80% $81,657,277 ($43,475,848) $15,437,510 ($5,621,248) $4,696,771 $14,513,032-33% 3/ $15,987,833-49% ($32,468,001) Expenditures/, Other Special Funds $106,949,077 $56,989,066 $25,624,975 $48,269,770 $0 $130,883, % $111,169, % $89,388,844 Research and Training Revolving Fund Personnel Expenditures $5,443,698 $2,600,623 $2,231,638 $2,123,915 $6,956, % 4/ $8,544,144 68% $12,574,503 Other Current Expenditures $25,998,725 $4,665,179 $5,424,887 $4,570,126 $14,660,192 56% 5/ $13,235,788 68% $19,591,792 ($54,021) $1,448,123 ($5,457) $1,166,755 $2,609, % 6/ $2,049,317 87% $2,363,526 Expenditures/, RTRF $31,388,402 $8,713,925 $7,651,067 $7,860,796 $0 $24,225,788 77% $23,829,249 69% $34,529,822 Other Revolving Funds Personnel Expenditures $7,838,857 $1,911,484 $1,890,788 $1,818,510 $5,620,782 72% $5,794,897 75% $7,746,214 Other Current Expenditures $20,068,858 $3,376,124 $4,159,477 $4,135,700 $11,671,300 58% 7/ $13,150,016 72% $18,355,647 $0 $23,517 ($6,749) ($31,142) ($14,374) budget=0 $176, % $116,505 Expenditures/, Other Revolving Funds $27,907,714 $5,311,124 $6,043,516 $5,923,068 $0 $17,277,708 62% $19,120,913 73% $26,218,366 Total, UH Mānoa Personnel Expenditures $369,025,197 $92,501,702 $91,576,166 $90,992,639 $0 $275,070,507 75% $279,280,236 76% $368,250,344 Other Current Expenditures $238,630,578 $59,903,684 $49,531,296 $64,034,123 $0 $173,469,102 73% $155,096,819 79% $197,392,634 $511,280 $19,001,561 ($476,578) $9,202,203 $0 $27,727, % $26,523, % $12,070,805 Total Expenditures/ $608,167,055 $171,406,946 $140,630,884 $164,228,965 $0 $476,266,796 78% $460,901,012 80% $577,713,784 Last Updated: May 3, 2016 File: FY16 BOR Qtrly Report - Qtr3 Final : Bdgt-to-Act Exp_Trf Page 10 of 49

12 University of Hawaii - FY 2016 Quarterly Financial Report for General, Special and Revolving Funds Expenditures/ by Campus FY 2016 Year-to-Date FY 2015 Sub-Fund Projected Expenditures/ Quarter 1 Quarter 2 Quarter 3 Quarter 4 Expenditures/ Projected Expend/Trfs as of 03/31/15 Total for FY FY15 Total UH Hilo General Funds Personnel Expenditures $32,767,944 $7,683,052 $7,989,413 $7,938,754 $23,611,219 72% $23,361,975 76% $30,895,008 Other Current Expenditures $137,021 $826 $6,580 $51,329 $58,735 43% $861,729 88% $980,093 Expenditures, General Funds $32,904,965 $7,683,879 $7,995,992 $7,990,083 $0 $23,669,953 72% $24,223,704 76% $31,875,102 Tuition and Fees Special Fund Personnel Expenditures $13,442,979 $3,331,718 $3,432,845 $3,386,845 $10,151,408 76% $10,361,779 75% $13,751,442 Other Current Expenditures $21,250,007 $3,405,509 $3,852,838 $3,201,504 $10,459,851 49% 8/ $11,041,856 74% $14,840,584 $9,158,360 $261,607 $1,081,113 $204,577 $1,547,297 17% 9/ $1,630,154 19% $8,753,357 Expenditures/, TFSF $43,851,346 $6,998,834 $8,366,795 $6,792,926 $0 $22,158,556 51% $23,033,789 62% $37,345,383 Other Special Funds Personnel Expenditures $1,618,693 $473,480 $515,040 $419,473 $1,407,994 87% $1,278,878 71% $1,807,231 Other Current Expenditures $11,792,758 $3,352,811 $1,939,936 $4,689,631 $9,982,378 85% $10,370,939 88% $11,723,685 ($5,951,541) $707,255 ($134,040) $441,358 $1,014,574-17% 10/ $943,729-16% ($6,007,867) Expenditures/, Other Special Funds $7,459,910 $4,533,546 $2,320,936 $5,550,462 $0 $12,404, % $12,593, % $7,523,048 Research and Training Revolving Fund Personnel Expenditures $295,100 $90,919 $65,293 $83,770 $239,981 81% $116,795 74% $158,678 Other Current Expenditures $4,315,218 $1,255,245 $1,730,138 $148,235 $3,133,618 73% $3,189,018 98% $3,261,950 ($401,308) ($7,500) ($101,543) ($7,778) ($116,821) 29% ($173,034) 48% ($359,649) Expenditures/, RTRF $4,209,010 $1,338,663 $1,693,889 $224,226 $0 $3,256,778 77% $3,132, % $3,060,979 Other Revolving Funds Personnel Expenditures $1,152,125 $265,341 $282,739 $266,472 $814,552 71% $759,629 73% $1,034,128 Other Current Expenditures $1,011,480 $163,441 $294,011 $261,920 $719,372 71% $871,932 62% $1,416,435 $0 ($0) $0 $0 ($0) budget=0 $237-13% ($1,828) Expenditures/, Other Revolving Funds $2,163,605 $428,783 $576,750 $528,392 $0 $1,533,924 71% $1,631,799 67% $2,448,735 Total, UH Hilo Personnel Expenditures $49,276,841 $11,844,510 $12,285,329 $12,095,314 $0 $36,225,153 74% $35,879,056 75% $47,646,488 Other Current Expenditures $38,506,484 $8,177,832 $7,823,503 $8,352,618 $0 $24,353,954 63% $26,335,475 82% $32,222,747 $2,805,511 $961,363 $845,530 $638,157 $0 $2,445,050 87% $2,401, % $2,384,013 Total Expenditures/ $90,588,836 $20,983,705 $20,954,362 $21,086,089 $0 $63,024,156 70% $64,615,617 79% $82,253,247 Last Updated: May 3, 2016 File: FY16 BOR Qtrly Report - Qtr3 Final : Bdgt-to-Act Exp_Trf Page 11 of 49

13 University of Hawaii - FY 2016 Quarterly Financial Report for General, Special and Revolving Funds Expenditures/ by Campus FY 2016 Year-to-Date FY 2015 Sub-Fund Projected Expenditures/ Quarter 1 Quarter 2 Quarter 3 Quarter 4 Expenditures/ Projected Expend/Trfs as of 03/31/15 Total for FY FY15 Total UH West O ahu General Funds Personnel Expenditures $14,166,407 $3,380,174 $4,036,220 $3,165,265 $10,581,660 75% $8,858,807 69% $12,814,289 Other Current Expenditures $143,874 $7,794 $6,734 $5,254 $19,781 14% $78,177 11% $714,189 Expenditures, General Funds $14,310,281 $3,387,968 $4,042,954 $3,170,519 $0 $10,601,441 74% $8,936,984 66% $13,528,478 Tuition and Fees Special Fund Personnel Expenditures $3,063,519 $774,333 $645,263 $1,607,267 $3,026,863 99% 11/ $2,396, % $2,310,662 Other Current Expenditures $5,725,680 $638,719 $757,955 $1,077,833 $2,474,506 43% 12/ $1,917,307 85% $2,246,065 $7,058,414 $2,906,604 $1,738,967 $1,382,248 $6,027,819 85% $4,239,556 95% $4,455,287 Expenditures/, TFSF $15,847,613 $4,319,656 $3,142,185 $4,067,348 $0 $11,529,189 73% $8,552,877 95% $9,012,014 Other Special Funds Personnel Expenditures $31,432 $4,390 $154 $7,357 $11,900 38% $1, % $1,636 Other Current Expenditures $2,881,000 $1,021,117 $247,995 $1,139,236 $2,408,348 84% $1,198,222 93% $1,284,236 ($2,406,000) $259 ($1,500,000) ($906,901) ($2,406,642) 100% 13/ ($729,757) 82% ($892,988) Expenditures/, Other Special Funds $506,432 $1,025,766 ($1,251,851) $239,691 $0 $13,606 3% $470, % $392,885 Research and Training Revolving Fund Personnel Expenditures $0 $33 $83 $101 $217 budget=0 $62 69% $90 Other Current Expenditures $163,528 $18,188 $12,700 $33,618 $64,506 39% $16,328 27% $61,552 ($40) $0 $0 ($40) ($40) 100% ($1,089) -18% $5,903 Expenditures/, RTRF $163,488 $18,221 $12,783 $33,680 $0 $64,683 40% $15,301 23% $67,544 Other Revolving Funds Personnel Expenditures $311,254 $35,849 $61,202 $53,514 $150,566 48% $131,849 72% $183,281 Other Current Expenditures $755,878 $45,362 $64,552 $67,568 $177,482 23% $176,752 63% $278,866 $0 $0 $0 $0 $0 budget=0 ($45,089) $29,911 Expenditures/, Other Revolving Funds $1,067,132 $81,211 $125,754 $121,082 $0 $328,047 31% $263,513 54% $492,058 Total, UH West O ahu Personnel Expenditures $17,572,612 $4,194,779 $4,742,922 $4,833,505 $0 $13,771,207 78% $11,388,368 74% $15,309,959 Other Current Expenditures $9,669,960 $1,731,179 $1,089,936 $2,323,509 $0 $5,144,624 53% $3,386,787 74% $4,584,908 $4,652,374 $2,906,863 $238,967 $475,306 $0 $3,621,137 78% $3,463,621 96% $3,598,113 Total Expenditures/ $31,894,946 $8,832,821 $6,071,825 $7,632,321 $0 $22,536,967 71% $18,238,776 78% $23,492,980 Last Updated: May 3, 2016 File: FY16 BOR Qtrly Report - Qtr3 Final : Bdgt-to-Act Exp_Trf Page 12 of 49

14 University of Hawaii - FY 2016 Quarterly Financial Report for General, Special and Revolving Funds Expenditures/ by Campus FY 2016 Year-to-Date FY 2015 Sub-Fund Projected Expenditures/ Quarter 1 Quarter 2 Quarter 3 Quarter 4 Expenditures/ Projected Expend/Trfs as of 03/31/15 Total for FY FY15 Total Community Colleges General Funds Personnel Expenditures $124,203,392 $25,550,575 $31,210,560 $31,542,450 $88,303,585 71% $88,889,424 76% $117,392,902 Other Current Expenditures $1,434,411 $265,977 $218,451 $180,325 $664,752 46% $308,834 23% $1,339,812 Expenditures, General Funds $125,637,803 $25,816,552 $31,429,010 $31,722,774 $0 $88,968,336 71% $89,198,258 75% $118,732,714 Tuition and Fees Special Fund Personnel Expenditures $21,383,689 $5,705,580 $6,273,746 $6,022,189 $18,001,516 84% $17,544,911 71% $24,651,267 Other Current Expenditures $44,658,435 $11,358,444 $6,595,587 $9,705,719 $27,659,751 62% 14/ $27,472,253 80% $34,489,687 $5,319,874 $10,250 $3,011,548 $1,392,526 $4,414,323 83% $3,426,070 51% $6,725,365 Expenditures/, TFSF $71,361,998 $17,074,275 $15,880,881 $17,120,434 $0 $50,075,589 70% $48,443,234 74% $65,866,318 Other Special Funds Personnel Expenditures $10,350,244 $4,033,723 $1,826,979 $1,690,949 $7,551,651 73% $7,975,084 80% $10,023,689 Other Current Expenditures $9,441,723 $1,485,097 $1,479,033 $1,340,046 $4,304,175 46% 15/ $5,336,213 75% $7,083,955 $589,609 $2,090,131 ($292,480) ($1,189,600) $608, % ($11,870) 1% ($973,999) Expenditures/, Other Special Funds $20,381,576 $7,608,951 $3,013,532 $1,841,395 $0 $12,463,877 61% $13,299,427 82% $16,133,644 Research and Training Revolving Fund Personnel Expenditures $1,360,700 $240,106 $246,547 $474,955 $961,607 71% $500,558 67% $749,191 Other Current Expenditures $1,675,482 $295,452 $193,400 ($91,311) $397,542 24% 16/ $699,440 70% $1,004,358 ($33,940) $0 $0 ($29,540) ($29,540) 87% ($68,003) 89% ($76,296) Expenditures/, RTRF $3,002,242 $535,558 $439,947 $354,103 $0 $1,329,609 44% $1,131,994 67% $1,677,253 Other Revolving Funds Personnel Expenditures $609,199 $157,784 $182,346 $163,140 $503,270 83% $461,077 75% $612,814 Other Current Expenditures $1,592,938 $390,660 $289,193 $584,916 $1,264,770 79% $1,240,284 76% $1,642,148 $0 $0 $2,023 $96 $2,119 budget=0 $0 0% ($31) Expenditures/, Other Revolving Funds $2,202,137 $548,444 $473,563 $748,152 $0 $1,770,159 80% $1,701,361 75% $2,254,931 Total, Community Colleges Personnel Expenditures $157,907,224 $35,687,768 $39,740,177 $39,893,683 $0 $115,321,628 73% $115,371,053 75% $153,429,863 Other Current Expenditures $58,802,989 $13,795,631 $8,775,665 $11,719,694 $0 $34,290,990 58% $35,057,023 77% $45,559,960 $5,875,543 $2,100,381 $2,721,091 $173,481 $0 $4,994,953 85% $3,346,197 59% $5,675,038 Total Expenditures/ $222,585,756 $51,583,780 $51,236,933 $51,786,858 $0 $154,607,571 69% $153,774,274 75% $204,664,861 Last Updated: May 3, 2016 File: FY16 BOR Qtrly Report - Qtr3 Final : Bdgt-to-Act Exp_Trf Page 13 of 49

15 University of Hawaii - FY 2016 Quarterly Financial Report for General, Special and Revolving Funds Expenditures/ by Campus FY 2016 Year-to-Date FY 2015 Sub-Fund Projected Expenditures/ Quarter 1 Quarter 2 Quarter 3 Quarter 4 Expenditures/ Projected Expend/Trfs as of 03/31/15 Total for FY FY15 Total Systemwide Programs General Funds Personnel Expenditures $34,350,382 $8,271,850 $8,261,402 $7,387,941 $23,921,192 70% $23,184,849 75% $31,062,435 Other Current Expenditures $4,191,867 $254,290 $1,575,200 $739,501 $2,568,991 61% 17/ $2,314,581 46% $5,045,894 (B+ Scholarships) $3,000,000 $0 $1,500,000 $0 $1,500,000 50% 18/ $1,500,000 50% $3,000,000 Expenditures/, General Funds $41,542,249 $8,526,139 $11,336,602 $8,127,442 $0 $27,990,183 67% $26,999,430 69% $39,108,329 Tuition and Fees Special Fund Personnel Expenditures $2,745,776 $222,719 $220,954 $1,047,091 $1,490,764 54% 19/ $1,133,394 78% $1,447,582 Other Current Expenditures $8,548,578 $1,092,996 $2,329,745 $3,072,979 $6,495,720 76% $7,637,374 98% $7,808,659 ($8,934,437) ($233,813) ($5,757,031) ($2,938,318) ($8,929,162) 100% 20/ ($8,589,441) 100% ($8,587,480) Expenditures/, TFSF $2,359,917 $1,081,902 ($3,206,332) $1,181,752 $0 ($942,679) -40% $181,327 27% $668,761 Other Special Funds Personnel Expenditures $568,645 $132,778 $131,108 $133,313 $397,199 70% $415,968 79% $529,271 Other Current Expenditures $7,313,186 $2,414,206 $1,383,048 $2,451,131 $6,248,385 85% $6,430,848 86% $7,444,723 ($4,946,734) ($250,607) ($3,434,994) ($554,040) ($4,239,641) 86% 21/ ($2,296,433) 67% ($3,428,181) Expenditures/, Other Special Funds $2,935,097 $2,296,377 ($1,920,838) $2,030,404 $0 $2,405,942 82% $4,550, % $4,545,813 Research and Training Revolving Fund Personnel Expenditures $5,324,090 $1,255,810 $1,285,466 $1,277,316 $3,818,592 72% $3,838,047 64% $5,957,836 Other Current Expenditures $9,735,679 $2,943,445 $1,420,009 $1,954,960 $6,318,415 65% $5,152,648 89% $5,800,829 $489,309 ($124,175) $107,500 ($455,717) ($472,392) -97% 22/ ($24,606) -17% $141,837 Expenditures/, RTRF $15,549,078 $4,075,080 $2,812,975 $2,776,559 $0 $9,664,614 62% $8,966,089 75% $11,900,502 Other Revolving Funds Personnel Expenditures $352,461 $65,498 $68,068 $66,439 $200,005 57% $199,284 75% $266,152 Other Current Expenditures $725,904 $109,478 $204,745 $181,986 $496,209 68% $53,391 9% $613,993 $34,701 ($154) $6,757 $31,143 $37, % $268,347-85% ($314,975) Expenditures/, Other Revolving Funds $1,113,066 $174,822 $279,570 $279,568 $0 $733,960 66% $521,022 92% $565,170 Total, Systemwide Programs Personnel Expenditures $43,341,354 $9,948,654 $9,966,997 $9,912,100 $0 $29,827,751 69% $28,771,542 73% $39,263,276 Other Current Expenditures $30,515,214 $6,814,414 $6,912,747 $8,400,557 $0 $22,127,719 73% $21,588,841 81% $26,714,098 ($10,357,161) ($608,749) ($7,577,768) ($3,916,933) $0 ($12,103,450) 117% ($9,142,134) 99% ($9,188,799) Total Expenditures/ $63,499,406 $16,154,319 $9,301,976 $14,395,725 $0 $39,852,021 63% $41,218,249 73% $56,788,575 Last Updated: May 3, 2016 File: FY16 BOR Qtrly Report - Qtr3 Final : Bdgt-to-Act Exp_Trf Page 14 of 49

16 University of Hawaii - FY 2016 Quarterly Financial Report for General, Special and Revolving Funds Expenditures/ by Campus FY 2016 Year-to-Date FY 2015 Sub-Fund Projected Expenditures/ Quarter 1 Quarter 2 Quarter 3 Quarter 4 Expenditures/ Projected Expend/Trfs as of 03/31/15 Total for FY FY15 Total UH SYSTEM TOTALS General Funds Personnel Expenditures $424,349,418 $97,552,576 $109,633,914 $109,729,137 $316,915,627 75% $305,502,438 77% $398,426,465 Other Current Expenditures (including trfs for B+) $13,052,921 $612,730 $3,779,439 $1,192,394 $5,584,564 43% $5,086,209 35% $14,722,193 Expenditures/, General Funds $437,402,339 $98,165,306 $113,413,354 $110,921,532 $0 $322,500,191 74% $310,588,647 75% $413,148,657 Tuition and Fees Special Fund Personnel Expenditures $134,296,991 $34,964,990 $29,641,283 $29,432,741 $94,039,014 70% $105,631,634 74% $143,629,183 Other Current Expenditures $161,395,344 $37,114,680 $32,013,304 $38,583,485 $107,711,470 67% $111,113,604 83% $133,530,709 $56,643,360 $5,037,059 $5,231,472 $3,410,852 $13,679,384 24% $9,017,146 17% $53,405,304 Expenditures/, TFSF $352,335,695 $77,116,729 $66,886,060 $71,427,078 $0 $215,429,867 61% $225,762,385 68% $330,565,195 Other Special Funds Personnel Expenditures $55,789,336 $15,036,402 $12,722,225 $12,237,231 $39,995,858 72% $39,209,842 75% $52,561,395 Other Current Expenditures $138,633,270 $39,432,756 $26,047,290 $43,206,904 $108,686,950 78% $88,979,534 81% $109,193,876 ($56,190,514) $17,984,548 ($10,982,761) $2,487,587 $9,489,374-17% $13,893,502-32% ($43,771,037) Expenditures/, Other Special Funds $138,232,092 $72,453,706 $27,786,754 $57,931,722 $0 $158,172, % $142,082, % $117,984,234 Research and Training Revolving Fund Personnel Expenditures $12,423,587 $4,187,490 $3,829,026 $3,960,057 $11,976,573 96% $12,999,605 67% $19,440,299 Other Current Expenditures $41,888,632 $9,177,509 $8,781,135 $6,615,628 $24,574,272 59% $22,293,222 75% $29,720,481 $0 $1,316,447 $500 $673,680 $1,990,627 budget=0 $1,782,585 86% $2,075,320 Expenditures/, RTRF $54,312,219 $14,681,446 $12,610,661 $11,249,365 $0 $38,541,472 71% $37,075,412 72% $51,236,100 Other Revolving Funds Personnel Expenditures $10,263,896 $2,435,955 $2,485,143 $2,368,076 $7,289,174 71% $7,346,735 75% $9,842,588 Other Current Expenditures $24,155,057 $4,085,065 $5,011,978 $5,232,090 $14,329,133 59% $15,492,377 69% $22,307,089 $34,701 $23,363 $2,031 $97 $25,491 73% $399, % ($170,417) Expenditures/, Other Revolving Funds $34,453,654 $6,544,384 $7,499,153 $7,600,262 $0 $21,643,799 63% $23,238,607 73% $31,979,260 GRAND TOTAL, UH SYSTEM Personnel Expenditures $637,123,228 $154,177,413 $158,311,592 $157,727,242 $0 $470,216,247 74% $470,690,255 75% $623,899,930 Other Current Expenditures $379,125,224 $90,422,740 $75,633,146 $94,830,502 $0 $260,886,388 69% $242,964,945 79% $309,474,348 $487,547 $24,361,418 ($5,748,758) $6,572,215 $0 $25,184, % $25,092, % $11,539,170 Total Expenditures/ $1,016,735,999 $268,961,571 $228,195,981 $259,129,959 $0 $756,287,511 74% $738,747,929 78% $944,913,448 Last Updated: May 3, 2016 File: FY16 BOR Qtrly Report - Qtr3 Final : Bdgt-to-Act Exp_Trf Page 15 of 49

17 University of Hawaii - FY 2016 Quarterly Financial Report for General, Special and Revolving Funds Expenditures/ by Campus Footnotes GENERAL FOOTNOTES: MANOA FOOTNOTES: Other expenditures on general funds (typically utilities) will be paid during Quarter 4 as a means to balance the general fund appropriation. The other portion of other expenditures are performance funding 1/ expenditures for the current fiscal year. The largest transfer in TFSF is the transfer to the Scholarship & Assistance SF (Other Special Funds). This typically happens toward the ending of the fiscal year after cash for the current year tuition is 2/ transferred from the system tuition account. budgets for Other Special Funds are primarily the transfers-in from TFSF to the Scholarship and Assistance SF, and transfers-in from the State to the Cancer Center SF. Other transfers-out include 3/ debt service amounts in Revenue Undertakings SF. The variance is due to the timing of receiving the transfers-in. The transfer to the Scholarship and Assistance SF typically happens towards the end of the fiscal year. At the time RTRF is allocated to the units, funds are initially budgeted as "Other Current Expenditures". Units may then redistribute their budgets between Personnel and Other Current Expenditures. 4/ Variances are due to timing of when these budget adjustments are made. Since budgets were not updated to reflect the distribution between Personnel and Other costs, there is a variance in Other Current Expenditures. Some of the budget on this line should be move to the 5/ Personnel line which is currently showing a 128% expended rate. RTRF transfers include transfers for debt service. Majority of the debt service transfers are done in the first quarter and a few are done towards the end of the year. A budget entry for these transfers was not 6/ entered into the system in a timely manner. Projections for University Health Systems were set higher with the assumption of certain renovations happening this year but there were delays in the design process that will cause the expenditure to be 7/ delayed; and thus the unit is planning to adjust the expenditure budget in quarter 4. There are other expenditures in Student Activity RF that were expected to occur in earlier quarters but are currently delayed and may be recorded in quarter 4 thus causing a lag in actual expenditures. HILO FOOTNOTES: 8/ Projected expenditures include Capital Renewal and Deferred Maintenance projects, some of which will be deferred to FY Also, planned expenditures for the Daniel K. Inouye College of Pharmacy will not be incurred in order to set aside funds to furnish their new building. 9/ to Student Scholarship and Assistance Special Fund and University Revenue-Undertaking Fund will be recorded in quarter 4. 10/ from the Tuition and Fees Special funds to the Student Scholarship and Assistance Special Fund and University Revenue-Undertaking Fund will be recorded in quarter 4. WEST OAHU FOOTNOTES: 11/ Increase in casual hire and student help expenditures mainly in Student Services division to provide additional services to students. 12/ Increase in expenditures expected in Qtrs. 3 and 4 as R&M, IT, and marketing projects are awarded and campus initiatives are implemented. 13/ Timing issue on the posting of the 4/1/16 Debt Service payment. Posting will occur in Qtr 4, and final transfer-in for Scholarships will also occur in Qtr 4. Net of these transfers will result in a minimal change. COMMUNITY COLLEGE FOOTNOTES: 14/ Other Current Expense projection is slightly high, equipment relacement expenditures are planned for the fourth quarter. expenditures are on par with FY2015 and are only 0.7% higher than FY2015 through the first three quarters of the fiscal year. 15/ Expenditure decrease due to lower than anticipated demand for non-credit offerings by the public. The level of activity and timing of payments for the various programs that comprise the Community College Special Fund vary from year to year. 16/ RTRF funds budgeted for utilities expenses were not used due to decrease in total electricity expenses paid for the first three quarters of the fiscal year. SYSTEMWIDE PROGRAMS FOOTNOTES: 17/ Large contract payments, annual membership renewals and WICHE Scholarships occur later in the fiscal year. As compared with the same period last year, the overall rise in General Fund expenditures is primarily due to the addition of new Systemwide programs such as the Office of Institutional Equity, Office of Sustainability and Native Hawaiian Initiatives. 18/ The $3 million in appropriated General Funds for the B Plus Scholarship Program is transferred in two installments to the B Plus Scholarship Special Fund in December and June. 19/ Payroll expenses to NTFSF Fiscal Services, NTFSF Vice President for Research and Innovation, and Banner accounts will occur later in the fiscal year for budgeting purposes. 20/ The UH Foundation and Banner assessments occur in Quarter 2. Together, both assessments represent the majority of the total projected TFSF transfers. This year, an additional assessment was imposed on the campuses to purchase and implement a systemwide project management software. 21/ There are two significant transfers that occur during Quarter 2 in Other Special Funds: the Risk Management assessment and a partial transfer of the B Plus Scholarship funds to the campuses. Together, both assessments represent the majority of the total projected Other Special Funds transfers. 22/ Timing issue that the transfers to the Systemwide programs did not record in Quarter 3. Current Criteria for Footnotes: 1) " Projected" (YTD compared to annual budget) is less than 65% or greater than 85%. (Assumes that approximately 75 budget should be used at the end of Quarter 3.) And, 2) Dollar amount of variance (YTD versus 75 budget) is greater than $500,000. Last Updated: May 3, 2016 File: FY16 BOR Qtrly Report - Qtr3 Final : Footnotes - Exp_Trf Page 16 of 49

18 Definitions Page 17 of 49

19 Quarterly Financial Report: Definitions FY 2016 Revenue & Expenditures, Unencumbered Cash by Campus Carryforward Cash [Claim-on-Cash (object code 8100)] - [Prior Year Deferred Revenue] Prior Year Deferred Revenue is included in YTD Revenue Recognized Revenue/Appropriation Expenditures/ Balance Cash Encumbrances Unencumbered Cash FY 2016 Reserve Targets 5% (Exec Policy) FY 2016 Reserve Targets 16% (BOR Policy) General Funds = Allocation (current A-19) Special and Revolving Funds = YTD Revenue Recognized YTD Expenditures +/- YTD [Carryforward Cash] + [Revenue/Appropriation] - [Expenditures/] Claim-on-Cash (object code 8100) at end of quarters 1-3 Claim-on-Cash - 06/30 Deferred Revenue at end of FY Encumbrances at end of quarter [Cash] - [Encumbrances] For TFSF: 5 Prior Year G-Fund and TFSF Expenditures/ Other Special & Revolving Funds: 5 Prior Year Expenditures/ For TFSF: 16 Prior Year G-Fund and TFSF Expenditures/ Other Special & Revolving Funds: 16 Prior Year Expenditures/ FY 2016 Budget-to- Revenue by Campus Projected Revenue Revenue Budgets for Current FY Includes Prior Year Deferred Revenue Quarter x Revenue Recognized Quarter 1 includes Prior Year Deferred Revenue Quarter 4 includes FP13 adjustments to exclude 06/30 Deferred Revenue and Future Year Accounts Receivable FY 2016 Budget-to- Expenditures/ by Campus Projected Expenditures/ Expenditure and Transfer Budgets Projected Expenditures/ during the FY Includes projected liquidation of Encumbrances Quarter x YTD Expenditures YTD Includes liquidation of Encumbrances Last Updated: April 6, 2016 File: FY16 BOR Qtrly Report - Qtr3 Final : Definitions Page 18 of 49

20 Net Operating Income Reports by Campus Page 19 of 49

21 UH Manoa: General Funds FY 2016 Year-to-Date Projection Quarter 1 Annual Quarter 2 Annual Quarter 3 Annual Quarter 4 Year-to-Date % Variance General Funds Revenue Projection $219,617,318 $219,617, % 0% 0% $219,617,318 Allocation $215,711,521 98% $4,798,213 2% $2,497,307 1% $223,007,041 Variance ($3,905,797) -2% $4,798,213 2% $2,497,307 1% $3,389, % 1/ General Funds Expenditures Personnel Projection $219,617,318 $56,699,614 26% $57,407,305 26% $56,736,181 26% $170,843,100 Regular Employee Payroll $52,661,562 $58,130,259 $59,687,225 $170,479,046 Non-Regular Employee Payroll $0 $0 $0 $0 Lecturer Payroll $0 $0 $0 $0 Student Help Payroll $5,362 $6,061 $7,503 $18,925 Expenditures: $52,666,924 24% $58,136,320 26% $59,694,728 27% $170,497,971 Variance ($4,032,689) -2% $729,014 0% $2,958,547 1% ($345,129) -0.20% Other Current Expenditures Projection $0 $0 $0 $0 $0 Utilities $0 $0 $0 $0 Other $83,844 $472,475 $215,986 $772,305 Expenditures: $83,844 n/a $472,475 n/a $215,986 n/a $772,305 Variance $83,844 n/a $472,475 n/a $215,986 n/a $772,305 budget=0 2/ Expenditures, General Funds Projection $219,617,318 $56,699,614 26% $57,407,305 26% $56,736,181 26% $170,843,100 $52,750,768 24% $58,608,795 27% $59,910,714 27% $171,270,276 Variance ($3,948,846) -2% $1,201,489 1% $3,174,533 1% $427, % Net Operating Income (Revenue - Expenditures/) $162,960,753 ($53,810,582) ($57,413,407) $51,736,765 File: FY16 BOR Qtrly Report_NOI - Qtr3 Final : UHM GF Page 20 of 49

22 UH Manoa: Tuition and Fees SF FY 2016 Year-to-Date Projection Quarter 1 Annual Quarter 2 Annual Quarter 3 Annual Quarter 4 Year-to-Date % Variance Tuition and Fees SF Revenue Projection $224,055,873 $117,618,737 52% $83,572,241 37% $24,845,336 11% $226,036,315 $120,065,710 54% $80,674,113 36% $28,524,164 13% $229,263,987 Variance $2,446,973 1% ($2,898,129) -1% $3,678,828 2% $3,227, % Tuition and Fees SF Expenditures/ Personnel Projection $98,666,859 $27,689,485 28% $22,574,618 23% $21,626,728 22% $71,890,831 Regular Employee Payroll $21,301,264 $14,457,617 $13,090,965 $48,849,846 Non-Regular Employee Payroll $364,962 $333,234 $319,866 $1,018,061 Lecturer Payroll $1,904,909 $2,875,467 $2,734,737 $7,515,113 Student Help Payroll $1,359,505 $1,402,158 $1,223,780 $3,985,442 Expenditures: $24,930,640 25% $19,068,476 19% $17,369,348 18% $61,368,464 Variance ($2,758,845) -3% ($3,506,142) -4% ($4,257,380) -4% ($10,522,368) % 3/ Other Current Expenditures Projection $77,758,934 $19,529,269 25% $21,265,717 27% $21,539,872 28% $62,334,857 Utilities $11,102,387 $5,991,087 $5,049,362 $22,142,836 Other $9,516,625 $12,486,092 $16,476,089 $38,478,806 Expenditures: $20,619,013 27% $18,477,179 24% $21,525,450 28% $60,621,642 Variance $1,089,744 1% ($2,788,538) -4% ($14,421) 0% ($1,713,215) -2.75% Projection $42,488,685 $899,211 2% $4,513,453 11% $2,566,954 6% $7,979,619 $2,092,411 5% $5,156,876 12% $3,369,820 8% $10,619,107 Variance $1,193,200 3% $643,423 2% $802,866 2% $2,639, % 4/ Expenditures, TFSF Projection $218,914,478 $48,117,964 22% $48,353,788 22% $45,733,554 21% $142,205,307 $47,642,063 22% $42,702,531 20% $42,264,618 19% $132,609,213 Variance ($475,901) 0% ($5,651,257) -3% ($3,468,936) -2% ($9,596,094) -6.75% Net Operating Income (Revenue - Expenditures/) $72,423,647 $37,971,581 ($13,740,454) $96,654,774 File: FY16 BOR Qtrly Report_NOI - Qtr3 Final : UHM TFSF Page 21 of 49

23 UH Manoa: Research and Training RF FY 2016 Year-to-Date Projection Quarter 1 Annual Quarter 2 Annual Quarter 3 Annual Quarter 4 Year-to-Date % Variance Research and Training RF Projection $29,442,901 $7,360,725 25% $7,360,725 25% $7,360,725 25% $22,082,176 $7,534,373 26% $0 0% $7,521,514 26% $15,055,888 Variance $173,648 1% ($7,360,725) -25% $160,789 1% ($7,026,288) % 5/ Research and Training RF Expenditures/ Personnel Projection $8,782,915 $2,132,546 24% $1,448,334 16% $1,972,605 22% $5,553,485 Regular Employee Payroll $2,413,751 $2,089,293 $2,025,993 $6,529,037 Non-Regular Employee Payroll $102,197 $83,177 $60,347 $245,721 Lecturer Payroll $684 $7,786 $2,400 $10,871 Student Help Payroll $83,991 $51,381 $35,175 $170,547 Expenditures: $2,600,623 30% $2,231,638 25% $2,123,915 24% $6,956,176 Variance $468,077 5% $783,304 9% $151,309 2% $1,402, % 6/ Other Current Expenditures Projection $19,433,697 $3,785,749 19% $3,587,256 18% $5,056,767 26% $12,429,772 Utilities $422,384 $1,591,673 $2,530,954 $4,545,010 Other $4,242,795 $3,833,214 $2,039,172 $10,115,181 Expenditures: $4,665,179 24% $5,424,887 28% $4,570,126 24% $14,660,192 Variance $879,430 5% $1,837,631 9% ($486,641) -3% $2,230, % 7/ Projection $112,947 $47,614 42% $17,285 15% $36,754 33% $101,653 $1,448, % ($5,457) -5% $1,166, % $2,609,421 Variance $1,400, % ($22,742) -20% $1,130, % $2,507, % 8/ Expenditures, RTRF Projection $28,329,559 $5,965,909 21% $5,052,875 18% $7,066,126 25% $18,084,911 $8,713,925 31% $7,651,067 27% $7,860,796 28% $24,225,788 Variance $2,748,016 10% $2,598,192 9% $794,669 3% $6,140, % Net Operating Income (Revenue - Expenditures/) ($1,179,552) ($7,651,067) ($339,281) ($9,169,900) File: FY16 BOR Qtrly Report_NOI - Qtr3 Final : UHM RTRF Page 22 of 49

24 UH Manoa: Other Non-General Funds FY 2016 Year-to-Date Projection Quarter 1 Annual Quarter 2 Annual Quarter 3 Annual Quarter 4 Year-to-Date % Variance Other Non-General Funds Revenue Projection $134,208,738 $55,540,023 41% $37,438,518 28% $27,282,277 20% $120,260,818 $53,759,375 40% $37,086,795 28% $22,857,055 17% $113,703,225 Variance ($1,780,648) -1% ($351,723) 0% ($4,425,222) -3% ($6,557,593) -5.45% Other Non-General Funds Expenditures/ Personnel Projection $51,919,481 $12,697,188 24% $12,940,701 25% $13,080,957 25% $38,718,847 Regular Employee Payroll $10,728,014 $10,665,564 $10,375,920 $31,769,497 Non-Regular Employee Payroll $207,098 $246,928 $243,123 $697,150 Lecturer Payroll $101,548 $79,748 $99,967 $281,263 Student Help Payroll $1,266,855 $1,147,493 $1,085,638 $3,499,987 Expenditures: $12,303,515 24% $12,139,733 23% $11,804,649 23% $36,247,897 Variance ($393,673) -1% ($800,968) -2% ($1,276,309) -2% ($2,470,950) -6.38% Other Current Expenditures Projection $124,065,023 $34,784,651 28% $16,458,995 13% $42,254,414 34% $93,498,061 Utilities $1,333,904 $1,584,604 $1,504,970 $4,423,478 Other (Note a) $33,201,745 $23,572,150 $36,217,591 $92,991,486 Expenditures: $34,535,648 28% $25,156,755 20% $37,722,561 30% $97,414,964 Variance ($249,003) 0% $8,697,760 7% ($4,531,854) -4% $3,916, % (Note b) Projection ($31,335,190) $8,471,320-27% $3,137,733-10% ($95,784) 0% $11,513,270 $15,461,027-49% ($5,627,997) 18% $4,665,629-15% $14,498,659 Variance $6,989,706-22% ($8,765,730) 28% $4,761,413-15% $2,985, % 9/ Expenditures, Other Non-General Funds Projection $144,649,314 $55,953,160 39% $32,537,429 22% $55,239,588 38% $143,730,177 $62,300,190 43% $31,668,491 22% $54,192,838 37% $148,161,519 Variance $6,347,030 4% ($868,938) -1% ($1,046,750) -1% $4,431, % Net Operating Income (Revenue - Expenditures/) ($8,540,816) $5,418,304 ($31,335,783) ($34,458,295) a/ Includes expenditures for tuition scholarships. These expenditures are covered by a transfer of cash from the TFSF in the 4th Quarter. b/ Includes transfer-in from TFSF to cover tuition scholarships (see Note 1) in the 4th Quarter. File: FY16 BOR Qtrly Report_NOI - Qtr3 Final : UHM Other NGF Page 23 of 49

25 UH Manoa Footnotes UH MANOA FOOTNOTES: 1/ Variances between initial Projection and Current Allocation can be attributed to the net effects of Collective Bargaining augmentations, imposing/releasing of Restrictions, distribution of Performance Funding, transfers between campuses, and release of funding for Special Appropriations. 2/ General funds are typically not expended on other current expenditures. The other current expenditures incurred to date are due to performance funding and postdeath payments. Performance funding was not allocated to the campus in prior years, therefore the 3 year averages do not provide comparable data. 3/ Units are spending more conservatively which would mean a lower percentage of expenditures as compared to their original budget estimates. Where possible, other sources of funding are being used. 4/ Variance is due to timing of transfers, which are not completed in the same quarter each year. Current (updated) transfer projections are also higher than originally projected. 5/ RTRF revenue recording for Manoa is one quarter behind. Quarter 2 was recorded late and appears in Quarter 3. Quarter 3 was also not recorded in time and should appear in Quarter 4. Historically, units budgeted their RTRF on a bottom line level rather than between Personnel and Other Expenditures, and they did so on a project/award basis 6/ instead of based on the fiscal year. Personnel expenditures trending higher than projected as expenses are shifted between fund sources. Historically, units budgeted their RTRF on a bottom line level rather than between Personnel and Other Expenditures, and they did so on a project/award basis 7/ instead of based on the fiscal year. Current (updated) expenditure projections are higher than originally projected for the year due to higher than anticipated revenue. Quarterly projections calculated using a percentage of the updated (higher) Other Current Expenditure projection would result in a lower overall variance. 8/ Original budget projection for transfers was too low, resulting in variances each quarter that will grow through the year. 9/ Variance is due to timing of transfers, which are not completed in the same quarter each year. Current (updated) transfer projections are also higher than originally projected. Current Criteria for Footnotes: Year-to-Date "% Variance" is greater than 10% and dollar amount of variance is greater than $500,000. File: FY16 BOR Qtrly Report_NOI - Qtr3 Final : UHM Footnotes Page 24 of 49