10

Unaudited Financial Statement Highlights – 
October 2017

EXECUTIVE SUMMARY

The purpose of this article is to provide information related to the unaudited financial performance of the Foundation for the 

month of October 2017. The Foundation generated a monthly surplus greater than budgeted, the majority due to endowment 

and general portfolio earnings 

and continuing education.

ENTERPRISES

Summary

 – For the month 

ended, the Enterprise operations 

generated a deficit as all

activities lost more than 

budgeted except for Dining 

Services.  

Bronco Bookstore

 – Revenues 

are 98% or $14,869 short of 

budget due to textbook sales

and textbook rentals below 

budget. Cost of goods is 64% 

versus 71%; payroll and

expenditures are 18% versus 

17% of budgeted revenues. We 

appreciate the university’s

support and the president’s 

request that what we spend on 

campus stays on campus.

Dining Services

 – Revenues are 

98% or $54,369 short of budget. 

These revenues consist

of 60% from retail and 40% from 

board operations; cost of goods 

sold is 30% versus 32%

of budget, salaries and 

expenditures are 54% versus 

51% budgeted. Retail revenues

exceed budget by 2% or 

$34,710; cost of goods is 34% 

versus 34% of budget, salaries 

are 32% versus 30% of budget 

and expenditures are 22% versus 

22% of budget generating a

surplus of $192,824 versus a 

budgeted surplus of $199,732. 

Board operation revenues are

92% or $89,079 short of budget; 

costs of goods are 25% versus 

30% of budget, salaries are 

24% versus 21% of budget and 

Monthly 

Budget

Monthly 

Actual

Monthly 

Variance

Y T D 

Budget

Y T D 

Actual

Enterprise Activities

Bookstore

(36,976)

15,612 

52,588

83,400

110,741

Dining Services

444,423

408,746

 

(35,677)

 

(137,212)

(224,987)

Kellogg West Conf. & Hotel

21,376

26,992

5,616

47,575

46,579

University Village Housing

420,293

484,115

 

63,822

(443,917)

(298,703)

     Subtotal:

849,116

935,465

86,349

(450,154)

(366,370)

 

General Activities

Foundation Administration

23,146

53,336

30,190

(115,654)

(158,331)

Real Estate Development

19,113

32,249

13,136

337,085

392,425

General Investments

(2,070) 

257,962

260,032

355,445

1,349,990

 

Building Rental

7,273

16,200

8,927

41,645

63,757

 

     

Subtotal:

47,462

359,747 

312,285

 

618,521

1,647,841

 

Designated Funds

(130,160)

(91,656)

38,504

(520,638)

(309,358)

Other Activities

Research Office

(1)

0

1

 

19,998 

20,000

Agriculture

260,568

(75,079)

(335,647)

(35,246)

 

(133,575)

Continuing Education

(68,153)

264,134

332,287

 

414,716

612,321

Fdtn Programs-Unrestricted

0

3,737

3,737

0

59,970

     

Subtotal:

(192,414)

192,792

378

399,468 

558,716

Net Surplus/(Deficit) 

Unrestricted:

958,832

1,396,348

 

437,516

47,197

1,530,829

Fdtn Programs-Restricted

202,423

(156,217)

(358,640)

1,875,447

2,771,886

Endowment Programs-

Restricted

249,623

1,598,028

1,348,405

(2,540,453)

 

1,743,586

Assets Transferred to 

University

(340,199)

(340,199)

(447,251)

Net Surplus/(Deficit)

Restricted 

456,046

1,101,612

649,566

(665,006)

4,068,221

Net Surplus/(Deficit) 

Grand Total:

1,410,878

2,497,960

1,087,082

(617,809)

5,599,050