Executive Summaries and Actual and Budgeted Revenues, Expenses and Changes in Net Position. For the Quarter Ended September 30, 2017 (Unaudited)

Executive Summaries and Actual and Budgeted Revenues, Expenses and Changes in Net Position For the Quarter Ended September 30, 2017 (Unaudited)

Arkansas Archeological Survey

ARKANSAS ARCHEOLOGICAL SURVEY For Quarter Ending September 30, 2017 Current Unrestricted Fund Statement of Budgeted and Actual Revenues and Expenditures For the Quarter Ending September 30, 2017 REVENUES STATE FUNDS State appropriations are 25.29% realized at 9/30/2017 with actual revenue of $624,635. OTHER INCOME Revenue in the amount of $6,349 is from sales of publications and user fees for AMASDA database. Revenue in the amount of $4,360 is from the spending distribution on the Hester A. Davis endowment. EXPENDITURES Total expenditures to date are 24.52% of annual budget. At 9/30/2017, expenditures are 3.38% less than total revenues received. George Sabo III Director

Arkansas Archeological Survey Actual and Budgeted Revenues, Expenses and Changes in Net Position For the Quarter Ending September 30, 2017 Page 1 of 2 Educational & General Auxiliary Other Total Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized OPERATING REVENUE Student tuition & fees Patient services Federal and county appropriations Grants and contracts 100,000 12,708 12.7% 100,000 12,708 12.7% Sales/services of educational departments Insurance plan Auxiliary enterprises: Athletics Housing/food service Bookstore Other auxiliary enterprises Other operating revenues 33,591 10,709 31.9% 33,591 10,709 31.9% TOTAL OPERATING REVENUES 33,591 10,709 31.9% 100,000 12,708 12.7% 133,591 23,417 17.5% OPERATING EXPENSES Compensation & benefits 2,257,437 561,390 24.9% 75,000 37,126 49.5% 2,332,437 598,516 25.7% Supplies & services 245,989 52,491 21.3% 25,000 3,948 15.8% 270,989 56,439 20.8% Scholarships & fellowships Insurance plan Depreciation Contingency TOTAL OPERATING EXPENSES 2,503,426 613,881 24.5% 100,000 41,074 41.1% 2,603,426 654,955 25.2% OPERATING LOSS (2,469,835) (603,172) 24.4% - (28,366) (2,469,835) (631,538) 25.6%

Arkansas Archeological Survey Actual and Budgeted Revenues, Expenses and Changes in Net Position For the Quarter Ending September 30, 2017 Page 2 of 2 Educational & General Auxiliary Other Total Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized NON-OPERATING REVENUES (EXPENSES) State appropriations 2,469,835 624,635 25.3% 2,469,835 624,635 25.3% Property & sales tax Grants Gifts Investment income Interest on capital asset-related debt Other - GIF NET NON-OPERATING REVENUES 2,469,835 624,635 25.3% - - 2,469,835 624,635 25.3% INCOME (LOSS) BEFORE OTHER REV/E - 21,463 - (28,366) - (6,903) OTHER CHANGES IN NET ASSETS Capital appropriations Capital gifts and grants Other TOTAL OTHER CHANGES - - - TRANSFERS IN (OUT) Debt Service Other TOTAL TRANSFERS IN (OUT) - - - - INCREASE IN NET POSITION - 21,463 (28,366) - (6,903)

Criminal Justice Institute

CRIMINAL JUSTICE INSTITUTE EXECUTIVE SUMMARY Statement of Budgeted and Actual Revenue and Expenditures For the Three Months Ending September 30, 2017 (Unaudited) Materiality Defined: Materiality is defined as a variance of 5% or more or a minimum of $50,000 of any item from the original budgeted amount. Revenues: Unrestricted state revenues realized through the first quarter of FY 2018 were $469,386 which is 25.7% of the annual appropriation. State Revenues are requested and received by the University of Arkansas at Fayetteville monthly based on projections of need calculated at the UAF campus. Other Revenues received through the first quarter of FY 2018 included Indirect Costs Recovery from Federal and State grants of $88,750. The Criminal Justice Institute received $100,000 from the Arkansas Governor s Office for Law Enforcement Subscription Assistance, Online Course Development, the Drug Endangered Children s Project, and Statewide Child Abduction Response Team Certification classes. Budget Allocations: Adjustments in the Compensation and Benefits and the Supplies and Services categories were the result of concurrent employment contract instructor fees originally budgeted as Supplies and Services. Dr. Cheryl P. May Director

CRIMINAL JUSTICE INSTITUTE Actual and Budgeted Revenues, Expenses and Changes in Net Position For the Quarter Ending September 30, 2017 Educational & General Auxiliary Other Other Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized OPERATING REVENUE Student tuition & fees 10,000 2,025 20.3% 10,000 2,025 20.3% Patient services Federal and county appropriations Grants and contracts Sales/services of educational departments Insurance plan Auxiliary enterprises: Athletics Housing/food service Bookstore Other auxiliary enterprises Other operating revenues TOTAL OPERATING REVENUES 10,000 2,025 20.3% - - - - 10,000 2,025 20.3% OPERATING EXPENSES Compensation & benefits 1,441,811 334,828 23.2% 896,994 209,894 23.4% 2,338,805 544,722 23.3% Supplies & services 1,073,543 174,419 16.2% 1,478,433 210,232 14.2% 2,551,976 384,652 15.1% Indirect Costs--State and Federal Grants 237,168 88,750 37.4% 237,168 88,750 37.4% Insurance plan Depreciation Contingency TOTAL OPERATING EXPENSES 2,515,354 509,248 20.2% - - 2,612,595 508,876 19.5% 5,127,949 1,018,124 19.9% OPERATING LOSS (2,505,354) (507,223) 20.2% - - (2,612,595) (508,876) 19.5% (5,117,949) (1,016,099) 19.9%

CRIMINAL JUSTICE INSTITUTE Actual and Budgeted Revenues, Expenses and Changes in Net Position For the Quarter Ending September 30, 2017 Educational & General Auxiliary Other Other Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized NON-OPERATING REVENUES (EXPENSES) State appropriations 1,825,769 469,386 25.7% 1,825,769 469,386 25.7% Special State Assets Forfeiture Fund 150,000 150,000 100.0% 150,000 150,000 100.0% Grants 2,314,020 451,648 19.5% 2,314,020 451,648 19.5% Funds from Governor's Office 100,000 100,000 100.0% 100,000 100,000 100.0% Indirect Costs--State and Federal Grants 237,168 88,750 37.4% 237,168 88,750 37.4% Investment income Interest on capital asset-related debt Other NET NON-OPERATING REVENUES 2,212,937 708,136 32.0% - - 2,414,020 551,648 22.9% 4,626,957 1,259,784 27.2% INCOME (LOSS) BEFORE OTHER REV/EXP (292,417) 200,914-68.7% - - (198,575) 42,771-21.5% (490,992) 243,685-49.6% OTHER CHANGES IN NET ASSETS Capital appropriations Capital gifts and grants Other TOTAL OTHER CHANGES - - - - - - - - TRANSFERS IN (OUT) Debt Service Transfer from Plant Fund 302,417 0.0% (302,417) 0.0% - TOTAL TRANSFERS IN (OUT) 302,417-0.0% - - (302,417) - 0.0% 0 - INCREASE IN NET POSITION 10,000 200,914 2009.1% - - (500,992) 42,771-8.5% (490,992) 243,685-49.6%

Division of Agriculture

UNIVERSITY OF ARKANSAS DIVISION OF AGRICULTURE EXECUTIVE SUMMARY Actual and Budgeted Revenues, Expenses and Changes in Net Position For the Quarter Ending September 30, 2017 Revenues: State Appropriations: The Educational and General State Appropriations budget consists of general revenue funded through the Revenue Stabilization Act (RSA) and the Educational Excellence Trust Fund Act (EETF). The Other State Appropriations budget consists of Tobacco Settlement funds allocated to the Division to fund the Arkansas Biosciences Institute (ABI). Federal Appropriations: This category consists of funds from US Department of Agriculture National Institute of Food and Agriculture (USDA NIFA) provided through the federal formula and are considered part of the base support for the Division of Agriculture. These funds are drawn down on a reimbursable basis. County Appropriations: This category consists of quarterly payments made by county governments based upon their agreement to fund a portion of the Cooperative Extension Service county program cost for each county operation. Sales/Services: This category consists of revenue from educational and research activities, including the sale of foundation seed to seed producers, crop and cattle sales, royalties, investments, and programmatic activity in each county depository account. Variance Explanations: Budgeted and Actual Revenue: With the exception of Grants and Contracts, Operating Revenue realized was substantially on schedule. Most grant revenue is not recognized until expenses have been incurred and are reimbursed a little later in the year. Federal Appropriations are a little lower due to the timing of the draw down of the funds. The Tobacco Settlement funds are received in one lump sum during the first quarter of the year and were slightly higher than anticipated accounting for 103% of the Other State Appropriations budget being realized. This together with strong receipts from Gifts and Investments account for the 54.5% of budget realized in the Other category of Non-Operating Revenues.

UNIVERSITY OF ARKANSAS DIVISION OF AGRICULTURE EXECUTIVE SUMMARY Budgeted and Actual Expenditures: Operating Expenses in the E&G category were substantially as predicted. The 80% of Budget Realized on the Operating Loss line in the Other Category will even out in future reporting periods as Grants revenue is realized from expenditures being submitted for reimbursement. Transfers In (Out) Other Capital Acquisitions were higher than anticipated due to the timing of the purchase of several replacement vehicles and transfers for the Soils Testing Lab and equipment. Mark Cochran Vice President for Agriculture

University of Arkansas Division of Agriculture Actual and Budgeted Revenues, Expenses and Changes in Net Position For the Quarter Ending September 30, 2017 Educational & General Auxiliary Other Total Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized OPERATING REVENUE Federal and county appropriations - - 17,083,073 3,314,112 19.4% 17,083,073 3,314,112 19.4% Grants and contracts - - 29,132,437 3,608,628 12.4% 29,132,437 3,608,628 12.4% Sales/services of educational departments 11,507,105 3,332,000 29.0% - - 11,507,105 3,332,000 29.0% Other operating revenues - 500 - - - 500 TOTAL OPERATING REVENUES 11,507,105 3,332,500 29.0% - - 46,215,510 6,922,740 15.0% 57,722,615 10,255,240 17.8% OPERATING EXPENSES Compensation & benefits 66,051,178 16,202,252 24.5% 27,040,034 6,506,974 24.1% 93,091,212 22,709,226 24.4% Supplies & services 14,590,917 3,914,849 26.8% 19,477,808 3,947,474 20.3% 34,068,725 7,862,323 23.1% Scholarships & fellowships 10,877 4,001 36.8% 285,102 45,143 15.8% 295,979 49,144 16.6% Depreciation - - 5,616,709 1,404,177 25.0% 5,616,709 1,404,177 25.0% Contingency 174,632-0.0% - - 174,632-0.0% TOTAL OPERATING EXPENSES 80,827,604 20,121,102 24.9% - - 52,419,653 11,903,768 22.7% 133,247,257 32,024,870 24.0% OPERATING LOSS (69,320,499) (16,788,602) 24.2% - - (6,204,143) (4,981,028) 80.3% (75,524,642) (21,769,630) 28.8% NON-OPERATING REVENUES (EXPENSES) State appropriations 68,749,240 17,332,899 25.2% 1,549,481 1,597,367 103.1% 70,298,721 18,930,266 26.9% Grants - - - - - - Gifts 400,000 54,774 13.7% 3,680,000 1,290,417 35.1% 4,080,000 1,345,191 33.0% Investment income 312,000 97,027 31.1% 180,000 61,163 34.0% 492,000 158,190 32.2% Other-Garvan Gardens (160,000) (36,491) 22.8% - - (160,000) (36,491) 22.8% NET NON-OPERATING REVENUES 69,301,240 17,448,209 25.2% - - 5,409,481 2,948,947 54.5% 74,710,721 20,397,156 27.3% INCOME (LOSS) BEFORE OTHER REV/EXP (19,259) 659,607 - - (794,662) (2,032,081) (813,921) (1,372,474) 168.6% OTHER CHANGES IN NET ASSETS Capital appropriations - - - - - - Capital gifts and grants - - - - - - Other-Loss on Disposal of Capital Assets - - - (4,419) - (4,419) TOTAL OTHER CHANGES - - - - - (4,419) - (4,419) TRANSFERS IN (OUT) Debt Service - - - - - - Other - Capital (2,438,622) (861,207) 35.3% 2,438,622 861,207 35.3% - - Other - Indirect Cost Recovery 1,700,000 291,324 17.1% (1,700,000) (291,324) 17.1% - - TOTAL TRANSFERS IN (OUT) (738,622) (569,883) 77.2% - - 738,622 569,883 77.2% - - INCREASE IN NET POSITION (757,881) 89,724-11.8% - - (56,040) (1,466,617) 2617.1% (813,921) (1,376,893) 169.2%

University of Arkansas, Fayetteville

University of Arkansas Fayetteville Campus Executive Summary For the Quarter Ending September 30, 2017 The University of Arkansas, Fayetteville financial data reports for the Quarter ending September 30, 2017 are attached in the formats requested. These reports are prepared on a modified accrual basis of accounting. Educational & General The amount of actual tuition and fees revenues are generally in line with expectations for the fall semester. Enrollment increased 1.3 percent for the fall 2017 semester, setting a new campus record of 27,558 students. Amounts reported for scholarships & fellowships are influenced by the scholarship allowance calculation under GASB. The allowance varies quarter to quarter primarily as a result of the type and timing of aid applied. We expect that scholarship & fellowships will adjust to near 100% of the budget during the fourth quarter when the majority of student refunds generated are a result of federal student loans. These refunds will affect the scholarship allowance calculation by reducing the percentage of refunds to be applied as student aid expense and accordingly will result in a reduction of the scholarship allowance and an increase in scholarship expense. The E&G debt service transfers reflects the fact that scheduled payments are made in the 2 nd and 4 th Quarters. Auxiliaries The variance reflected in the revenues for Housing/Food service is due to revenue being recognized as a percentage of full-year housing contract. 1 st Quarter revenue is a partial month for August and September only. The Auxiliary debt service transfers reflects the fact that scheduled payments for Athletics are made in the 1 st and 3 rd Quarters. Housing/food service revenues reflects a change in the recognition of revenues for services rendered by Chartwells after an Internal Audit conducted a review of Housing Auxiliary Enterprises. It was determined that revenues should be recognized for the meal plans paid by the students and the supplies and services expense recognized for the payments to Chartwells. Previously the funds collected were simply passed through to Chartwells with no revenue or expense recorded in our General Ledger. It was also determined that Resident Assistants waived room and board charges should be reported as revenue and scholarship expense. These changes account for the increases in the % of budget realized in Auxiliary revenues and expenses. Joseph E. Steinmetz Chancellor

University of Arkansas, Fayetteville Actual and Budgeted Revenues, Expenses and Changes in Net Position For the Quarter Ending September 30, 2017 Educational & General Auxiliary Other Total Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized OPERATING REVENUE Student tuition & fees 289,755,868 155,603,109 53.7% 11,982,795 4,970,256 41.5% 301,738,663 160,573,365 53.2% (41,929,035) (22,515,892) (41,929,035) (22,515,892) 53.7% (28,299,486) (15,196,824) (28,299,486) (15,196,824) 53.7% Patient services Federal and county appropriations Grants and contracts 63,894,571 13,367,557 20.9% 63,894,571 13,367,557 20.9% Sales/services of educational departments 6,262,667 1,914,413 30.6% 6,262,667 1,914,413 30.6% Insurance plan Auxiliary enterprises: Athletics 104,782,690 38,279,903 36.5% 104,782,690 38,279,903 36.5% Housing/food service 67,238,747 19,148,437 28.5% 67,238,747 19,148,437 28.5% (6,980,794) (1,985,526) (6,980,794) (1,985,526) 28.4% (4,711,601) (1,342,806) (4,711,601) (1,342,806) 28.5% Bookstore 11,238,827 5,024,681 44.7% 11,238,827 5,024,681 44.7% (82,260) (36,770) (82,260) (36,770) 44.7% (55,521) (24,818) (55,521) (24,818) 44.7% Other auxiliary enterprises 12,099,259 5,882,956 48.6% 12,099,259 5,882,956 48.6% Other operating revenues 20,844,066 4,693,181 22.5% 500,000 126,872 25.4% 21,344,066 4,820,053 22.6% TOTAL OPERATING REVENUES 246,634,080 124,497,987 195,512,142 69,916,313 64,394,571 13,494,429 506,540,793 207,908,729 41.0% OPERATING EXPENSES Compensation & benefits 307,484,801 70,827,336 23.0% 54,255,174 12,449,891 22.9% 64,849,295 15,288,170 23.6% 426,589,270 98,565,397 23.1% Supplies & services 61,273,234 20,870,168 34.1% 89,923,195 23,086,450 25.7% 46,078,526 19,057,130 41.4% 197,274,955 63,013,748 31.9% Scholarships & fellowships 6,953,822 979,472 14.1% 7,726,574 6,830,850 88.4% 5,481,981 3,783,012 69.0% 20,162,377 11,593,334 57.5% Insurance plan Depreciation 68,126,985 17,031,746 25.0% 68,126,985 17,031,746 25.0% Contingency 13,828,201 13,828,201 TOTAL OPERATING EXPENSES 389,540,058 92,676,976 151,904,943 42,367,191 184,536,787 55,160,058 725,981,788 190,204,225 26.2% OPERATING LOSS (142,905,978) 31,821,011 43,607,199 27,549,122 (120,142,216) (41,665,629) (219,440,995) 17,704,504-8.1%

University of Arkansas, Fayetteville Actual and Budgeted Revenues, Expenses and Changes in Net Position For the Quarter Ending September 30, 2017 Educational & General Auxiliary Other Total Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized NON-OPERATING REVENUES (EXPENSES) State appropriations 128,007,419 32,862,701 25.7% 1,600,000 2,107,367 131.7% 129,607,419 34,970,068 27.0% Property & sales tax Grants 51,181,000 10,310,826 20.1% 51,181,000 10,310,826 20.1% Gifts 64,792,534 13,460,206 20.8% 64,792,534 13,460,206 20.8% Investment income 1,500,000 1,634,191 108.9% 4,525,000 2,194,897 48.5% 6,025,000 3,829,088 63.6% Interest on capital asset-related debt (27,658,130) 2,779,541-10.0% (27,658,130) 2,779,541-10.0% Other 800,000 170,699 21.3% 3,077 800,000 173,776 21.7% NET NON-OPERATING REVENUES 130,307,419 34,667,591 - - 94,440,404 30,855,914 224,747,823 65,523,505 29.2% INCOME (LOSS) BEFORE OTHER REV/EXP (12,598,559) 66,488,602 43,607,199 27,549,122 (25,701,812) (10,809,715) 5,306,828 83,228,009 1568.3% OTHER CHANGES IN NET ASSETS Capital appropriations Capital gifts and grants 14,746,864 50,070 0.3% 14,746,864 50,070 0.3% Other TOTAL OTHER CHANGES - - - - 14,746,864 50,070 14,746,864 50,070 0.3% TRANSFERS IN (OUT) Debt Service (29,954,747) (1,063,383) 3.5% (31,613,556) (9,448,392) 29.9% 61,568,303 10,511,775 17.1% - - Other 42,553,306 25,238,601 59.3% (11,993,643) 984,387-8.2% (30,559,663) (26,222,988) 85.8% - - TOTAL TRANSFERS IN (OUT) 12,598,559 24,175,218 (43,607,199) (8,464,005) 31,008,640 (15,711,213) - - INCREASE IN NET POSITION - 90,663,820-19,085,117 20,053,692 (26,470,858) 20,053,692 83,278,079 415.3%

University of Arkansas at Fort Smith

UNIVERSITY OF ARKANSAS FORT SMITH For Quarter Ending September 30, 2017 EXECUTIVE SUMMARY The University of Arkansas - Fort Smith s Educational & General unrestricted current fund revenues exceeded expenditures by $10,679,529 through the first quarter of FY18. Auxiliary unrestricted current fund revenues exceeded expenditures by $3,757,287 through the first quarter of FY18, and other operating fund revenues were less expenditures by ($4,695,627) through the first quarter of FY18. For the total of all funds, revenues exceeded expenditures by a total of $9,741,189. Education and General Other operating revenues are high due to late payment fees. Compensation & benefits is low from unfilled job vacancies. Scholarships & fellowships lag behind due to concurrent scholarships not recorded in the first quarter, but will be recorded in the second quarter. Property and sales tax are low because receipts of sales tax revenue lag behind. Investment income changes due to market fluctuations. Debt service is low due to payments being scheduled for various months throughout the fiscal year and the timing of the payments. Transfers-others are not yet made for the fiscal year. Auxiliary Grants and contracts are high because the majority of these are received in the first quarter. Bookstore revenues lag behind and are expected in the second quarter. Other auxiliary enterprises revenues represent yearly parking permits purchased. Scholarships & fellowships expenditures are less than expected due to reduction of scholarships awarded. Page 1

UNIVERSITY OF ARKANSAS FORT SMITH For Quarter Ending September 30, 2017 EXECUTIVE SUMMARY Debt Service shortage is from payments scheduled for various months throughout the year and the timing of the payments. Other represent transfers not yet made for the year. Other Athletics new program was added and budget will be added in second quarter. Other operating revenues are from unanticipated, sporadic income. Compensation & benefits is from unfilled job vacancies related to grants. Scholarships & fellowships expenditures are higher than expected. Investment income loss in the first quarter and should gain back later in the year. Interest on capital asset-related debt is due to debt service interest payments being scheduled for various months throughout the physical year and the timing of the payments. Debt service due to debt service interest payments being scheduled for various months throughout the fiscal year. Transfers-others not yet made for the fiscal year. Paul B. Beran, PhD Chancellor Page 2

University of Arkansas - Fort Smith Actual and Budgeted Revenues, Expenses and Changes in Net Position For the Quarter Ending September 30, 2017 Educational & General Auxiliary Other Total Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget as of End of Q1 Year-to-Date Realized as of End of Q1 Year-to-Date Realized as of End of Q1 Year-to-Date Realized as of End of Q1 Year-to-Date Realized OPERATING REVENUE Student tuition & fees 34,412,224 17,543,671 51.0% 4,701,632 2,516,731 53.5% 39,113,856 20,060,402 51.3% (3,803,566) (1,727,867) 45.4% (633,497) (351,926) 55.6% (4,437,063) (2,079,793) 46.9% (17,327,355) (7,871,392) 45.4% (17,327,355) (7,871,392) 45.4% Patient services Federal and county appropriations Grants and contracts 408,805 330 0.1% 85,500 56,428 66.0% 6,958,025 499,080 7.2% 7,452,330 555,838 7.5% Sales/services of educational departments 294,010 34,462 11.7% 18,000 2,313 12.9% 312,010 36,775 11.8% Insurance plan Auxiliary enterprises: Athletics 97,400 40,580 41.7% - 6,815 97,400 47,395 48.7% Housing/food service 5,536,750 2,824,574 51.0% 5,536,750 2,824,574 51.0% (396,082) (172,726) 43.6% (396,082) (172,726) 43.6% (2,063,607) (994,537) 48.2% (2,063,607) (994,537) 48.2% Bookstore 387,000 0.0% 387,000 Other auxiliary enterprises 531,950 396,851 74.6% 531,950 396,851 74.6% (250,000) (139,209) 55.7% (250,000) (139,209) 55.7% Other operating revenues 350,200 253,002 72.2% 138 350,200 253,140 72.3% TOTAL OPERATING REVENUES 31,661,673 16,103,598 50.9% 10,310,653 5,310,512 51.5% (12,664,937) (8,496,792) 67.1% 29,307,389 12,917,318 44.1% OPERATING EXPENSES Compensation & benefits 41,896,829 7,583,375 18.1% 2,185,995 462,597 21.2% 3,205,742 552,793 17.2% 47,288,566 8,598,765 18.2% Supplies & services 13,178,744 3,687,711 28.0% 4,989,790 959,273 19.2% 2,209,394 493,431 22.3% 20,377,928 5,140,415 25.2% Scholarships & fellowships 1,425,564 183,868 12.9% 369,254 132,225 35.8% 1,867,848 1,443,091 77.3% 3,662,666 1,759,184 48.0% Insurance plan Depreciation 7,725,000 1,930,216 25.0% 7,725,000 1,930,216 25.0% Contingency TOTAL OPERATING EXPENSES 56,501,137 11,454,954 20.3% 7,545,039 1,554,095 20.6% 15,007,984 4,419,531 29.4% 79,054,160 17,428,580 22.0% OPERATING LOSS (24,839,464) 4,648,644-18.7% 2,765,614 3,756,417 135.8% (27,672,921) (12,916,323) 46.7% (49,746,771) (4,511,262) 9.1%

University of Arkansas - Fort Smith Actual and Budgeted Revenues, Expenses and Changes in Net Position For the Quarter Ending September 30, 2017 Educational & General Auxiliary Other Total Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget as of End of Q1 Year-to-Date Realized as of End of Q1 Year-to-Date Realized as of End of Q1 Year-to-Date Realized as of End of Q1 Year-to-Date Realized NON-OPERATING REVENUES (EXPENSES) State appropriations 23,962,374 6,136,602 25.6% 23,962,374 6,136,602 25.6% Property & sales tax 6,219,517 16,973 0.3% 6,219,517 16,973 0.3% Grants 19,439,500 8,105,199 41.7% 19,439,500 8,105,199 41.7% Gifts Investment income 3,500 1,865 53.3% 2,500 870 34.8% 3,100 (14,151) -456.5% 9,100 (11,416) -125.5% Interest on capital asset-related debt (2,658,540) (3,378) 0.1% (2,658,540) (3,378) 0.1% Other 1,000 284 28.4% 1,000 284 28.4% NET NON-OPERATING REVENUES 30,185,391 6,155,440 20.4% 2,500 870 34.8% 16,785,060 8,087,954 48.2% 46,972,951 14,244,264 30.3% INCOME (LOSS) BEFORE OTHER REV/EXP 5,345,927 10,804,084 202.1% 2,768,114 3,757,287 135.7% (10,887,861) (4,828,369) 44.3% (2,773,820) 9,733,002-350.9% OTHER CHANGES IN NET ASSETS Capital appropriations 135,743 8,187 6.0% 135,743 8,187 6.0% Capital gifts and grants Other TOTAL OTHER CHANGES - - - - 135,743 8,187 135,743 8,187 6.0% TRANSFERS IN (OUT) Debt Service (5,310,829) (124,555) 2.3% (2,671,688) 0.0% 7,982,517 124,555 1.6% - - Other (474,014) 0.0% (96,426) 0.0% 570,440 0.0% - TOTAL TRANSFERS IN (OUT) (5,784,843) (124,555) 2.2% (2,768,114) - 0.0% 8,552,957 124,555 1.5% - - INCREASE IN NET POSITION (438,916) 10,679,529-2433.16% - 3,757,287 (2,199,161) (4,695,627) 213.5% (2,638,077) 9,741,189-369.3%

University of Arkansas at Little Rock

University of Arkansas at Little Rock Executive Summary For the Quarter Ending September 30, 2017 The University of Arkansas at Little Rock financial data reports for the quarter ending September 30, 2017 are attached in the format requested. These reports are prepared on a modified accrual basis of accounting. As of the end of this period, Educational & General, Auxiliary and Other revenues were greater than expenditures by $13,366,390, $5,321,857, and $3,574,445, respectively. The total of all funds reflects revenues exceeding expenditures by $22,262,692. Educational & General The amount of actual tuition and fees revenues are slightly below expectations for the fall semester as actual full time equivalency enrollment is approximately 3% under projections. Currently reviews are underway in order to determine whether budget reductions will be needed. Amounts reported for scholarships and fellowships and various institutional scholarship allowances are in line with expectations as they reflect the full academic semester. However, concurrent enrollment waivers are slightly over budget due to an increase in concurrently enrolled students. Non-operating gifts and investment income are above projections for the quarter due early receipt of gifts and increased earnings on investments due to market fluctuations. Debt service transfers reflect that payments are made primarily in the first and third quarters. Other transfers indicate funds were moved as anticipated for the year in the first quarter. Auxiliary Amounts reported for scholarships and fellowships and various institutional scholarship allowances are in line with expectations as they reflect the full academic semester. Other transfers indicate funds were moved as anticipated for the year in the first quarter. There are no other material differences to report on Auxiliary funds for the first quarter. Other

University of Arkansas at Little Rock Executive Summary For the Quarter Ending September 30, 2017 Amounts reported for scholarships and fellowships and various institutional scholarship allowances are in line with expectations as they reflect the full academic semester. Sales and services of educational departments revenue reflects funds received for the semester as a whole. BUDGET ADJUSTMENTS Several minor budget adjustments and reclassifications were made during the quarter and are explained in detail on the enclosed report. Respectfully submitted, Andrew Rogerson Chancellor

University of Arkansas at Little Rock Actual and Budgeted Revenues, Expenses and Changes in Net Position For the Quarter Ending September 30, 2017 Page 1 of 2 Educational & General Auxiliary Other Total Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized OPERATING REVENUE Student tuition & fees 76,719,761 38,165,204 49.7% - 0.0% 76,719,761 38,165,204 49.7% (9,903,649) (4,951,825) 50.0% (9,903,649) (4,951,825) 50.0% (13,383,571) (6,691,786) 50.0% (13,383,571) (6,691,786) 50.0% Patient services Federal and county appropriations Grants and contracts 35,750,012 7,610,327 21.3% 35,750,012 7,610,327 21.3% Sales/services of educational departments 795,241 246,309 31.0% 473,751 282,819 59.7% 1,268,992 529,128 41.7% Insurance plan Auxiliary enterprises: Athletics 6,286,288 2,099,257 33.4% 6,286,288 2,099,257 33.4% (527,485) (263,743) 50.0% (163,691) (81,846) 50.0% (691,176) (345,589) 50.0% (936,059) (468,030) 50.0% (936,059) (468,030) 50.0% Housing/food service 9,954,534 4,917,264 49.4% 9,954,534 4,917,264 49.4% (1,387,073) (693,537) 50.0% (430,442) (215,221) 50.0% (1,817,515) (908,758) 50.0% (2,461,463) (1,230,732) 50.0% (2,461,463) (1,230,732) 50.0% Bookstore 430,000 146,675 34.1% 430,000 146,675 34.1% (56,969) (28,485) 50.0% (17,679) (8,840) 50.0% (74,648) (37,325) 50.0% (101,096) (50,548) 50.0% (101,096) (50,548) 50.0% Other auxiliary enterprises 1,849,539 657,431 35.5% 1,849,539 657,431 35.5% Other operating revenues 2,228,197 752,281 33.8% 2,050,000 562,951 27.5% 4,278,197 1,315,232 30.7% TOTAL OPERATING REVENUES 67,868,023 33,226,204 49.0% 17,908,549 7,514,720 42.0% 21,391,574 15,001 0.1% 107,168,146 40,755,925 38.0% OPERATING EXPENSES Compensation & benefits 94,678,262 20,479,949 21.6% 6,299,064 1,458,402 23.2% 15,649,331 4,554,055 29.1% 116,626,657 26,492,406 22.7% Supplies & services 22,735,694 4,985,004 21.9% 8,803,036 1,727,088 19.6% 25,911,676 3,842,899 14.8% 57,450,406 10,554,991 18.4% Scholarships & fellowships 4,795,628 2,669,806 55.7% 2,110,607 1,032,740 48.9% 9,648,683 3,776,449 39.1% 16,554,918 7,478,995 45.2% Insurance plan 0.0% - - Depreciation 15,960,411 3,990,103 25.0% 15,960,411 3,990,103 25.0% Contingency 1,103,088 268,993 1,372,081 TOTAL OPERATING EXPENSES 123,312,672 28,134,759 22.8% 17,481,700 4,218,230 24.1% 67,170,101 16,163,506 24.1% 207,964,473 48,516,495 23.3% OPERATING LOSS (55,444,649) 5,091,445-9.2% 426,849 3,296,490 772.3% (45,778,527) (16,148,505) 35.3% (100,796,327) (7,760,570) 7.7%

University of Arkansas at Little Rock Actual and Budgeted Revenues, Expenses and Changes in Net Position For the Quarter Ending September 30, 2017 Page 2 of 2 Educational & General Auxiliary Other Other Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized NON-OPERATING REVENUES (EXPENSES) State appropriations 67,041,825 17,207,492 25.7% 418,369 0.0% 67,041,825 17,625,861 26.3% Property & sales tax - - Grants 24,232,028 11,252,559 46.4% 24,232,028 11,252,559 46.4% Gifts 170,455 378,843 222.3% 2,881,088 763,664 26.5% 3,051,543 1,142,507 37.4% Investment income 210,500 284,065 134.9% 651,000 435,727 66.9% 861,500 719,792 83.6% Interest on capital asset-related debt (4,556,706) (613,282) 13.5% (4,556,706) (613,282) 13.5% Other (104,176) 100.0% - (104,176) 100.0% NET NON-OPERATING REVENUES 67,422,780 17,870,400 26.5% - - 23,207,410 12,152,861 52.4% 90,630,190 30,023,261 33.1% INCOME (LOSS) BEFORE OTHER REV/EXP 11,978,131 22,961,845 191.7% 426,849 3,296,490 772.3% (22,571,117) (3,995,644) 17.7% (10,166,137) 22,262,691-219.0% OTHER CHANGES IN NET ASSETS Capital appropriations - - Capital gifts and grants - - Other - - TOTAL OTHER CHANGES - - - - - - - - TRANSFERS IN (OUT) Debt Service (5,707,120) (2,893,234) 50.7% (3,913,250) (1,331,168) 34.0% 9,620,370 4,224,402 43.9% - - Other (6,271,011) (6,702,221) 106.9% 3,486,401 3,356,535 96.3% 2,784,610 3,345,686 120.1% - - TOTAL TRANSFERS IN (OUT) (11,978,131) (9,595,455) 80.1% (426,849) 2,025,367-474.5% 12,404,980 7,570,088 61.0% - - INCREASE IN NET POSITION - 13,366,390-5,321,857 (10,166,137) 3,574,444-35.2% (10,166,137) 22,262,691-219.0%

University of Arkansas for Medical Sciences

University of Arkansas for Medical Sciences Executive Summary of Larger Variances For the Three Months Ended September 30, 2017 All Funds Excluding Agency Funds Overview: For the first quarter of fiscal 2018, UAMS experienced a decrease in net position of $12.6 million. This decrease in net position was more than the budgeted decrease by $2.8 million and exceeded the decrease from the comparable prior year s first quarter by $10.4 million. Total actual operating revenues for this quarter were less than budgeted revenues by $1.5 million (.4%). However, total operating revenues exceeded those of the comparable first quarter of the prior year by $18.3 million (5.2%). This unfavorable first quarter budget variance was primarily due to Net Patient Service revenues not meeting the expectations of an aggressive fiscal 2018 budget, missing that budget target by $4.9 million (1.6%). However, the actual first quarter Net Patient Service revenues exceeded those of the comparable first quarter of the prior year by $10.6 million (3.6%). Total actual operating expenses exceeded budget by $3.7 million (.9%) and exceeded the comparable prior year s first quarter by $24.6 million (6.6%). Both of these variances were attributable to the largest category of operating expenses, which was compensation and benefits. Supplies and other expenses exceeded budget by only 1.3% and the comparable prior period by just 2.2%. Operating expenses included depreciation expense of $16.3 million, which was 4.1% of total operating expenses. Therefore, the total actual operating loss exceeded the budgeted loss by $5.2 million (23.4%) and exceeded the loss of the comparable first quarter of the prior year by $6.2 million (29.5%). Total actual non-operating revenues exceeded budget by $1.7 million (14.4%). However, these revenues were less than the comparable prior year s first quarter by $4.3 million (24.0%). Both of these variances were primarily attributed to net investment gains. While these gains exceeded fiscal 2018 s first quarter budget, the actual gains of the first quarter of fiscal 2018 were 41% less than the gains recognized in the comparable first quarter of the prior year. Following are more specific explanations of larger variances by category for the first quarter of fiscal 2018: Operating Revenue Variances: 1. Net Patient Service revenues, which comprised 81% of total operating revenues for the first quarter of fiscal 2018, continued to have positive growth year over year, coming in 3.6% higher than the comparable quarter of the prior year. However, these revenues were 1.6% less than fiscal 2018 s expanded revenue budget. The Integrated Clinical Enterprise (ICE) actual patient volumes in the first quarter were, generally, less than budgeted and only slightly more than the comparable quarter of the prior year, as noted by the variances in the following key indicators: Page 1 of 2

University of Arkansas for Medical Sciences Executive Summary of Larger Variances For the Three Months Ended September 30, 2017 All Funds Excluding Agency Funds Key Indicator % Variance Budget Prior Year Total Inpatient Discharges -5.3% 0.3% Total Adult Equivalent Average Daily Census 1.8% -1.7% Emergency Department Visits 3.3% 0.7% Surgical Cases -2.1% 2.6% Clinic Visits -2.8% 1.6% Work Relative Value Units (RVUs) -7.8% -3.0% 2. Other Operating revenues exceeded the budget for the first quarter by $2.1 million (14.0%) and, also, exceeded that of the comparable quarter of the prior year by $3.4 million (24.7%). These favorable variances were due mainly to the growth in the contract pharmacy business, primarily from the increased activity of the Federal 340B program. Operating Expense Variances: 1. Compensation and benefits $2.5 million (1.0%) above budget: This unfavorable budget variance was primarily due to increases in patient care staffing in ICE to prepare for budgeted higher patient volumes. The $7.7 million (6%) unfavorable budget variance ICE experienced in this expense line was offset was offset by favorable variances in most other campus divisions. 2. Compensation and benefits $22.4 million (9.3%) more than prior year: This increase over the prior year was primarily due to a combination of (A) pay increases per the implementation of the campus-wide compensation plan to reduce the gap in UAMS salaries compared to the market, and (B) higher full time equivalent (FTE) employee count in the clinical areas. The largest portion of this year over year increase was in ICE, where the compensation plan adjustment accounted for 1/3 rd of this increase, with the remaining 2/3 rd attributable to a larger number of FTEs. Page 2 of 2

University of Arkansas for Medical Sciences Summary Statement of Revenues, Expenses and Changes in Net Position For the Three Months Ended September 30, 2017 All Funds Excluding Agency Funds Fiscal 2018 Variance Budget Actual Prior Year Actual Variance Operating Revenues Student tuition and fees $ 780,008 $ 11,783,007 $ 12,563,015 $ 12,454,905 $ 108,110 Net patient services (4,892,771) 307,417,149 302,524,378 291,935,732 10,588,646 Meaningful use 594,462 126,481 720,943 229,218 491,725 Federal grants and contracts (1,602,885) 18,551,606 16,948,721 16,405,677 543,045 State grants and contracts (706,260) 6,921,862 6,215,603 6,291,731 (76,128) Nongovernmental grants and contracts 2,020,887 2,385,140 4,406,027 1,801,536 2,604,491 Sales and services-educational depts 333,988 8,437,500 8,771,488 7,762,733 1,008,755 Auxiliary enterprises Housing and food services (36,789) 2,314,708 2,277,918 2,439,488 (161,569) Parking (91,292) 812,498 721,206 806,086 (84,880) Other 12,875 31 12,906 60,497 (47,591) Other operating revenues 2,080,906 14,872,488 16,953,394 13,598,935 3,354,459 Total Operating Revenues (1,506,872) 373,622,472 372,115,599 353,786,537 18,329,062 Operating Expenses Compensation and benefits 2,486,885 260,234,117 262,721,001 240,280,792 22,440,209 Supplies and other services 1,519,196 118,298,449 119,817,645 117,266,176 2,551,469 Scholarship and fellowships 390,714 224,586 615,299 409,954 205,346 Depreciation and amortization (721,702) 17,026,424 16,304,722 16,939,940 (635,218) Total Operating Expenses 3,675,093 395,783,576 399,458,668 374,896,862 24,561,806 Operating Income (Loss) (5,181,965) (22,161,104) (27,343,069) (21,110,324) (6,232,745) Nonoperating Revenues (Expenses) State appropriations (net of match) (99,472) 6,870,077 6,770,605 7,830,653 (1,060,048) Gifts (873,587) 6,068,635 5,195,048 5,678,219 (483,171) Investment income 2,026,537 2,323,372 4,349,909 7,278,094 (2,928,184) Interest on capital 675,029 (3,278,990) (2,603,961) (2,749,290) 145,330 Loss on disposal of capital assets (1,271) (2,450) (3,721) (9,007) 5,286 Total Nonoperating Revenues, Net 1,727,237 11,980,644 13,707,880 18,028,669 (4,320,788) Income (Loss) Before Other Changes in Net Position (3,454,728) (10,180,460) (13,635,189) (3,081,655) (10,553,533) Other Changes In Net Position Capital gifts 362,859 375,000 737,859 830,047 (92,188) Interagency Transfers 251,560-251,560-251,560 Total Other Changes In Net Position 614,419 375,000 989,419 830,047 159,372 Increase (Decrease) In Net Position $ (2,840,310) $ (9,805,460) $ (12,645,770) $ (2,251,609) $ (10,394,161)

University of Arkansas for Medical Sciences Summary Statement of Revenues, Expenses and Change in Net Position by Fund Groups For the Three Months Ended September 30, 2017 All Funds Excluding Agency Funds Unrestricted Funds Restricted Funds Plant Funds Prior Year Fiscal 2018 Prior Year Fiscal 2018 Prior Year Fiscal 2018 Actual Actual Budget Variance Actual Actual Budget Variance Actual Actual Budget Variance Operating Revenues Student tuition and fees $ 12,454,905 $ 12,563,015 $ 11,783,007 $ 780,008 $ - $ - $ - $ - $ - $ - $ - $ - Net patient services 291,543,890 302,430,991 307,417,149 (4,986,158) 391,844 93,387-93,387 - - - - Meaningful use 229,218 720,943 126,481 594,462 - - - - - - - - Federal grants and contracts 405,187 111,753 557,557 (445,804) 16,000,489 16,836,968 17,994,049 (1,157,080) - - - - State grants and contracts 1,717,644 1,598,365 1,393,752 204,613 4,537,285 4,586,624 5,503,110 (916,486) 36,800 30,613 25,000 5,613 Nongovernmental grants and contracts 803,051 1,162,139 386,660 775,479 998,486 3,243,888 1,998,480 1,245,408 - - - - Sales and services-educational depts 7,762,733 8,771,488 8,437,500 333,988 - - - - - - - - Auxiliary enterprises Housing and food services 2,439,488 2,277,918 2,314,708 (36,789) - - - - - - - - Parking 806,086 721,206 812,498 (91,292) - - - - - - - - Other 60,497 12,906 31 12,875 - - - - - - - - Other operating revenues 12,321,281 15,340,484 14,010,662 1,329,821 1,270,452 354,526 812,988 (458,462) 7,202 1,258,385 48,838 1,209,547 Total Operating Revenues 330,543,980 345,711,209 347,240,007 (1,528,798) 23,198,556 25,115,392 26,308,627 (1,193,234) 44,001 1,288,998 73,838 1,215,160 Operating Expenses Compensation and benefits 224,326,721 244,500,364 241,066,769 3,433,595 15,817,454 18,096,183 19,058,233 (962,050) 136,617 124,454 109,115 15,340 Supplies and other services 103,581,211 105,922,419 104,679,109 1,243,310 13,824,540 13,263,479 13,098,225 165,254 (139,574) 631,748 521,115 110,632 Scholarship and fellowships (1,215,392) (1,278,738) (355,226) (923,512) 1,625,345 1,894,037 579,812 1,314,226 - - - - Depreciation and amortization (31) (11,891) 41,496 (53,387) - - - - 16,939,971 16,316,613 16,984,928 (668,315) Total Operating Expenses 326,692,510 349,132,154 345,432,148 3,700,006 31,267,338 33,253,699 32,736,270 517,429 16,937,014 17,072,815 17,615,158 (542,343) Operating Income (Loss) 3,851,471 (3,420,945) 1,807,859 (5,228,804) (8,068,783) (8,138,307) (6,427,643) (1,710,664) (16,893,013) (15,783,817) (17,541,320) 1,757,503 Non-Operating Revenues (Expenses) State appropriations (net of match) 7,305,577 6,245,529 6,820,077 (574,548) 525,076 525,076 50,000 475,076 - - - - Gifts 109,211 (29,340) 25,373 (54,714) 5,474,517 5,224,388 6,043,261 (818,873) 94,491 - - - Investment income 4,962,103 2,856,927 2,066,504 790,422 2,287,077 1,457,394 219,368 1,238,026 28,914 35,589 37,500 (1,911) Interest on capital (178,367) (144,201) (217,276) 73,075-757 - 757 (2,570,924) (2,460,516) (3,061,714) 601,198 Loss on disposal of capital assets - 10,586 (2,450) 13,036 (1,902) - - - (7,105) (14,307) - (14,307) Total Non-Operating Revenues, Net 12,198,524 8,939,500 8,692,229 247,272 8,284,768 7,207,614 6,312,629 894,985 (2,454,623) (2,439,234) (3,024,214) 584,980 Income (Loss) Before Other Changes in Net Position 16,049,995 5,518,555 10,500,088 (4,981,532) 215,985 (930,693) (115,014) (815,679) (19,347,635) (18,223,051) (20,565,534) 2,342,483 Other Changes In Net Position Capital gifts - 55,000-55,000 11,048 709,239-709,239 818,998 (26,380) 375,000 (401,380) Interagency transfers - - - - - 251,560-251,560 - - - - Total Other Changes In Net Position - 55,000-55,000 11,048 960,799-960,799 818,998 (26,380) 375,000 (401,380) Transfers In (Out) Debt service (4,738,657) (4,476,580) (5,309,886) 833,306 - - - - 4,738,657 4,476,580 5,309,886 (833,306) Capital transfers (1,075,132) (959,127) (680,110) (279,017) (87,593) 24,417 (667,500) 691,917 1,162,725 934,710 1,347,610 (412,900) Other transfers (3,127,377) (3,450,390) (3,662,026) 211,636 450,314 361,241 630,483 (269,242) 2,677,063 3,089,149 3,031,543 57,606 Total transfers (8,941,167) (8,886,097) (9,652,021) 765,925 362,722 385,658 (37,017) 422,675 8,578,445 8,500,439 9,689,038 (1,188,600) Increase (Decrease) In Net Position $ 7,108,828 $ (3,312,541) $ 848,066 $ (4,160,608) $ 589,755 $ 415,764 $ (152,031) $ 567,795 $ (9,950,192) $ (9,748,993) $ (10,501,495) $ 752,503

University of Arkansas at Monticello

UNIVERSITY OF ARKANSAS AT MONTICELLO EXECUTIVE SUMMARY Enclosed are the quarterly reports for the University of Arkansas at Monticello for the quarter ending September 30, 2017. Actual and Budgeted Revenues, Expenses and Changes in Net Position For the Quarter Ending September 30, 2017 Unrestricted Educational and General (E&G) Revenues exceeded Unrestricted E&G Expenses by $5,969,979 as of September 30, 2017. This is shown in the Actual Year-to-Date column for E&G as Increase in Net Position. Unrestricted Auxiliary Revenues exceeded Unrestricted Auxiliary Expenses by $868,520 for the first quarter shown as Actual Year-to-Date for Auxiliary. The Other category shown on the report includes the Restricted E&G Fund, Restricted Auxiliary, Plant Funds, Endowment Funds and Loan Funds. As shown in the Actual Year-to-Date column, these expenses exceeded the revenues by $831,328 for the quarter ending September 30, 2017. There are no material variances to explain in this first quarter report. Budget Adjustments Made in the Quarter Ended September 30, 2017 Several budget adjustments were made during the first quarter and these adjustments are explained in detail on the enclosed report. Karla Hughes Chancellor

Page 1 of 2 UNIVERSITY OF ARKANSAS AT MONTICELLO Actual and Budgeted Revenues, Expenses and Changes in Net Position For the Quarter Ending September 30, 2017 Educational & General Auxiliary Other Total Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized OPERATING REVENUE Student tuition & fees 18,559,011 10,859,772 58.5% 18,559,011 10,859,772 58.5% (2,108,025) (1,354,245) 64.2% (627,894) (333,567) 53.1% (2,735,919) (1,687,812) 61.7% (5,059,006) (2,502,821) 49.5% (5,059,006) (2,502,821) 49.5% Patient services Federal and county appropriations Grants & contracts 4,853,802 581,834 12.0% 4,853,802 581,834 12.0% Sales/services of educational departments 154,500 123,031 79.6% 154,500 123,031 79.6% Insurance plan Auxiliary enterprises: Athletics 1,202,448 662,948 55.1% 1,202,448 662,948 55.1% (77,341) (49,686) 64.2% (23,037) (12,238) 53.1% (100,378) (61,924) 61.7% (185,609) (91,825) 49.5% (185,609) (91,825) 49.5% Housing/food service 3,872,423 2,191,656 56.6% 3,872,423 2,191,656 56.6% (486,940) (312,822) 64.2% (145,039) (77,052) 53.1% (631,979) (389,874) 61.7% (1,168,597) (578,135) 49.5% (1,168,597) (578,135) 49.5% Bookstore 703,253 248,765 35.4% 703,253 248,765 35.4% (31,830) (20,448) 64.2% (9,481) (5,037) 53.1% (41,311) (25,485) 61.7% (76,388) (37,791) 49.5% (76,388) (37,791) 49.5% Other auxiliary enterprises 1,060,171 555,848 52.4% 1,060,171 555,848 52.4% (87,951) (56,502) 64.2% (26,197) (13,917) 53.1% (114,148) (70,419) 61.7% (211,071) (104,422) 49.5% (211,071) (104,422) 49.5% Other operating revenues 431,319 92,410 21.4% 431,319 92,410 21.4% TOTAL OPERATING REVENUES 16,352,743 9,281,510 56.8% 6,006,647 3,217,406 53.6% (1,846,869) (2,733,160) 148.0% 20,512,521 9,765,756 47.6% OPERATING EXPENSES Compensation & benefits 24,126,148 5,237,068 21.7% 1,736,730 423,534 24.4% 1,568,884 445,810 28.4% 27,431,762 6,106,412 22.3% Supplies & services 6,457,442 1,677,091 26.0% 3,363,629 875,044 26.0% 2,377,771 155,610 6.5% 12,198,842 2,707,745 22.2% Scholarships & fellowships 1,709,099 1,097,967 64.2% 509,070 270,442 53.1% 4,101,619 2,029,185 49.5% 6,319,788 3,397,594 53.8% Insurance plan Depreciation 3,664,070 899,657 24.6% 3,664,070 899,657 24.6% Contingency 932,481 932,481 TOTAL OPERATING EXPENSES 33,225,170 8,012,126 24.1% 5,609,429 1,569,020 28.0% 11,712,344 3,530,262 30.1% 50,546,943 13,111,408 25.9% OPERATING LOSS (16,872,427) 1,269,384-7.5% 397,218 1,648,386 415.0% (13,559,213) (6,263,422) 46.2% (30,034,422) (3,345,652) 11.1%

Page 2 of 2 UNIVERSITY OF ARKANSAS AT MONTICELLO Actual and Budgeted Revenues, Expenses and Changes in Net Position For the Quarter Ending September 30, 2017 Educational & General Auxiliary Other Total Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget Annual Budget ACTUAL % of Budget as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized as of End of Q Year-to-Date Realized NON-OPERATING REVENUES (EXPENSES) State appropriations 18,464,754 4,729,241 25.6% 18,464,754 4,729,241 25.6% Property & sales tax Grants 9,895,143 4,548,918 46.0% 9,895,143 4,548,918 46.0% Gifts 25,000 0.0% 25,000-0.0% Investment income 269,243 22,757 8.5% 1 205,000 71,570 474,243 94,328 19.9% Interest on capital asset-related debt (1,213,665) (19,664) 1.6% (1,213,665) (19,664) 1.6% Other NET NON-OPERATING REVENUES 18,733,997 4,751,998 25.4% - 1 8,911,478 4,600,824 51.6% 27,645,475 9,352,823 33.8% INCOME (LOSS) BEFORE OTHER REV/EXP 1,861,570 6,021,382 323.5% 397,218 1,648,387 (4,647,735) (1,662,598) 35.8% (2,388,947) 6,007,171-251.5% OTHER CHANGES IN NET ASSETS Capital appropriations Capital gifts and grants 150,000 0.0% 150,000 Other TOTAL OTHER CHANGES 150,000-0.0% 150,000-0.0% TRANSFERS IN (OUT) Debt Service (1,060,372) (51,403) 4.8% (1,198,416) (779,867) 65.1% 2,258,788 831,270 36.8% - - Other (801,198) 0.0% 801,198 0.0% - TOTAL TRANSFERS IN (OUT) (1,861,570) (51,403) 2.8% (397,218) (779,867) 2,258,788 831,270 36.8% - - INCREASE IN NET POSITION - 5,969,979-868,520 (2,238,947) (831,328) 37.1% (2,238,947) 6,007,171-268.3%