HAWAIi® of UNIVERSITY - University of Hawaii › offices › bor › finance › ...UNIVERSITY of HAWAIi® SYSTEM HIvHSI;Y 3F HAtAH EOAkD OF REGENI S 16 MAY12 P2:19 Kalbert K. Young

UNIVERSITYof HAWAIi®

SYSTEM

HIvHSI;Y 3F HAtAHEOAkD OF REGENI S

16 MAY12 P2:19

Kalbert K. YoungVice President for Budget and Finance

Chief Financial Officer

May 12, 2016

Attached is the FY16 Third Quarter Financial Report for the period endingMarch 31, 2016 for the University of Hawai’i System. This report is aninformation item for discussion at the Budget and Finance Committee meetingon May 18, 2016.

To complement this Third Quarter Financial Report a slide deck presentationwhich summarizes a high-level analysis fo the report is also included. The VicePresident for Budget and Finance is anticipated to present this as an agendaitem before the committee and will be available for any questions of members.

Attachments

c: University Budget Office (wlo Attachments)University Controller (w/o Attachments)

2444 Dole Street, Bachman Hall, Room 201Honolulu, Hawai’i 96822

Telephone: (808) 956-8903 • Fax: (808) 956-5286

An Equal Opportunity/Affirmative Action Institution

Jan Sullivan, ChairBudget and Finance Committee

David LassnerPresident

TO:

VIA:

FROM:

SUBJECT:

-0

Kalbert K. YoungVice President for

rn‘-I

r%J

iet and Finance/Chief Financial Officer

FY 16 Third Quarter Financial Report as of March 31, 2016

Report to the University of Hawaii Board of Regents Committee on Budget and Finance

FY 2016 Quarterly Financial Report for General, Special and Revolving Funds

For the Period Ending March 31, 2016

Page 1 of 49

Summary of Actual Revenue & Expenditures, Unencumbered Cash by Campus

Page 2 of 49

Last Updated: May 3, 2016File: FY16 BOR Qtrly Report - Qtr3 Final : Rev, Exp, Unenc Cash

FY 2015

Sub-FundRevenue/

AppropriationExpenditures/

Transfers Balance Cash EncumbrancesUnencumbered

Cash 2/5%

(Exec Policy)16%

(BOR Policy)

Unencumbered Cash as of 03/31/15

UH MānoaGeneral Funds $223,007,041 $171,270,276 $51,736,765 $51,736,765 $30,364 $51,706,401 n/a n/a $45,752,960

Tuition and Fees Special Fund $18,866,039 $229,263,987 $132,609,213 $115,520,813 $109,188,511 $9,216,174 $99,972,337 $21,378,838 $68,412,280 $75,851,108Other Special Funds 3/ $81,171,740 $86,678,852 $130,883,811 $36,966,781 $36,691,144 $9,652,171 $27,038,974 $4,469,442 $14,302,215 $24,542,025

Research and Training Revolving Fund $19,135,420 $15,055,888 $24,225,788 $9,965,520 $10,061,051 $1,500,332 $8,560,718 $1,726,491 $5,524,771 $20,084,723Other Revolving Funds $13,765,320 $27,024,373 $17,277,708 $23,511,985 $23,019,816 $1,935,073 $21,084,742 $1,310,918 $4,194,939 $18,679,564

Total, UH Mānoa $132,938,519 $581,030,140 $476,266,796 $237,701,864 $230,697,287 $22,334,114 $208,363,172 $28,885,689 $92,434,205 $184,910,380

UH HiloGeneral Funds $32,904,965 $23,669,953 $9,235,012 $9,235,012 $34,258 $9,200,753 n/a n/a $7,165,711

Tuition and Fees Special Fund $15,837,003 $36,259,583 $22,158,556 $29,938,030 $30,098,950 $2,750,360 $27,348,590 $3,461,024 $11,075,278 $26,926,226Other Special Funds 3/ $4,791,127 $8,776,204 $12,404,945 $1,162,386 ($88,681) $626,961 ($715,643) $376,152 $1,203,688 ($1,424,916)

Research and Training Revolving Fund $463,308 $1,872,851 $3,256,778 ($920,619) ($919,071) $73,637 ($992,708) $153,049 $489,757 ($198,160)Other Revolving Funds $2,068,411 $2,174,219 $1,533,924 $2,708,706 $2,691,963 $163,202 $2,528,761 $122,437 $391,798 $2,517,365

Total, UH Hilo $23,159,849 $81,987,822 $63,024,156 $42,123,515 $41,018,172 $3,648,419 $37,369,753 $4,112,662 $13,160,520 $34,986,226

UH West O‘ahuGeneral Funds $14,310,281 $10,601,441 $3,708,840 $3,708,840 $9,395 $3,699,444 n/a n/a $4,400,003

Tuition and Fees Special Fund $4,919,471 $14,732,947 $11,529,189 $8,123,229 $7,809,584 $933,814 $6,875,769 $1,127,025 $3,606,479 $4,526,890Other Special Funds 3/ $792,672 $443,401 $13,606 $1,222,467 $1,222,416 $39,576 $1,182,841 $19,644 $62,862 $646,556

Research and Training Revolving Fund $88,488 $70,102 $64,683 $93,906 $93,906 $65,000 $28,906 $3,377 $10,807 $13,214Other Revolving Funds $704,414 $820,723 $328,047 $1,197,090 $1,146,773 $23,735 $1,123,039 $24,603 $78,729 $818,529

Total, UH West O‘ahu $6,505,045 $30,377,454 $22,536,967 $14,345,531 $13,981,519 $1,071,520 $12,909,999 $1,174,649 $3,758,877 $10,405,191

Community CollegesGeneral Funds $125,637,803 $88,968,336 $36,669,467 $36,669,467 $0 $36,669,467 n/a n/a $28,056,095

Tuition and Fees Special Fund $13,496,533 $66,395,617 $50,075,589 $29,816,560 $27,457,085 $4,591,456 $22,865,629 $9,229,952 $29,535,845 $22,542,620Other Special Funds $25,620,263 $11,837,948 $12,463,877 $24,994,335 $25,928,273 $4,389,821 $21,538,452 $806,682 $2,581,383 $20,049,428

Research and Training Revolving Fund $2,440,709 $1,338,903 $1,329,609 $2,450,002 $2,450,382 $186,273 $2,264,109 $83,863 $268,360 $2,977,262Other Revolving Funds $2,832,094 $2,142,477 $1,770,159 $3,204,412 $3,173,281 $304,726 $2,868,555 $112,747 $360,789 $2,811,436

Total, Community Colleges $44,389,598 $207,352,748 $154,607,571 $97,134,775 $95,678,487 $9,472,276 $86,206,211 $10,233,243 $32,746,378 $76,436,841

University of Hawaii - FY 2016 Quarterly Financial Report for General, Special and Revolving FundsSummary of Actual Revenue & Expenditures, Unencumbered Cash by Campus

For Period Ending March 31, 2016

FY 2016 Reserve Targets 1/Revenue/Expenditures YTD FY 2016 07/01/15

CarryforwardCash


Page 3 of 49

Last Updated: May 3, 2016File: FY16 BOR Qtrly Report - Qtr3 Final : Rev, Exp, Unenc Cash

FY 2015

Sub-FundRevenue/

AppropriationExpenditures/

Transfers Balance Cash EncumbrancesUnencumbered

Cash 2/5%

(Exec Policy)16%

(BOR Policy)


University of Hawaii - FY 2016 Quarterly Financial Report for General, Special and Revolving FundsSummary of Actual Revenue & Expenditures, Unencumbered Cash by Campus


FY 2016 Reserve Targets 1/Revenue/Expenditures YTD FY 2016 07/01/15

CarryforwardCash


Systemwide ProgramsGeneral Funds $41,542,249 $27,990,183 $13,552,066 $13,552,066 $90,368 $13,461,698 n/a n/a $11,666,303

Tuition and Fees Special Fund $7,767,702 $555,540 ($942,679) $9,265,921 $9,260,693 $3,105,618 $6,155,075 $1,988,855 $6,364,334 $4,709,148Other Special Funds $12,554,362 $4,638,415 $2,405,942 $14,786,835 $14,498,909 $1,233,287 $13,265,622 $227,291 $727,330 $12,096,835

Research and Training Revolving Fund 4/ $553,759 $16,625,483 $9,664,614 $7,514,629 $10,316,185 $1,962,818 $8,353,368 $595,025 $1,904,080 ($8,083,723)Other Revolving Funds $2,509,479 $937,822 $733,960 $2,713,341 $2,713,341 $256,989 $2,456,352 $28,259 $90,427 $2,346,210

Total, Systemwide Programs $23,385,302 $64,299,509 $39,852,021 $47,832,791 $50,341,194 $6,649,080 $43,692,114 $2,839,429 $9,086,172 $22,734,773

UH SYSTEM TOTALSGeneral Funds $437,402,339 $322,500,191 $114,902,148 $114,902,148 $164,385 $114,737,763 n/a n/a $97,041,072

Tuition and Fees Special Fund $60,886,748 $347,207,673 $215,429,867 $192,664,553 $183,814,823 $20,597,422 $163,217,401 $37,185,693 $118,994,216 $134,555,992Other Special Funds $124,930,165 $112,374,820 $158,172,181 $79,132,803 $78,252,062 $15,941,816 $62,310,246 $5,899,212 $18,877,477 $55,909,927

Research and Training Revolving Fund $22,681,684 $34,963,226 $38,541,472 $19,103,438 $22,002,452 $3,788,061 $18,214,392 $2,561,805 $8,197,776 $14,793,316Other Revolving Funds $21,879,718 $33,099,615 $21,643,799 $33,335,534 $32,745,173 $2,683,725 $30,061,448 $1,598,963 $5,116,682 $27,173,104

GRAND TOTAL, UH SYSTEM $230,378,314 $965,047,673 $756,287,511 $439,138,476 $431,716,658 $43,175,409 $388,541,250 $47,245,672 $151,186,152 $329,473,410

1/ Calculated as 5% or 16% of FY 2015 Expenditures/Transfers. (For TFSF, calculated as 5% or 16% of General Fund and TFSF Expenditures/Transfers.)2/ Operating reserves, to be compared to the FY 2016 Reserve Targets as defined by Executive/BOR policies.3/ Includes expenditures for tuition scholarships. These expenditures are covered by a transfer of cash from the TFSF in the 4th Quarter.4/ In SLH2009 & SLH2010, $5.5 million was swept by the Legislature in RTRF funds. VPRI office (Systemwide Programs) will repay this out of their allocation over a 22 year period as to not impact the campuses.

Page 4 of 49

Revenue by Campus

Page 5 of 49

Last Updated: May 3, 2016File: FY16 BOR Qtrly Report - Qtr3 Final : Bdgt-to-Act Rev

Sub-FundProjectedRevenue

Quarter 1Actual

Quarter 2Actual

Quarter 3Actual

Quarter 4Actual

ActualRevenue

% of Projected

Actual Revenue as of 03/31/15

% of Totalfor FY FY15 Total

UH MānoaTuition and Fees Special Fund (see Note) $220,169,550 $120,065,710 $80,674,113 $28,524,164 $0 $229,263,987 104% 1/ $218,335,829 102% 214,837,431 Other Special Funds $108,286,947 $40,611,001 $27,137,656 $18,930,195 $0 $86,678,852 80% $88,959,700 88% 100,532,788

Research and Training Revolving Fund $29,682,406 $7,534,373 $0 $7,521,514 $0 $15,055,888 51% 2/ $26,297,979 79% 33,134,222 Other Revolving Funds $29,440,500 $13,148,374 $9,949,138 $3,926,861 $0 $27,024,373 92% 3/ $27,319,388 103% 26,523,363

Total, UH Mānoa $387,579,403 $181,359,458 $117,760,907 $58,902,734 $0 $358,023,099 92% $360,912,897 96% 375,027,804

UH HiloTuition and Fees Special Fund (see Note) $37,308,249 $19,023,434 $15,993,979 $1,242,170 $0 $36,259,583 97% 1/ $36,654,077 98% 37,443,534 Other Special Funds $7,342,246 $3,533,291 $3,026,370 $2,216,543 $0 $8,776,204 120% 4/ $9,124,847 121% 7,565,906

Research and Training Revolving Fund $3,828,502 $936,426 $936,426 $0 $0 $1,872,851 49% 5/ $2,310,493 82% 2,830,493 Other Revolving Funds $2,330,217 $1,135,200 $834,843 $204,176 $0 $2,174,219 93% $2,032,169 93% 2,182,928

Total, UH Hilo $50,809,214 $24,628,350 $20,791,618 $3,662,888 $0 $49,082,857 97% $50,121,586 100% 50,022,861

UH West O‘ahuTuition and Fees Special Fund (see Note) $14,402,398 $7,826,311 $6,333,542 $573,094 $0 $14,732,947 102% 1/ $13,077,867 96% 13,576,921 Other Special Funds $253,105 $92,957 $39,405 $311,039 $0 $443,401 175% $540,865 89% 609,797

Research and Training Revolving Fund $140,203 $31,301 $38,801 $0 $0 $70,102 50% $83,595 56% 148,595 Other Revolving Funds $801,661 $380,213 $322,687 $117,823 $0 $820,723 102% $758,514 95% 801,988

Total, UH West O‘ahu $15,597,367 $8,330,782 $6,734,435 $1,001,956 $0 $16,067,173 103% $14,460,841 96% 15,137,300

Community CollegesTuition and Fees Special Fund (see Note) $65,139,243 $35,385,760 $27,199,559 $3,810,298 $0 $66,395,617 102% 1/ $66,044,219 99% 66,798,904 Other Special Funds $20,555,227 $5,768,039 $2,778,483 $3,291,425 $0 $11,837,948 58% 6/ $13,087,421 71% 18,556,767

Research and Training Revolving Fund $2,677,805 $656,951 $681,951 $0 $0 $1,338,903 50% 7/ $2,855,548 100% 2,855,548 Other Revolving Funds $2,044,184 $1,091,832 $571,793 $478,853 $0 $2,142,477 105% 8/ $2,094,672 89% 2,356,836

Total, Community Colleges $90,416,459 $42,902,582 $31,231,786 $7,580,576 $0 $81,714,945 90% $84,081,860 93% 90,568,055

FY 2016 Year-to-Date FY 2015

University of Hawaii - FY 2016 Quarterly Financial Report for Special and Revolving FundsRevenue by Campus


Page 6 of 49

Last Updated: May 3, 2016File: FY16 BOR Qtrly Report - Qtr3 Final : Bdgt-to-Act Rev

Sub-FundProjectedRevenue

Quarter 1Actual

Quarter 2Actual

Quarter 3Actual

Quarter 4Actual

ActualRevenue

% of Projected

Actual Revenue as of 03/31/15

% of Totalfor FY FY15 Total




Systemwide ProgramsTuition and Fees Special Fund $740,070 $287,220 $124,590 $143,730 $0 $555,540 75% $580,190 70% 824,127 Other Special Funds $2,447,950 $299,799 $509,923 $3,828,694 $0 $4,638,415 189% 9/ $5,438,867 214% 2,539,809

Research and Training Revolving Fund $13,795,779 ($4,824,275) $17,985,306 $3,464,452 $0 $16,625,483 121% 10/ $5,870,067 50% 11,854,604 Other Revolving Funds $936,700 $223,158 $210,688 $503,976 $0 $937,822 100% $538,548 35% 1,556,697

Total, Systemwide Programs $17,920,499 ($4,014,098) $18,830,507 $7,940,852 $0 $22,757,260 127% $12,427,672 74% 16,775,237

UH SYSTEM TOTALSTuition and Fees Special Fund $337,759,510 $182,588,434 $130,325,782 $34,293,456 $347,207,673 103% $334,692,183 100% $333,480,917Other Special Funds $138,885,475 $50,305,086 $33,491,838 $28,577,895 $112,374,820 81% $117,151,700 90% $129,805,067

Research and Training Revolving Fund $50,124,695 $4,334,776 $19,642,484 $10,985,967 $34,963,226 70% $37,417,682 74% $50,823,462Other Revolving Funds $35,553,262 $15,978,777 $11,889,150 $5,231,689 $33,099,615 93% $32,743,292 98% $33,421,812

GRAND TOTAL, UH SYSTEM $562,322,942 $253,207,073 $195,349,253 $79,089,007 $0 $527,645,334 94% $522,004,857 95% 547,531,257

NOTE:Tuition and Fees SF Revenue is recognized primarily in Quarter 1 (Summer and Fall sessions) and Quarter 2 (Spring session) in accordance with student registration deadlines. Most (if not all) of Quarter 4 TFSF revenue will be attributed to FY 2017 academic sessions. Adjustments to reverse out this future FY revenue are processed during the FY 2016 "13th month" accounting period. This revenue will then be reported as FY 2017 revenue in Quarter 1.This also applies to certain Other Special and Other Revolving Funds (Student Housing, Student Activities fees, etc.).

Page 7 of 49

Last Updated: May 3, 2016File: FY16 BOR Qtrly Report - Qtr3 Final : Footnotes - Revenue

GENERAL FOOTNOTES:

1/Tuition and Fees SF Revenue is recognized primarily in Quarter 1 (Summer and Fall sessions) and Quarter 2 (Spring session) in accordance with student registration deadlines.

MANOA FOOTNOTES:

2/RTRF revenue recording for Manoa is one quarter behind. Quarter 2 was recorded late and appears in Quarter 3. Quarter 3 also was not recorded in time and should appear in quarter 4.

3/Student Activities RF and Student Health Center RF contain student fees assessed when students register and are recognized primarily in Quarter 1 and Quarter 2 (for fall semester) and Quarters 2 and 3 (for spring semester).

HILO FOOTNOTES:

4/Housing Revenue is recognized primarily in Quarter 1 (Fall session) and Quarter 2 (Spring session) in accordance with student housing deadlines. Also, Student Housing begin recording revenue for Fall 2016 in Quarter 3, but it will be reversed and reported as deferred revenue in Quarter 4.

5/RTRF revenues were not recorded in Quarter 3. Quarter 3's revenue distribution from the Office of the Vice President for Research and Innovation was recorded on April 1, 2016 and will appear as part of Quarter 4's revenue collections.

WEST OAHU FOOTNOTES:Not applicable.

COMMUNITY COLLEGE FOOTNOTES:

6/Revenue decrease due to lower than anticipated demand for non-credit offerings by the public. The level of activity and timing of payments for the various programs that comprise the Community College Special Fund vary from year to year.

7/RTRF revenues were not recorded in Quarter 3. Quarter 3's revenue distribution from the office of the Vice President for Research and Innovation was recorded on April 1, 2016 and should appear as part of Quarter 4's revenue collections.

8/

Revenues reflected in Other Revolving Funds are related to the Student Activities RF and Conference Center RF. Revenue for the Student Activities RF is 98.8% of prior year revenue for the first three quarters of the fiscal year. Revenue for the Conference Center RF is 117.0% of the prior year revenue for the first three quarters of the fiscal year. The timing of conference center revenue may vary from year to year depending on the number of conferences, date of conference, number of attendees, or other conference requirements and is not always proportionate to the months of the fiscal year that have elapsed.

SYSTEMWIDE PROGRAMS FOOTNOTES:

9/Timing of the transfer of the Build America Bonds distribution did not occur in the same quarter as the recognized revenue. The rise in third quarter revenue is also due to an ITS contract payment received once every five years.

10/ Timing issue that RTRF revenues were realized, but the transfers to the campuses did not record in the same quarter.

Current Criteria for Footnotes:1) "% of Projected" (YTD Actual compared to annual budget) is less than 65% or greater than 85%. (Assumes that approximately 75% of budget should

be used at the end of Quarter 3.) And,2) Dollar amount of variance (YTD Actual versus 75% of budget) is greater than $500,000.


For Period Ending March 31, 2016Footnotes

Page 8 of 49

Expenditures/Transfers by Campus

Page 9 of 49

Last Updated: May 3, 2016File: FY16 BOR Qtrly Report - Qtr3 Final : Bdgt-to-Act Exp_Trf

ProjectedExpenditures/

TransfersQuarter 1

ActualQuarter 2

ActualQuarter 3

ActualQuarter 4

Actual

ActualExpenditures/

Transfers% of

Projected

Actual Expend/Trfs

as of 03/31/15% of Total

for FY FY15 Total

UH MānoaGeneral Funds

Personnel Expenditures $218,861,293 $52,666,924 $58,136,320 $59,694,728 $170,497,971 78% $161,207,383 78% $206,261,830Other Current Expenditures $4,145,748 $83,844 $472,475 $215,986 $772,305 19% 1/ $22,888 1% $3,642,204Expenditures, General Funds $223,007,041 $52,750,768 $58,608,795 $59,910,714 $0 $171,270,276 77% $161,230,271 77% $209,904,034

Tuition and Fees Special FundPersonnel Expenditures $93,661,028 $24,930,640 $19,068,476 $17,369,348 $61,368,464 66% $74,195,536 73% $101,468,229Other Current Expenditures $81,212,644 $20,619,013 $18,477,179 $21,525,450 $60,621,642 75% $63,044,815 85% $74,145,714Transfers $44,041,148 $2,092,411 $5,156,876 $3,369,820 $10,619,107 24% 2/ $8,310,808 20% $42,058,776Expenditures/Transfers, TFSF $218,914,821 $47,642,063 $42,702,531 $42,264,618 $0 $132,609,213 61% $145,551,159 67% $217,672,719

Other Special FundsPersonnel Expenditures $43,220,322 $10,392,031 $10,248,945 $9,986,138 $30,627,115 71% $29,538,276 73% $40,199,568Other Current Expenditures $107,204,603 $31,159,525 $20,997,278 $33,586,861 $85,743,663 80% $65,643,312 80% $81,657,277Transfers ($43,475,848) $15,437,510 ($5,621,248) $4,696,771 $14,513,032 -33% 3/ $15,987,833 -49% ($32,468,001)Expenditures/Transfers, Other Special Funds $106,949,077 $56,989,066 $25,624,975 $48,269,770 $0 $130,883,811 122% $111,169,421 124% $89,388,844

Research and Training Revolving FundPersonnel Expenditures $5,443,698 $2,600,623 $2,231,638 $2,123,915 $6,956,176 128% 4/ $8,544,144 68% $12,574,503Other Current Expenditures $25,998,725 $4,665,179 $5,424,887 $4,570,126 $14,660,192 56% 5/ $13,235,788 68% $19,591,792Transfers ($54,021) $1,448,123 ($5,457) $1,166,755 $2,609,421 -4830% 6/ $2,049,317 87% $2,363,526Expenditures/Transfers, RTRF $31,388,402 $8,713,925 $7,651,067 $7,860,796 $0 $24,225,788 77% $23,829,249 69% $34,529,822

Other Revolving FundsPersonnel Expenditures $7,838,857 $1,911,484 $1,890,788 $1,818,510 $5,620,782 72% $5,794,897 75% $7,746,214Other Current Expenditures $20,068,858 $3,376,124 $4,159,477 $4,135,700 $11,671,300 58% 7/ $13,150,016 72% $18,355,647Transfers $0 $23,517 ($6,749) ($31,142) ($14,374) budget=0 $176,000 151% $116,505Expenditures/Transfers, Other Revolving Funds $27,907,714 $5,311,124 $6,043,516 $5,923,068 $0 $17,277,708 62% $19,120,913 73% $26,218,366

Total, UH MānoaPersonnel Expenditures $369,025,197 $92,501,702 $91,576,166 $90,992,639 $0 $275,070,507 75% $279,280,236 76% $368,250,344Other Current Expenditures $238,630,578 $59,903,684 $49,531,296 $64,034,123 $0 $173,469,102 73% $155,096,819 79% $197,392,634Transfers $511,280 $19,001,561 ($476,578) $9,202,203 $0 $27,727,186 5423% $26,523,958 220% $12,070,805Total Expenditures/Transfers $608,167,055 $171,406,946 $140,630,884 $164,228,965 $0 $476,266,796 78% $460,901,012 80% $577,713,784

Sub-Fund


University of Hawaii - FY 2016 Quarterly Financial Report for General, Special and Revolving FundsExpenditures/Transfers by CampusFor Period Ending March 31, 2016

Page 10 of 49



TransfersQuarter 1

ActualQuarter 2

ActualQuarter 3

ActualQuarter 4

Actual

ActualExpenditures/

Transfers% of

Projected

Actual Expend/Trfs


for FY FY15 TotalSub-Fund



UH HiloGeneral Funds

Personnel Expenditures $32,767,944 $7,683,052 $7,989,413 $7,938,754 $23,611,219 72% $23,361,975 76% $30,895,008Other Current Expenditures $137,021 $826 $6,580 $51,329 $58,735 43% $861,729 88% $980,093Expenditures, General Funds $32,904,965 $7,683,879 $7,995,992 $7,990,083 $0 $23,669,953 72% $24,223,704 76% $31,875,102

Tuition and Fees Special FundPersonnel Expenditures $13,442,979 $3,331,718 $3,432,845 $3,386,845 $10,151,408 76% $10,361,779 75% $13,751,442Other Current Expenditures $21,250,007 $3,405,509 $3,852,838 $3,201,504 $10,459,851 49% 8/ $11,041,856 74% $14,840,584Transfers $9,158,360 $261,607 $1,081,113 $204,577 $1,547,297 17% 9/ $1,630,154 19% $8,753,357Expenditures/Transfers, TFSF $43,851,346 $6,998,834 $8,366,795 $6,792,926 $0 $22,158,556 51% $23,033,789 62% $37,345,383

Other Special FundsPersonnel Expenditures $1,618,693 $473,480 $515,040 $419,473 $1,407,994 87% $1,278,878 71% $1,807,231Other Current Expenditures $11,792,758 $3,352,811 $1,939,936 $4,689,631 $9,982,378 85% $10,370,939 88% $11,723,685Transfers ($5,951,541) $707,255 ($134,040) $441,358 $1,014,574 -17% 10/ $943,729 -16% ($6,007,867)Expenditures/Transfers, Other Special Funds $7,459,910 $4,533,546 $2,320,936 $5,550,462 $0 $12,404,945 166% $12,593,547 167% $7,523,048

Research and Training Revolving FundPersonnel Expenditures $295,100 $90,919 $65,293 $83,770 $239,981 81% $116,795 74% $158,678Other Current Expenditures $4,315,218 $1,255,245 $1,730,138 $148,235 $3,133,618 73% $3,189,018 98% $3,261,950Transfers ($401,308) ($7,500) ($101,543) ($7,778) ($116,821) 29% ($173,034) 48% ($359,649)Expenditures/Transfers, RTRF $4,209,010 $1,338,663 $1,693,889 $224,226 $0 $3,256,778 77% $3,132,779 102% $3,060,979

Other Revolving FundsPersonnel Expenditures $1,152,125 $265,341 $282,739 $266,472 $814,552 71% $759,629 73% $1,034,128Other Current Expenditures $1,011,480 $163,441 $294,011 $261,920 $719,372 71% $871,932 62% $1,416,435Transfers $0 ($0) $0 $0 ($0) budget=0 $237 -13% ($1,828)Expenditures/Transfers, Other Revolving Funds $2,163,605 $428,783 $576,750 $528,392 $0 $1,533,924 71% $1,631,799 67% $2,448,735

Total, UH HiloPersonnel Expenditures $49,276,841 $11,844,510 $12,285,329 $12,095,314 $0 $36,225,153 74% $35,879,056 75% $47,646,488Other Current Expenditures $38,506,484 $8,177,832 $7,823,503 $8,352,618 $0 $24,353,954 63% $26,335,475 82% $32,222,747Transfers $2,805,511 $961,363 $845,530 $638,157 $0 $2,445,050 87% $2,401,085 101% $2,384,013Total Expenditures/Transfers $90,588,836 $20,983,705 $20,954,362 $21,086,089 $0 $63,024,156 70% $64,615,617 79% $82,253,247

Page 11 of 49



TransfersQuarter 1

ActualQuarter 2

ActualQuarter 3

ActualQuarter 4

Actual

ActualExpenditures/

Transfers% of

Projected

Actual Expend/Trfs





UH West O‘ahuGeneral Funds

Personnel Expenditures $14,166,407 $3,380,174 $4,036,220 $3,165,265 $10,581,660 75% $8,858,807 69% $12,814,289Other Current Expenditures $143,874 $7,794 $6,734 $5,254 $19,781 14% $78,177 11% $714,189Expenditures, General Funds $14,310,281 $3,387,968 $4,042,954 $3,170,519 $0 $10,601,441 74% $8,936,984 66% $13,528,478

Tuition and Fees Special FundPersonnel Expenditures $3,063,519 $774,333 $645,263 $1,607,267 $3,026,863 99% 11/ $2,396,014 104% $2,310,662Other Current Expenditures $5,725,680 $638,719 $757,955 $1,077,833 $2,474,506 43% 12/ $1,917,307 85% $2,246,065Transfers $7,058,414 $2,906,604 $1,738,967 $1,382,248 $6,027,819 85% $4,239,556 95% $4,455,287Expenditures/Transfers, TFSF $15,847,613 $4,319,656 $3,142,185 $4,067,348 $0 $11,529,189 73% $8,552,877 95% $9,012,014

Other Special FundsPersonnel Expenditures $31,432 $4,390 $154 $7,357 $11,900 38% $1,636 100% $1,636Other Current Expenditures $2,881,000 $1,021,117 $247,995 $1,139,236 $2,408,348 84% $1,198,222 93% $1,284,236Transfers ($2,406,000) $259 ($1,500,000) ($906,901) ($2,406,642) 100% 13/ ($729,757) 82% ($892,988)Expenditures/Transfers, Other Special Funds $506,432 $1,025,766 ($1,251,851) $239,691 $0 $13,606 3% $470,102 120% $392,885

Research and Training Revolving FundPersonnel Expenditures $0 $33 $83 $101 $217 budget=0 $62 69% $90Other Current Expenditures $163,528 $18,188 $12,700 $33,618 $64,506 39% $16,328 27% $61,552Transfers ($40) $0 $0 ($40) ($40) 100% ($1,089) -18% $5,903Expenditures/Transfers, RTRF $163,488 $18,221 $12,783 $33,680 $0 $64,683 40% $15,301 23% $67,544

Other Revolving FundsPersonnel Expenditures $311,254 $35,849 $61,202 $53,514 $150,566 48% $131,849 72% $183,281Other Current Expenditures $755,878 $45,362 $64,552 $67,568 $177,482 23% $176,752 63% $278,866Transfers $0 $0 $0 $0 $0 budget=0 ($45,089) $29,911Expenditures/Transfers, Other Revolving Funds $1,067,132 $81,211 $125,754 $121,082 $0 $328,047 31% $263,513 54% $492,058

Total, UH West O‘ahuPersonnel Expenditures $17,572,612 $4,194,779 $4,742,922 $4,833,505 $0 $13,771,207 78% $11,388,368 74% $15,309,959Other Current Expenditures $9,669,960 $1,731,179 $1,089,936 $2,323,509 $0 $5,144,624 53% $3,386,787 74% $4,584,908Transfers $4,652,374 $2,906,863 $238,967 $475,306 $0 $3,621,137 78% $3,463,621 96% $3,598,113Total Expenditures/Transfers $31,894,946 $8,832,821 $6,071,825 $7,632,321 $0 $22,536,967 71% $18,238,776 78% $23,492,980

Page 12 of 49



TransfersQuarter 1

ActualQuarter 2

ActualQuarter 3

ActualQuarter 4

Actual

ActualExpenditures/

Transfers% of

Projected

Actual Expend/Trfs





Community CollegesGeneral Funds

Personnel Expenditures $124,203,392 $25,550,575 $31,210,560 $31,542,450 $88,303,585 71% $88,889,424 76% $117,392,902Other Current Expenditures $1,434,411 $265,977 $218,451 $180,325 $664,752 46% $308,834 23% $1,339,812Expenditures, General Funds $125,637,803 $25,816,552 $31,429,010 $31,722,774 $0 $88,968,336 71% $89,198,258 75% $118,732,714

Tuition and Fees Special FundPersonnel Expenditures $21,383,689 $5,705,580 $6,273,746 $6,022,189 $18,001,516 84% $17,544,911 71% $24,651,267Other Current Expenditures $44,658,435 $11,358,444 $6,595,587 $9,705,719 $27,659,751 62% 14/ $27,472,253 80% $34,489,687Transfers $5,319,874 $10,250 $3,011,548 $1,392,526 $4,414,323 83% $3,426,070 51% $6,725,365Expenditures/Transfers, TFSF $71,361,998 $17,074,275 $15,880,881 $17,120,434 $0 $50,075,589 70% $48,443,234 74% $65,866,318

Other Special FundsPersonnel Expenditures $10,350,244 $4,033,723 $1,826,979 $1,690,949 $7,551,651 73% $7,975,084 80% $10,023,689Other Current Expenditures $9,441,723 $1,485,097 $1,479,033 $1,340,046 $4,304,175 46% 15/ $5,336,213 75% $7,083,955Transfers $589,609 $2,090,131 ($292,480) ($1,189,600) $608,051 103% ($11,870) 1% ($973,999)Expenditures/Transfers, Other Special Funds $20,381,576 $7,608,951 $3,013,532 $1,841,395 $0 $12,463,877 61% $13,299,427 82% $16,133,644

Research and Training Revolving FundPersonnel Expenditures $1,360,700 $240,106 $246,547 $474,955 $961,607 71% $500,558 67% $749,191Other Current Expenditures $1,675,482 $295,452 $193,400 ($91,311) $397,542 24% 16/ $699,440 70% $1,004,358Transfers ($33,940) $0 $0 ($29,540) ($29,540) 87% ($68,003) 89% ($76,296)Expenditures/Transfers, RTRF $3,002,242 $535,558 $439,947 $354,103 $0 $1,329,609 44% $1,131,994 67% $1,677,253

Other Revolving FundsPersonnel Expenditures $609,199 $157,784 $182,346 $163,140 $503,270 83% $461,077 75% $612,814Other Current Expenditures $1,592,938 $390,660 $289,193 $584,916 $1,264,770 79% $1,240,284 76% $1,642,148Transfers $0 $0 $2,023 $96 $2,119 budget=0 $0 0% ($31)Expenditures/Transfers, Other Revolving Funds $2,202,137 $548,444 $473,563 $748,152 $0 $1,770,159 80% $1,701,361 75% $2,254,931

Total, Community CollegesPersonnel Expenditures $157,907,224 $35,687,768 $39,740,177 $39,893,683 $0 $115,321,628 73% $115,371,053 75% $153,429,863Other Current Expenditures $58,802,989 $13,795,631 $8,775,665 $11,719,694 $0 $34,290,990 58% $35,057,023 77% $45,559,960Transfers $5,875,543 $2,100,381 $2,721,091 $173,481 $0 $4,994,953 85% $3,346,197 59% $5,675,038Total Expenditures/Transfers $222,585,756 $51,583,780 $51,236,933 $51,786,858 $0 $154,607,571 69% $153,774,274 75% $204,664,861

Page 13 of 49



TransfersQuarter 1

ActualQuarter 2

ActualQuarter 3

ActualQuarter 4

Actual

ActualExpenditures/

Transfers% of

Projected

Actual Expend/Trfs





Systemwide Programs

General FundsPersonnel Expenditures $34,350,382 $8,271,850 $8,261,402 $7,387,941 $23,921,192 70% $23,184,849 75% $31,062,435Other Current Expenditures $4,191,867 $254,290 $1,575,200 $739,501 $2,568,991 61% 17/ $2,314,581 46% $5,045,894Transfers (B+ Scholarships) $3,000,000 $0 $1,500,000 $0 $1,500,000 50% 18/ $1,500,000 50% $3,000,000Expenditures/Transfers, General Funds $41,542,249 $8,526,139 $11,336,602 $8,127,442 $0 $27,990,183 67% $26,999,430 69% $39,108,329

Tuition and Fees Special FundPersonnel Expenditures $2,745,776 $222,719 $220,954 $1,047,091 $1,490,764 54% 19/ $1,133,394 78% $1,447,582Other Current Expenditures $8,548,578 $1,092,996 $2,329,745 $3,072,979 $6,495,720 76% $7,637,374 98% $7,808,659Transfers ($8,934,437) ($233,813) ($5,757,031) ($2,938,318) ($8,929,162) 100% 20/ ($8,589,441) 100% ($8,587,480)Expenditures/Transfers, TFSF $2,359,917 $1,081,902 ($3,206,332) $1,181,752 $0 ($942,679) -40% $181,327 27% $668,761

Other Special FundsPersonnel Expenditures $568,645 $132,778 $131,108 $133,313 $397,199 70% $415,968 79% $529,271Other Current Expenditures $7,313,186 $2,414,206 $1,383,048 $2,451,131 $6,248,385 85% $6,430,848 86% $7,444,723Transfers ($4,946,734) ($250,607) ($3,434,994) ($554,040) ($4,239,641) 86% 21/ ($2,296,433) 67% ($3,428,181)Expenditures/Transfers, Other Special Funds $2,935,097 $2,296,377 ($1,920,838) $2,030,404 $0 $2,405,942 82% $4,550,382 100% $4,545,813

Research and Training Revolving FundPersonnel Expenditures $5,324,090 $1,255,810 $1,285,466 $1,277,316 $3,818,592 72% $3,838,047 64% $5,957,836Other Current Expenditures $9,735,679 $2,943,445 $1,420,009 $1,954,960 $6,318,415 65% $5,152,648 89% $5,800,829Transfers $489,309 ($124,175) $107,500 ($455,717) ($472,392) -97% 22/ ($24,606) -17% $141,837Expenditures/Transfers, RTRF $15,549,078 $4,075,080 $2,812,975 $2,776,559 $0 $9,664,614 62% $8,966,089 75% $11,900,502

Other Revolving FundsPersonnel Expenditures $352,461 $65,498 $68,068 $66,439 $200,005 57% $199,284 75% $266,152Other Current Expenditures $725,904 $109,478 $204,745 $181,986 $496,209 68% $53,391 9% $613,993Transfers $34,701 ($154) $6,757 $31,143 $37,746 109% $268,347 -85% ($314,975)Expenditures/Transfers, Other Revolving Funds $1,113,066 $174,822 $279,570 $279,568 $0 $733,960 66% $521,022 92% $565,170

Total, Systemwide ProgramsPersonnel Expenditures $43,341,354 $9,948,654 $9,966,997 $9,912,100 $0 $29,827,751 69% $28,771,542 73% $39,263,276Other Current Expenditures $30,515,214 $6,814,414 $6,912,747 $8,400,557 $0 $22,127,719 73% $21,588,841 81% $26,714,098Transfers ($10,357,161) ($608,749) ($7,577,768) ($3,916,933) $0 ($12,103,450) 117% ($9,142,134) 99% ($9,188,799)Total Expenditures/Transfers $63,499,406 $16,154,319 $9,301,976 $14,395,725 $0 $39,852,021 63% $41,218,249 73% $56,788,575

Page 14 of 49



TransfersQuarter 1

ActualQuarter 2

ActualQuarter 3

ActualQuarter 4

Actual

ActualExpenditures/

Transfers% of

Projected

Actual Expend/Trfs





UH SYSTEM TOTALSGeneral Funds

Personnel Expenditures $424,349,418 $97,552,576 $109,633,914 $109,729,137 $316,915,627 75% $305,502,438 77% $398,426,465Other Current Expenditures (including trfs for B+) $13,052,921 $612,730 $3,779,439 $1,192,394 $5,584,564 43% $5,086,209 35% $14,722,193Expenditures/Transfers, General Funds $437,402,339 $98,165,306 $113,413,354 $110,921,532 $0 $322,500,191 74% $310,588,647 75% $413,148,657

Tuition and Fees Special FundPersonnel Expenditures $134,296,991 $34,964,990 $29,641,283 $29,432,741 $94,039,014 70% $105,631,634 74% $143,629,183Other Current Expenditures $161,395,344 $37,114,680 $32,013,304 $38,583,485 $107,711,470 67% $111,113,604 83% $133,530,709Transfers $56,643,360 $5,037,059 $5,231,472 $3,410,852 $13,679,384 24% $9,017,146 17% $53,405,304Expenditures/Transfers, TFSF $352,335,695 $77,116,729 $66,886,060 $71,427,078 $0 $215,429,867 61% $225,762,385 68% $330,565,195

Other Special FundsPersonnel Expenditures $55,789,336 $15,036,402 $12,722,225 $12,237,231 $39,995,858 72% $39,209,842 75% $52,561,395Other Current Expenditures $138,633,270 $39,432,756 $26,047,290 $43,206,904 $108,686,950 78% $88,979,534 81% $109,193,876Transfers ($56,190,514) $17,984,548 ($10,982,761) $2,487,587 $9,489,374 -17% $13,893,502 -32% ($43,771,037)Expenditures/Transfers, Other Special Funds $138,232,092 $72,453,706 $27,786,754 $57,931,722 $0 $158,172,181 114% $142,082,879 120% $117,984,234

Research and Training Revolving FundPersonnel Expenditures $12,423,587 $4,187,490 $3,829,026 $3,960,057 $11,976,573 96% $12,999,605 67% $19,440,299Other Current Expenditures $41,888,632 $9,177,509 $8,781,135 $6,615,628 $24,574,272 59% $22,293,222 75% $29,720,481Transfers $0 $1,316,447 $500 $673,680 $1,990,627 budget=0 $1,782,585 86% $2,075,320Expenditures/Transfers, RTRF $54,312,219 $14,681,446 $12,610,661 $11,249,365 $0 $38,541,472 71% $37,075,412 72% $51,236,100

Other Revolving FundsPersonnel Expenditures $10,263,896 $2,435,955 $2,485,143 $2,368,076 $7,289,174 71% $7,346,735 75% $9,842,588Other Current Expenditures $24,155,057 $4,085,065 $5,011,978 $5,232,090 $14,329,133 59% $15,492,377 69% $22,307,089Transfers $34,701 $23,363 $2,031 $97 $25,491 73% $399,495 -234% ($170,417)Expenditures/Transfers, Other Revolving Funds $34,453,654 $6,544,384 $7,499,153 $7,600,262 $0 $21,643,799 63% $23,238,607 73% $31,979,260

GRAND TOTAL, UH SYSTEMPersonnel Expenditures $637,123,228 $154,177,413 $158,311,592 $157,727,242 $0 $470,216,247 74% $470,690,255 75% $623,899,930Other Current Expenditures $379,125,224 $90,422,740 $75,633,146 $94,830,502 $0 $260,886,388 69% $242,964,945 79% $309,474,348Transfers $487,547 $24,361,418 ($5,748,758) $6,572,215 $0 $25,184,876 5166% $25,092,728 217% $11,539,170Total Expenditures/Transfers $1,016,735,999 $268,961,571 $228,195,981 $259,129,959 $0 $756,287,511 74% $738,747,929 78% $944,913,448

Page 15 of 49

Last Updated: May 3, 2016File: FY16 BOR Qtrly Report - Qtr3 Final : Footnotes - Exp_Trf

GENERAL FOOTNOTES:

MANOA FOOTNOTES:

1/Other expenditures on general funds (typically utilities) will be paid during Quarter 4 as a means to balance the general fund appropriation. The other portion of other expenditures are performance funding expenditures for the current fiscal year.

2/The largest transfer in TFSF is the transfer to the Scholarship & Assistance SF (Other Special Funds). This typically happens toward the ending of the fiscal year after cash for the current year tuition is transferred from the system tuition account.

3/Transfers budgets for Other Special Funds are primarily the transfers-in from TFSF to the Scholarship and Assistance SF, and transfers-in from the State to the Cancer Center SF. Other transfers-out include debt service amounts in Revenue Undertakings SF. The variance is due to the timing of receiving the transfers-in. The transfer to the Scholarship and Assistance SF typically happens towards the end of the fiscal year.

4/At the time RTRF is allocated to the units, funds are initially budgeted as "Other Current Expenditures". Units may then redistribute their budgets between Personnel and Other Current Expenditures. Variances are due to timing of when these budget adjustments are made.

5/Since budgets were not updated to reflect the distribution between Personnel and Other costs, there is a variance in Other Current Expenditures. Some of the budget on this line should be move to the Personnel line which is currently showing a 128% expended rate.

6/RTRF transfers include transfers for debt service. Majority of the debt service transfers are done in the first quarter and a few are done towards the end of the year. A budget entry for these transfers was not entered into the system in a timely manner.

7/Projections for University Health Systems were set higher with the assumption of certain renovations happening this year but there were delays in the design process that will cause the expenditure to be delayed; and thus the unit is planning to adjust the expenditure budget in quarter 4. There are other expenditures in Student Activity RF that were expected to occur in earlier quarters but are currently delayed and may be recorded in quarter 4 thus causing a lag in actual expenditures.

HILO FOOTNOTES:

8/Projected expenditures include Capital Renewal and Deferred Maintenance projects, some of which will be deferred to FY 2017. Also, planned expenditures for the Daniel K. Inouye College of Pharmacy will not be incurred in order to set aside funds to furnish their new building.

9/ Transfers to Student Scholarship and Assistance Special Fund and University Revenue-Undertaking Fund will be recorded in quarter 4.10/ Transfers from the Tuition and Fees Special funds to the Student Scholarship and Assistance Special Fund and University Revenue-Undertaking Fund will be recorded in quarter 4.

WEST OAHU FOOTNOTES:11/ Increase in casual hire and student help expenditures mainly in Student Services division to provide additional services to students.12/ Increase in expenditures expected in Qtrs. 3 and 4 as R&M, IT, and marketing projects are awarded and campus initiatives are implemented.

13/Timing issue on the posting of the 4/1/16 Debt Service payment. Posting will occur in Qtr 4, and final transfer-in for Scholarships will also occur in Qtr 4. Net of these transfers will result in a minimal change.

COMMUNITY COLLEGE FOOTNOTES:

14/ Other Current Expense projection is slightly high, equipment relacement expenditures are planned for the fourth quarter. Actual expenditures are on par with FY2015 and are only 0.7% higher than FY2015 through the first three quarters of the fiscal year.

15/ Expenditure decrease due to lower than anticipated demand for non-credit offerings by the public. The level of activity and timing of payments for the various programs that comprise the Community College Special Fund vary from year to year.

16/ RTRF funds budgeted for utilities expenses were not used due to decrease in total electricity expenses paid for the first three quarters of the fiscal year.

SYSTEMWIDE PROGRAMS FOOTNOTES:

17/Large contract payments, annual membership renewals and WICHE Scholarships occur later in the fiscal year. As compared with the same period last year, the overall rise in General Fund expenditures is primarily due to the addition of new Systemwide programs such as the Office of Institutional Equity, Office of Sustainability and Native Hawaiian Initiatives.

18/ The $3 million in appropriated General Funds for the B Plus Scholarship Program is transferred in two installments to the B Plus Scholarship Special Fund in December and June.19/ Payroll expenses to NTFSF Fiscal Services, NTFSF Vice President for Research and Innovation, and Banner accounts will occur later in the fiscal year for budgeting purposes.

20/ The UH Foundation and Banner assessments occur in Quarter 2. Together, both assessments represent the majority of the total projected TFSF transfers. This year, an additional assessment was imposed on the campuses to purchase and implement a systemwide project management software.

21/ There are two significant transfers that occur during Quarter 2 in Other Special Funds: the Risk Management assessment and a partial transfer of the B Plus Scholarship funds to the campuses. Together, both assessments represent the majority of the total projected Other Special Funds transfers.

22/ Timing issue that the transfers to the Systemwide programs did not record in Quarter 3.

Current Criteria for Footnotes:1) "% of Projected" (YTD Actual compared to annual budget) is less than 65% or greater than 85%. (Assumes that approximately 75% of budget should be used at the end of Quarter 3.) And,2) Dollar amount of variance (YTD Actual versus 75% of budget) is greater than $500,000.


Footnotes

Page 16 of 49

Definitions

Page 17 of 49

Last Updated: April 6, 2016File: FY16 BOR Qtrly Report - Qtr3 Final : Definitions

FY 2016 Actual Revenue & Expenditures, Unencumbered Cash by Campus

Carryforward Cash [Claim-on-Cash (object code 8100)] - [Prior Year Deferred Revenue]

Revenue/Appropriation

Expenditures/Transfers YTD Expenditures +/- YTD Transfers

Balance [Carryforward Cash] + [Revenue/Appropriation] - [Expenditures/Transfers]

Cash

Encumbrances Encumbrances at end of quarter

Unencumbered Cash [Cash] - [Encumbrances]

FY 2016 Budget-to-Actual Revenue by Campus

Projected Revenue Revenue Budgets for Current FY Includes Prior Year Deferred Revenue

Quarter x Actual

FY 2016 Budget-to-Actual Expenditures/Transfers by Campus

Projected Expenditures/Transfers Includes projected liquidation of Encumbrances

Quarter x Actual Includes liquidation of EncumbrancesYTD ExpendituresYTD Transfers

Expenditure and Transfer Budgets Projected Expenditures/Transfers during the FY

Prior Year Deferred Revenue is included in YTD Revenue Recognized

Quarterly Financial Report: Definitions

General Funds = Allocation (current A-19)Special and Revolving Funds = YTD Revenue Recognized

For TFSF: 16% of Prior Year G-Fund and TFSF Expenditures/TransfersOther Special & Revolving Funds: 16% of Prior Year Expenditures/Transfers

Revenue RecognizedQuarter 1 includes Prior Year Deferred RevenueQuarter 4 includes FP13 adjustments to exclude 06/30 Deferred Revenue and Future Year Accounts Receivable

For TFSF: 5% of Prior Year G-Fund and TFSF Expenditures/TransfersOther Special & Revolving Funds: 5% of Prior Year Expenditures/Transfers

FY 2016 Reserve Targets5% (Exec Policy)

FY 2016 Reserve Targets16% (BOR Policy)

Claim-on-Cash (object code 8100) at end of quarters 1-3Claim-on-Cash - 06/30 Deferred Revenue at end of FY

Page 18 of 49

Net Operating Income Reports by Campus

Page 19 of 49

Last Updated: May 6, 2016File: FY16 BOR Qtrly Report_NOI - Qtr3 Final : UHM GF

Projection Quarter 1% of

Annual Quarter 2% of


Annual Quarter 4 Year-to-Date%

Variance

General Funds Revenue

Projection $219,617,318 $219,617,318 100% 0% 0% $219,617,318 Allocation $215,711,521 98% $4,798,213 2% $2,497,307 1% $223,007,041 Variance ($3,905,797) -2% $4,798,213 2% $2,497,307 1% $3,389,723 1.54% 1/

General Funds Expenditures

PersonnelProjection $219,617,318 $56,699,614 26% $57,407,305 26% $56,736,181 26% $170,843,100Actual

Regular Employee Payroll $52,661,562 $58,130,259 $59,687,225 $170,479,046Non-Regular Employee Payroll $0 $0 $0 $0Lecturer Payroll $0 $0 $0 $0Student Help Payroll $5,362 $6,061 $7,503 $18,925

Actual Expenditures: $52,666,924 24% $58,136,320 26% $59,694,728 27% $170,497,971Variance ($4,032,689) -2% $729,014 0% $2,958,547 1% ($345,129) -0.20%

Other Current Expenditures Projection $0 $0 $0 $0 $0 Actual

Utilities $0 $0 $0 $0Other $83,844 $472,475 $215,986 $772,305

Actual Expenditures: $83,844 n/a $472,475 n/a $215,986 n/a $772,305 Variance $83,844 n/a $472,475 n/a $215,986 n/a $772,305 budget=0 2/

Expenditures, General Funds Projection $219,617,318 $56,699,614 26% $57,407,305 26% $56,736,181 26% $170,843,100 Actual $52,750,768 24% $58,608,795 27% $59,910,714 27% $171,270,276 Variance ($3,948,846) -2% $1,201,489 1% $3,174,533 1% $427,177 0.25%

Net Operating Income (Revenue - Expenditures/Transfers) $162,960,753 ($53,810,582) ($57,413,407) $51,736,765

University of Hawaii - FY 2016 Quarterly Financial Report: Net Operating IncomeUH Manoa: General Funds


FY 2016 Year-to-Date

Page 20 of 49

Last Updated: May 6, 2016File: FY16 BOR Qtrly Report_NOI - Qtr3 Final : UHM TFSF





Variance

Tuition and Fees SF Revenue

Projection $224,055,873 $117,618,737 52% $83,572,241 37% $24,845,336 11% $226,036,315 Actual $120,065,710 54% $80,674,113 36% $28,524,164 13% $229,263,987 Variance $2,446,973 1% ($2,898,129) -1% $3,678,828 2% $3,227,672 1.43%

Tuition and Fees SF Expenditures/Transfers


Regular Employee Payroll $21,301,264 $14,457,617 $13,090,965 $48,849,846Non-Regular Employee Payroll $364,962 $333,234 $319,866 $1,018,061Lecturer Payroll $1,904,909 $2,875,467 $2,734,737 $7,515,113Student Help Payroll $1,359,505 $1,402,158 $1,223,780 $3,985,442

Actual Expenditures: $24,930,640 25% $19,068,476 19% $17,369,348 18% $61,368,464Variance ($2,758,845) -3% ($3,506,142) -4% ($4,257,380) -4% ($10,522,368) -14.64% 3/

Other Current ExpendituresProjection $77,758,934 $19,529,269 25% $21,265,717 27% $21,539,872 28% $62,334,857Actual

Utilities $11,102,387 $5,991,087 $5,049,362 $22,142,836Other $9,516,625 $12,486,092 $16,476,089 $38,478,806

Actual Expenditures: $20,619,013 27% $18,477,179 24% $21,525,450 28% $60,621,642Variance $1,089,744 1% ($2,788,538) -4% ($14,421) 0% ($1,713,215) -2.75%

TransfersProjection $42,488,685 $899,211 2% $4,513,453 11% $2,566,954 6% $7,979,619Actual $2,092,411 5% $5,156,876 12% $3,369,820 8% $10,619,107Variance $1,193,200 3% $643,423 2% $802,866 2% $2,639,489 33.08% 4/

Expenditures, TFSF Projection $218,914,478 $48,117,964 22% $48,353,788 22% $45,733,554 21% $142,205,307 Actual $47,642,063 22% $42,702,531 20% $42,264,618 19% $132,609,213 Variance ($475,901) 0% ($5,651,257) -3% ($3,468,936) -2% ($9,596,094) -6.75%

Net Operating Income (Revenue - Expenditures/Transfers) $72,423,647 $37,971,581 ($13,740,454) $96,654,774

University of Hawaii - FY 2016 Quarterly Financial Report: Net Operating IncomeUH Manoa: Tuition and Fees SF



Page 21 of 49

Last Updated: May 6, 2016File: FY16 BOR Qtrly Report_NOI - Qtr3 Final : UHM RTRF





Variance

Research and Training RF

Projection $29,442,901 $7,360,725 25% $7,360,725 25% $7,360,725 25% $22,082,176 Actual $7,534,373 26% $0 0% $7,521,514 26% $15,055,888 Variance $173,648 1% ($7,360,725) -25% $160,789 1% ($7,026,288) -31.82% 5/

Research and Training RF Expenditures/Transfers


Regular Employee Payroll $2,413,751 $2,089,293 $2,025,993 $6,529,037Non-Regular Employee Payroll $102,197 $83,177 $60,347 $245,721Lecturer Payroll $684 $7,786 $2,400 $10,871Student Help Payroll $83,991 $51,381 $35,175 $170,547

Actual Expenditures: $2,600,623 30% $2,231,638 25% $2,123,915 24% $6,956,176Variance $468,077 5% $783,304 9% $151,309 2% $1,402,690 25.26% 6/


Utilities $422,384 $1,591,673 $2,530,954 $4,545,010Other $4,242,795 $3,833,214 $2,039,172 $10,115,181

Actual Expenditures: $4,665,179 24% $5,424,887 28% $4,570,126 24% $14,660,192Variance $879,430 5% $1,837,631 9% ($486,641) -3% $2,230,419 17.94% 7/

TransfersProjection $112,947 $47,614 42% $17,285 15% $36,754 33% $101,653Actual $1,448,123 1282% ($5,457) -5% $1,166,755 1033% $2,609,421Variance $1,400,509 1240% ($22,742) -20% $1,130,001 1000% $2,507,768 2466.99% 8/

Expenditures, RTRF Projection $28,329,559 $5,965,909 21% $5,052,875 18% $7,066,126 25% $18,084,911 Actual $8,713,925 31% $7,651,067 27% $7,860,796 28% $24,225,788 Variance $2,748,016 10% $2,598,192 9% $794,669 3% $6,140,877 33.96%

Net Operating Income (Revenue - Expenditures/Transfers) ($1,179,552) ($7,651,067) ($339,281) ($9,169,900)

University of Hawaii - FY 2016 Quarterly Financial Report: Net Operating IncomeUH Manoa: Research and Training RF



Page 22 of 49

Last Updated: May 6, 2016File: FY16 BOR Qtrly Report_NOI - Qtr3 Final : UHM Other NGF





Variance

Other Non-General Funds Revenue

Projection $134,208,738 $55,540,023 41% $37,438,518 28% $27,282,277 20% $120,260,818 Actual $53,759,375 40% $37,086,795 28% $22,857,055 17% $113,703,225 Variance ($1,780,648) -1% ($351,723) 0% ($4,425,222) -3% ($6,557,593) -5.45%

Other Non-General Funds Expenditures/Transfers


Regular Employee Payroll $10,728,014 $10,665,564 $10,375,920 $31,769,497Non-Regular Employee Payroll $207,098 $246,928 $243,123 $697,150Lecturer Payroll $101,548 $79,748 $99,967 $281,263Student Help Payroll $1,266,855 $1,147,493 $1,085,638 $3,499,987

Actual Expenditures: $12,303,515 24% $12,139,733 23% $11,804,649 23% $36,247,897Variance ($393,673) -1% ($800,968) -2% ($1,276,309) -2% ($2,470,950) -6.38%


Utilities $1,333,904 $1,584,604 $1,504,970 $4,423,478Other (Note a) $33,201,745 $23,572,150 $36,217,591 $92,991,486

Actual Expenditures: $34,535,648 28% $25,156,755 20% $37,722,561 30% $97,414,964Variance ($249,003) 0% $8,697,760 7% ($4,531,854) -4% $3,916,903 4.19%

Transfers (Note b)Projection ($31,335,190) $8,471,320 -27% $3,137,733 -10% ($95,784) 0% $11,513,270Actual $15,461,027 -49% ($5,627,997) 18% $4,665,629 -15% $14,498,659Variance $6,989,706 -22% ($8,765,730) 28% $4,761,413 -15% $2,985,389 25.93% 9/

Expenditures, Other Non-General Funds Projection $144,649,314 $55,953,160 39% $32,537,429 22% $55,239,588 38% $143,730,177 Actual $62,300,190 43% $31,668,491 22% $54,192,838 37% $148,161,519 Variance $6,347,030 4% ($868,938) -1% ($1,046,750) -1% $4,431,342 3.08%

Net Operating Income (Revenue - Expenditures/Transfers) ($8,540,816) $5,418,304 ($31,335,783) ($34,458,295)

a/ Includes expenditures for tuition scholarships. These expenditures are covered by a transfer of cash from the TFSF in the 4th Quarter.b/ Includes transfer-in from TFSF to cover tuition scholarships (see Note 1) in the 4th Quarter.

University of Hawaii - FY 2016 Quarterly Financial Report: Net Operating IncomeUH Manoa: Other Non-General Funds



Page 23 of 49

Last Updated: May 6, 2016File: FY16 BOR Qtrly Report_NOI - Qtr3 Final : UHM Footnotes

UH MANOA FOOTNOTES:

1/Variances between initial Projection and Current Allocation can be attributed to the net effects of Collective Bargaining augmentations, imposing/releasing of Restrictions, distribution of Performance Funding, transfers between campuses, and release of funding for Special Appropriations.

2/General funds are typically not expended on other current expenditures. The other current expenditures incurred to date are due to performance funding and post-death payments. Performance funding was not allocated to the campus in prior years, therefore the 3 year averages do not provide comparable data.

3/ Units are spending more conservatively which would mean a lower percentage of expenditures as compared to their original budget estimates. Where possible, other sources of funding are being used.

4/ Variance is due to timing of transfers, which are not completed in the same quarter each year. Current (updated) transfer projections are also higher than originally projected.

5/ RTRF revenue recording for Manoa is one quarter behind. Quarter 2 was recorded late and appears in Quarter 3. Quarter 3 was also not recorded in time and should appear in Quarter 4.

6/Historically, units budgeted their RTRF on a bottom line level rather than between Personnel and Other Expenditures, and they did so on a project/award basis instead of based on the fiscal year. Personnel expenditures trending higher than projected as expenses are shifted between fund sources.

7/

Historically, units budgeted their RTRF on a bottom line level rather than between Personnel and Other Expenditures, and they did so on a project/award basis instead of based on the fiscal year. Current (updated) expenditure projections are higher than originally projected for the year due to higher than anticipated revenue. Quarterly projections calculated using a percentage of the updated (higher) Other Current Expenditure projection would result in a lower overall variance.

8/ Original budget projection for transfers was too low, resulting in variances each quarter that will grow through the year.

9/ Variance is due to timing of transfers, which are not completed in the same quarter each year. Current (updated) transfer projections are also higher than originally projected.

Current Criteria for Footnotes: Year-to-Date "% Variance" is greater than 10% and dollar amount of variance is greater than $500,000.

University of Hawaii - FY 2016 Quarterly Financial Report: Net Operating IncomeFor Period Ending March 31, 2016

UH Manoa Footnotes

Page 24 of 49

Last Updated: May 6, 2016File: FY16 BOR Qtrly Report_NOI - Qtr3 Final : UHH GF





Variance


Projection $32,857,631 $32,857,631 100% 0% 0% $32,857,631 Allocation $32,227,067 98% ($199,303) -1% $877,201 3% $32,904,965 Variance ($630,564) -2% ($199,303) -1% $877,201 3% $47,334 0.14% 1/



Regular Employee Payroll $7,680,125 $7,952,753 $7,885,499 $23,518,377Non-Regular Employee Payroll $0 $0 $2,641 $2,641Lecturer Payroll $0 $0 $17,790 $17,790Student Help Payroll $2,928 $36,660 $32,823 $72,411

Actual Expenditures: $7,683,053 24% $7,989,413 25% $7,938,754 25% $23,611,219Variance $4,323 0% ($9,264) 0% ($59,923) 0% ($64,864) -0.27%

Other Current Expenditures Projection $862,925 $163,956 19% $34,517 4% $302,024 35% $500,497 Actual

Utilities $0 $0 $0 $0Other $826 $6,580 $51,329 $58,735

Actual Expenditures: $826 0% $6,580 1% $51,329 6% $58,735 Variance ($163,130) -19% ($27,937) -3% ($250,695) -29% ($441,762) -88.26%

Expenditures, General Funds Projection $32,857,631 $7,842,685 24% $8,033,194 24% $8,300,701 25% $24,176,579 Actual $7,683,879 23% $7,995,992 24% $7,990,083 24% $23,669,954 Variance ($158,806) 0% ($37,201) 0% ($310,618) -1% ($506,626) -2.10%


University of Hawaii - FY 2016 Quarterly Financial Report: Net Operating IncomeUH Hilo: General Funds



Page 25 of 49

Last Updated: May 6, 2016File: FY16 BOR Qtrly Report_NOI - Qtr3 Final : UHH TFSF





Variance


Projection $38,052,520 $19,442,537 51% $15,931,269 42% $1,818,803 5% $37,192,609 Actual $19,023,434 50% $15,993,979 42% $1,242,170 3% $36,259,583 Variance ($419,103) -1% $62,710 0% ($576,633) -2% ($933,026) -2.51%



Regular Employee Payroll $2,545,525 $1,993,257 $2,056,001 $6,594,783Non-Regular Employee Payroll $288,917 $351,550 $325,218 $965,686Lecturer Payroll $249,347 $810,879 $777,583 $1,837,809Student Help Payroll $247,928 $277,159 $228,042 $753,129

Actual Expenditures: $3,331,718 23% $3,432,845 24% $3,386,845 24% $10,151,408Variance ($73,549) -1% ($398,081) -3% ($444,080) -3% ($915,711) -8.27%


Utilities $820,209 $1,445,523 $675,830 $2,941,562Other $2,585,301 $2,407,314 $2,525,674 $7,518,289

Actual Expenditures: $3,405,509 18% $3,852,838 21% $3,201,504 17% $10,459,851Variance ($287,105) -2% ($209,038) -1% ($2,152,786) -12% ($2,648,929) -20.21% 2/

TransfersProjection $8,275,115 $185,544 2% $511,712 6% $841,584 10% $1,538,840Actual $261,607 3% $1,081,113 13% $204,577 2% $1,547,297Variance $76,064 1% $569,401 7% ($637,007) -8% $8,458 0.55%

Expenditures, TFSF Projection $40,926,798 $7,283,425 18% $8,404,513 21% $10,026,800 24% $25,714,737 Actual $6,998,834 17% $8,366,795 20% $6,792,926 17% $22,158,555 Variance ($284,591) -1% ($37,718) 0% ($3,233,873) -8% ($3,556,182) -13.83%


University of Hawaii - FY 2016 Quarterly Financial Report: Net Operating IncomeUH Hilo: Tuition and Fees SF



Page 26 of 49

Last Updated: May 6, 2016File: FY16 BOR Qtrly Report_NOI - Qtr3 Final : UHH RTRF





Variance


Projection $1,696,503 $424,126 25% $424,126 25% $424,126 25% $1,272,377 Actual $936,426 55% $936,426 55% $0 0% $1,872,851 Variance $512,300 30% $512,300 30% ($424,126) -25% $600,474 47.19% 3/


PersonnelProjection $105,778 $16,924 16% $31,733 30% $31,733 30% $80,391Actual

Regular Employee Payroll $75,196 $47,897 $67,925 $191,017Non-Regular Employee Payroll $15,723 $17,396 $15,845 $48,964Lecturer Payroll $0 $0 $0 $0Student Help Payroll $0 $0 $0 $0

Actual Expenditures: $90,919 86% $65,293 62% $83,770 79% $239,981Variance $73,994 70% $33,560 32% $52,036 49% $159,590 198.52%

Other Current ExpendituresProjection $2,835,340 $822,249 29% $1,134,136 40% $567,068 20% $2,523,453Actual

Utilities $0 $0 $0 $0Other $1,255,245 $1,730,138 $148,235 $3,133,618

Actual Expenditures: $1,255,245 44% $1,730,138 61% $148,235 5% $3,133,618Variance $432,996 15% $596,002 21% ($418,834) -15% $610,165 24.18% 4/

TransfersProjection ($1,244,615) $0 0% ($622,308) 50% ($311,154) 25% ($933,461)Actual ($7,500) 1% ($101,543) 8% ($7,778) 1% ($116,821)Variance ($7,500) 1% $520,765 -42% ($318,932) 26% $194,333 -20.82%

Expenditures, RTRF Projection $1,696,503 $839,173 49% $543,562 32% $287,648 17% $1,670,383 Actual $1,338,663 79% $1,693,889 100% $224,226 13% $3,256,778 Variance $499,490 29% $1,150,327 68% ($63,421) -4% $1,586,395 94.97%

Net Operating Income (Revenue - Expenditures/Transfers) ($402,238) ($757,463) ($224,226) ($1,383,927)

University of Hawaii - FY 2016 Quarterly Financial Report: Net Operating IncomeUH Hilo: Research and Training RFFor Period Ending March 31, 2016


Page 27 of 49

Last Updated: May 6, 2016File: FY16 BOR Qtrly Report_NOI - Qtr3 Final : UHH Other NGF





Variance


Projection $10,199,268 $4,615,244 45% $3,981,460 39% $1,544,431 15% $10,141,134 Actual $4,668,491 46% $3,861,214 38% $2,420,718 24% $10,950,423 Variance $53,247 1% ($120,246) -1% $876,287 9% $809,289 7.98%


PersonnelProjection $2,867,681 $716,920 25% $774,274 27% $659,567 23% $2,150,761Actual

Regular Employee Payroll $346,768 $479,753 $404,578 $1,231,099Non-Regular Employee Payroll $66,423 $66,644 $61,194 $194,261Lecturer Payroll $15,527 $18,418 $10,856 $44,801Student Help Payroll $310,103 $232,964 $209,317 $752,384

Actual Expenditures: $738,821 26% $797,779 28% $685,945 24% $2,222,545Variance $21,901 1% $23,505 1% $26,379 1% $71,785 3.34%


Utilities $76,803 $103,168 $98,992 $278,964Other (Note a) $3,439,449 $2,130,778 $4,852,559 $10,422,786

Actual Expenditures: $3,516,253 26% $2,233,947 17% $4,951,551 37% $10,701,750Variance ($1,049,517) -8% $85,350 1% $251,494 2% ($712,673) -6.24%

Transfers (Note b)Projection ($5,545,106) $381,628 -7% $291,588 -5% $364,339 -7% $1,037,555Actual $707,255 -13% ($134,040) 2% $441,358 -8% $1,014,574Variance $325,627 -6% ($425,628) 8% $77,019 -1% ($22,982) -2.21%

Expenditures, Other Non-General Funds Projection $10,751,308 $5,664,318 53% $3,214,459 30% $5,723,962 53% $14,602,739 Actual $4,962,329 46% $2,897,686 27% $6,078,854 57% $13,938,869 Variance ($701,989) -7% ($316,773) -3% $354,892 3% ($663,870) -4.55%

Net Operating Income (Revenue - Expenditures/Transfers) ($293,838) $963,528 ($3,658,136) ($2,988,446)


University of Hawaii - FY 2016 Quarterly Financial Report: Net Operating IncomeUH Hilo: Other Non-General FundsFor Period Ending March 31, 2016


Page 28 of 49

Last Updated: May 6, 2016File: FY16 BOR Qtrly Report_NOI - Qtr3 Final : UHH Footnotes

UH HILO FOOTNOTES:


2/Projected expenditures include Capital Renewal and Deferred Maintenance projects, some of which will be deferred to FY 2017. Also, planned expenditures for the Daniel K. Inouye College of Pharmacy will not be incurred in order to set aside funds to furnish their new building.

3/

The revenue projection in total for the Research and Training RF is understated due to 1) some new allocations were projected as transfers-in, but were actually recorded as a Revenue, and 2) unplanned allocation from the Vice President for Research and Innovation for the Small Business Development Center in exchange for general funds. RTRF revenues were not recorded in Quarter 3. Quarter 3's revenue distribution from the Office of the Vice President for Research and Innovation was recorded on April 1, 2016 and will appear as part of Quarter 4's revenue collections.

4/The expenditure projection in total for the Research and Training RF is understated due to an unplanned allocation from the Vice President for Research and Innovation for the Small Business Development Center in exchange for general funds. Expenditures are primarily recorded in Quarter 1 and Quarter 2 as advance payments to RCUH for service ordered projects.



UH Hilo Footnotes

Page 29 of 49

Last Updated: May 6, 2016File: FY16 BOR Qtrly Report_NOI - Qtr3 Final : UHWO GF





Variance


Projection $13,392,800 $13,392,800 100% 0% 0% $13,392,800 Allocation $13,230,292 99% $640,865 5% $439,124 3% $14,310,281 Variance ($162,508) -1% $640,865 5% $439,124 3% $917,481 6.85% 1/



Regular Employee Payroll $3,303,062 $3,519,695 $2,669,673 $9,492,430Non-Regular Employee Payroll $0 $0 $0 $0Lecturer Payroll $74,910 $511,502 $489,977 $1,076,389Student Help Payroll $2,202 $5,024 $5,616 $12,841

Actual Expenditures: $3,380,174 25% $4,036,220 30% $3,165,265 24% $10,581,660Variance $31,974 0% $688,020 5% ($182,935) -1% $537,060 5.35%

Other Current Expenditures Projection $0 $0 $0 $0 $0 Actual

Utilities $0 $0 $0 $0Other $7,794 $6,734 $5,254 $19,781

Actual Expenditures: $7,794 n/a $6,734 n/a $5,254 n/a $19,781 Variance $7,794 n/a $6,734 n/a $5,254 n/a $19,781 budget=0

Expenditures, General Funds Projection $13,392,800 $3,348,200 25% $3,348,200 25% $3,348,200 25% $10,044,600 Actual $3,387,968 25% $4,042,954 30% $3,170,519 24% $10,601,441 Variance $39,768 0% $694,754 5% ($177,681) -1% $556,841 5.54%


University of Hawaii - FY 2016 Quarterly Financial Report: Net Operating IncomeUH West Oahu: General Funds



Page 30 of 49

Last Updated: May 6, 2016File: FY16 BOR Qtrly Report_NOI - Qtr3 Final : UHWO TFSF





Variance


Projection $15,497,985 $8,368,912 54% $6,354,174 41% $464,940 3% $15,188,025 Actual $7,826,311 50% $6,333,542 41% $573,094 4% $14,732,947 Variance ($542,601) -4% ($20,632) 0% $108,155 1% ($455,079) -3.00%



Regular Employee Payroll $536,013 $403,722 $1,355,439 $2,295,173Non-Regular Employee Payroll $112,272 $160,354 $186,574 $459,201Lecturer Payroll $74,445 $12,710 $10,629 $97,785Student Help Payroll $51,603 $68,477 $54,625 $174,705

Actual Expenditures: $774,333 32% $645,263 26% $1,607,267 66% $3,026,863Variance $162,804 7% $33,734 1% $873,433 36% $1,069,971 54.68% 2/

Other Current ExpendituresProjection $5,265,154 $631,818 12% $1,579,546 30% $1,579,546 30% $3,790,911Actual

Utilities $276,384 $256,042 $213,140 $745,566Other $362,334 $501,912 $864,693 $1,728,940

Actual Expenditures: $638,719 12% $757,955 14% $1,077,833 20% $2,474,506Variance $6,900 0% ($821,591) -16% ($501,713) -10% ($1,316,405) -34.73% 3/

TransfersProjection $7,261,715 $3,049,920 42% $1,524,960 21% $1,524,960 21% $6,099,841Actual $2,906,604 40% $1,738,967 24% $1,382,248 19% $6,027,819Variance ($143,316) -2% $214,007 3% ($142,712) -2% ($72,021) -1.18%

Expenditures, TFSF Projection $14,972,985 $4,293,268 29% $3,716,035 25% $3,838,341 26% $11,847,644 Actual $4,319,656 29% $3,142,185 21% $4,067,348 27% $11,529,189 Variance $26,388 0% ($573,851) -4% $229,007 2% ($318,455) -2.69%


University of Hawaii - FY 2016 Quarterly Financial Report: Net Operating IncomeUH West Oahu: Tuition and Fees SFFor Period Ending March 31, 2016


Page 31 of 49

Last Updated: May 6, 2016File: FY16 BOR Qtrly Report_NOI - Qtr3 Final : UHWO RTRF





Variance


Projection $69,524 $17,381 25% $17,381 25% $17,381 25% $52,143 Actual $31,301 45% $38,801 56% $0 0% $70,102 Variance $13,920 20% $21,420 31% ($17,381) -25% $17,959 34.44%


PersonnelProjection $0 $0 $0 $0 $0Actual

Regular Employee Payroll $33 $83 $101 $217Non-Regular Employee Payroll $0 $0 $0 $0Lecturer Payroll $0 $0 $0 $0Student Help Payroll $0 $0 $0 $0

Actual Expenditures: $33 n/a $83 n/a $101 n/a $217Variance $33 n/a $83 n/a $101 n/a $217 budget=0

Other Current ExpendituresProjection $69,524 $5,562 8% $3,476 5% $8,343 12% $17,381Actual

Utilities $0 $0 $0 $0Other $18,188 $12,700 $33,618 $64,506

Actual Expenditures: $18,188 26% $12,700 18% $33,618 48% $64,506Variance $12,626 18% $9,224 13% $25,276 36% $47,125 271.13%

TransfersProjection $0 $0 $0 $0 $0Actual $0 $0 ($40) n/a ($40)Variance $0 $0 ($40) n/a ($40) budget=0

Expenditures, RTRF Projection $69,524 $5,562 8% $3,476 5% $8,343 12% $17,381 Actual $18,221 26% $12,783 18% $33,680 48% $64,683 Variance $12,659 18% $9,307 13% $25,337 36% $47,302 272.15%

Net Operating Income (Revenue - Expenditures/Transfers) $13,080 $26,018 ($33,680) $5,418

University of Hawaii - FY 2016 Quarterly Financial Report: Net Operating IncomeUH West Oahu: Research and Training RF



Page 32 of 49

Last Updated: May 6, 2016File: FY16 BOR Qtrly Report_NOI - Qtr3 Final : UHWO Other NGF





Variance


Projection $1,178,695 $457,570 39% $282,936 24% $203,559 17% $944,066 Actual $473,170 40% $362,092 31% $428,862 36% $1,264,124 Variance $15,600 1% $79,156 7% $225,303 19% $320,059 33.90%



Regular Employee Payroll $12,466 $15,074 $13,651 $41,192Non-Regular Employee Payroll $25,634 $14,881 $19,758 $60,274Lecturer Payroll $0 $19,404 $17,574 $36,978Student Help Payroll $2,138 $11,996 $9,888 $24,023

Actual Expenditures: $40,239 19% $61,356 28% $60,871 28% $162,466Variance $16,272 7% $19,717 9% ($19,099) -9% $16,890 11.60%

Other Current ExpendituresProjection $3,315,177 $1,127,426 34% $349,662 11% $1,350,151 41% $2,827,238Actual

Utilities $0 $0 $0 $0Other (Note a) $1,066,479 $312,547 $1,206,804 $2,585,830

Actual Expenditures: $1,066,479 32% $312,547 9% $1,206,804 36% $2,585,830Variance ($60,947) -2% ($37,115) -1% ($143,347) -4% ($241,408) -8.54%

Transfers (Note b)Projection ($2,731,632) $16,006 -1% ($1,717,301) 63% ($906,561) 33% ($2,607,855)Actual $259 0% ($1,500,000) 55% ($906,901) 33% ($2,406,642)Variance ($15,747) 1% $217,301 -8% ($340) 0% $201,214 -7.72%

Expenditures, Other Non-General Funds Projection $800,627 $1,167,399 146% ($1,326,000) -166% $523,561 65% $364,959 Actual $1,106,977 138% ($1,126,097) -141% $360,774 45% $341,654 Variance ($60,422) -8% $199,903 25% ($162,786) -20% ($23,305) -6.39%

Net Operating Income (Revenue - Expenditures/Transfers) ($633,807) $1,488,189 $68,088 $922,470


University of Hawaii - FY 2016 Quarterly Financial Report: Net Operating IncomeUH West Oahu: Other Non-General Funds



Page 33 of 49

Last Updated: May 6, 2016File: FY16 BOR Qtrly Report_NOI - Qtr3 Final : UHWO Footnotes

UH WEST OAHU FOOTNOTES:


2/Actual Personnel expenditures are expected to exceed original projections due to increase in services being offered to students. Current (updated) expenditure budgets reflect this.

3/Year-to-Date expenditures do not include encumbrances totalling $933,814. Actual electricity expenses 35% lower than projected due to initiatives such as reprogramming of the a/c system, installation of LED fixtures, and the decrease in the cost of fuel.



UH West Oahu Footnotes

Page 34 of 49

Last Updated: May 6, 2016File: FY16 BOR Qtrly Report_NOI - Qtr3 Final : UHCC GF





Variance


Projection $124,406,354 $124,406,354 100% 0% 0% $124,406,354 Allocation $121,796,244 98% $758,241 1% $3,083,318 2% $125,637,803 Variance ($2,610,110) -2% $758,241 1% $3,083,318 2% $1,231,449 0.99% 1/



Regular Employee Payroll $24,509,020 $25,089,220 $25,597,817 $75,196,057Non-Regular Employee Payroll $9,653 $10,463 $51,081 $71,196Lecturer Payroll $1,029,866 $6,110,877 $5,893,552 $13,034,294Student Help Payroll $2,037 $0 $0 $2,037

Actual Expenditures: $25,550,575 21% $31,210,560 25% $31,542,450 26% $88,303,585Variance ($2,913,292) -2% ($1,136,763) -1% ($635,974) -1% ($4,686,030) -5.04%

Other Current Expenditures Projection $1,503,530 $235,776 16% $298,652 20% $112,477 7% $646,904 Actual

Utilities $227,737 $194,636 $161,282 $583,655Other $38,240 $23,814 $19,042 $81,097

Actual Expenditures: $265,977 18% $218,451 15% $180,325 12% $664,752 Variance $30,201 2% ($80,201) -5% $67,848 5% $17,848 2.76%

Expenditures, General Funds Projection $124,406,354 $28,699,644 23% $32,645,975 26% $32,290,901 26% $93,636,519 Actual $25,816,552 21% $31,429,010 25% $31,722,774 25% $88,968,336 Variance ($2,883,092) -2% ($1,216,964) -1% ($568,126) 0% ($4,668,183) -4.99%


University of Hawaii - FY 2016 Quarterly Financial Report: Net Operating IncomeUH Community Colleges: General Funds



Page 35 of 49

Last Updated: May 6, 2016File: FY16 BOR Qtrly Report_NOI - Qtr3 Final : UHCC TFSF





Variance


Projection $66,953,012 $35,131,596 52% $26,373,515 39% $4,665,997 7% $66,171,108 Actual $35,385,760 53% $27,199,559 41% $3,810,298 6% $66,395,617 Variance $254,164 0% $826,044 1% ($855,700) -1% $224,508 0.34%



Regular Employee Payroll $4,632,551 $4,487,636 $4,521,982 $13,642,168Non-Regular Employee Payroll $302,371 $449,108 $360,398 $1,111,877Lecturer Payroll $207,333 $489,290 $371,951 $1,068,575Student Help Payroll $563,325 $847,713 $767,859 $2,178,896

Actual Expenditures: $5,705,580 24% $6,273,746 26% $6,022,189 25% $18,001,516Variance $594,931 3% $613,991 3% $149,142 1% $1,358,063 8.16%


Utilities $2,354,342 $2,624,813 $2,073,642 $7,052,797Other $9,004,102 $3,970,775 $7,632,076 $20,606,954

Actual Expenditures: $11,358,444 30% $6,595,587 17% $9,705,719 26% $27,659,751Variance $565,200 1% ($1,896,617) -5% ($1,246,700) -3% ($2,578,117) -8.53%

TransfersProjection $5,166,193 $134,907 3% $1,661,866 32% $738,851 14% $2,535,624Actual $10,250 0% $3,011,548 58% $1,392,526 27% $4,414,324Variance ($124,657) -2% $1,349,681 26% $653,675 13% $1,878,699 74.09% 2/

Expenditures, TFSF Projection $66,953,012 $16,038,801 24% $15,813,826 24% $17,564,317 26% $49,416,944 Actual $17,074,275 26% $15,880,881 24% $17,120,434 26% $50,075,590 Variance $1,035,474 2% $67,055 0% ($443,882) -1% $658,646 1.33%


University of Hawaii - FY 2016 Quarterly Financial Report: Net Operating IncomeUH Community Colleges: Tuition and Fees SF



Page 36 of 49

Last Updated: May 6, 2016File: FY16 BOR Qtrly Report_NOI - Qtr3 Final : UHCC RTRF





Variance


Projection $2,396,284 $599,071 25% $599,071 25% $599,071 25% $1,797,213 Actual $656,951 27% $681,951 28% $0 0% $1,338,903 Variance $57,880 2% $82,880 3% ($599,071) -25% ($458,311) -25.50%


PersonnelProjection $1,360,700 $283,587 21% $277,693 20% $293,586 22% $854,866Actual

Regular Employee Payroll $183,193 $214,400 $449,844 $847,437Non-Regular Employee Payroll $32,735 $19,888 $22,143 $74,765Lecturer Payroll $0 $0 $0 $0Student Help Payroll $24,179 $12,259 $2,967 $39,405

Actual Expenditures: $240,106 18% $246,547 18% $474,955 35% $961,607Variance ($43,481) -3% ($31,146) -2% $181,369 13% $106,742 12.49%

Other Current ExpendituresProjection $1,035,584 $368,303 36% $323,119 31% $285,604 28% $977,026Actual

Utilities $0 $0 $0 $0Other $295,452 $193,400 ($91,311) $397,542

Actual Expenditures: $295,452 29% $193,400 19% ($91,311) -9% $397,542Variance ($72,851) -7% ($129,718) -13% ($376,916) -36% ($579,484) -59.31% 3/

TransfersProjection $0 $0 $0 $0 $0Actual $0 $0 ($29,540) n/a ($29,540)Variance $0 $0 ($29,540) n/a ($29,540) budget=0

Expenditures, RTRF Projection $2,396,284 $651,890 27% $600,811 25% $579,190 24% $1,831,892 Actual $535,558 22% $439,947 18% $354,103 15% $1,329,609 Variance ($116,331) -5% ($160,864) -7% ($225,087) -9% ($502,283) -27.42%

Net Operating Income (Revenue - Expenditures/Transfers) $121,393 $242,004 ($354,103) $9,293

University of Hawaii - FY 2016 Quarterly Financial Report: Net Operating IncomeUH Community Colleges: Research and Training RF



Page 37 of 49

Last Updated: May 6, 2016File: FY16 BOR Qtrly Report_NOI - Qtr3 Final : UHCC Other NGF





Variance


Projection $22,599,411 $7,708,775 34% $4,367,631 19% $4,400,488 19% $16,476,894 Actual $6,859,871 30% $3,350,276 15% $3,770,279 17% $13,980,426 Variance ($848,904) -4% ($1,017,355) -5% ($630,209) -3% ($2,496,468) -15.15% 4/



Regular Employee Payroll $2,375,472 $1,110,251 $1,099,335 $4,585,057Non-Regular Employee Payroll $206,024 $204,698 $171,156 $581,877Lecturer Payroll $1,328,546 $474,119 $399,324 $2,201,989Student Help Payroll $281,466 $220,257 $184,275 $685,998

Actual Expenditures: $4,191,507 38% $2,009,325 18% $1,854,089 17% $8,054,921Variance ($246,809) -2% ($307,008) -3% ($82,860) -1% ($636,678) -7.33%


Utilities $92,057 $75 $25 $92,157Other $1,783,700 $1,768,151 $1,924,937 $5,476,789

Actual Expenditures: $1,875,757 17% $1,768,226 16% $1,924,962 17% $5,568,945Variance ($214,932) -2% ($1,043,014) -9% ($702,525) -6% ($1,960,471) -26.04% 5/

Transfers Projection $589,609 $3,169 1% $61,376 10% $18,655 3% $83,200Actual $2,090,131 354% ($290,457) -49% ($1,189,504) -202% $610,170Variance $2,086,962 354% ($351,832) -60% ($1,208,159) -205% $526,970 633.38% 6/

Expenditures, Other Non-General Funds Projection $22,599,411 $6,532,174 29% $5,188,949 23% $4,583,092 20% $16,304,215 Actual $8,157,395 36% $3,487,094 15% $2,589,547 11% $14,234,037 Variance $1,625,221 7% ($1,701,855) -8% ($1,993,544) -9% ($2,070,179) -12.70%

Net Operating Income (Revenue - Expenditures/Transfers) ($1,297,524) ($136,819) $1,180,731 ($253,611)

University of Hawaii - FY 2016 Quarterly Financial Report: Net Operating IncomeUH Community Colleges: Other Non-General Funds



Page 38 of 49

Last Updated: May 6, 2016File: FY16 BOR Qtrly Report_NOI - Qtr3 Final : UHCC Footnotes

UH COMMUNITY COLLEGES FOOTNOTES:


2/Transfer variance is due to timing issues; transfers are recorded in different quarters in different fiscal years. For FY 2016, transfers for the UH Foundation assessment, Risk Management assessment, and Energy Conservation and Alternative Energy projects debt service were recorded earlier than in prior years and the transfer for the Capital Projects Management System assessment is a new assessment starting in FY 2016.

3/ RTRF funds budgeted for utilities expenses were not used due to decrease in total electricity expenses paid for the first three quarters of the fiscal year.

4/

Revenues for the Other Non-General funds category are primarily from the Community Colleges Special Fund (CCSF), Conference Center Revolving Fund, and Student Activities Revolving Fund. Revenue decrease due in part to lower than anticipated demand for non-credit offerings by the public. The level of activity and timing of revenues collected for the various programs that comprise the Community College Special Fund and the Conference Center program fund vary from year to year.

5/Expenditures for the Other Non-General funds category are primarily from the Community Colleges Special Fund (CCSF), Conference Center Revolving Fund, and Student Activities Revolving Fund. Expenditure decrease due in part to lower than anticipated demand for non-credit offerings by the public. The level of activity and timing of payments for the various programs that comprise the Community College Special Fund and the Conference Center program vary from year to year.

6/

Transfer variance is due to timing of transfers recorded in different quarters in different fiscal years. Transfer for the Culinary Institute of the Pacific debt service payment ($408.1K) was recorded by March 31 for the current fiscal year and recorded after March 31 in prior years. Transfers for the Leeward Education Center (47.5K) and Palamanui campus (154.5K) April 1 debt service payments were transferred from the Revenue Undertaking SF by March 31. However, offsetting transfers from the Tuition & Fees SF to fund the debt service payments were not recorded by quarter end closing.



UH Community Colleges Footnotes

Page 39 of 49

Last Updated: May 6, 2016File: FY16 BOR Qtrly Report_NOI - Qtr3 Final : SW GF





Variance


Projection $49,590,637 $49,590,637 100% 0% 0% $49,590,637 Allocation $49,119,240 99% ($5,233,016) -11% ($2,343,975) -5% $41,542,249 Variance ($471,397) -1% ($5,233,016) -11% ($2,343,975) -5% ($8,048,388) -16.23% 1/



Regular Employee Payroll $7,899,777 $7,899,277 $7,025,079 $22,824,133Non-Regular Employee Payroll $96,484 $132,828 $139,784 $369,097Lecturer Payroll $0 $0 $0 $0Student Help Payroll $275,588 $229,297 $223,078 $727,962

Actual Expenditures: $8,271,850 26% $8,261,402 26% $7,387,941 23% $23,921,192Variance $630,931 2% $447,587 1% ($547,105) -2% $531,413 2.27%

Other Current Expenditures Projection $5,976,196 $130,324 2% $766,371 13% $938,054 16% $1,834,750 Actual

Utilities $0 $0 $0 $0Other $254,290 $1,575,200 $739,501 $2,568,991

Actual Expenditures: $254,290 4% $1,575,200 26% $739,501 12% $2,568,991 Variance $123,966 2% $808,829 14% ($198,554) -3% $734,241 40.02% 2/

Transfers (B+ Scholarships)Projection $3,000,000 $0 $1,500,000 50% $0 $1,500,000Actual $0 $1,500,000 50% $0 $1,500,000Variance $0 $0 0% $0 $0 0.00%

Expenditures, General Funds Projection $40,974,358 $7,771,242 19% $10,080,186 25% $8,873,101 22% $26,724,529 Actual $8,526,139 21% $11,336,602 28% $8,127,442 20% $27,990,183 Variance $754,897 2% $1,256,415 3% ($745,659) -2% $1,265,654 4.74%


University of Hawaii - FY 2016 Quarterly Financial Report: Net Operating IncomeUH Systemwide Programs: General Funds



Page 40 of 49

Last Updated: May 6, 2016File: FY16 BOR Qtrly Report_NOI - Qtr3 Final : SW TFSF





Variance


Projection $679,720 $232,570 34% $102,015 15% $125,607 18% $460,192 Actual $287,220 42% $124,590 18% $143,730 21% $555,540 Variance $54,650 8% $22,575 3% $18,123 3% $95,348 20.72%



Regular Employee Payroll $222,719 $219,434 $1,047,091 $1,489,244Non-Regular Employee Payroll $0 $1,520 $0 $1,520Lecturer Payroll $0 $0 $0 $0Student Help Payroll $0 $0 $0 $0

Actual Expenditures: $222,719 7% $220,954 7% $1,047,091 34% $1,490,764Variance ($463,518) -15% ($559,984) -18% $307,310 10% ($716,191) -32.45% 3/


Utilities $2,571 $3,503 $3,564 $9,638Other $1,090,424 $2,326,241 $3,069,416 $6,486,082

Actual Expenditures: $1,092,996 16% $2,329,745 34% $3,072,979 45% $6,495,720Variance ($836,194) -12% $140,577 2% ($80,819) -1% ($776,436) -10.68% 4/

TransfersProjection ($8,885,627) ($266,569) 3% ($5,061,718) 57% ($3,418,382) 38% ($8,746,669)Actual ($233,813) 3% ($5,757,031) 65% ($2,938,318) 33% ($8,929,162)Variance $32,756 0% ($695,313) 8% $480,064 -5% ($182,494) 2.09%

Expenditures, TFSF Projection $1,089,779 $2,348,858 216% ($2,091,613) -192% $475,197 44% $732,442 Actual $1,081,902 99% ($3,206,332) -294% $1,181,752 108% ($942,679) Variance ($1,266,956) -116% ($1,114,719) -102% $706,555 65% ($1,675,120) -228.70%

Net Operating Income (Revenue - Expenditures/Transfers) ($794,682) $3,330,922 ($1,038,022) $1,498,219

University of Hawaii - FY 2016 Quarterly Financial Report: Net Operating IncomeUH Systemwide Programs: Tuition and Fees SF



Page 41 of 49

Last Updated: May 6, 2016File: FY16 BOR Qtrly Report_NOI - Qtr3 Final : SW RTRF





Variance


Projection $15,304,527 $3,826,132 25% $3,826,132 25% $3,826,132 25% $11,478,396 Actual ($4,824,275) -32% $17,985,306 118% $3,464,452 23% $16,625,483 Variance ($8,650,406) -57% $14,159,174 93% ($361,680) -2% $5,147,088 44.84% 5/



Regular Employee Payroll $1,218,362 $1,257,603 $1,258,040 $3,734,005Non-Regular Employee Payroll $23,692 $15,651 $7,567 $46,911Lecturer Payroll $0 $0 $0 $0Student Help Payroll $13,756 $12,212 $11,709 $37,676

Actual Expenditures: $1,255,810 25% $1,285,466 26% $1,277,316 26% $3,818,592Variance $94,859 2% ($42,706) -1% ($33,458) -1% $18,694 0.49%


Utilities $0 $0 $0 $0Other $2,943,445 $1,420,009 $1,954,960 $6,318,415

Actual Expenditures: $2,943,445 30% $1,420,009 14% $1,954,960 20% $6,318,415Variance $157,338 2% ($32,026) 0% ($1,772,148) -18% ($1,646,836) -20.68% 6/

TransfersProjection $190,728 $26,184 14% $247,434 130% ($20,502) -11% $253,117Actual ($124,175) -65% $107,500 56% ($455,717) -239% ($472,392)Variance ($150,359) -79% ($139,934) -73% ($435,215) -228% ($725,509) -286.63% 7/

Expenditures, RTRF Projection $15,143,738 $3,973,242 26% $3,027,642 20% $5,017,380 33% $12,018,265 Actual $4,075,080 27% $2,812,975 19% $2,776,559 18% $9,664,614 Variance $101,838 1% ($214,667) -1% ($2,240,821) -15% ($2,353,651) -19.58%

Net Operating Income (Revenue - Expenditures/Transfers) ($8,899,354) $15,172,331 $687,893 $6,960,870

University of Hawaii - FY 2016 Quarterly Financial Report: Net Operating IncomeUH Systemwide Programs: Research and Training RF



Page 42 of 49

Last Updated: May 6, 2016File: FY16 BOR Qtrly Report_NOI - Qtr3 Final : SW Other NGF





Variance


Projection $3,407,760 $568,456 17% $860,800 25% $860,800 25% $2,290,056 Actual $522,956 15% $720,611 21% $4,332,670 127% $5,576,237 Variance ($45,499) -1% ($140,189) -4% $3,471,870 102% $3,286,181 143.50% 8/



Regular Employee Payroll $194,977 $196,803 $197,873 $589,653Non-Regular Employee Payroll $0 $0 $0 $0Lecturer Payroll $0 $0 $0 $0Student Help Payroll $3,298 $2,373 $1,879 $7,550

Actual Expenditures: $198,275 22% $199,176 22% $199,752 22% $597,204Variance ($93,542) -10% ($7,761) -1% ($61,339) -7% ($162,641) -21.40%


Utilities $0 $0 $0 $0Other $2,523,684 $1,587,793 $2,633,117 $6,744,593

Actual Expenditures: $2,523,684 33% $1,587,793 21% $2,633,117 35% $6,744,593Variance ($211,388) -3% $93,804 1% $366,229 5% $248,645 3.83%

Transfers Projection ($4,876,834) ($634,236) 13% ($3,146,533) 65% ($1,894,938) 39% ($5,675,708)Actual ($250,760) 5% ($3,428,237) 70% ($522,897) 11% ($4,201,894)Variance $383,476 -8% ($281,704) 6% $1,372,041 -28% $1,473,814 -25.97% 9/

Expenditures, Other Non-General Funds Projection $3,670,698 $2,392,653 65% ($1,445,608) -39% $633,041 17% $1,580,086 Actual $2,471,199 67% ($1,641,268) -45% $2,309,972 63% $3,139,903 Variance $78,546 2% ($195,660) -5% $1,676,931 46% $1,559,817 98.72%

Net Operating Income (Revenue - Expenditures/Transfers) ($1,948,242) $2,361,879 $2,022,697 $2,436,334

University of Hawaii - FY 2016 Quarterly Financial Report: Net Operating IncomeUH Systemwide Programs: Other Non-General Funds



Page 43 of 49

Last Updated: May 6, 2016File: FY16 BOR Qtrly Report_NOI - Qtr3 Final : SW Footnotes

UH SYSTEMWIDE PROGRAMS FOOTNOTES:

1/

The variance is due to General Fund transfers. In Quarter 2, Systemwide transferred out $6,443,016 to Other UH Programs: $1,454,696 for Academy for Creative Media; $800,000 for Worker's Compensation and Unemployment Insurance; $187,000 for Psychiatric/Counseling & Disability Services and Career Development & Student Employment; $322,242 for Na Pua No'eau; and $3,679,078 for performance targets and student achievement. System received a transfer in of $760,000 from UH Hilo Small Business Development Center (Vice President for Research and Innovation RTRF swap) and $450,000 in a Special Appropriation for the Graduation Pathway System. Net transfer out in Quarter 2 was $5,233,016. At the time of revenue projection, the Special Appropriation was not included.

2/ The rise in General Fund expenditures is primarily due to the addition of new Systemwide programs such as the Office of Institutional Equity, Office of Sustainability and Native Hawaiian Initiatives.

3/ Payroll expenses to NTFSF Fiscal Services, NTFSF Vice President for Research and Innovation, and Banner accounts will occur later this fiscal year for budgeting purposes.

4/ Timing issue due to the first installment of the UH Foundation contract being made in Quarter 2.5/ Timing issue that RTRF revenues were realized, but the transfers to the campuses did not record in the same quarter. 6/ Lower expenditures in Quarter 3 than anticipated.7/ Timing issue that the transfers to the Systemwide programs did not record in Quarter 3.

8/Timing of the transfer of the Build American Bond distribution did not occur in the same quarter as the recognized revenue. The rise in third quarter revenue is also due to a ITS contract payment received once every five years.

9/There are two significant transfers that typically occur during Quarter 2 in Other Special Funds: the Risk Management assessment and a partial transfer of the B Plus Scholarship funds to the campuses. Together, both assessments represent the majority of the total projected Other Special Funds transfers. However timing issues with both transfers occurred in previous fiscal years, thus attributing to the skewed Quarter 3 projection.



UH Systemwide Programs Footnotes

Page 44 of 49

Last Updated: May 6, 2016File: FY16 BOR Qtrly Report_NOI - Qtr3 Final : UH GF





Variance


Projection $439,864,740 $439,864,740 100% $0 $439,864,740 Allocation $432,084,364 98% $765,000 0% $4,552,975 1% $437,402,339 Variance ($7,780,376) -2% $765,000 0% $4,552,975 1% ($2,462,401) -0.56%



Regular Employee Payroll $96,053,546 $102,591,204 $102,865,293 $301,510,043Non-Regular Employee Payroll $106,137 $143,291 $193,506 $442,934Lecturer Payroll $1,104,776 $6,622,379 $6,401,318 $14,128,473Student Help Payroll $288,117 $277,041 $269,020 $834,177

Actual Expenditures: $97,552,576 23% $109,633,914 26% $109,729,137 26% $316,915,628Variance ($6,278,753) -1% $718,594 0% $1,532,609 0% ($4,027,549) -1.25%

Other Current Expenditures Projection $11,342,651 $530,056 5% $2,599,540 23% $1,352,555 12% $4,482,151 Actual

Utilities $227,737 $194,636 $161,282 $583,655Other $384,993 $3,584,803 $1,031,112 $5,000,908

Actual Expenditures: $612,730 5% $3,779,439 33% $1,192,394 11% $5,584,564 Variance $82,674 1% $1,179,899 10% ($160,161) -1% $1,102,413 24.60%

Expenditures, General Funds Projection $431,248,461 $104,361,385 24% $111,514,860 26% $109,549,083 25% $325,425,327 Actual $98,165,306 23% $113,413,354 26% $110,921,532 26% $322,500,191 Variance ($6,196,079) -1% $1,898,494 0% $1,372,449 0% ($2,925,136) -0.90%


University of Hawaii - FY 2016 Quarterly Financial Report: Net Operating IncomeUH System: General Funds



Page 45 of 49

Last Updated: May 6, 2016File: FY16 BOR Qtrly Report_NOI - Qtr3 Final : UH TFSF





Variance


Projection $345,239,110 $180,794,352 52% $132,333,215 38% $31,920,683 9% $345,048,249 Actual $182,588,434 53% $130,325,782 38% $34,293,456 10% $347,207,673 Variance $1,794,083 1% ($2,007,432) -1% $2,372,773 1% $2,159,424 0.63%



Regular Employee Payroll $29,238,072 $21,561,665 $22,071,478 $72,871,215Non-Regular Employee Payroll $1,068,522 $1,295,766 $1,192,057 $3,556,345Lecturer Payroll $2,436,035 $4,188,346 $3,894,900 $10,519,282Student Help Payroll $2,222,360 $2,595,506 $2,274,306 $7,092,173

Actual Expenditures: $34,964,990 25% $29,641,283 21% $29,432,741 21% $94,039,014Variance ($2,538,178) -2% ($3,816,482) -3% ($3,371,576) -2% ($9,726,236) -9.37%


Utilities $14,555,893 $10,320,969 $8,015,537 $32,892,400Other $22,558,787 $21,692,335 $30,567,948 $74,819,070

Actual Expenditures: $37,114,680 25% $32,013,304 22% $38,583,485 26% $107,711,470Variance $538,545 0% ($5,575,206) -4% ($3,996,439) -3% ($9,033,101) -7.74%

TransfersProjection $54,306,081 $4,003,013 7% $3,150,274 6% $2,253,967 4% $9,407,254Actual $5,037,059 9% $5,231,472 10% $3,410,853 6% $13,679,385Variance $1,034,046 2% $2,081,199 4% $1,156,886 2% $4,272,130 45.41%

Expenditures, TFSF Projection $342,857,052 $78,082,316 23% $74,196,549 22% $77,638,209 23% $229,917,074 Actual $77,116,729 22% $66,886,060 20% $71,427,079 21% $215,429,868 Variance ($965,587) 0% ($7,310,490) -2% ($6,211,130) -2% ($14,487,206) -6.30%


University of Hawaii - FY 2016 Quarterly Financial Report: Net Operating IncomeUH System: Tuition and Fees SF



Page 46 of 49

Last Updated: May 6, 2016File: FY16 BOR Qtrly Report_NOI - Qtr3 Final : UH RTRF





Variance


Projection $48,909,739 $12,227,435 25% $12,227,435 25% $12,227,435 25% $36,682,305 Actual $4,334,776 9% $19,642,484 40% $10,985,967 22% $34,963,226 Variance ($7,892,659) -16% $7,415,049 15% ($1,241,468) -3% ($1,719,078) -4.69%



Regular Employee Payroll $3,890,534 $3,609,276 $3,801,903 $11,301,713Non-Regular Employee Payroll $174,347 $136,113 $105,902 $416,362Lecturer Payroll $684 $7,786 $2,400 $10,871Student Help Payroll $121,925 $75,852 $49,851 $247,628

Actual Expenditures: $4,187,490 27% $3,829,026 25% $3,960,057 26% $11,976,573Variance $593,482 4% $743,094 5% $351,358 2% $1,687,934 16.41%


Utilities $422,384 $1,591,673 $2,530,954 $4,545,010Other $8,755,125 $7,189,462 $4,084,674 $20,029,261

Actual Expenditures: $9,177,509 32% $8,781,135 31% $6,615,628 23% $24,574,272Variance $3,119,412 11% $2,450,402 9% ($620,911) -2% $4,948,903 25.22%

TransfersProjection ($940,940) $73,798 -8% ($357,588) 38% ($294,901) 31% ($578,691)Actual $1,316,447 -140% $500 0% $673,680 -72% $1,990,627Variance $1,242,650 -132% $358,088 -38% $968,581 -103% $2,569,319 -443.99%

Expenditures, RTRF Projection $43,012,972 $9,725,903 23% $9,059,078 21% $10,550,336 25% $29,335,317 Actual $14,681,446 34% $12,610,661 29% $11,249,365 26% $38,541,472 Variance $4,955,543 12% $3,551,583 8% $699,028 2% $9,206,155 31.38%

Net Operating Income (Revenue - Expenditures/Transfers) ($10,346,670) $7,031,822 ($263,398) ($3,578,246)

University of Hawaii - FY 2016 Quarterly Financial Report: Net Operating IncomeUH System: Research and Training RF



Page 47 of 49

Last Updated: May 6, 2016File: FY16 BOR Qtrly Report_NOI - Qtr3 Final : UH Other NGF





Variance


Projection $171,593,872 $68,890,067 40% $46,931,345 27% $34,291,555 20% $150,112,967 Actual $66,283,863 39% $45,380,987 26% $33,809,584 20% $145,474,435 Variance ($2,606,204) -2% ($1,550,357) -1% ($481,971) 0% ($4,638,533) -3.09%



Regular Employee Payroll $13,657,697 $12,467,444 $12,091,357 $38,216,498Non-Regular Employee Payroll $505,179 $533,151 $495,232 $1,533,562Lecturer Payroll $1,445,621 $591,689 $527,721 $2,565,031Student Help Payroll $1,863,860 $1,615,084 $1,490,997 $4,969,941

Actual Expenditures: $17,472,357 26% $15,207,369 23% $14,605,307 22% $47,285,033Variance ($695,851) -1% ($1,072,515) -2% ($1,413,228) -2% ($3,181,594) -6.30%


Utilities $1,502,765 $1,687,848 $1,603,986 $4,794,599Other (Note a) $42,015,057 $29,371,420 $46,835,008 $118,221,484

Actual Expenditures: $43,517,821 27% $31,059,267 19% $48,438,994 30% $123,016,083Variance ($1,785,786) -1% $7,796,784 5% ($4,760,002) -3% $1,250,996 1.03%

Transfers (Note b)Projection ($43,899,153) $8,237,888 -19% ($1,373,137) 3% ($2,514,289) 6% $4,350,462Actual $18,007,912 -41% ($10,980,730) 25% $2,487,685 -6% $9,514,867Variance $9,770,024 -22% ($9,607,593) 22% $5,001,974 -11% $5,164,405 118.71%

Expenditures, Other Non-General Funds Projection $182,471,358 $71,709,703 39% $38,169,229 21% $66,703,243 37% $176,582,176 Actual $78,998,090 43% $35,285,906 19% $65,531,986 36% $179,815,982 Variance $7,288,387 4% ($2,883,323) -2% ($1,171,257) -1% $3,233,806 1.83%

Net Operating Income (Revenue - Expenditures/Transfers) ($12,714,227) $10,095,081 ($31,722,402) ($34,341,547)

a/ Includes expenditures for tuition scholarships for 4-year institutions. These expenditures are covered by a transfer of cash from the TFSF in the 4th Quarter.b/ Includes transfer-in from TFSF to cover tuition scholarships (see Note 1) in the 4th Quarter.

University of Hawaii - FY 2016 Quarterly Financial Report: Net Operating IncomeUH System: Other Non-General Funds



Page 48 of 49

Last Updated: February 3, 2016File: FY16 BOR Qtrly Report_NOI - Qtr3 Final : Definitions

Projection Column

Quarterly Projections

Quarterly Actuals Actual Revenue, Expenditure and Transfer balances for each quarter

Quarterly Variance Difference between quarterly actual and quarterly projection [Quarterly Actual] - [Quarterly Projection]

% of Annual

Year-to-Date Projection

Year-to-Date Actual

Year-to-Date Variance Difference between YTD Actual and YTD Projection [YTD Actual] - [YTD Projection]

[YTD Variance] / [YTD Projection]

General Funds

Quarterly Appropriation

Quarterly Allocation

Year-to-Date Allocation

Current Allocation (ties to most current A-19 allocation)

[Annual Projection] x [quarterly percentages from Quarterly Comparison worksheets]

Quarterly Projection, Actual and Variance amounts as a percentage of the annual Projection

Actual Revenue, Expenditures and Transfers as of the end of the respective quarter

General Funds: [Allocation] - [Actual Expenditures]Non-General Funds: [Actual Revenue] - [Actual Expenditures]Net Operating Income

General Funds: Difference between quarterly Allocation and quarterly ExpendituresGeneral Funds: Difference between quarterly Revenue and quarterly Expenditures/Transfers

Qtr 1: Allocation as of 09/30/15 (A-19 amounts)Qtrs 2-4: Any changes to allocation during that quarter (A-19 amendments)

Revenue, Expenditure and Transfer projections approved by the BOR via the FY16 Operating Budget worksheets

Qtr 1: Equals annual GF projection from Operating Budget worksheetsQtrs 2-4: Not applicable

Quarterly Financial Report: Net Operating Income

Revenue, Expenditure and Transfer projections for each quarter

Revenue, Expenditure and Transfer projections as of the end of the respective quarter

% Variance YTD Variance as a percentage of the YTD Projection

Definitions

Page 49 of 49

HAWAIi® of UNIVERSITY - University of Hawaii › offices › bor › finance › ...UNIVERSITY of HAWAIi® SYSTEM HIvHSI;Y 3F HAtAH EOAkD OF REGENI S 16 MAY12 P2:19 Kalbert K. Young

Documents