Professional Documents
Culture Documents
9.
Adjourn
___________
Date
Executive Committee
From:
Date:
Please find attached the Statement of Financial Position and the Statement of
Activity for the Unrestricted Fund for the five months ended May 31, 2016.
The financial statements presented represent gross operations including all
sources of funding. As of May 31st, we are ahead of budget by $121,000 with a
Net Surplus of $148,000. See below for a discussion of material variances.
Total Public Support Behind Budget by $19,000
Contributions are slightly behind due primarily to a decrease in the semiannual
distribution from our endowment funds at the CFTB this year. The distribution
will be approximately $40,000 less than anticipated this year.
Fees & Grants are behind by $24,000 due in large part to the Childrens Board
After Zone Grant for Marshall and Tomlin Middle Schools in Plant City. There
were delays in getting the program started at Tomlin this year as well as some
other obstacles that have put this program behind our target to date.
Personnel Costs Surplus of $157,000
The surplus is due to a combination of decisions to reduce costs by the CEO by
reorganizing staff and eliminating certain Area Director positions as well as
vacancies in club staff positions in the first quarter that we are in the process of
filling now. As well certain grants were not initiated as early as anticipated and
therefore staff were not in place as budgeted creating a savings there as well.
Occupancy Expense Overage of $26,000
A significant cause of the overage in Occupancy Expense is the increase in the
premiums for property insurance and liability insurance we saw during the
renewal in March. Over the last 4 or 5 renewals, our broker has kept our costs
steady without significant increases however, due to an increase in claims over
the last two years, we could not escape the increase in costs even as we went to
market.
Page 2 of 2
Page 1
Temporarily
Restricted
Fund
5/31/2016
Unrestricted
Fund
5/31/2016
Total
All
Funds
5/31/2016
Endowment
Fund
5/31/2016
Total
All
Funds
5/31/2015
ASSETS
Current Assets
$543,692
Investments
$753,469
Accounts Receivable
Other Receivables
$3,100,533
$11,573
$3,655,798
$1,327,919
$612,034
$1,365,503
$1,877,006
$245,864
$245,864
$423,504
$31,973
$31,973
$30,328
$24,474
$24,474
$27,871
$349,244
$349,244
$1,196,881
Prepaid Expenses
$138,572
$138,572
$74,710
$5,811,428
$4,958,218
$7,610,109
$7,559,914
$2,087,288
$3,100,533
$623,607
$7,610,109
$37,500
$37,500
$45,000
$32,300
$32,300
$44,985
$83,204
$83,204
$79,997
$14,494
$12,730
$14,494
$7,662,103
$115,504
$0
$7,777,607
$7,742,626
$9,749,391
$3,216,037
$623,607
$13,589,035
$12,700,845
Accounts Payable
$170,510
$170,510
$269,035
Accrued Expenses
$306,341
$306,341
$255,031
$19
$4,000
Deferred Revenue
Total Current Liabilities
$476,869
$4,000
$0
$19
$591,536
$4,000
$4,000
$480,869
$1,119,602
Page 2
Temporarily
Restricted
Fund
5/31/2016
Unrestricted
Fund
5/31/2016
Total
All
Funds
5/31/2016
Endowment
Fund
5/31/2016
Total
All
Funds
5/31/2015
Other Liabilities
$136,000
$0
$0
$0
$0
$136,000
$476,869
$4,000
$0
$480,869
$1,255,602
Net Assets
$1,652,915
$1,652,915
$2,108,818
$7,619,607
$7,619,607
$7,479,273
Temporarily Restricted
$3,212,037
Permanently Restricted
Total
Total Net Assets
TOTAL LIABILITIES AND NET ASSETS
$3,212,037
$1,188,073
$623,607
$623,607
$669,079
$9,272,522
$3,212,037
$623,607
$13,108,166
$11,445,243
$9,272,522
$3,212,037
$623,607
$13,108,166
$11,445,243
$9,749,391
$3,216,037
$623,607
$13,589,035
$12,700,845
Actual
1/1/16
to
5/31/16
Total
2016
Budget
365,472
827,583
102,543
1,064,739
2,360,337
355,000
835,000
100,000
1,089,000
2,379,000
10,472
(7,417)
2,543
(24,261)
(18,663)
2.9%
(0.9%)
2.5%
(2.2%)
(0.8%)
850,000
2,283,000
295,000
2,613,000
6,041,000
353,115
764,230
48,188
1,201,627
2,367,160
12,357
63,353
54,355
(136,888)
(6,823)
3.5%
8.3%
112.8%
(11.4%)
(0.3%)
118,120
2,166
18,171
138,457
115,000
3,500
8,800
127,300
3,120
(1,334)
9,371
11,157
2.7%
(38.1%)
106.5%
(25.2%)
272,500
8,000
21,000
301,500
68,629
4,916
2,594
76,139
49,491
(2,750)
15,577
62,318
72.1%
(55.9%)
600.5%
81.8%
561,157
(126,259)
434,898
550,000
(125,000)
425,000
11,157
(1,259)
9,898
2.0%
1.0%
2.3%
856,000
(206,000)
650,000
500,235
(90,312)
409,923
60,922
(35,947)
24,975
12.2%
39.8%
6.1%
2,392
0.1%
6,992,500
2,853,222
80,470
2.8%
10.4%
2.5%
13.7%
(38.6%)
9.5%
3,517,000
359,000
274,000
35,000
4,185,000
1,329,453
135,416
100,616
12,017
1,577,502
89,058
(10,900)
9,989
(8,779)
79,368
6.7%
(8.0%)
9.9%
(73.1%)
5.0%
Variance
%
Revenue
Program Service Revenue
Investment Revenue
Other Revenue
Total Revenue
Special Events
Special Event Revenue
Special Event Expenses
Net Special Events
Total Public Support and Revenue
Expenses
Personnel Costs
Salaries
Employee Benefits
Payroll Taxes
Other Employee Costs
Total Personnel Costs
2,933,692
2,931,300
1,240,395
146,316
90,627
20,796
1,498,134
1,385,000
150,000
105,000
15,000
1,655,000
144,605
3,684
14,373
(5,796)
156,866
1 of 2
Operating Costs
Professional Fees
Contract Services
Supplies
Information Technolgy
Occupancy Expense
Equipment Expense
Printing & Postage
Transportation Expense
Training, Travel & Meetings
Program Services
Other Expenses
Total Operating Costs
Total Expenses
NET SURPLUS/(DEFICIT)
Actual
1/1/16
to
5/31/16
Total
2016
Budget
45,499
13,863
255,769
43,267
606,050
31,255
5,050
73,808
33,808
150,666
28,743
1,287,778
47,500
15,000
265,000
40,000
580,000
31,000
7,000
64,000
35,000
140,000
25,000
1,249,500
2,001
1,137
9,231
(3,267)
(26,050)
(255)
1,950
(9,808)
1,192
(10,666)
(3,743)
(38,278)
4.2%
7.6%
3.5%
(8.2%)
(4.5%)
(0.8%)
27.9%
(15.3%)
3.4%
(7.6%)
(15.0%)
(3.1%)
117,500
76,000
648,500
109,000
1,401,500
75,000
17,000
154,000
73,500
245,500
105,500
3,023,000
58,833
32,842
207,856
54,722
561,795
29,462
8,682
72,890
47,328
103,600
35,245
1,213,255
13,334
18,979
(47,913)
11,455
(44,255)
(1,793)
3,632
(918)
13,520
(47,066)
6,502
(74,523)
22.7%
57.8%
(23.1%)
20.9%
(7.9%)
(6.1%)
41.8%
(1.3%)
28.6%
(45.4%)
18.4%
(6.1%)
2,785,912
2,904,500
118,588
4.1%
7,208,000
2,790,757
4,845
0.2%
147,780
26,800
120,980
451.4%
62,465
85,315
136.6%
2 of 2
Variance
%
(215,500)