Linda D. Robertson Associate Executive Director for Business September 2017
Understanding the Budget 2017-18 Forecast: Beginning Balances (July 2017) $ 5,354,987 Plus Revenue (income) $ 5,620,630 Less Expenses $ (5,718,423) = Ending Balances (June 2018) $ 5,257,194 Fund Balance will decrease by $(97,793) FHSAA policy requires a Fund Balance of 75% -150% Budgeted Ending Balance is 94% of revenue
Fund Balance = Stability FHSAA has no taxing power and does not receive grants or state allocations Protects the organization from unexpected drops in revenue and unexpected rise in costs FHSAA relies on Corporations and Events for 84% of revenue volatile and unpredictable Policy 9.1.5 requires minimum of 75% (9 months) to maximum of 150% (18 months) of operating revenue Major watchdog groups say less than 50% shows instability, more than 300% may be excessive Florida High School Athletic Association
Changes for 2017-18 $48,450 General Fees Reduced to Member Schools Reduced Fines 1. $ 32,050 Reduced Drop/Add, Late Entry Fees 1. $16,400 2. 3.
Changes for 2017-18 $101,500 Growth in Corporate Revenue Team IP - new merchandise contract MaxPreps & Florida Dairy Farmers replace Champion and Sports Authority
Changes for 2017-18 Expansion of digital ticketing for State Series
Changes for 2017-18 $78,000 increase in legal cost share fees Prior year high profile cases caused increase in legal costs. Costs are shared with member schools on a pro-rata basis High Schools will pay $257 each ($53 more than prior year).
Changes for 2017-18 More Opportunities for Student-Athletes New Finals Event: Dual Team Wrestling Provides more state championships Prior Year added 9 th class to Girls & Boys Basketball Girls Volleyball
Continued Support Recognition Programs $50,000 College Scholarships $30,000 Sportsmanship Awards $25,850 Hall of Fame
Changes for 2017-18 $122,300 Savings in software costs Home Campus school administrative software saving $128,300 compared to C2C Arbiter providing officials registration software for $6,000 increased cost over prior year (total cost of $26,000 annually).
Changes for 2017-18 New Host Contracts State Finals Track Moving to University of North Florida. $8,000 less in revenue share for FHSAA Girls Volleyball Moving to University of North Florida. $16,000 host fee; $16,000 less will be paid in team payouts.
Changes for 2017-18 Balancing Rising Costs with Efficiency $ 137,000 insurance and cost of living $(198,000) reduction in other areas to help offset rising costs Books $(95,000) Donations $(50,000) Transfer to Land Corp $(30,000) Awards $(23,000)
Changes to Tentative Budget Tentative Final Difference July 1, 2017 Fund Balance $ 5,220,665.00 $ 5,354,987.00 $ 134,322.00 Estimated Revenue $ 5,564,230.00 $ 5,620,630.00 $ 56,400.00 Estimated Expense $ (5,673,473.00) $ (5,718,423.00) $ (44,950.00) Est. June 30, 2018 Balance $ 5,111,422.00 $ 5,257,194.00 $ 145,772.00 2018 Fund Balance as % of Rev 91.9% 93.5% 1.7% Changes: Added Dual Team Wrestling Adjusted to actual prior year for spring sports Adjusted track and girls volleyball for new Finals host contracts Adjusted to prior year in officials, classics, corporate events, fees, Sport Advisory Increased property/casualty insurance to match new rates
2017-18 Revenue $5,620,630 Officials Fees 8% $450,600 Dues & Fees, 4% Service Fees $246,100 1% $65,300 Fines, 1% $54,300 Invest & Other 2% $95,000 Championships 24% $1,328,600 Corporate 39% $2,194,930 State Series Playoff 15% $859,800 Classics 6% $326,000
2017-18 Revenue $5,620,630 Dues & Fees, 4% $246,100 Service Fees 1% Officials Fees $65,300 8% $450,600 Fines, 1% $54,300 Invest & Other 2% $95,000 Championships 24% $1,328,600 Corporate 39% $2,194,930 State Series Playoff 15% $859,800 Classics 6% $326,000 $626,400 From Member Schools Classics, Dues/Fees, Fines 11% of Total
Corporate Sponsors $319,000 Royalties $372,400 3 rd Party Event Fees $135,400 2017-18 Corporate Income $2,187,480 = 39% of Resources Media $635,000 Product Sponsors $725,380 Florida High School Athletic Association
2017-18 FHSAA State Championship Budget 242 Finals Events will be Hosted by FHSAA 120,000 people will pay admission (incl State Passes) $1,103,600 Estimated Revenue (24% of FHSAA Rev) $725,425 Estimated Expense: Participating teams paid $425,000 Officials $108,650 Trophies $117,000 Other event costs $98,100 Net Income for FHSAA = $378,175
2017-18 State Series District through Semi-Finals Revenue Sharing $5.2 Million for Schools $860 thousand for FHSAA = 15% of FHSAA Revenue % of Gate Receipts Schools KEEP: 100% for 21 sports 85% for 7 sports 75% for football
2017-18 Expenses - $5,718,423 Utilities, Insurance 7% $393,100 Communications 16% $911,478 Compliance 11% $654,339 Athletic Services & Events 36% $2,041,584 Recognition 3% $153,452 General Services Fiscal, Tech, Contracting $623,871 11% Board & Admin 7% $414,389 Officials 9% $526,210
How the FHSAA uses Resources State Series Product Donors Athletics Registration Fees Official s wear Officials Florida High School Athletic Association
How the FHSAA uses Resources Corporate Sponsors Portion of Royalties Communications Fines and Sponsors Scholarships & Recognition Florida High School Athletic Association
How the FHSAA uses Resources Classics Fees 3 rd Party Corporate Member Dues/Fees Compliance & Eligibility Media Rights Royalties and Sponsors Investments General Support Florida High School Athletic Association
Financial Goal Fund the organization with 100% ticket sales from State Finals, Sponsorships, Media contracts, and Royalties so there is No Financial Burden to our Schools