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~TIOCH UNIVERSITY
REPORT TO THE
BOARD OF TRUSTEES
1996 – 97 Mid-Year Budget Performance
February 6-8, 1997
1996-1997 Mid-Year Budget Performance
Table of Contents
Page
Total University
College
New England
Seattle
Southern California
The
McGregor
School
Central Administration
Glen Helen
Antioch Review
WYSO
University Wide Expenses
Receivable and Payables Report’
Cost Centers — Line Items
1996-97 MID-YEAR BUDGET PERFORMANCE
INTRODUCTION
The information contained in this report is presented using the Federal Accounting Standards Board (FASB) 11 7
reporting standard that became mandatory for independent colleges and universities on July 1, 1995. The objective of
the FASB 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.
The purpose of the Mid-Year Budget Report is to present consolidated information about all aspects of the University’s
operations. Previously,
Antioch’s
budget and reporting depended on fund accounting and 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 previous reports.
Although the FASB formats present useful information, during the transition it was difficult to compare current activity
with prior periods. Therefore, most of the schedules displayed the “traditional unrestricted” approach plus the
‘additional unrestricted” items added under FASB. This split of the data made it easier to compare financial information
in an historical context.
The 1996-97 budget was developed using the FASB standard and we have consistently prepared data for the Mid-Year
Report. Therefore, this report is able to consolidate the “traditional unrestricted” and the “additional unrestricted” items
and present them in a single column of numbers for each of the reporting periods. That is, each column in this report
(e.g.,
1996197 YTD Budget) contains both “traditional unrestricted” and the “additional unrestricted” amounts.
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 shows that for the current year TOTAL ASSETS have increased by $5,203,371 and
that TOTAL LIABILITIES have remained nearly steady, increasing by just $85,241, 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 $1,064,418 on June 30
to
$266,011
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 fall 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 most second term tuition has not occurred. The second term
tuition that has been billed but not collected appears in Accounts Receivable. The Allowance for Bad Debts has
increased by $127,723 because the campuses accumulate their Bad Debt Reserves and write off bad debts over the
course of the year.
Contributions Receivables 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 $508,247. A separate schedule shows the age of the obligations
currently outstanding.
Accrued Liabilities include payroll taxes and payroll deductions withheld, medical and pension accruals and enrollment
deposits.
Deferred Revenue is primarily tuition already collected for terms that begin after the reporting end date. The Notes and
Bonds Payable line shows the University’s long-term debt. This is primarily for facilities, and the increase between June
30 and December 31 is due to the addition of the Seattle bond issue.
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 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” under the previous accounting standard.
Ç
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
TOTAL ASSETS
LIABILITIES
——.-
Accounts Payable
Accrued Benefit Liabilities
Other 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
ANTIOCH
UNIVERSITY
Statement of Financial Position
December 31, 1996
December 31, 1996
—–
226,011
5,970,765
-304,484
55,032
8,999,131
-945,256
644,150
4,830,088
18,905,216
48,763,769
-1 9,003,094
June 30, 1996
—–
1,064,418
6,427,663
-1 76,761
182,273
9,452,561
-945.256
1 .I 57,267
4,800,707
15,571,667
43,426,793
-1 8,023,375
STATEMENT OF CASH FLOWS
The mid-year 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 activities.
Many of the larger fluctuations in the section OPERATING ACTIVITIES are explained by the nature of
Antioch’s
billing
cycles. Three of the campuses are on a quarter system while New England and the College operate 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 terms. 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 following year. By December 31, that deferred revenue has been recognized
and the receivables are significantly reduced by collections because the Winter terms begin early in the new calendar
year.
There is a decrease of $453,430 in Contributions Receivable in the first half of the year as pledges that were building at
June 30 are realized. Accounts Payable and Accruals are decreased as year end accruals are paid. In all, operating
activities provided $385,476 in cash for the first six months of the 1996197 year.
FASB considers fixed asset purchases as investments, so the significant item in the section INVESTING ACTIVITIES is
the spending of $5,336,976 as a Purchase of Land, Building, and Equipment. Approximately $4,685,000 of this
expenditure is the acquisition of the new building for Seattle, which was paid for by the bonds recorded in the next
section of this schedule.
The
Perkins
Loan fund has loaned $380,772 to students so far this year while collecting $351,391 on past loans for a
slight use of cash. In total, investing activities used $8,598,763 in the first half of the year.
The proceeds from the Seattle bond issue, offset by $406,985 in principal repayment accounts, is the primary item of
activity in FINANCING ACTIVITIES. Financing Activities contributed $7,374,880 to cash flow at December 31.
In total, this shows us that, while Antioch has an increase in net assets of $5,118,130 for the first six months of the year,
there has been a $838,407 usage of cash during that period. Since, generally, more that half of the expenses for the
year are spent by December 31, but not half of the campus revenues have been collected, we expect the second half of
the year to ease the cash flow with additional contributions from operating activities.
Cash flows from operating activities:
Change in net assets
Adjustments to reconcile change In net assets
to net cash provided by (used for) operating activities:
Depreciation
(Increase) decrease in accounts and grants receivable
(Increase) decrease in contibutions receivable
(Increase) decrease in
prepaids
increase (decrease) in accounts payable and accrued expenses
Increase (decrease) in annuity liability
Increase (decrease) in deferred revenues
Contributions restricted for long-term investment
Interest and dividends restricted for reinvestment
Net (gain) loss on sales of investments
ANTIOCH UNIVERSITY
Statement of Cash Flows
For the Six Months Ended December 31. 1996
Net cash provided by (used for) operating activities
Cash flows from Investing activities:
Net Proceedsfrom investing acitities
Purchases of land, building and equipment
Disbursements of loans to students
Repayments of loans from students
Net cash provided by (used for) investing activities
Cash flows from financing activities:
Proceeds from issuance of indebtedness
Repayments of principal of indebtedness
Receipts of interest and dividends restricted for reinvestment
Contributions received restricted for long-term investment
Receipts from (contributions to) governmental loan funds
Net cash provided by (used for) financing activities
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of period
EXPENDITURE SUMMARY BY FUNCTION
As with the Summary by Category schedule, this schedule is designed so that positive entries in the Variance YTD
Actual to YTD Budget are favorable while negative entries are unfavorable. The adoption of the FASB reporting
standard consolidated some Revenue and Expense items that were not reflected in the Annual Budgetprior to 1996197.
Here are some illustrations of items that were formerly omitted:
The Gifts line includes $14,972 as gifts-in-kind.
The Grants line is primarily SEOG student loan funds and Federal Work Study Program support. Several of the
campuses also have service or research grants and contracts.
The Released from Restrictions line shows donor funds that are being used for specified purposes. Library acquisitions
and the Hughes Science Project are part of this total, as are scholarships funds.
The YTD Actual of $20,549 shown on the Research line is associated with the Hughes Science Project.
The Public Service line reports various community activities such as the contracts of New England’s Institute for
Community and Environmental Studies Department. ICEM contracts with local governments to prepare environmental
assessments and other studies. Students participate and the contracts generate funds to cover the cost of their training.
The Institutional Support line of $5,027,152 includes the support costs of the Trustees, Administration, Business
Operations, Public Relations, Alumni Affairs, Central Computing, etc.
Plant Maintenance includes $979,719 of depreciation. Although depreciation effects assets used by all programs, our
inventory records do not allow us to associate specific pieces of equipment with their use. Therefore, depreciation is
reported here.
EXPENDITURE SUMMAHY BY WNU IIWN AS Wl- UbUbMBbK 31,lYYb
% YTD
Budget of
Annual Budget
——-
% YTD Variance
Actuals of YTD Actual to
Annual Budget YTD Budget
1996197
Annual Budget
——-
1996197
YTD Budget
——-
1996197
YTD Actual ——-
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
Annual Budget Conversion to Cash Basis
Capital Expenditures
Borrowing Proceeds
Principal Payments
Prior Year Reserves
Add back Deprciation
Total Cash Items
Net Cash Basis Budget
EXPENDITURE SUMMARY BY CATEGORY
This schedule shows the Revenues and Operating Expenses as projected in the 1996197 Annual Budget and also the
amounts budgeted for the first six months of the fiscal year. This schedule is designed so that positive entries in the
Variance YTD Actual to YTD Budget are favorable while negative entries are unfavorable.
We are now able to present the 1996197 YTD Budget amounts because the campuses included monthly revenue and
expenditure estimates in the Datatel system when they developed their 1996-97 budget. This was the first time that the
campuses were asked to provide this information by month and not all of the estimates have proven to be accurate. For
example, revenue that is associated with subsequent terms but realized before December 31
(i.e.,
advance tuition
payments) was not always budgeted in the first six months of the year. Because such sums are received and recorded
in the first half of the fiscal year, the 1996197 YTD Actual revenue will appear to be well ahead of the budget. Similar
problems with budgeting expenditures in the correct time period can also make the YTD Actuals look better or worse
than they really are. Experience with the Datatel system and the timing of specific financial events will resolve most of
these anomalies so that future reports are more accurate.
The third column of this schedule, % YTD Budget of Annual Budget, compares the amounts budgeted for the first six
months of the year with the amounts budgeted for the full year. The schedule then shows the
1996/97
YTD Actual
amounts received or expended and provides a percentage comparison of the actuals for the first half of the year with the
amounts budgeted for the full year. The dollar variance between the YTD Actual and the YTD Budget is shown in the
last column.
To illustrate, the first line of the schedule shows budgeted annual revenue of $46,070,072 and $28,781,512 budgeted
for the first half of the year. The third column shows that we anticipated getting 62.47% of the total annual revenue
before December 31. But the fourth column reports that only $27,866,396 was actually received before December 31.
This is only 60.49% of the annual budgeted amount (Column 5), or $-915,116 less than was expected (Column 6).
Specific Revenues are not identified on this schedule. Detail of the Revenues is presented in the next schedule.
Operating Expenses are displayed by categories of expense on this schedule, and the meaning of each of the Line
Items is described at the back of this report.
The Excess Revenue over Expenses line shows a total of $4,907,030. The Excess Revenue over Expenses line of the
Annual Budget (column 1) shows an accrual deficit of $-593,330. To bring the Annual Budget into balance, Capital
Expenditures
($7,844,298),
Principal Payments
($972,572),
and other entries need to be considered. When these items
are reflected, the Net Cash Basis Budget is zero.
The Variance YTD Actual to YTD Budget shows a $-724,480 Cash Basis deficit, but this may disappear after the
passage of time corrects for revenue and expenses that were not budgeted in the correct quarter, and if the continuing
efforts of the campuses are successful in reducing costs to match revenues.
TOTAL UNIVERSITY
EXPENDITURE SUMMARY BY CATAGORY AS OF DECEMBER 31,1996
% YTD
Budget of
Annual Budget
——-
62.47%
% YTD
Actuals of
Annual Budget
——-
60.49%
Variance
YTD Actual to
YTD Budget
——-
-91 5’1 16
1996197
Annual Budget
——-
46,070,072
1996197
YTD Budget
——-
28,781,512
1996197
YTD Actual
——-
27,866,396 Revenues
Operatlng 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 Revenue Contigency, Mandatory
Campus Program Contingency, Discretionary
Liquidity Reserve
Overhead
To the University
Rebates from the University
Subsidy from Adult Campuses
Subsidy from Overhead
Other(1nter
Campus Agree. & Univer Conf)
Depreciation
Total Operatlng Expenses
Excess Revenue over Expenses
Annual Budget Conversion to Cash Basis
Capital Expenditures
Borrowing Proceeds
Principal Payments
Prior Year Reserves
Add back Depreciation
Total Cash Items
OBSERVATIONS
The financial condition of the University at mid-year is better than it was a year ago, primarily because the College has
done much to restructure its spending and stabilize its enrollment. College Year-to-Date Actual revenues are only
$389,428 behind expenditures, and expenditures are $323,332 below the budgeted amounts. Because of the calendar
transition from quarters to semesters, the College will have less tuition and fee revenue this year than it had last year or
that it will have next year, but its expenses are well below what they were last year. Most important, the College is
gathering momentum as it focuses on the need to attract and retain more students. The long-term plan to rejuvenate the
College will need more than a year to accomplish its objectives, but the direction is clear.
From the stand point of the need to recognize the positive achievements of the College this year, a technical error in the
way tuition and fees were budgeted makes the College’sfinancial status look far worse in these reports than it actually
is. As a result of the change from quarters to semesters, tuition revenue that will be received in January was included in
the December budget. As a consequence, the College appears to be $2.5 million below budget at mid-year. If this
technical error were corrected, the revenue deficit would likely be only about $400,000. Despite the solid fall enrollment
numbers, total tuition income will remain low this year because of the calendar transition.
The enrollment situation in Southern California is serious. In the Fall the Trustees were alerted to declines in student
numbers at the Los Angles campus, but the Winter quarter enrollment appears to be declining more than was
anticipated. At the December meeting of the ULC, before the enrollments for the Winter quarter were known, Southern
California was authorized to use its budgeted contingency plus $200,000 of its accumulated reserves from prior years to
cover the projected revenue deficit. Significant efforts were undertaken to reduce costs and to begin restructuring
program offerings to make them more attractive to more students. Unfortunately, the unexpectedly large drop in Winter
quarter enrollment means that the potential deficit is considerably larger than originally projected.
Overall, Total Revenue for the University appears to be $915,116 below the mid-year budget level, but this is
misleading. While the College anticipated revenue that will not be received until the third quarter of the fiscal year,
Seattle budgeted 45% of its annual revenue in the first half, but actually received nearly 68%. The problem with
budgeting both revenue and expenditures in the right time period makes using the Variance of Actuals and Budget less
reliable of a status measure than it will be in the future.
A more favorable view results from comparing Year-to-Date Actual revenue with Year-to-Date Expenses. At mid-year,
revenue is $4,907,030 ahead of expenditures. Of course, six months do not make a year. Revenue and expenditure
patterns are not linear across the calendar and much work remains to insure a favorable outcome for 1996-97.
Glenn Watts, Vice Chancellor
ANTIOCH COLLEGE
MID-YEAR 1996-97 BUDGET NARRATIVE
College enrollment for the Fall semester is 464 compared to 433 budgeted and early estimates for Spring indicate 334
compared to 353 budgeted. Projected enrollment totals 798 YTD headcount based on a budgeted headcount of 786.
This is an annualized improvement to budget.
Total College revenues reflect an unfavorable variance of ($2,579,253) through December as a result of budgeted YTD
tuition and fees that were based on Fall a Spring enrollments. Current enrollment estimates should add $2,725,774
in gross tuition for Spring semester. Other fees and revenues will also be collected as projected. Antioch Education
Abroad revenues are below budget reflecting enrollment slightly lower than originally planned, but Spring programs are
projected to generate an additional $230,000. College Gift and Grant income exceeds budget reflecting a slight
increase in annual giving. Auxiliary Enterprise revenues also reflect a unfavorable position as a result of lower than
planned computer sales and external events through Fall semester. Annualized projections for a balanced budget
require the use of Gateway and
Brahams
bequests, the continued use of appropriate restricted fund balances, and
contingency funding to replace the revenue from the second summer block which must be deferred until July 1, 1997.
Expenditures through December indicate spending restraint and favorable budget performance in most areas of
operations. Unfavorable variances in Instruction, Academic Support, and Student Services are a result of salary and
benefit expenses which are offset by items budgeted in the Institutional Support category. Leadership transition costs
through December are not budgeted and are significant in the unfavorable salaries and benefits variance. Other
categories of unfavorable performance include expenses for student health services and additional security coverage.
The Training and Development category (which includes travel) is over budget as a result of AEA completed program
expenses through December but which are budgeted over twelve months. Expenditures in Business Operations reflect
completion of annual printing for Admissions materials, the College catalogue, and annual
OFIC
and GLCA dues
payments. Postage and Telephone expense reflect unfavorable performance and these will be reduced in Spring
semester. Interest expense is higher than budgeted for the Power Plant renovation but will be offset by reductions in
other budgeted Plant Operations. AEA expenditures generally reflect annualized program costs although budgeted for
only half of program costs through December. College spending rates are conservative but have no flexibility for
unanticipated contingencies beyond budgeted reserves.
The collection rate for student receivable accounts as of 12/31/96 for Fall 96-97 is 89.79% and for fiscal year 95-96 is
98.61 %. College collection efforts continue to improve each term.
Bob Devine, Acting President
ANTIOCH COLLEGE
EXPENDITURE SUMMARY BY FUNCTION AS OF DECEMBER 31,1996
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
Annual Budget Conversion to Cash Basis
Capital Expenditures
Borrowing Proceeds
Principal Payments
Add back Deprciation
Total Cash Items
1996197
Annual Budget -.–.-.
10,377,497
-2,294,800
1,207,776
1,554,738
200,000
0
80,500
11,125,711
2,578,542
905,897
14,610,150
4,115,746
122,028
0
703,319
2,093.744
1,585,137
1,387,892
1,788,569
11,796,435
2,268,048
14,064,483
545,667
147,867
0
397,800
0
545,667
% YTD
1996197 Budget of
YTD Budget Annual Budget
% YTD Variance
1996197 Actuals of YTD Actual to
YTD Actual Annual Budget
ANTIOCH COLLEGE
EXPENDITURE SUMMARY BY CATAGORY AS OF DECEMBER 31,1996
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
ContingencyIReserves
Campus Revenue Contigency, Mandatory
Campus Program Contingency, Discretionary
Liquidity Reserve
Overhead
To the University
Rebates from the University
Subsidy from Adult Campuses
Subsidy from Overhead
Other(lnter
Campus Agree. & Univer Conf)
Depreciation
Total Operating Expenses
Excess Revenue over Expenses
Annual Budget Conversion to Cash Basis
Capital Expenditures
Borrowing Proceeds
Principal Payments
Add back Depreciation
Total Cash Items
Net Cash Basis Budget
1996197
Annual Budget
——-
14,610,150
% YTD
1996197 Budget of
YTD Budget Annual Budget
1996197
YTD Actual
% YTD Variance
Actuals of YTD Actual to
Annual Budget YTD Budget
——- —.-.-
43.47% -2,579,253
ANTIOCH NEW ENGLAND
MID-YEAR 1996-97 BUDGET NARRATIVE
The narrative presented for the First Quarter Report, reviewed in October, could legitimately be repeated here. At that
time, Antioch New England reported an enrollment shortfall in new matriculants for the summer and fall of 25 FTE, or a
revenue problem of approximately $250,000. The landscape has not changed; if anything, it is a bit more bleak
because new student matriculation projections for the spring 1997 semester fell short of our goal by 10 FTE. While this
most recent development will not have a profound effect on the 1996-97 budget, there will be a significant impact on the
carryover revenue that can be applied to the 1997-98 budget. We do anticipate some relief from a reduction in the
Graduate School’s overall attrition for 1996-97, perhaps something in the 7% range rather than the budgeted projection
of 8%.
One should not be misled by the positive revenue variance which: does not reflect the revenue shortfall in the regular
operating budget; and (b) conservatively
and/or
inaccurately estimated the revenues in the designated fund activity
(i.e.
grants, contracts, etc.). Because the designated fund activity is largely a “wash”
(i.e.
expense will equal revenue with
little of that expense applicable to the regular operating budget via transfer), our overall position looks better than it is.
The source of negative variances on the expense side resides in the unpredictable designated fund activity. The
$230,314 negative operating expense relates to expense tied to increased designated fund activity (an increase in
revenue equals increased expense in designated fund areas).
Adjustments to ensure a balanced budget and compliance with required bond ratios were articulated in the first quarter
narrative and do not need to be repeated in detail here. In addition to hiring and expenditure freezes, etc., we have
made the difficult decision to close our Organization and Management Site in New Haven, Connecticut, ending a
presence of 18 years in Connecticut. From a financial perspective, the operation was no longer viable and efforts to
significantly turn it around did not work.
While we were able to ride the crest of the growth wave for more than a decade, we always knew that we would face this
situation at some point. We simply could not predict the “when.” (It is precisely the reason why advocacy for the
quasi-
endowment and carry forward funding issues have been so paramount at Antioch New England.) Enrollment dilemmas
are present in graduate programs elsewhere, and the significant reduction in state and federal financial support for
mental health and environmental initiatives has not helped.
We are not saddled with these current budgetary issues because of a lack of effort or creativity. There are encouraging
new marketing initiatives (more visiting days, the soon-to-be published “After
ANE”
which profiles
alumnilae
and
ANTIOCH NEW ENGLAND
MID-YEAR 1996-97 BUDGET NARRATIVE (Cont’d)
articulates our meta-curriculum, etc.) and other response efforts to find those new niche markets which have been our
historical keystones
(e.g.,
launching a weekend only delivery of our management programming out of Keene,
exploration of new partnerships with vocational rehabilitation counselors and Project Adventure, program development
in health psychology, and the development of cross-disciplinary weekend elective courses focused on core themes
common to all disciplines, etc.). These are not the best of times, but we are focused and forging ahead with a clear
understanding of our imperatives and our tasks.
Jim Craiglow, 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
Annual Budget Conversion to Cash Basis
Capital Expenditures
Borrowing Proceeds
Principal Payments
Add back Deprciation
Total Cash Items
Net Cash Basis Budaet , – – * ,% . – =
1996197
Annual Budget ——-
8,271,602
-1 00,000
51,000
77,500
0
235,000
160,300
8,695,402
0
251,200
8,946,602
4,241,999
0
252,376
338,855
538,508
2,662,887
705,243
19,350
8,759,218
0
8,759,218
187,384
122,384
0
65,000
0
187,384
ANTIOCH NEW ENGLAND GRADUATE SCHOOL
EXPENDITURE SUMMARY BY FUNCTION AS OF DECEMBER 31,1996
% YTD
1996197 Budget of
YTD Budget Annual Budget
1996197
YTD Actual ——-
7,909,643
-48,652
0
210,113
0
77,117
27,376
8,175,597
0
80,944
8,256,541
2,256,835
0
146,776
148,819
271,788
1,290,175
347,633
194.535
4,656,561
0
4,656,561
3,599,980
87,383
0
65,000
0
152,383
‘ 3.447-597
% YTD
Actuals of
YTD
Annual Budget Y
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 Revenue Contigency, Mandatory
Campus Program Contingency, Discretionary
Liquidity Reserve
Overhead
To the University
Rebates from the University
Subsidy from Adult Campuses
Subsidy from Overhead
Other(1nter
Campus Agree. & Univer Conf)
Depreciation
Total Operating Expenses
Excess Revenue over Expenses
Annual Budget Conversion to Cash Basis
Capital Expenditures
Borrowing Proceeds
Principal Payments
Add back Depreciation
Total Cash Items
Net Cash Basis Budget
ANTIOCH NEW ENGLAND GRADUATE SCHOOL
EXPENDITURE SUMMARY BY CATAGORY AS OF DECEMBER 31,1996
% YTD % YTD Variance
1996197 1996197 Budget of 1996197 Actuals of YTD Actual to
Annual Budget YTD Budget Annual Budget YTD Actual Annual Budget YTD Budget
——- .–..-. ——- ——- ——- ——-
8,946,602 7,729,650 86.40% 8,256,541 92.299’0 526,891
ANTIOCH SEATTLE
MID-YEAR 1996-97 BUDGET NARRATIVE
Antioch University Seattle is off to a good start for 1996-97. Our Summer FTE was up by over 60 for the Quarter and
preliminary numbers on Fall enrollment are at 54 over out projected FTE. We are pleased with these numbers but are
also cognizant of the challenges of providing services to our head count of 772 students. We will undoubtedly need to
provide some additional unbudgeted service to these extra students.
At the same time our spending is below budget in all areas except for the plant maintenance. This is due to the
negotiated lease settlement with the Swallow’s Nest that has us paying for one of their lease spaces because we asked
them not to proceed with plans to utilize the space. This was not a budgeted expense! but is one that we can handle.
This obligation has ended with the closing of the purchase, so the deficit in this category will not continue to grow
beyond what was reflected in the October status reports.
We are committed to keeping the expenses of renovating and preparing to move to the new building within the
construction budget from bond proceeds. We do expect to have to tap the building fund that we have in our carry
forward reserves as this has been a planned part of the budget for the project from the beginning. Within the next 30-60
days we will have bids on the construction and not until that time will we have a clear sense of what trade-offs we may
need to make to stay within our planned construction budget. We know that some of the things required to make the
library and computer classroom functional are not provided for in our construction funds. While we hope to approach
foundations for some of these items! it may become necessary to tap operating funds before the year is out to make our
transition to the new building.
Gail Martin, Acting Provost
ANTIOCH SEAlTLE
EXPENDITURE SUMMARY BY FUNCTION AS OF DECEMBER 31,1996
Yo YTD
Budget of
Annual Budget ——-
YO YTD Variance
Actuals of YTD Actual to
Annual Budget YTD Budget ——- ——-
1996197
Annual Budget .——
1996197
YTD Budget ——-
1996197
YTD Actual ——-
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
Annual Budget Conversion to Cash Basis
Capital Expenditures
Borrowing Proceeds
Principal Payments
Add back Deprciation
Total Cash Items
Net Cash Basis Budget
ANTIOCH SEATTLE
EXPENDITURE SUMMARY BY CATAGORY AS OF DECEMBER 31,1996
% YTD
Budget of
Annual Budget
-..—-
45.33OIO
Yo YTD
Actuals
of
Annual Budget
——-
67.7g0h
Variance
YTD Actual to
YTD Budget
——-
1,544,438
1996197
Annual Budget
——.
6,875,531
1996197
YTD Budget
——-
3,116,823
1996197
YTD Actual
——-
4,661,261 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
ContingencyIReserves
Campus Revenue Contigency, Mandatory
Campus Program Contingency, Discretionary
Liquidity Reserve
Overhead
To the University
Rebates from the University
Subsidy from Adult Campuses
Subsidy from Overhead
Other(1nter
Campus Agree. & Univer Conf)
Depreciation
Total Operating Expenses
Excess Revenue over Expenses
Annual Budget Conversion to Cash Basis
Capital Expenditures
Borrowing Proceeds
Principal Payments
Add back Depreciation
Total Cash Items
Net Cash Basis Budget
ANTIOCH SOUTHERN CALIFORNIA
MID-YEAR 1996-97 BUDGET NARRATIVE
The largest single item affecting the Southern California budget during 1996-97 is the continued decline in enrollment.
Overall FTE enrollment through the Fall 1996 Quarter for the region is 60.25 below projection.
In
Los
Angeles!
the BA
Program is 28.60 FTE below projection; the MAP Program is 9.45 FTE below projection; and the
MAOM
Program is 4.50
FTE below projection.
In
Santa Barbara, the BA Program is 13.20 FTE below projection; the MAP Program is 9.20 FTE
below projection; and the
MAOM
Program is 4.70 FTE above projection–the one bright spot in the enrollment picture
thus far.
These reports also are structured so that a portion of Winter 1997 Quarter revenue is reflected in December when
registration actually begins to occur. Preliminary indications are that enrollment for the Los Angeles campus will be
under projection by approximately 65 FTE, and Santa Barbara campus enrollment will be over projection by
approximately 5 FTE. Overall enrollment for the region for the Winter 1997 Quarter will be approximately 60 FTE below
projection.
These enrollment shortfalls have primarily contributed to the approximately $500,000 decrease in revenue for Southern
California shown in the Mid-Year Report. Because of student registration patterns (many students do not register until
January)! the actual shortfall in Southern California revenue is approximately $400,000. The variances in other
revenue categories are minor and basically offset one another.
Ex~enditure bv Cateaory
Student Aid Services shows a variance because a greater proportion of financial aid was awarded earlier in the year
than anticipated. A lower amount of
aid!
therefore! will be awarded for the remainder of the year.
Supply expenditures actually have been reduced thus far during the
year!
but Los Angeles campus readers for students
were pre-purchased to take advantage of quantity price breaks. The Supply line item will adjust later in the year.
Business Operations reflects increased advertising expenditures during the first half of the year and the use of
temporary employees to fill vacant staff positions. The latter are off-set by savings in the Salaries and Wages and
Benefits line items. Advertising expenditures will continue to exceed projections for the remainder of the year..
ANTIOCH SOUTHERN CALIFORNIA
MID-YEAR 1996-97 BUDGET NARRATIVE
(Cont’d)
Plant Maintenance reflects a variance for three reasons. First, the expenditure cycle for lease payments requires two
payments be made at the beginning of the fiscal year and no payment be made the last month of the fiscal year. This
seeming over expenditure during the year will net appropriately at the end of the fiscal year. Second, the Los Angeles
budget was prepared with the understanding that up to $80,000 would be used from a tax rebate received toward the
end of the last fiscal year. The rental line was deliberately under-funded for this reason. Third, increased costs for
common area maintenance for 1995 and 1996 in Santa Barbara were just billed and paid in December.
Expenditure bv Function
Student Services variance is the result of additional advertising thus far in the year. Additional expenditures beyond
budget are anticipated the remainder of the year.
Plant Maintenance and Scholarship variances have been explained above.
This is proving to be an extremely difficult year for Southern California. Depending on actual Spring 1997 Quarter
enrollment, a budget deficit of $150,000 to $200,000 could occur this year. This is after all regional contingencies
(approximately $1 90,000) are considered as well as $200,000 from carry forward funds authorized by the University
Leadership Council in December 1996.
Dale Johnston, Provost
ANTIOCH SOUTHERN CALIFORNIA
EXPENDITURE SUMMARY BY FUNCTION AS OF DECEMBER 31,1996
% YTD
Budget of
Annual Budget
——-
% YTD
Actuals of
Annual Budget
——-
Variance
YTD Actual to
YTD Budget
1996197
Annual Budget
——-
1996197
YTD Budget
——-
1996197
YTD Actual
——-
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
Annual Budget Conversion to Cash Basis
Capital Expenditures
Borrowing Proceeds
Principal Payments
Prior Year Reserves
Add back Deprciation
Total Cash Items
Net Cash Basis Budget
ANTIOCH SOUTHERN CALIFORNIA
EXPENDITURE SUMMARY BY CATAGORY AS OF DECEMBER 31,1996
% YTD
Budget of
Annual Budget
——-
68.65%
% YTD
Actuals of
Annual Budget
——-
62.56%
Variance
YTD
Actual to
YTD Budget
1996197
Annual Budget
——-
8,172,355
1996197
YTD Budget
——-
5,610,284
1996197
YTD Actual
——-
5,112,336 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
ContingencyIReserves
Campus Revenue Contigency, Mandatory
Campus Program Contingency, Discretionary
Liquidity Reserve
Overhead
To the University
Rebates from the University
Subsidy from Adult Campuses
Subsidy from Overhead
Other(lnter
Campus Agree. & Univer Conf)
Depreciation
Total Operating Expenses
Excess Revenue over Expenses
Annual Budget Conversion to Cash Basis
Capital Expenditures
Borrowing Proceeds
Principal Payments
Prior Year Reserves
Add back Depreciation
Total Cash Items
Net Cash Basis Budget
The McGREGOR SCHOOL
MID-YEAR 1996-97 BUDGET NARRATIVE
Though McGregor revenues for the first two quarters appear essentially on par with budget projections, they are actually
over-stated by about $85,000, since they include revenues still to be allocated to our partner in the Intercultural
Relations cluster of the IMA program, the Intercultural
Communications
Institute (ICI). This revenue slippage from
budget is attributable to
lower
than anticipated enrollments in summer and fall quarters, enrollment shortages which we
anticipate will widen during the rest of the fiscal year.
In order to reduce our expenditures to reflect lowered revenue expectations, we instituted a hiring freeze during the fall
quarter. This action has resulted in significant under-expenditures in the salary and benefit line items and in the
instructional, student services, and institutional support functional areas.
We are under-expended in all categories of operating expenses except for interest expense. For our campus, the only
expense in this category is bank charges for accepting credit card payments from students. For the first half of the year,
more students paid their tuition using a credit card which increased the amount we paid the bank in processing fees.
We will monitor the rest of the year to see if this trend continues since we will need to budget more for this line item if this
appears to be a continuing trend.
We are over budget on the line item “Other Cash Expenditures”, but this is due to the timing of expenditures. The total
budgeted for the year is $58,000 and of this amount $50,000 was to finish paying for renovation of our conference
center. The final bills for the conference center have been received, and we will have no further expenditures for
completion of the renovation.
We anticipate that the cumulative effects of enrollment shortfalls will produce a revenue shortage of between
$300,000-
350,000 by the end of the fiscal year. Our budget will be balanced by continuing to postpone the hiring of budgeted
faculty, staff, and administrators, some permanent job reductions, and a hiring freeze on replacing employees who
leave
McGregor.
These cuts and reductions will permit us to balance our revenues with our expenditures by years end.
Steve Brzezinski, Associate Provost
THE MCGREGOR SCHOOL OF ANTIOCH
EXPENDITURE SUMMARY BY FUNCTION AS OF DECEMBER 31,1996
% YTD
Budget of
Annual Budget ——-
% YTD
Actuals of
Annual Budget ——-
Variance
YTD Actual to
YTD Budget
1996197
Annual Budget
1996197
YTD Budget
——-
1996197
YTD Actual
——-
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
Annual Budget Conversion to Cash Basis
Capital Expenditures
Borrowing Proceeds
Principal Payments
Prior Year Reserves
Add back Deprciation
Total Cash Items
Net Cash Basis Budget
THE MCGREGOR SCHOOL OF ANTIOCH
EXPENDITURE SUMMARY BY CATAGORY AS OF DECEMBER 31,1996
% YTD
1996197 Budget of
YTD Budget Annual Budget
——- ——-
2,457,866 44.32%
% YTD Variance
1996197 Actuals of YTD Actual to
YTD Actual Annual Budget YTD Budget
——- ——- ——-
2,454,272 44.26% -3,594
1996197
Annual Budget
——-
5,545,249 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
ContingencyIReserves
Campus Revenue Contigency, Mandatory
Campus Program Contingency, Discretionary
Liquidity Reserve
Overhead
To the University
Rebates from the University
Subsidy from Adult Campuses
Subsidy from Overhead
Other(lnter
Campus Agree. & Univer Conf)
Depreciation
Total Operating Expenses
Excess Revenue over Expenses
Annual Budget Conversion to Cash Basis
Capital Expenditures
Borrowing Proceeds
Principal Payments
Prior Year Reserves
Add back Depreciation
Total Cash Items
Net Cash Basis Budget 0 -344,189 -15,943 328,246
ANTIOCH UNIVERSITY ADMINISTRATION
MID-YEAR 1996-97 BUDGET NARRATIVE
The Chancellor’s Report will present the major activities of the Office of the Chancellor. This report will focus on the
financial condition of the University administration.
At mid-year, the overall revenue is $33,562 below the level anticipated in the budget, and expenditures are $51,929
greater than planned. However, the Actual Year-to-Date Revenue is greater than Actual Year-to-Date Expenses by $
206,847. The Net Cash Basis Variance is $-45,156, but the Year-to-Date Net Cash Basis Budget is showing a positive
balance of $1 91,034. By managing carefully, it should be possible to insure that the Cash Basis Budget ends the year
in a balanced condition.
Glenn Watts, Vice Chancellor
EXPENDITURE SUMMARY BY FUNCTION AS OF DECEMBER 31,1996
% YTD Variance
1996197 Actuals of YTD Actual to
YTD Actual Annual Budget YTD Budget ——- ——- ——-
% YTD
Budget of
Annual Budget ——.
1996197
Annual Budget ——-
1996197
YTD 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
Overhead less Rebates & Subsidies
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 Budget Conversion to Cash Basis
Capital Expenditures
Borrowing Proceeds
Principal Payments
Add back Deprciation
Total Cash Items
Net Cash Basis Budget
ANTIOCH UNIVERSITY ADMINISTRATION
EXPENDITURE SUMMARY BY CATEGORY AS OF DECEMBER 31,1996
% YTD
Budget of
Annual Budget
——-
56.35%
% YTD Variance
Actuals of YTD Actual to
Annual Budget YTD Budget
——- -*—–
55.92% -9,414
1996197
Annual Budget
——-
2,184,945
1996197
YTD Budget
——-
1,231,160
1996197
YTD Actual
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
ContingencyIReserves
Campus Revenue Contigency, Mandatory
Campus Program Contingency, Discretionary
Liquidity Reserve
Overhead
To the University
Rebates from the University
Subsidy from Adult Campuses
Subsidy from Overhead
Other(lnter
Campus Agree. & Univer Conf)
Depreciation
Total Operating Expenses
Excess Revenue over Expenses
Annual Budget Conversion to Cash Basis
Capital Expenditures
Borrowing Proceeds
Principal Payments
Add back Depreciation
Total Cash Items
Net Cash Basis Budget
EXPENDITURE SUMMARY BY FUNCTION AS OF DECEMBER 31,1996
% YTD
1996197 Budget of
YTD Budget Annual Budget —–.. ——-
% YTD
Actuals of
Annual Budget ——.
Variance
YTD Actual to
YTD Budget ——-
1996197
Annual Budget –.–.-
1996197
YTD Actual .——
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
Annual Budget Conversion to Cash Basis
Capital Expenditures
Borrowing Proceeds
Principal Payments
Add back Deprciation
Total Cash Items
Net Cash Basis Budget
GLEN HELEN
EXPENDITURE SUMMARY BY CATAGORY AS OF DECEMBER 31,1996
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
ContingencyIReserves
Campus Revenue Contigency, Mandatory
Campus Program Contingency, Discretionary
Liquidity Reserve
Overhead
To the University
Rebates from the University
Subsidy from Adult Campuses
Subsidy from Overhead
Other(1nter
Campus Agree. & Univer Conf)
Depreciation
Total Operating Expenses
Excess Revenue over Expenses
Annual Budget Conversion to Cash Basis
Capital Expenditures
Borrowing Proceeds
Principal Payments
Add back Depreciation
Total Cash Items
1996197
Annual Budget
——.
689,461
% YTD
1996197 Budget of
YTD Budget Annual Budget
.—–. .——
255,419 37.05%
1996197
YTD Actual
——.
261,105
% YTD Variance
Actuals of YTD Actual to
Annual Budget
——-
37.87%
YTD Budget
——-
5,686
—
EXPENDITURE
% YTD
Budget of
Annual Budget ——-
% YTD Variance
1996197 Actuals of YTD Actual to
YTD Actual Annual Budget YTD Budget ——- —-.– ——-
1996/97
Annual Budget ——-
1996197
YTD 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
Annual Budget Conversion to Cash Basis
Capital Expenditures
Borrowing Proceeds
Principal Payments
Add back Deprciation
Total Cash Items
Net Cash Basis Budget
ANTIOCH REVIEW
EXPENDITURE SUMMARY BY CATAGORY AS OF DECEMBER 31.1996
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
ContingencyIReserves
Campus Revenue Contigency, Mandatory
Campus Program Contingency, Discretionary
Liquidity Reserve
Overhead
To the University
Rebates from the University
Subsidy from Adult Campuses
Subsidy from Overhead
Other(lnter
Campus Agree. & Univer Conf)
Depreciation
Total Operating Expenses
1996197
Annual Budget
——-
103,320
Excess Revenue over Expenses 0
Annual Budget Conversion to Cash Basis
Capital Expenditures
Borrowing Proceeds
Principal Payments
Add back Depreciation
Total Cash Items
1996197
YTD Budget
—.—
49,620
% YTD % YTD Variance
Budget of 1996197 Actuals of YTD Actual to
Annual Budget YTD Actual Annual Budget YTD Budget
——- ——- ——- —.—
48.03% 54,978 53.21% 5,358
EXPENDITURE SUMMARY BY FUNCTION AS OF DECEMBER 31,1996
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
Annual Budget Conversion to Cash Basis
Capital Expenditures
Borrowing Proceeds
Principal Payments
Add back Deprciation
Total Cash Items
Net Cash Basis Budget
1996197
Annual Budget ——-
1996197
YTD Budget ——-
% YTD
Budget of
Annual Budget –.—-
1996197
YTD Actual ——-
% YTD Variance
Actuals of YTD Actual to
Annual Budget YTD Budget
—–.. ——-
WYSO
EXPENDITURE SUMMARY BY CATAGORY AS OF DECEMBER 31,1996
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
ContingencyIReserves
Campus Revenue Contigency, Mandatory
Campus Program Contingency, Discretionary
Liquidity Reserve
Overhead
To the University
Rebates from the University
Subsidy from Adult Campuses
Subsidy from Overhead
Other(lnter
Campus Agree. & Univer Conf)
Depreciation
Total Operating Expenses
1996197
Annual Budget
—-.-.
456,958
Excess Revenue over Expenses 11,602
Annual Budget Conversion to Cash Basis
Capital Expenditures 0
Borrowing Proceeds 0
Principal Payments 11,602
Add back Depreciation 0
Total Cash Items 11,602
% YTD
1996197 Budget of 1996197
YTD Budget Annual Budget YTD Actual
% YTD Variance
Actuals of YTD Actual to
Annual Budget YTD Budget
.—— ——-
35.00% -69,194
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
ContingencyIReserves
Campus Revenue Contigency, Mandatory
Campus Program Contingency, Discretionary
Liquidity Reserve
Overhead
To the University
Rebates from the University
Subsidy from Adult Campuses
Subsidy from Overhead
Other(lnter
Campus Agree. & Univer Conf)
Depreciation
Total Operating Expenses
ANTIOCH UNIVERSITY WIDE EXPENSES
EXPENDITURE SUMMARY BY CATAGORY AS OF DECEMBER 31,1996
% YTD % YTD Variance
1996197 1996197 Budget of
1996/97
Actuals of YTD Actual to
Annual Budget YTD Budget Annual Budget YTD Actual Annual Budget YTD Budget
——- ——- .—— ——- ——- ——-
947,267 397,952 42.01% 526,307 55.56% 128,355
Excess Revenue over Expenses -1,686,830 -839,863 49.79% -869,144 5 1.53% -29,281
Annual Budget Conversion to Cash Basis
Capital Expenditures 0 0 0 0
Borrowing Proceeds 0 0 0 0
Principal Payments 113,170 56,586 50.00% 49,731 43.94% 6,855
Add back Depreciation -1,800,000 -900,000 50.00% -979,719 54.43% 79,719
Total Cash Items -1,686,830 -843,414 50.00% -929,988 55.13% 86,574
Net Cash Basis Budget – *
AIR AGING REPORT DECEMBER 31,1996
I I I I I I
UNIT1
STUDY PERIOD
COLLEGE
1995196 Year
96 SUMMER
96 FALL
97 SPRING
Total College
SANTABARBARA
1995196 Year
96 SUMMER
96 FALL
97 WINTER
97 SPRING
Total S.B.
LOS ANGELES
1995196 Year
96 SUMMER
96 FALL
97 WINTER
97 SPRING
Total L.A.
SEATTLE
1995196 Year
96 SUMMER
96 FALL
97 WINTER
97 SPRING
Total Seattle
NEW ENGLAND
1995196 Year
96 SUMMER
96 FALL
97 SPRING
Total NE
1 97 WINTER I
1995196 Year
96 FALL
97 WINTER
97 SPRING
Total A.E.A.
MCGREGOR
1995196 Year
96 SUMMER
96 FALL
AMOUNT
BILLED
$1 2,076,361
$1 08,980
$5,220,020
$1 7,405,361
$2,078,852
$389,675
$579,800
$626,445
$3,674,772
NIA
$1,034,205
$1,317,400
$1,295,765
$3,647,370
$5,619,748
$1,162,504
$1,505,415
$1,263,654
$9,551,321
$7,651,166
$1,366,700
$3,180,761
$3,179,866
$15,398,493
$473,400
$473,400
$4,434,485
$932,471
$1,556,110
97 SPRING
Total MCG
AMOUNT
COLLECTED
$1 1,908,966
$106,131
$4,687,179
$1 6,702,276
$2,070,846
$388.692
$568,022
$430,291
$3,457,851
NIA
$1,032,281
$1,271,362
$550,020
$2,853,663
$5,616,446
$1,156,129
$1,449,760
$31 1,820
$8,534,155
$7,613,796
$1,369,488
$3,128,195
$1,230,305
$13,341,784
TOTAL UNIV
$461,774
$461,774
$4,333,530
$902,166
$1,267,365
$6,923,066
AMOUNT
OUTSTANDING
$1 67,395
$2,849
$532.841
$703,085
$8,006
$983
$1 1,778
$196,154
$216,921
$1,924
$46,038
$745,745
$793,707
$3,302
$6,375
$55,655
$951,834
$1,017,166
$37,370
$17,212
$52,566
$1,949,561
$2,056,709
$57,073,783
$1 1,626
$1 1,626
$1 00,955
$30,305
$288,745
$6,503,061
PERCENTAGE
COLLECTED
12/31/96
98.61 O/O
97.39%
89.79%
95.96%
99.61%
99.75%
97.97%
68.69%
94.10%
99.81%
96.51 %
42.45%
78.24%
99.94%
99.45%
96.30%
24.68%
89.35%
99.51 %
98.76%
98.35%
38.69%
86.64%
$51,854,564
PERCENTAGE
COLLECTED
12131195
90.78%
90.78%
99.91 O/o
97.54%
98.50%
99.55%
98.41%
98.91%
99.85%
96.74%
97.89%
99.28%
97.82%
30.36%
72.40%
97.54%
97.54%
97.72%
96.75%
81
.44%
$420,005
80.60%
86.47%
$5,219,219
93.93% 84.36%
90.86% 85.81
%
Status of Accounts Payable
As of December 31, 1996
Aged from Invoice Date
Prior
% of Total Year
Current (0 to 30) 382,3 17.68 75.84% 65.86%
31 -60 Days 93,431.16 18.53% 28.65%
61 to 90 Days 10,854.05 2.15% 0.80%
Over 90 Days . 17.51 4.00 3.47% 4.69%
INSTRUCTION:
Undergraduate
Heritage Institute
Preparatory-Remedial Education
Arts
Communications
Computer Instruction
Cooperative Education
Environmental Field Program
Humanities
Interdisciplinary
International Studies
Languages
Natural Sciences
Physical Education
Social & Behavioral Sciences
AEA
Brazil
AEA Buddhist Studies
AEA Egypt
AEA Germany
AEA Japan
AEA Mexico
AEA Overseas Non-AEA Program
AEA Women’s Studies
MA Management
MA Psychology
MA Education
OR1
Whole System Design
MA Organizational Management
Community Education
DanceIMovement
Therapy
Counseling Psychology
Marriage and Family Therapy
Environmental Studies
Education
ChairIOrganization & Management
Chair/Applied
Psychology
Clinical Psychology
O&M/Bennington
INSTRUCTION Cont’d:
O&M/New
Haven
O&M/Keene
IMA
Weekend Program
Intercultural Relations
Conflict Resolution
Summer Seminar
RESEARCH:
Individual and Project Research
PUBLIC SERVICE:
Glen Helen
Outdoor Education Center
Raptor
Center
Antioch Review
WYSO
Community Development
ACADEMIC SUPPORT:
Academic Administration
General Faculty
AEA Administration
AEA London
LibraryIMedidMedia
Services
Academic Personnel Development
Course & Curriculum Development
Psychological Services Center
Research and Evaluation
Writin
Center
WDS ? nstitute
STUDENT SERVICES:
Financial Aid Administration
Student Admissions
Registrar (Student Records)
Student Services
Advocate’s Off ice
Infirmary
Counseling
STUDENT SERVICES Cont’d
Security
Maples
Student Loan Office
INSTITUTIONAL SUPPORT:
University President
Special Account
Trustees
ProvostfPresident
President’s Fund
Fiscal Operations
Business Operations
General Administration
Central Services
Personnel
Alumni
Development/Advancement
Public Relations
Publications
Administrative Computer Service
University Miscellaneous
University Restructuring
Supplemental Retirement
PLANT MAINTENANCE:
Maintenance
Custodial
Building 81 Grounds
Power Plant
SCHOLARSHIPS-
Grants & Scholarship
AUXILIARY ENTERPRISES:
Dining Services
External Events
Housing
Bookstore
Computer Sales
LINE ITEMS
SALARIES & WAGES: Compensation
Paid to Contracted Employees
Core Faculty
Associate Faculty
Adjunct Faculty
Administrators
Administrative Associate
Unionized Staff
Non-Unionized Staff
Wage and Salary Adjustment
WorWStudy
Students on Campus
WorkIStudy
Off Campus
Student Wages
Other Staff Employees
Student Vouchers
Student Stipends
Overseas Allowance
Work Study
BENEFITS: Required and Non-Required
Benefits Paid
BenefitsICore
Faculty
BenefitsIAssociate
Faculty
BenefitsIAdjunct
Faculty
BenefitsIAdministrators
BenefitsIAssociate
Administrators
BenefitsIUnionized
Staff
BenefitsINon-Unionized
Staff
Retirement Contingencies
Contracted Professional Development
Moving Expenses
Other Staff Benefits
Miscellaneous Benefits
TRAINING & DEVELOPMENT:
Non-Contracted Expenses for Trg &
Development
Business Travel
Business Miscellaneous
Local MeetingstWorkshops
A IN
Employee Recruiting
Program Development
STUDENT AID:
Restricted Grant Scholarshios
Student Vouchers
SPECIAL EVENTS:
Graduation
Orientation
Miscellaneous Special Events
s-: Supplies that are 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
AudioNisual
Advertising
Telecommunications
Legal
Audit
£
Faci
PLANT MAINTENAN
Costs Related to
CZEE:
lities
Maintenancelcontracts & Repairs
Purchased Services
Utilities
Vehicle Operation
Facility Rental
Equipment Rental
Insurance
Taxes
INTEREST & BANK CHARGES:
Interest
Bank Charges (include credit card charges)
RESALE
COSTS:
Books for Resale
Computers for Resale
Supplies for Resale
MISCELLANEOUS COSTS:
Miscellaneous
Student Activities
Student Insurance
CONTINGFNCYIRESERVES:
Campus Contingency
University Contingency
Bad Debts
Uncollected Revenue Reserve
Capital Reserve
v 0 ERHEAD COSTS:
Regional Overhead
University Overhead
Innovation Fund
College Fund
University Rebate
