↓ Download PDF ← Back to Library
TABLE OF CONTENTS
COST CENTERS — LINE ITEMS
Page
1995-1996 MID-YEAR BUDGET PERFORMANCE
UNIVERSITY
COLLEGE
NEW ENGLAND
SEATTLE
SOUTHERN CALIFORNIA
THE MCGREGOR SCHOOL
CENTRAL
GLEN HELEN
ANTIOCH REVIEW
WYSO 47 – 48
RECEIVABLES AND PAYABLES REPORT 49
COST CENTERS
INSTRUCTION:
Undergraduate
Heritage Institute
Preparatory-Remedial Education
Arts
Communications
Computer Instruction
Cooperative Education
Environmental Fietd Program
Humanities
Interdisciplinary
International Studies
Languages
Natural Sciences
Physical Education
Social & Behavioral Sciences
AEA Brazil
AEA Buddhist Studies
AEA Egypt
I AEA Germany AEA Japan
AEA Mexico
AEA Overseas Nun-AEA Program
AEA Women’s Studies
MA Management
MA Psychology
MA Education
ORI
Whole System Design
MA Organizational Management
Community Education
Dance/Movernent Therapy
Counseling Psychology
Marriage and Family Therapy
Environmental Studies
Education
Chair/Organization & Management
Chair/ Applied Psychology
Clinical Psychology
O&M/Bennington
O&M/New Haven
O&M/Kccne
INSTRUCTION Cont’d: STUDENT SERVICE Cont’d:
1MA Student Loan Office
Weekend Program
Inkrculuiral Relations INSTITUTIONAL SUPPORT:
Conflict Rcsolulion University President
Summer Seminar Special Account
Trustees
RESEARCH: Provost/Presiden t
Individual and Project President’s Fund
Fiscal Operations
PUBLIC SERVICE: Business Office
Glen Helen General Administr
Outdoor Education Center Central Services
Rap tor Cenler Personnel
Antioch Review Alumni
WYSO Deveiopmenl/Advance
Community Development Public Relations
Publications
ACADEMIC SUPPORT: Administrative Computer Servicr
Academic Administration
Genera! Faculty INSTITUTIONAL SUPPORT Con t’d :
AEA Administration University Miscellaneous
AEA London University Restructuring
Li brary/Media Services Supplemental Retirement
Academic Personnel Development
Course & Curriculum Deveinpmeni PLANT MAINTENANCE:
Psychological Services Ccn ter Maintenance
Research and Evaluation Custodial
Writing Center Building & Grounds
WDS Institute Power Plant
STUDENT SERVICES:
Financial Aid Administration
Siudent Admissions
Registrar (Student Records)
Rcg s y s
Student Services
Advocate’s Ol fice
Infiimary
Court scling
Secuii ty
Maples
SCHOLARSHIPS:
Grams & Scholarships
AUXILIARY ENTERPRISES:
Dining Services
External Events
1 lousing
Boobslore
Compuier Sales
Associate Facultv Taxes
Adjunct Faculty
Administrators
SPECIAL EVENTS:
Graduation INTEREST & BANK CHARGES: –
Administrative Associate Orientation Interest
Unionized Staff Miscellaneous Special Events Bank Charges (include credit card charges)
Non-Unionized Staff
Wage and Salary Adjustment
WorkfS tudy Students on Campus
WorkIStudy Off Campus
Student Wages
Oiher Staff Employees
Student Vouchers
Student Stipends
Overseas Allowance
Work Study
BENEFITS: Required and Non-Required
Benefits Paid
BenefirdCore Faculty
BenefitdAssocia te Faculty
Benefi WAdj unc 1 Faculty
Benefi tdAdministrators
BenefitdAssociate Administrators
Benefitdunionized Staff
BcnefitdNon-Unionized Staff
Retirement Contingencies
Contracted Professional Development
Moving Expenses
Other Staff Benefits
Miscellaneous Benefits
TRAINING & DEVELOPMENT:
Non-Contracted Expenses for Trg & Dev
SUPPLIES: Supplies that arc not Capitalized
Office Supplies
Instructional Supplies
Research Supplies
Duplicating Supplies
Computer Supplies
Maintenance Supplies
Library Supplies
Food Supplies
Miscellaneous Supplies
BUSINESS OPERATIONS COSTS:
General Cost of Doing Business
Subscriptions & Publications
Purchased Services
Information & Communications
Memberships & Dues
Printing
Postage
AudioIVisual
Advertising
Telecommunications
Legal
Audit
PLANT MAINTENANCE COSTS:
Costs Related to Facili tics
RESALE COSTS:
Books for Resale
Cornpu ters for Resale
Supplies for Resale
MISCELLANEOUS COSTS:
Miscellaneous
Student Activities
Studem Insurance
CONTINGENCY/RESERVES:
Campus Contingency
University Contingency
Bad Debts
Uncollcc kd Revenue Reserve
Capital Reserve
OVERHEAD COSTS:
Regional Overhead
Universily Overhead
Innovation Fund
College Fund
Univcrsi ty Rebate
Business Travel MaintenancdContracts & Repairs
Business Miscellaneous Purchased Services
Local Meetings/Workshops Utilities
Employee Recruiting Vehicle Operation
Program Development Facility Rental
ANTIOCH UNIVERSITY 1995-96
December 1995 Budget Comments
NTRODUCTION
The information contained in this report is presented using the new FAS
that became mandatory for independent colleges and universities on July 1, 1995. The objective
of the new reporting standard is to enhance the relevance, clarity, and comparability of financial
statements issued by not-for-profit organizations, regardless of their primary operations or
mission.
Although the Board of Trustees has been given introductory presentations on the new reporting
formats and the changes required by the new standard, the appearance of the schedules used in
this report is quite different from those used in previous reports. For the first time, the mid-
year budget report contains consolidated information about all aspects of the University’s
operations. Previously, Antioch’s budget and reporting focused on cash basis elements of the
operating budget. Elements of importance in an accrual basis system, such as depreciation and
capital expenditures, were not reflected in reports prepared under the previous accounting
standards.
Some time will be needed to become familiar with the new format, but the new reports provide
better and more comprehensive information and offer a better picture of financial operations at
Antioch. Although the FASB formats contain useful information, the change makes it difficult to
compare mid-year performance with the budget. Therefore, most of the schedules contained in
this report display the “traditional unrestricted” approach plus “additional unrestricted” items.
This split of the data is a transitional device that should make comparisons with the budget
easier.
” ”
previous year or for the first half of last year on many of the schedules. Because of the non-
inear nature of university operations, it is generally not useful to attempt to compare the mid-
year figures to half of the prior year amounts or to half of the budgeted amounts. Next year we
will have consistent data and the mid-year report will contain comparable information from the
prior year.
STATEMENT OF FINANCIAL POSITION
The schedule entitled Statement of Financial Position focuses on the entire University. It is
intended to report the total assets, liabilities, and net assets of the University at mid-year’
Financial data for the previous year is presented in the same format.
The Statement of Financial Position reports data for the mid-year and prior year. A comparison
(T> of the two periods shows that for the current year TOTAL ASSETS have declined by $1,627,509
and that TOTAL LIABILITIES have been reduced by $3,724,787, resulting in TOTAL NET ASSETS
that are $2,097,278 greater at December 31 than they were at June 30. The NET ASSETS detail
shows how much of the total assets are Unrestricted, Temporarily Restricted and Permanently
Restricted.
The ASSETS section shows that Cash and Cash Equivalents have dropped from $944,503 on
June 30 to $80,435 at the end of December. This change reflects the cyclical nature of the
tuition billing process and the normal pattern of higher expenditures in the first half of the
fiscal year. At June 30 some of the Fail tuition had been received, but expenditures were low
because the fiscal year was ending. However, at December 31, expenditures have been made in
anticipation of Spring term activity, but collection of Spring term tuition has not occurred. The
second term tuition that has been billed but not collected appears in Accounts Receivable.
Contributions Receivable is primarily pledges that have not been realized. Under FASB,
universities must discount these pledges to recognize that some donors will not fulfill their
obligations. Because the discounting is done only at the end of the year, the Allowance for
Uncollectable has not been changed.
The LIABILITIES section lists Accounts Payable of $630,924. A separate schedule shows the age
of the Accounts Payable obligations,
Accrued Liabilities include payroll taxes and payroll deductions withheld, medical and pension
accruals and enrollment deposits.
Deferred Revenue is primarily second term tuition already collected. The Notes and Bonds
Payable line shows the University’s long-term debt, primarily for facilities.
Annuities Payable is the obligation we have to donors who have pledged property to the
University in exchange for an annuity. This is an increasingly popular way for individuals to
realize some of the equity they have in their property, generate tax savings, and benefit their
u campus,
Deposits Held on Behalf of Others includes the Antioch College Faculty Fund and the GLCA Urban
Term Fund. These items were formerly known as “Agency Funds,”
December 31. 1995
ASSETS
—–
Cash and Cash Equivalents
Accounts Receivable
Less Allowance for Bad Debts
Grants Receivable
Contributions Receivable
Less Allowance for Uncollectible
Prepaid Expenses
Loans To Students
Long Term Investments
Land. Buildings and Equipment
Less Accumulated Depreciation
00 TOTAL ASSETS
LIABILITIES
—+..-.,,
Accounts Payable
Accrued Liabilities
Deferred Revenue
Notes and Bonds Payable
Annuities Payable
Deposits Held on Behalf of Others
Advances from Government for Student Loans
TOTAL LIABILITIES
NET ASSETS
Unrestricted
Temporarily Restricted
Permanently Restricted
TOTAL NET ASSETS
TOTAL LIABILITIES AND NET ASSETS
December 31, 1995 June 30, 1995
—-.,
944,503
3,790,290
-31 0,576
165,900
8,466,169
-846.61 7
870,191
4,867,424
14,500.416
4 1,352,570
-16,201,864
STATEMENT OF ACTIVITIES
The Statement of Activities reports changes in each of the three classifications (Unrestricted,
Temporarily Restricted and Permanently Restricted) for each Net Asset as of December 31. A
detailed presentation of the changes that produced the $2,097,278 increase in total Net Assets is
contained in the following Statement of Cash Flows.
The Unrestricted column of this statement presents the Revenues and Expenses for the University
in the FASB 117 format. However, because the 1995-96 budget was developed using the previous
kind structure, a comparison requires a recasting of the data. This restructuring of the
Unrestricted column (showing a net increase in assets of $2,488,434) is presented in the next
section.
As o? December 31. 1995
Temporarily Permanently
Unrestricted Restricted Restricted Total
—- — ——a- -.—-
Revenues and Gains:
Tuftion and fees 20,124,041 20,124,041
Contnbulions 537,270 1 1 1,745 47,209 696,224
Conirack and other exchange transactions 1,247,431 57,500 1,304,931
Investment income on life income and annuity agreements 59.243 22.799 83,042
Investment income on endowment 103.987 92,920 196,907
Other investmen1 tocorm 127,581 127,581
Net realized winsfloss) on endowment -6,623 -6,623 -13,346
Net realized gains(loss) on alter investments -8,326 3,624 5,374 672
Sales and service of auxiliary enterprises 1,310,780 1,310,780
Olher Income 172,346 172,346
Total revenues and gains 23,608,487 325,032 68,759 24,002,278
I-1 Nel assess released from r~lticti~n~ 71 5,917 -715,917 0
0 Total unrestriciad revenues, gains and other support 24,324,404 -390,885 68,759 24,002,278
Expenses and Lossas’
Educational and General:
Instruction 7,701,336 7,701,336
Research 38,299 38,299
Public Service 645,596 645,596
Academic support 962,363 962.963
Student services 2,600,155 2,600,155
Inslilutional support 5,563,719 5,563,718
Operation and maintenance of plant 1,777,822 1,777,822
Scholarships and fellowships 1,281,765 1,281,765
Total educational and general expanses 20,571,654 0 0 20,571,654
Auxiliary enterprises 1,364,316 1,264,316
Total expenses 21,835,970 0 0 21,835,970
Actuarial (~ain) loss on annuily obligations 0
Payments to life income beneficiaries 45,074 23,956 69,030
Total expenses and Josses 21,835,970 45,074 23,956 21,905,000
Increasefdecrease) in net assets 2,408,434 -435,959 44,B03 2,097,2 78
Net assets at beginning of year 10.51 7.378 8.91 4,932 13,012,586 32,444,896
Net assets al end of period 13,005,612 8,470,973 13,057,389 34,542,174
——– – ———
A – – – a – – – A
– – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – –
STATEMENT OF CASH FLOWS
The midyear Statement of Cash Flows is presented in the FASB recommended format that
indicates the sources and uses of funds in three categories: operating activities, investing
activities and financing activilies.
Many of the larger fluctuations in the section OPEBATING ACTIVITIES are explained by the nature
of Antioch’s biiling cycles. AH of the campuses are on a quarter system except New England!
which operates on semesters. At December 31, New England has billed and booked the revenue for
their summer, fall and spring semesters, while the other campuses have only recorded their
summer and fall quarters. This explains the decrease in Accounts and Grants Receivable and the
decrease in Deferred Revenue from the June 30 position. At June 30 each year Antioch has
significant deferred revenue billed for the fdluwing year- By December 31, that deferred
revenue has been recognized and the receivables are significantly reduced by cdlections because
w the Winter quarter begins the first week in Jarway.
u
There was a decrease in Contributions Receivable in the first half of the year as pledges were
realized. Accounts Payable and Accruals are decreased as year end accruals are paid. In all9
operating activities used $443,204 in cash for the first six months of the 1995-96 year.
FASB considers fixed asset purchases as investmenls, so the significant item in the INVESTING
ACTIVITIES section is the spending of $917,578 as a Purchase of Land, Bu~lding, and Equipment.
Approximately $590,000 of this expenditure is the refurbishing of the College Power Plant,
which was paid for by the new loan recorded in the next section of this schedulev
The Perkins Loan fund has loaned $330,036 to students so far this year while col~ecling
$263,309 on past loans fur a slight use of cash. In total, investing activities used $1,097,038 in
the first half of the year.
The proceeds from the Power Plant ban, offset by $189,178 in principal repayment accounts is
the primary item of actjvity jn Fl NANC ING ACTIVITIES. Financing Activities contributed
$676,174 to cash flow.
In total, this shows us that, white Antioch has an ~ncrease in net assets of $2,097,278 for the
first six months of the year, there has been a $864,068 usage of cash during that period. Because
more that half of the expenses for the year are usually spent by December 31, but not half of the
quatter system campus revenues have been collecled, we expect the second half of the year 10
ease the cash flow with contributions from operating activities.
Statement of Cash Flows
For the Pet~od Ended Decembr 31, 1995
Caah flows from operatkng actlvlties:
Change In net assets
Adju~tmenh to raconclle change In net assets
to net cash provided by [used for) operating activities:
Depreclabori
(lncreese) decrease In accounts and grants rece~vabhe
(Increase) decrease In contibutions rwelvable
{lncreaso) decrease III prepaids
Increase (decreas) in accounts payable and accrued expenses
lncrea~ (decrease) in annuity l~ability
Increase (decrease) in deferred revenues
Contribui~ons restr~cted for long-term ~nvestment
Interest and d~v~dends r6stricted for re~nvestment
Net (gain) loss on sales of investments
w * Cash flows from investing a&tlvitles:
Net Proceeds from Sales and Purchases of Investments
Purchases of land, bu~ld~ng and equipment
Disbursements of loans !o students
Repayments of loans from students
Ca8h flow# from financing act~vlties:
Prcceeds from issuance of indebtedness
Repayments a! pnnc~pal of indebtedness
Rece~pts of interest and dividends restrtcted for rwnvestment
Contr~but~orls received restiicted for long-term ~nvestrn~nt
Receipts from (contribut~ons to) governmental ioan funds
Net cash provlded by {uaed for] financing actlvlties
Net Increase (decrease) in cash and cash equ~valen!~
Cash and cash equivalents at beg~nn~ng of year
Cash and cash ~quivalants at end of per~od
EXPENDITURE SUMMARY BY FUNCTlON
The YTD Additional Unrestricted column contains Revenue and Expense items that were not
included in the Annual Budget- On the Tuition and Fees line, $344,512 was segregated because it
is associated with special programs, Of this total, $295q000 was from the New England “Critical
Skills Programh which provides special training fur regional business on a contraciua
The Gifts line adds $170,870 to recognize a number of gifts-in-kind.
.I basis.
The Grants line addition of $1,129,431 reflects SEOG student loan funds and Federal
Program supper!.
Nork Study
The Released from Restrictions l~ne adds $485,011 which is donot- funds that are being used for
specified purposesm Library acquisitions and the Hughes Science Project are part of this total, as
are scholarships.
w rn
In the OPERATING EXPENSES section, the $241 J64 on the Instruction line is primarily for the
New England “Critical Skills Program+”
The $38,299 shown on the Research line is associated with the Hughes Science Project.
The Public Service line of $135,174 reflects various community act~vities such as the contracts
of New England’s Institute fur Community and Environmental Studies Department. ICEM contracts
with local governments to prepare environmental assessments and other studies. Students
participate and the contracts generate funds 10 cover the costs of their training,
The Institutional Support line of $1,040,628 includes $879,103 of depreciation. Although
depreciation effects assets used for all programsq our inventory records do nut allow us to
associate specific pieces of equipment with their use.
ANTIOCH UNIVERSIIY
EXPENDITURE SUMMARY BY FUNCTION AS OF DECEMBER 31,1995
Variance
from Budget
Total
Unrestricted
—-*-
ANNUAL
WWET
YTD Traditional
Unrestricted
–“”*-
YTD Additional
Unrestricted
——-
Revenues
Tuition and Fees
Less Tuitbn Discounts
GiRs
G ranis
Endowment Income
Contracts
Glher Income
Total E&G Revenue
Auxiliaty Enterprises
Released From Restric?ions
Total Revenues
Operating Expenses
Instruction
Research
Public Service
Academ~c Supporl
Student Setvices
Institutional Support
Plant Maintenance
Scholarships
TotaI E&G Expnses
Auxiliay Entetprises
Total Operating Expenses
Excess Revenue over Expenses 1,030,524
Annual Budget Conversion to Cash Basis
Add Back Decprciation 0
Capital Expenditures 580,74 8
Poww Plant Loan Proceeds 0
Principal Payments 457,776
Total Cash Items 1,038,524
Net Cash Basis Budgot 0
EXPENDITURE SUMMARY BY CATEGORY
This schedule shows the Revenues and Operating Expenses as
as realized in the first half of the fiscal year. Specific Revenues ar
Operating Expenses are displayed by categories of expense.
The columns to the left of the vertical line represent the “traditional” way in which the
University has budgeted and reported its funds. The column to the right of the vertical li
contains those revenue and expense items that were previously budg
These additions are discussed in the section that describes the Expenditure Summary by Function
schedule. To verify the link between this schedule and the previous FASB 117 schedules, note
that the total Excess Revenue over Expenses line shows a total of $2,488,434 which agrees with
the unrestricted Increase in Net Assets line of the Statement of Activities schedule.
The Excess Revenue over Expenses line of the Annual Budget shows $1,038,524 but the budget
f-t
‘Â¥ approved by the Board on the prior basis showed no surplus. To bring the Annual Budget into
balance, Capital Expenditures ($580,748) and Principal Payments ($457,776) need to be
considered. When these items are reflected, the Net Cash Basis Budget is zero.
EXPENDITURE SUMMARY BY CATEGORY AS OF DECEMBER 31,1995
Revenues
Operating Expenses
Salaries and Wages
Benefits
Training and Development
Student Aid Services
Special Events
Supplies
Business Operations
Plant Maintenance
Interest Expense
Resale Costs
Miscellaneous
Contingency/Reserves
Campus Contigency, Mandatory
+ Campus Contingency, Discretionary
Bad Debt Reserve
Uncollected Revenue Reserve
Capital Reserve
Discretionary Reserves
Overhead
To the University
Rebates from the University
Subsidy from Adult Campuses
Subsidy from Overhead
Other
Total Operating Expenses
Excess Revenue over Expenses
ANNUAL YTD Traditional Variance
BUDGET
Annual Budget Conversion to Cash Basis
Add Back Decprciation 0
Capital Expenditures 580,748
Power Plant Loan Proceeds 0
Principal Payments 457,776
Total Cash Items 1,030,524
Net Cash Basis Budget 0
Unrestricted from Budget
YTD Additional
Unrestricted
2,272,621
Total
Unrestricted
—–”
24,324,404
OBSERVATIONS
The financial condition of the University at mid-year should be
Cash flow is acceptable and the campuses are managing their
budgets. However, there are two areas that require monitoring during the seco
fiscal year.
Enrollment at some campuses has not met projections and if Spring term enrollments decline
further, more stringent limits on spending will be required. The College had first half
expenditures that were within budget, but above the actual revenue. (See the statement
preceding the College schedules.)
A second area that will be monitored is the ievet of non-capital expenditures. Not only must
expenditures stay within the budgeted revenue, they must also be managed in a way that allows
the University to improve our equity ratio. Our equity position will be an important factor in
)-*
CD determining the availability and cost of the money needed to acquire new buildings.
A third area of potential concern is the decline in giving, as reflected on the Statement of
Financial Position. On that schedule, Contributions Receivable have declined by $382,049 since
June 30. Discussions with the College indicate that this decline is an artifact of delayed
reporting.
Glenn Watts, Vice Chancellor
<<- *---*"""". A . -,
ANTIOCH COLLEGE 1995-1996
December 1995 Budget Comments
REVENUES
The 1995-1996 December Actual Revenue reflects recorded revenues of 42.18% of the annual budget for 568
annualized FTE. This percentage is appropriate for College revenues received for Fall Quarter. The balance of
budgeted to actual revenues, related to Tuition and Fees will be recorded during Winter and Spring Quarters.
Since October, the College has been operating with a contingency budget based on revenues for 525 annualized
FTE with corresponding reduced budgeted expenses. Fall enrollment was budgeted for 431 students on
campus and actual student enrollment was 427. Revenue categories including Gifts, Grants, Endowment
Income, and Auxiliary Enterprises are performing within budgeted expectations.
EXPENSES
M The performance of expense categories reflects an actual six month spending rate of 50.63% of the 568 FTE
budget compared to a spending rate of 52.350h of the 525 FTE contingency budget. This unfavorable variance
is directly related to compensation costs which are within budget but which reflect 50% of annual costs
compared to 43% of annual revenues. The contingency budget of 525 FTE indicates a budgeted deficit for ail
expense categories of ($1,073,499) compared to the actual expense deficit of ($1,041,210) through December
1995. This reflects a better-than-budgeted performance of $32,289 through December 31, 1995 for the
contingency 525 FTE budget. Areas of concern for the College include expenses exceeding budget for
telephone, postage, and duplicating operations and the College will continue efforts to reduce the spending
rate for these expenses. The Resale Costs expense category currently exceeds budget but these costs are
only incurred as a result of bookstore orders which favorably increase the Auxiliary Enterprise revenue line.
This over expenditure is entirely off set by year end with additional revenues.
In light of current enrollment projections, the College is currently considering additional options for expense
reductions in order to maintain a balanced budget performance for 1995-1 996. Projected enrollment
revenues for Winter and Spring Quarters are critical to the success of this effort along with the continuation
of conservative spending practices.
James Crowfoot, President
ANTIOCH COLLEGE
EXPENDITURE SUMMARY BY FUNCTION AS OF DECEMBER 31.1995
Revenues
Tuition and Fees
Less Tuition Discounts
Gifts
Grants
Endowment Income
Contracts
Other Income
Total E&G Revenue
Auxiliary Enterprises
Released From Restrictions
Total Revenues
M Operating Expenses
Instruction
Research
Public Service
Academic Support
Student Services
institutional Support
Plant Maintenance
Scholarships
Total E&G Expenses
Auxiliary Enterprises
Total Operating Expenses
Excess Revenue over Expenses
ANNUAL YTD Traditional
BUDGET
Annual Budget Conversion to Cash Basis
Capital Expenditures 183,405
Power Plant Loan Proceeds 0
Principal Payments 284,606
Total Cash Items 468,Ol 1
Unrestricted
-*--"
4,706,071
1,078,435
232,46 1
-423
80,596
0
38,400
3,978,670
1,117,429
100,906
5,197,005
Variance
from Budget
------
Net Cash Basis Budaet 0
ANTIOCH COLLEGE
EXPENDITURE SUMMARY BY CATEGORY AS OF DECEMBER 31,1995
Revenues
Operating Expenses
Salaries and Wages
Benefits
Training and Development
Student Aid Services
Special Events
Supplies
Business Operations
Plant Maintenance
Interest Expense
Resale Costs
Miscellaneous
Contingency/Reserves
Campus Contigency , Mandatory M
Campus Contingency, Discretionary
Bad Debt Reserve
Uncollected Revenue Reserve
Capital Reserve
Discretionary Reserves
Overhead
To the University
Rebates from the University
Subsidy from Adult Campuses
Subsidy from Overhead
Other
Total Operating Expenses
Excess Revenue over Expenses
ANNUAL YTD Traditional Variance
BUDGET Unrestricted from Budget
Annual Budget Conversion to Cash Basis
Capital Expenditures 183,405
Power Plant Loan Proceeds 0
Principal Payments 284,606
Total Cash Items 468,Ol 1
Net Cash Basis Budget 0
YTD Additional
Unrestricted
------
1,069.1 85
Total
Unrestricted
ANTIOCH NEW ENGLAND GRADUATE SCHOOL 1 995-96
December 1995 Budget Comments
Despite the fact that new and special student registration for the spring semester 1996 was not fully
completed by the date this report was submitted (1 /I 6/96), and we will not know final attrition
figures until the end of February, we have enough information to present a reasonably accurate picture
of the present and where we expect to finish budgetarily on June 30, 1 996.
We are delighted to report a rather substantial increase in new student enrollment for 1995-96
countering the enrollment "stall" we experienced in 1 994-9 5 and exceeding a 1 99 5-96 projection of
384 new matriculated students by 30+ students, an increase of approximately 8% above projection.
Our best current estimates indicate that the annual attrition rate will only slightly exceed a budgeted
figure of 8%. While we know that there have been expenditure increases for instruction (more courses
to more students, etc.), computer hardware and software upgrades, geodemographic study, part-time
help, marketing, and expenses related to winter's havoc (heating, snowplowing, etc.), we expect to end
-(a.
FY 1995-96 with a surplus of revenue over expense in excess of $200,000. These expenditures will
explain most variances.
This anticipated fiscal success will enable Antioch New England to fully comply with the New
Hampshire bond ratio (1.1 in 1995-96) and assist in a significant way compliance by the Obligated
Group - full University - to meet its 1.1 5 ratio. It is, of course, our hope that the year end surplus will
become funded carry forward reserve dollars as a means of rewarding in a tangible way prudent
management and success.
I will be happy to discuss the budget in Seattle.
Jim Craiglow, Provost
ANTIOCH NEW ENGLAND GRADUATE SCHOOL
Revenues
Tuition and Fees
Less Tuition Discounts
Gifts
Grants
Endowment Income
Contracts
Other Income
Total E&G Revenue
Auxiliary Enterprises
Released From Restrictions
Total Revenues
EXPENDITURE SUMMARY FUNCTION
ANNUAL YTD Traditional Variance
DECEMBER 31,1995
BUDGET
M Operating Expenses
U1
Instruction
Research
Public Service
Academic Support
Student Services
Institutional Support
Plant Maintenance
Scholarships
Total E&G Expenses
Auxiliary Enterprises
Total Operating Expenses
Excess Revenue over Expenses
Annual Budget Conversion to Cash Basis
Capital Expenditures 109,758
Principal Payments 60,000
Total Cash Items 169,758
Unrestricted
-------
7,434,932
-46,740
0
21,961
0
750
15,663
7,426,566
0
0
7,426,566
from Budget
------
262,718
1,260
-25,000
-53,039
0
-29,250
-121 ,I 79
-489,926
0
0
-489,926
YTD Additional
Unrestricted
ANTIOCH NEW ENGLAND GRADUATE SCHOOL
EXPENDITURE SUMMARY BY CATEGORY AS OF DECEMBER 31,1995
Revenues
Operating Expenses
Salaries and Wages
Benefits
Training and Development
Student Aid Services
Special Events
Supplies
Business Operations
Plant Maintenance
Interest Expense
Resale Costs
Miscellaneous
0) Contingency/Reserves
Campus Contigency, Mandatory
Campus Contingency, Discretionary
Bad Debt Reserve
Uncollected Revenue Reserve
Capital Reserve
Discretionary Reserves
Overhead
To the University
Rebates from the University
Subsidy from Adult Campuses
Subsidy from Overhead
Other
Total Operating Expenses
Excess Revenue over Expenses
ANNUAL YTD Traditional Variance
BUDGET Unrestricted from Budget
--me-- ---"-* ------
7,916,492 7,426,566 -489,926
Annual Budget Conversion to Cash Basis
Capital Expenditures 109,758 70,206 39,552
Principal Payments 60,000 30,417 29,583
Total Cash Items 169,758 100,623 69,135
Net Cash Basis Budget 0 3,510,608 3,510,608
YTD Additional Total
Unrestricted Unrestricted
-=----- ----*a
620,03 1 8,046,597
ANTIOCH SEATTLE 1995-96
December 1995 Budget Comments
At the October Board Meeting, Seattle reported reduced enrollment from our budgeted projection. At
that time we were anticipating a shortfall of up to 46 FTE from our original projection of 636 unless some
midyear recovery could be achieved. A plan was presented that outlined budget cuts that would balance the
budget at 590 annualized FTE.
Winter Quarter enrollment has exceeded the revised projections by about 14 students and our spending
restrictions seem to be hoiding. It now looks like we will end the year near 595 annualized FTE and even
with some unexpected expenditures, will be able to balance our budget.
The budget summaries as of December 31 indicate that our spending has exceeded revenues by
$210,365. However, the December statement does not include registration receipts for Winter Quarter. We
have half a year of spending and only about three eighths of the year's revenue. (Summer enrollment is only
about half of the other three terms).
Our spending to date is going along as anticipated with a few exceptions. Tuition remission for
employees is running very high compared to budget. We initiated some restrictions during Fall Quarter
limiting the number of credits employees could register for during Winter and Spring Quarters, which will
help, but we still anticipate this item to run well over budget. Auxiliary Enterprise revenues are down, but
so is spending. This item should balance itself out. Note that while the grants, contracts and scholarships
appear high, this was an area that was not previously budgeted in our unrestricted/designated budget, but
with accounting changes, we are now seeing the revenue and spending in summary.
Gail Martin, Interim Provost
ANTiOCH SEATTLE
BY FUNCTION AS OF DECEMBER 31,1995 EXPENDITURE SUMMARY
ANNUAL
BUDGET
YTD Traditional
Unrestricted
----*-
Variance
from Budget
--"---
Revenues
Tuition and Fees
Less Tuition Discounts
Gifts
Grants
Endowment Income
Contracts
Other Income
Total E&G Revenue
Auxiliary Enterprises
Released From Restrictions
Total Revenues
M
CO
Operating Expenses
Instruction
Research
Public Service
Academic Support
Student Services
nstitutional Support
Plant Maintenance
Scholarships
Total E&G Expenses
Auxiliary Enterprises
Total Operating Expenses
Excess Revenue over Expenses 27,270
Annual Budget Conversion to Cash Basis
Capital Expenditures 27,270
Principal Payments 0
Total Cash Items 27,270
Net Cash Basis Budge
Revenues
Operating Expenses
Salaries and Wages
Benefits
Training and Development
Student Aid Services
Special Events
Supplies
Business Operations
Plant Maintenance
Interest Expense
Resale Costs
Miscellaneous
Contingency/Reserves
Campus Contigency, Mandatory
Campus Contingency, Discretionary
Bad Debt Reserve
Uncollected Revenue Reserve
Capital Reserve
Discretionary Reserves
Overhead
To the University
Rebates from the University
Subsidy from Adult Campuses
Subsidy from Overhead
Other
Total Operating Expenses
ANTIOCH SEATTLE
EXPENDITURE SUMMARY BY CATEGORY AS OF DECEMBER 31,1995
ANNUAL YTD Traditional Variance
BUDGET Unrestricted from Budget
Excess Revenue over Expenses 27,270
Annual Budget Conversion to Cash Basis
Capital Expenditures 27,270
Principal Payments 0
Total Cash Items 27,270
Net Cash Basis Budget 0
YTD Additional
Unrestricted
Total
Unrestricted
ANTIOCH SOUTHERN CALIFORNIA 1995-1 996
December 1995 BUDGET COMMENTS
REVENUE
As of December 31, 1995, ,Southern California revenues are very near projections with the Los ~ngeles
campus on target and the Santa Barbara campus just slightly below projections--15 FTE below
projections. However, for the Winter and Spring 1996 Quarters, we anticipate that Los Angeles will be
50 to 60 FTE below projections, and Santa Barbara will exceed projections by 8 to 10 FTE. The
regional shortfall may be met solely with reserves, or some combination of reserves and salary
savings.
u EXPENDITURES
M
On the expenditure side, Southern California has spent slightiy less than 50% of its operating budget as
of December 1995. The only expense category significantly over the 50% expense benchmark is
advertising. We typically spend 70% to 75% of our advertising budget in the first half of the year, WPM
off during the Winter quarter, and increase spending again in Spring quarter. All other expense
categories are on target.
Dale Johnston, Provost
Revenues
Tuition and Fees
Less Tuition Discounts
Gifts
Grants
Endowment Income
Contracts
Other Income
Total E&G Revenue
Auxiliary Enterprises
Released From Restrictions
Total Revenues
Operating Expenses
Instruction
Research
Public Service
Academic Support
Student Services
Institutional Support
Plant Maintenance
Scholarships
Total E&G Expenses
Auxiliary Enterprises
Total Operating Expenses
Excess Revenue over Expenses
EXPENDITURE
ANTOCH SOUTHERN CALIFORNIA
SUMMARY
Annual Budget Conversion to Cash Basis
Capital Expenditures 14,100
Principal Payments 0
Total Cash items 14,100
FUNCTION
YTD Traditional
Unrestricted
Variance
from Budget
------*
DECEMBER 31,1995
YTD Addi
Unrestricted
EXPENDITURE SUMMARY BY CATEGORY AS OF DECEMBER 31,1995
Revenues
Operating Expenses
Salaries and Wages
Benefits
Training and Development
Student Aid Services
Special Events
Supplies
Business Operations
Plant Maintenance
Interest Expense
Resale Costs
Miscellaneous
'p>> ContingencytReserves
Campus Contigency, Mandatory
Campus Contingency, Discretionary
Bad Debt Reserve
Uncollected Revenue Reserve
Capital Reserve
Discretionary Reserves
Overhead
To the University
Rebates from the University
Subsidy from Adutt Campuses
Subsidy from Overhead
Other
Total Operating Expenses
Excess Revenue over Expenses
Annual Budget Conversion to Cash Basis
Capital Expenditures 14,100
Principal Payments 0
Total Cash Items 14,100
Net Cash Basis Budget 0
ANNUAL YTD Traditional Variance
BUDGET Unrestricted from Budget
YTD Additional Total
Unrestricted Unrestricted
1 The McGregor School of Antioch University 1995-96 1 December 1995 Budget Comments
Financial and Enrollment Information
Summer Term 1995. Our graduate programs had a slight over-enrollment while our undergraduate Weekend College
had a slight under-enrollment. Collectively, the School met its revenue goals. Fall Term 1 995. A1 though we met our
enrollment goals at the beginning of the quarter, we had more attrition and more students graduating (IMA programs) prior to
the term’s end than we anticipated. Overall this resulted in slightly reduced revenues compared to projections. This has been
offset by minimally reduced expenditures. Winter Term 1996. It is too early to know final numbers for all programs at this
time. However, upon completion of the first week of classes (January, 19961, the Weekend College undergraduate program
slightly surpassed its goals for new students, as did the Graduate Management program. The Conflict Resolution program met
its goals. Con~racts. We have not yet received payment from lhc George Memy Cenker for the first half of the fiscal year and
therefore it is not yet reflected in the revenue figures.
It is important to note that although we have received less than half of the projected revenue for the year, we always
collect more revenue the second half because our Graduate Management program does noi have students enrolled summer
term. Overall, our enrollment and financial performance is on target, but we continue to monitor both enrollments and attrition
u so that we can make up any deficits in revenue with reduced expenditures. en
We have been monitoring our expenditures by category and function and overall our performance is good. I want to
bring to your attention that the Capital Expenditures reflect the first payment of the renovation of Fels’ second floor offices.
Genera! Information
We are actively recruiting the first class of students for our Environment and Community program that will begin April,
1996. We have also had greater numbers of student inquiries for our Interculiural Relations program and under new leadership
we are encouraged that we can meet that program’s enrollment projections.
At the fall Board meeting, McGregor and the College were directed to explore the utili~ation by McGregor of the
College “New Units” dorms for Conference Center rooming facilities (instead of building a new dormitory). We have
successfully completed negotiations with the College and the first group of Conflict Resolution students began residence in
these units January 8, 1996.
We also began the architectural planning and review needed to convert the center back wing of the Fels building into
meeting rooms for the MeGregor Conference Center. The renovation will create one large meeting room, several break-out
rooms, library stacks, and a catering kitchen, We will make both the Fels building and the Conference Center handicapped
accessible.
Sandra I. Cheldelin, Interim Provost
THE MCGREGOR SCHOOL OF ANTiOCH
Revenues
Tuition and Fees
Less Tuition Discounts
Gifts
Grants
Endowment Income
Contracts
Other Income
Total E&G Revenue
Auxiliary Enterprises
Released From Restrictions
Total Revenues
EXPENDITURE
u w Operating Expenses
Instruction
Research
Public Service
Academic Support
Student Services
Institutional Support
Plant Maintenance
Scholarships
Total E&G Expenses
Auxi tiary Enterprises
Total Operating Expenses
ANNUAL YTD Traditional
BUDGET
Excess Revenue over Expenses 99,500
Annual Budget Conversion to Cash Basis
Capital Expenditures 99,500
Principal Payments 0
Total Cash items 99,500
Unrestricted
—*”-
2,124,314
-66,053
0
0
SUMMARY BY FUNCTION AS OF DECEMBER 31,1995
YTD Additi
Unrestricted
Variance
from Budget
OR SCHOOL OF ANTIOCH
EXPENDITURE SUMMARY BY CATEGORY AS OF DECEMBER 31,1995
ANNUAL YTD Traditional Variance YTD Additional Total
BUDGET Unrestricted from Budget Unrestricted Unrestricted
–“”– —— —— —he-
Revenues 4,763,561 2,058,812 -2,704,749 69,875 2,128,687
Operating Expenses
Salaries and Wages
Benefits
Training and Development
Student Aid Services
Special Events
Supplies
1 Business Operations
I
Plant Maintenance
I Interest Expense
I Resale Costs
1 Miscellaneous
, ,,, Contingency/Reserves
m Campus Contigency, Mandatory
Campus Contingency, Discretionary
Bad Debt Reserve
Uncollected Revenue Reserve
Capital Reserve
Discretionary Reserves
Overhead
To the University
Rebates from the University
Subsidy from Adult Campuses
Subsidy from Overhead
Other
Total Operating Expenses
Excess Revenue over Expanses 99,500 8,334 -91,166 12,257 20,591
Annual Budget Conversion to Cash Basis
Capital Expenditures 99,500 64,666 34,834 2,679 67,345
Principal Payments 0 0 0 0 0
Total Cash Items 99,500 64,666 34,834 2,679 67,345
Net Cash Basis Budget 0 -56,332 -56,332 9,578 -46,754
ANTIUCH UNIVERSITY CENTRAL ADMINISTRATION
EXPENDITURE SUMMARY BY FUNCTION AS OF DECEMBER 31.1995
Revenues
Tuition and Fees
Less Tuition Discounts
Gifts
Grants
Endowment Income
Contracts
Other Income
Total E&G Revenue
Auxiliary Enterprises
Released From Restrictions
Total Revenues
w
CD Operating Expenses
Instruction
Research
Public Service
Academic Support
Student Services
Institutional Support
Plant Maintenance
Scholarships
Total E&G Expenses
Auxiliary Enterprises
Total Operating Expenses
Excess Revenue over Expenses 253,970
Annual Budget Conversion to Cash Basis
Capital Expenditures 140,800
Principal Payments 113,170
Total Cash Items 253,970
Net Cash Basis Budge
YTD Traditional
Unrestricted
–*–*
Variance
from Budget
——
Revenues
Operating Expenses
Salaries and Wages
Benefits
Training and Development
Student Aid Services
Special Events
Supplies
Business Operations
Plant Maintenance
Interest Expense
Resale Costs
Miscellaneous
Contingency/Reserves
Campus Contigency, Mandatory
Campus Contingency, Discretionary
Bad Debt Reserve
Uncollected Revenue Reserve
Capital Reserve
Discretionary Reserves
Overhead
To the University
ANTIOCH UNIVERSITY CENTRAL ADMINISTRATION
EXPENDITURE SUMMARY BY CATEGORY AS OF DECEMBER 31,1995
ANNUAL YTD Traditional Variance
BUDGET Unrestricted from Budget
—— -*—*
424,180 239,531 -1 84,649
Rebates from the University 1,500,000 675.000
Subsidy from Adult Campuses 0 0
Subsidy from Overhead 525,000 262,500
Other 67,080 33,587
Total Operating Expenses 170,210 8,188
Excess Revenue over Expenses 253,970 231,343
Annual Budget Conversion to Cash Basis
Capital Expenditures 140,800 123,435
Principal Payments 113,170 68.748
Total Cash Items 253,970 192,183
Net Cash Basis Budget 0 39,160
YTD Additional
Unrestricted
Total
Unrestricted
GLEN HELEN 1995-96
December 1995 udget Comments
Revenues
As of December 31, 1995, Glen Helen has achieved 35% of budgeted revenues on the bottom line ($226,444 of $649,284). The following
table illustrates revenue performance as of Dec. 31.
– Tuition and Fees: 49% collected
– – Gifts: 10% collected
– – Grants: 0%
– – Endowment Income: 50%
– – Contracts: 62%
– – Other Income: 67%
– – Auxiliary Enterprises: 48%
According to budget plan, by December 31 Glen Helen is expected to have achieved 48% of revenues. Performance is running slightly ahead
on Contracts and Other Income; on plan with Tuition and Fees, Endowment, and Auxiliary Enterprises; and behind on Gifts. By December 31, ^ Glen Helen expected to have collected 43% of budgeted revenues on Gifts (performance is 10% of budget). This is the area on the revenue
side in Glen Helen of largest impact on the budget performance. The negative variance on gifts is due to the timing and therefore cash flow of
a major, unrestricted gift which is still being negotiated.
Expenses
1995-96 expenses were built on the expectation of major unrestricted gifts. According to plan, by December 31 Glen Helen expected to
have disbursed 49% of budgeted expenses on the bottom line ($319,768 of $649,284). Performance shows that Glen Helen has disbursed
40% of budgeted expenses ($262,307 of $649,284). New personnel were budgeted, but were not authorized until fundraising
accomplished procurement of gifts to offset and implement them. Salaries and Benefits are running behind budgeted amounts in order to
reflect the slower gift activity. In addition, however, other cost-saving measures were instituted in order to keep expected year-end
expenses in line with revenues. Consequently, Business Operations and Plant Maintenance are running behind budgeted amounts. Supplies
expenses are running ahead of budgeted amounts due to increases in food prices and to bulk supply ordering in advance of budget in order to
take advantage of sale prices.
Rick Flood, Executive Director
EXPENDITURE SUMMARY
GLEN HELEN
BY FUNCTION
ANNUAL YTD Traditional Variance
BUDGET
Revenues
Tuition and Fees
Less Tuition Discounts
Gifts
Grants
Endowment Income
Contracts
Other Income
Total E&G Revenue
Auxiliary Enterprises
Released From Restrictions
Total Revenues
^
Operating Expenses
Instruction
Research
Public Service
Academic Support
Student Services
Institutional Support
Plant Maintenance
Scholarships
Total E&G Expenses
Auxiliary Enterprises
Total Operating Expenses
Excess Revenue over Expenses 5,915
Annual Budget Conversion to Cash Basis
Capital Expenditures 5,915
Principal Payments 0
Total Cash Items 5,915
Unrestricted
-*—-
55,803
0
21,894
0
2 1,000
4,9 4 5
700
104,342
122,102
0
226,444
from Budget
-*-=–
-58,711
0
-202,356
-7,000
-2 1,000
-3,080
-350
-292,497
-1 30,343
0
-422,840
DECEMBER 31,1995
YTD Additional
Unrestricted
——
0
0
0
0
GLEN HELEN
EXPENDITURE SUMMARY BY CATEGORY AS OF DECEMBER 31.1995
ANNUAL YTD Traditional Variance
BUDGET Unrestricted from Budget
Revenues
Operating Expenses
Salaries and Wages 357,135
Benefits ‘ 111,972
Training and Development 3,370
Student Aid Services 0
Special Events 0
Supplies 45,930
Business Operations 16,295
Plant Maintenance 86,350
Interest Expense 100
Resale Costs 6,200
Miscellaneous 1,517
Â¥P Contingency/Reserves
Campus Contigency, Mandatory 0
Campus Contingency, Discretionary 0
Bad Debt Reserve 0
Uncollected Revenue Reserve 0
Capital Reserve 0
Discretionary Reserves 14,500
Overhead
To the University 0
Rebates from the University 0
Subsidy from Adult Campuses 0
Subsidy from Overhead 0
Other 0
Total Operating Expenses 643,369
Excess Revenue over Expenses 5,915
Annual Budget Conversion to Cash Basis
Capital Expenditures 5,915
Principal Payments 0
Total Cash Items 5,915
Net Cash Basis Budget
YTD Additional Total
Unrestricted Unrestricted
GLEN HELEN
EXPENDITURE SUMMARY BY CATEGORY AS OF DECEMBER 31,1995
Revenues
Operating Expenses
Salaries and Wages
Benefits
Training and Development
Student Aid Services
Special Events
Supplies
Business Operations
Piant Maintenance
Interest Expense
Resale Costs
Miscellaneous
Contingency/Reserves
Campus Contigency, Mandatory
Campus Contingency, Discretionary
Bad Debt Reserve
Uncollected Revenue Reserve
Capital Reserve
Discretionary Reserves
Overhead
To the University
Rebates from the University
Subsidy from Adult Campuses
Subsidy from Overhead
Other
Total Operating Expenses
Excess Revenue over Expenses
ANNUAL
BUDGET
Annual Budget Conversion to Cash Basis
Capital Expenditures 5,915
Principal Payments 0
Total Cash Items 5,915
Net Cash Basis Budget 0
YTD Traditional Variance
Unrestricted from Budget
YTD Additional
Unrestricted
Total
Unrestricted
Revenues
Tuition and Fees
Less Tuition Discounts
Gifts
Grants
Endowment I ncorne
Contracts
Other Income
Total E&G Revenue
Auxiliary Enterprises
Released From Restrictions
Total Revenues
Operating Expenses
Instruction
Research
Public Service
Academic Support
Student Services
Institutional Support
Plant Maintenance
Scholarships
Total E&G Expenses
Auxiliary Enterprises
Total Operating Expenses
ANTIOCH REVIEW
EXPENDITURE SUMMARY BY FUNCTION AS OF DECEMBER 31,1995
ANNUAL YTD Traditional
Excess Revenue over Expenses 0
Annual Budget Conversion to Cash Basis
Capital Expenditures 0
Principal Payments 0
Total Cash Items 0
Variance
from Budget
—-*
YTD Additional
Unrestricted
——-
ANTIOCH REVIEW
EXPENDITURE SUMMARY BY CATEGORY AS OF DECEMBER 31,1995
Revenues
Operating Expenses
Salaries and Wages
Benefits
Training and Development
Student Aid Services
Special Events
Supplies
Business Operations
Plant Maintenance
Interest Expense
Resale Costs
Miscellaneous
$, Contingency/Reserves
Campus Contigency, Mandatory
Campus Contingency, Discretionary
Bad Debt Reserve
Uncollected Revenue Reserve
Capital Reserve
Discretionary Reserves
Overhead
To the University
Rebates from ihe University
Subsidy from Aduh Campuses
Subsidy from Overhead
Other
Total Operating Expenses
ANNUAL
BUDGET
—*–
Excess Revenue over Expenses 0
Annual Budget Conversion to Cash Basis
Capital Expenditures 0
Principal Payments 0
Total Cash Items 0
Net Cash Basis Budget 0
YTD Traditional
Unrestricted
—*–
40,416
Variance
from Budget
-47,334
YTD Additional
Unrestricted
——
0
Tot a l
Unrestricted
——-
40.41 6
. .
EXPENDITURE SUMMARY BY FUNCTION AS OF DECEMBER 31,1995
Unrestricted
ANNUAL
BUDGET
YTD Traditional
Unrestricted
Variance
from Budget
Revenues
Tuition and Fees
Less Tuition Discounts
Gifts
Grants
Endowment Income
Contracts
Other income
Total E&G Revenue
Auxiliary Enterprises
Released From Restrictions
Total Revenues
Operating Expenses
Instruction
Research
Public Service
Academic Support
Student Services
Institutional Support
Plant Maintenance
Scholarships
Total E&G Expenses
Auxiliary Enterprises
Total Operating Expenses
Excess Revenue over Expenses 0
Annual Budget Conversion to Cash Basis
Capital Expenditures 0
Principal Payments 0
Total Cash Items 0
Net Cash Basis Budget 0
Revenues
Operating Expenses
WYSO
EXPENDITURE SUMMARY BY CATEGORY AS OF DECEMBER 31,1995
ANNUAL
BUDGET
276,537
Salaries and Wages
Benefits
Training and Development
Student Aid Services
Special Events
Supplies
Business Operations
Plant Maintenance
Interest Expense
Resale Costs
Miscellaneous
Contingency/Reserves
Campus Contigency, Mandatory
Campus Contingency, Discretionary
Bad Debt Reserve
Uncollected Revenue Reserve
Capital Reserve
Discretionary Reserves
Overhead
To the University
Rebates from the University
Subsidy from Adult Campuses
Subsidy from Overhead
Other
Total Operating Expenses 276,537
Excess Revenue over Expenses 0
Annual Budget Conversion to Cash Basis
Capital Expenditures 0
Principal Payments 0
Total Cash Items 0
Net Cash Basis Budget 0
YTD Traditional Variance
Unrestricted from Budget
*–*.– —-*-
151,716 -124,821
YTD Additional
Unrestricted
-“”-*-
17,211
Total
Unrestricted
—-*–
168,927
A S RECEIVABLE COLLECTIONS REPORT AS OF DECEMBER 31,1995
PERCENTAGE GE UNIT/
STUDY PERIOD
AMOUNT
COLLECTED
AMOUNT
OUTSTANDING
AMOUNT
BILLED COLLECTED COLLECTED
12/31 I95 12/31 /94
WlMTR
SPRING
Total Seattle
NEW ENGLAND
SUMMER
FALL
SPRING
Total N.E.
MCGREGOR
SUMMER
FALL
W1MTER
SPRING
Total McG
TOTAL UNIV
ACCOUNTS PAYABLE AGING REPORT AS OF JANUARY 10,1996
% of Total
65.86%
28.65%
0.81 %
4.69%
Current (0-30) 642.902.89
31-60 Days 279,636.26
61-90 Days 7,895.07
Over 90 Days 45,755 ’94
