S CONGRATULATIONS TO THE CLASS OF 2014 · CONGRATULATIONS TO THE Fatima Adam Sean Adl Bryan Agahan Aasia Aguirre Ruba Albitar Paula Alcantar Kimberly Aramburo Soa Araya Monica Bacca

CONGRATULATIONS TO THE

Fatima AdamSean AdlBryan AgahanAasia AguirreRuba AlbitarPaula AlcantarKimberly AramburoSo�a ArayaMonica BaccaAlenoosh BaghoomianErika BarajasJoyann BarberDanyelle BenwareMatthew BergerNicholas BookerEthan BrehmStephanie BruceAnthony BrunoCassandra BullockDanny BullocksKozet CabreraAmaris ChanTammi ChaparroChristian Chen

Stephanie ChenAriana CifuentesPrisilla Contreras SotoBrian CraneKaren DanielJessica De La RosaAllan De LeonJacqueline DeebKarina Diaz-InfanteWendy DiegoAdam DongAndrea EdwardsJoel EspinozaKelly FisherCarlos FloresNatali FloresJe�rey FredericksAaron Gabriel GallardoNancy GamboaCynthia GarciaCharles GepfordJuliet GilekStephanie GonzalezAlex GonzalezNestor GonzalezRandi GoodrickBrenna GrabowskiAlexander GrebMagdalena GutierrezCecilia GutierrezRicardo GutierrezMina HabibSean HadnotLeslie HernandezBranden HerronAstrid HilgertAlvina HinhBriana HoSascha HoemkeOrr KarnyBrandon KempCharlotte Kerber

Allen KhachikianKevin KhangNaira KhosravianEugene KilTseng Hui KoArmen KvryanSoying KwanDiana LakeJessica LeeKun LeeElizabeth LizharArt Moses LomibaoDora Lopez MataParker LoveAdriana MaciasMark MarellaArianne MaristelaJessica MarquezBrittney MartinezAndrew MartinezGina MarzoloErin MaschoYujia MeiAndrew MenzJessica MilanesRachael MillerSamantha MilliganDesiree MonarrezSanoubar Mousavi AghdamCameron NakasoneTimothee NeumannDavid NgetCarla NogueraIsrael NunezRobert OrozcoCrystal OrtizMarlon OrtizChristopher PalmSalvatore PalominoTara ParkerBenjamin PereaRanil Perera

Fabian PerezAndrew PeriasDaniel PimentelTeresa PowellDavid PrescottJessica QuittmeyerChristian RaygozaRobin ReeseKaren ReyesAlexandra ReyesBlin RichardsGina RisetterFabian RodriguezChristopher RomeroChristopher RuhlRicky Ruiz-ZepedaAmanda SanchezBruce SanchezManuel SanchezAshley SantiagoJoshua SargentKathryn SemansJohn SevillaKristine SosaDavid StarkJennifer SteinmetzMegan SweeneySarah ToCesar TorresAmy TowneJohnny TruongAnn TruongSamantha ValadezAshley Van VlietJenae VarneyTrevor VasquezErika VelazquezSamantha VidaurriSamayyah WilliamsDiana ZafraLucio Zepeda

Congratulations to all the graduating student employees of Cal Poly Pomona Foundation. Thank you for allowing the Foundation to be part of your learning experience at Cal Poly Pomona. We hope we have provided you with the hands-on training and support you need for life after graduation. Thank you for contributing to the success of the Foundation. You will all be missed!

CLASS OF 2014

1CAL POLY POMONA FOUNDATION, INC.

BOARD

INSIGHTS

June2014

2

foundation.csupomona.edu

PUBLISHED BY:

WHAT YOU SPEND ON CAMPUS … STAYS ON

CAMPUS

Surplus funds generated by all Cal Poly Pomona Foundation

operations go back to the University to provide financial and

facility resources to benefit students, faculty, and staff.

Cal Poly Pomona Foundation. Inc.Ph: 909-869-2912Fx: 909-869-4549

Notes of Gratitude ...Foundation,

Thank you and the Cal Poly Pomona Foundation for the recent 2014-15 gift—and increase! With seven of our ten teams in post-season this year, the additional scholarship support will sure help us to attract student-athletes who move us forward.

Cordially,

Brian SwansonDirector of Intercollegiate Athletics

Foundation,

The Latino faculty, staff, and student association at Cal Poly Pomona would like to thank you for your contribution to our scholarship fundraising event on May 19, 2014.

With your help, we were able to raise $650 toward student scholarships.

We couldn’t have done it without you!

THANK YOU!

Foundation’s Summer ScheduleStarting Monday, June 16, the Foundation will be closed on Fridays throughout the summer, except for the week of September 8 and September 15. (Foundation will be open 5 days these weeks.) The Foundation offices will be open 7:00 a.m. to 6:00 p.m. Monday through Thursday in summer.

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Dining Services Helps with 75th Anniversary FinaleFoundation Dining Services extended a helping hand to the 75th Anniversary Finale, which took place on Friday, June 6.

Service Manager Cody Medina coordinated to have eight local food trucks at the event, including the award-winning Poly Trolley. Anthony Iniguez, Poly Trolley Manager, said the Poly Trolley was very busy serving attendees all the way up until the time they had to close.

Additionally, Los Olivos made a 6-foot cake for the event. Executive Chef Arnold Zavalza and his team made three full-sized sheet cakes and iced them all together with white buttercream frosting to create one large celebratory cake. The cake consisted of three different flavors: white cake with vanilla custard filling, chocolate cake with chocolate mousse filling, and marble cake with Bavarian cream filling. Four rice paper decals with the 75th Anniversary logo were placed between the tagline “Honor the Past, Celebrate the Present, Build the Future.”

In order to support the weight of the 6-foot cake, Arnold constructed a 7’ x 2’ platform for the cake to rest on. With the support of the platform, Arnold and his team were able to deliver the cake to Bronco Commons safe and sound.

President Ortiz cut the first piece of cake.

Thank you Foundation Dining Services for helping make the 75th Anniversary Finale a tasty success!

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Foundation Financial and Employment Services Focus Group MeetingThe Foundation Financial and Employment Services Focus Group Meeting took place on Wednesday, June 4 at the Kellogg West Auditorium. The emphasis of the meeting was on improving communications and account holders’ understanding of policies and procedures as well as providing a forum to exchange ideas.

While many important topics were discussed during the meeting, two particularly noteworthy subjects were about the new wireless credit card terminals and the removal of sensitive information on Foundation forms:

Wireless Credit Card Terminals

The Foundation has wireless terminals available for your special event. Process your credit card transactions securely and efficiently from any location with full offsite POS mobility.

Wireless Terminal Features• Touch screen interface• Ergonomic compact lightweight design• User friendly

Two things required by the Foundation prior to loaning out the wireless terminal

1. Scheduling:• Arrange Pick Up date & time• Arrange Return date & time

2. Training:• Terminal training is required prior to operation and obtaining possession

Wireless terminal training through the Foundation is required prior to using the device. Please contact Christine He to reserve your event date and to schedule time prior to the event for training. Online access to scheduling and training will be available the first week of July.

If you have any questions, please email [email protected] or call 909-869-2941.

*Please note: The Foundation will no longer provide credit card imprinters and will not be accepting credit card imprinter slips for processing. If anyone has any credit card imprinter slips, please shred them to be in compliance with PCI standards.

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PRESENTER SUBJECT TIME

DAVID PRENOVOST Senior Managing Director/CFO

Fellowship and Stipend Notices Acknowledgement/ Other Changes for Forms and Agreements

9:00

HALEH MINAKARYGeneral Business Manager

Financial Services Updates/Year-End Deadlines 9:15

JASON DEBELLISAccounting Specialist

How to run Accounts Receivable Aging Report 9:30

KAREN SANDOVAL Financial Analyst

Accessing your Reports 9:45

RANDY TOWNSENDDirector Information Technology

PCI Compliance Update 10:00

DEBRA CHAVEZFinancial Systems Analyst

Wireless Credit Card Reader Usage 10:15

JOE BUSTAMANTEInformation Systems Analyst

OneSolution Access for Foundation Programs 10:30

DENNIS MILLER Chief Employment Officer/Managing Director

Current Topics in Employment Services 10:45

FOCUS GROUP MEETING AGENDA

Social Security and Tax Identification Numbers on Foundation Forms

Effective May 2014, all references to social security numbers and tax identification numbers were removed from Foundation forms.

If there is a vendor which you have not paid before and the expenditures relates to services, rents, and prizes/awards (i.e. speakers, maintenance fees, etc.), the Vendor Data Record Form (FS01105F) will be required to be completed by the vendor and faxed to Foundation Accounts Payable Department. The fax number that the form should be sent to is (909) 869-4549 and the vendor needs to address the fax to “Attention: Accounts Payable Department” to assure they get the form.

If this form is not faxed to us directly from the vendor at the time of payment, the payment will be held. If the form is not faxed to us in a timely manner, the payment forms will be returned to you to coordinate with the vendor.

These forms cannot be emailed as they contain sensitive information—it must be faxed.

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Construction Begins at Innovation Brew Works

Construction of Innovation Brew Works commenced in late May and is expected to continue until the first of August.

Evidence of the impending microbrewery at the Center for Training, Technology, and Incubation (CTTi) can be seen on the floor where Peet’s Coffee & Tea is currently located; the Innovation Brew Works logo is already etched onto the floor near the two entrances. The far back of the store is currently blocked off and concealed while the construction takes place. At present, trench drains and framing are being installed.

Barley is also beginning to be harvested at Spadra Ranch, which is about a mile from the Cal Poly Pomona (CPP) campus.

Once construction is completed, Innovation Brew Works will serve as a learn-by-doing brewery for CPP students as well as a brewery-restaurant.

Products produced at Innovation Brew Works will be sold at the brewery as well as on campus at the Collins College of Hospitality, Farm Store, Kellogg West, and Round Table Pizza.

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Barley is being harvested at Spadra Ranch for

Innovation Brew Works.

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Poly Trolley Nominated for CBORD Award

The Poly Trolley has been nominated for CBORD’s 2014 Excellence Awards, which honor two organizations and one individual in three categories based on innovative uses of CBORD solutions and service to the greater CBORD community.

CBORD, founded in 1975, is the world’s leading provider of campus and cashless card systems, food and nutrition service management software, integrated security solutions, nationwide student discount and commerce programs, and housing and judicial process management software. CBORD is the only provider that can offer such a broad portfolio of solutions designed to improve clients’ daily operations and help them provide their customers with greater convenience and satisfaction.

CBORD serves colleges and universities, healthcare facilities, supermarkets, continuing care facilities, corporations, and a host of other market segments. CBORD products and services are used by more than 6,000 organizations in the U.S., Canada, Europe, South Africa, New Zealand, the Middle East, and Australia. Today, they employ over 400 professionals around the world.

The Poly Trolley is nominated for the “Visionary Award,” which recognizes organizations for pioneering innovative or creative uses of CBORD solutions to better serve their customers. The Poly Trolley was nominated due its groundbreaking use of POS systems.

Northeastern University, The Christ Hospital, University at Buffalo, and Virginia Commonwealth University are also nominated for the Visionary Award.

All nominees will be recognized via an email announcement to the CBORD user community and the names will be displayed during CBORD’s awards gala at the User Group Conference in October. Winners will be announced during the awards gala.

Good luck to the Poly Trolley!

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Starbucks Customer Appreciation Week

Starbucks celebrated Customer Appreciation Week by conducting a raffle and awarding four winners. During the week of May 12-16, customers received a raffle ticket when they purchased any size Frappuccino. Winners were announced on Tuesday, May 20.

The first place prize was a $25 Starbucks gift card, which went to Lulu Adeyemi. Following Lulu was Jacqueline Oliva who won a retail item of her choice, Leslie Arnada who earned a $15 Starbucks gift card, and Patricia Aleman who won a pound of coffee of her choice.

Congratulations to all the winners! First place winner Lulu Adeyemi receives her $25 Starbucks gift card.

Kellogg West to Undergo Renovations

Kellogg West will undergo a few major renovations this summer to improve both comfort and aesthetic appeal.

First, Kellogg West will receive new air conditioning systems, which will significantly increase the efficiency and reliability of them in the main conference center and the Hillside and Woodview Buildings (which consist of meeting rooms and guestrooms).

The exterior of the Main Conference Center Building will see major changes (much like the Crestview Building that was revamped last summer). The building will get new paint and a new main entrance door. The outside seating area and dining room patio will also see improvements. The fountain, pond, trees, and planters will be removed

from the downstairs courtyard and will be replaced with a new waterfall, seating, and shade sails.

As for Kellogg West’s conference areas, they will get 100 new conference room chairs and the audio/video equipment will be upgraded.

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Bronco Bookstore’s Spring Clearance SaleThe Bronco Bookstore’s spring clearance sale kicked off on Monday, June 2 and concluded on Thursday, June 12.

All apparel and imprinted merchandise were 20% off and certain styles and lines were up to 50% off the original price. The extra-discounted clearance items were placed in boxes right in front of the store. Students seemed to particularly enjoy digging through the boxes full of merchandise until they found the perfect item.

The Bronco Bookstore also sold the remaining trade books from their general books department (except for the reference guides, study guides, Dover classics, and faculty-authored books, which they continue to maintain and sell.) The trade books were sold for 75% off the original price.

The spring clearance sale was a great success!

Farm Store Open All Summer

Good news! The Cal Poly Pomona Farm Store is open all summer every day from 10:00 a.m. to 6:00 p.m. There are numerous items to purchase and activities to enjoy including:

• CPP-grown fruits and veggies• Fresh-squeezed orange juice• 100% pure local honey• Grind your own peanut butter• Fun events and great gifts• Field trips and petting farm

For more information about the Farm Store, visit www.CPPFarmStore.com or call (909) 869-4906.

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Bronco Bookstore Hosts Two Grad Shops During CommencementFor the first time, the Bronco Bookstore opened two grad shops during the weekend of commencement. One grad shop was at its usual location in Campus Center across from Carl’s Jr. and the newer store was placed outside near the dining concession stand.

They had their usual selection of commencement and alumni-related giftware and apparel, as well as caps, gowns, tassels, sashes, and hoods for last-minute graduates.

The Bronco Bookstore worked with the Foundation’s MIS department to equip the outdoor grad shop with wireless credit card readers. The Foundation recently introduced wireless credit card terminals that enable you to process your credit card transactions securely and efficiently from any location with full offsite POS mobility.

Having two grad shops this year gave the Bronco Bookstore the opportunity to reach out to more customers and increase sales.

Charging Station Now Available at Bronco BookstoreThe Bronco Bookstore introduced its complimentary cell phone charging station in mid-May. This station can charge up to six cell phone devices at one time in six separate secure compartments. To get a free charge, all you need is a card with a magnetic strip (like your Bronco Access Card) to lock and unlock a specific locker. Students, faculty, and staff can use this service during the Bronco Bookstore’s hours of operation.

For hours of operation, visit www.BroncoBookstore.com.

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CPPF Wins Award for Power Couple ContestThe Cal Poly Pomona Foundation (CPPF) was recently recognized by Graphic Design USA Magazine (GD USA) with an American Inhouse Design Award. CPPF won in the “Posters” category for the Bronco Bookstore’s Power Couple Photo Contest series, designed by Marketing Coordinator Lily Ly.

The American Inhouse Design Awards were established to recognize extraordinary work by design, marketing, and communications departments within corporations, publishing houses, nonprofits, universities, and government agencies. For over five decades, GD USA has sponsored competitions showcasing commitment to thoughtful design that brings value to businesses and institutions. For this year’s competition, more than 4,000 entries from all across the country were considered and only a highly selective 15% were recognized with a Certificate of Excellence.

The Power Couple artwork will be published in an upcoming issue of GD USA Magazine later this summer.

The Power Couple Photo Contest took place in January 2014. Students entered the contest by uploading a picture of him- or herself with a partner onto the Bronco Bookstore’s Facebook page. Partners could have been a significant other, friend, parent, sibling, or even a pet—anyone that makes them a “power couple.” Winners were announced in February.

For more information about GD USA, visit www.gdusa.com.

To visit the Bronco Bookstore Facebook page, visit www.Facebook.com/BroncoBookstore.

Foundation Employees Recognized in Video ContestCongratulations to Marketing Coordinators Darren Isomoto and Lily Ly on receiving 2nd place in Cal Poly Pomona’s (CPP) 75th Anniversary Video Contest for their video “Experiences.” The contest asked for participants to make a video about his or her CPP experience on YouTube, Instagram, or Vine. Videos were judged on creativity, originality, storytelling, emotional value, reflection of theme, and technical excellence. Darren and Lily received a $100 gift card.

To view the winning videos, visit http://bit.ly/1rEaXYv.

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Schedule of New Grants

Project Title Awarding Agency New Awards College/Division Project Director

MWD Student Services Metropolitan Water District

245,000 Academic Affairs Michael Millar

Three Strategies to Improve STEM Graduation Rates

National Science Foundation

161,274 Engineering Winny Dong

Methods of Development of Tamarixia Radiata Used for Asian Citurs Psyllid

Citrus Research Board 62,245 Agriculture Valerie Mellano

Supporting Educational Programs in Transportation Engineering and Planning

The Regents of the University of California

74,946 Engineering Xudong Jia

CIRM Bridges Program California Institute for Regenerative Medicine

521,059 Science Jill Adler-Moore

JPL Methane Sniffer Field Test Jet Propulsion Laboratory 20,000 Engineering Subodh Bhandari

Construction Engineering Technology Program

State Contractors License Board

24,194 Engineering Yasser Salem

1,108,718

May 31, 2014

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Foundation Board Approves Largest Operating Budget

The Foundation would like to extend a very special thank-you to the Board for approving the 2014-15 operating budget—the largest budget ever approved by the Board.

The proposed operating revenues of $79.4 million offset by the expenditures of $65.7 million generate a net surplus of $13.8 million. The proposed operating budgeted revenues are projected to increase $4.7 million or 6.2% over the current year budget due to Investments, Enterprise Activities, Supplemental and Restricted Programs. The proposed debt service coverage (net surplus, designated gifts, depreciation and interest expense) generates a proposed coverage of 4.35 and 3.53 before and after the designated gift respectively. The proposed debt service coverage exceeds the CSU’s requirement for debt coverage ratio of at least 1.25.

The proposed operating, non-cash transactions including depreciation and amortization, financing and uses of reserves, generates $8.8 million from the following activities:

• Operating surplus • Designated Gifts to the University• Non-cash depreciation and amortization• Non-cash retirement medical • Financing • Reserves• Total cash generated

The proposed uses of cash of $7.7 million are for the following activities:

• Capital improvement requests• Capital improvement carry forward• Principle bond payments• Contributions to reserves • Total cash used

The proposed capital budget request of $3.3 million assumes funding of $1.5 million from the Capital Reserve, $96,902 from the Residential Board Meal Program Surplus Reserve and $2.9 million from operations.

For your reference, the 2014-15 Budget and Business Plan is available on the Foundation’s website. If you have any questions or would like additional information please contact David Prenovost, Senior Managing Director/Chief Financial Officer at ext. 2948 or [email protected].

$ 3,684,509 (1,777,109)

4,528,476614,273300,000

1,452,900 $ 8,803,049

$ 3,297,4001,066,636

820,0002,516,362

$ 7,700,398

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Resolution Number

Document Subject Brief Description of Resolution

438 2013-2014 External & Financial Single Auditor Selection

BOD approves retaining Vicenti, Lloyd and Stutzman to perform the financial and single audits for the fiscal year ended June 30, 2014

439 2013-2014 Child Care Auditor Selection BOD approves retaining GYL Decauwer, LLP to perform the financial and single audits for the fiscal year ended June 30, 2014.

440 Investment Report-3rd Quarter 2013-2014 The Foundation’s Endowment and General Investment Policies 130 and131 requires a comprehensive quarterly report of the investment portfolios performance be provided to the Investment Committee and Board of Directors at a regularly scheduled meeting. Foundation management believes that the quarterly investment reports are in compliance with the investment policies and recommends the quarterly investment reports be approved.

441 Election of Officers for 2014-2015 BOD approves the slate of officers presented by the Nominating Committee for the fiscal year 2014-2015

442 2014-2015 Budget BOD approves the Proposed Operating and Capital Budgets for fiscal year 2014-15 and forecasts for fiscal year 2013-14 for General Activities, Enterprise Activities, Supplemental Programs, Designated Gifts, Reserves and the long-range cash plan/reserve

443 PARS 457 Plan Vacation/Sick Leave Conversion Program

BOD has reviewed the surplus, reserves and debt service coverage and approves the funding for the PARS Vacation/Sick Leave Conversion Plan of Cal Poly Pomona Foundation, Inc. effective July 1, 2014.

Resolutions Passed at Recent Board Meeting #359

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Unaudited Financial Statement Highlights – April 2014

Monthly Budget

Monthly Actual

Monthly Variance

Y T D Budget

Y T D Actual

Enterprise ActivitiesBookstore 250,221 388,052 137,831 420,851 447,056 Dining Services 224,752 315,501 90,749 231,427 925,011

Kellogg West Conf. & Hotel 23,581 29,191 5,610 (20,032) (33,905)University Village Housing 323,458 502,096 178,638 1,233,405 1,012,428 Subtotal: 822,012 1,234,840 412,828 1,865,651 2,350,590

General ActivitiesFoundation Administration (66,535) (179,318) (112,783) (911,798) (940,621)Real Estate Development (7,021) (14,410) (7,389) 233,739 365,410 Investments (69,490) 71,692 141,182 421,720 1,893,648 Building Rental 10,685 13,649 2,964 105,562 116,483 Subtotal: (132,361) (108,387) 23,974 (150,777) 1,434,920

Designated Funds (125,008) (147,992) (22,984) (1,206,034) (784,495)

Other ActivitiesResearch Office 3,763 2,095 (1,668) 38,075 20,960 Agriculture (54,675) (101,988) (47,313) 127,303 13,791 Continuing Education (17,955) 430,387 448,342 668,534 1,124,707

Fdtn Programs-Unrestricted 0 (6,197) (6,197) 0 271,217 Subtotal: (68,867) 324,297 393,164 833,912 1,430,675

Net Surplus/ (Deficit): 495,776 1,302,758 806,982 1,342,752 4,431,690

EXECUTIVE SUMMARYThe purpose of this article is to provide information related to the unaudited financial performance of the Foundation for the month of April 2014. The Foundation generated a surplus for the month in excess of the budgeted mainly due to Continuing Education, University Village Housing, Investments, and Bookstore.

ENTERPRISESSummary – For the month ended, the Enterprise operations generated a surplus greater than budgeted due to all four operations out performing their respective budgeted surplus.

Bronco Bookstore – Revenues exceed budget by 28% or $483,723 mainly due to spring rush and Grad Fair. Most revenue categories exceeded budget, including hardware sales due to a University Apple order. We appreciate the University’s Apple order and the President’s request that what you spend on campus stays on campus. Cost of goods is 68% versus 69%; payroll and expenditures are 13% versus 15% of revenues.

Dining Services – Revenues exceed budget by 13.4% or $256,554. These revenues consist of 59% from retail and 41% from board operations; cost of goods sold is 36% versus 37% of revenues, salaries and expenditures are 49% versus 51% of budgeted revenues. Retail revenues exceed budget by 20% or $216,121; cost of goods is 38% in line with budget, salaries are 24% versus 28% of budget, and expenditures are 22% versus 24% of budget, generating a surplus of $193,754 versus $104,661 budgeted. Board operation revenues exceed budget by 5% or $40,433; food costs are 34% versus 35% of budget, salaries are 20% versus 22% of budget, and expenditures are 32% versus 28% of budget, generating a surplus of $123,466 versus a budget of $122,286.

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Kellogg West Catering/Dining – Revenues exceed budget by 65% or $86,030, cost of goods is 26% versus 32%, salaries are 34% versus 51%, and expenditures are 21% versus 25% of revenues, generating a surplus of $42,352 versus a budgeted deficit $10,862.

Kellogg West Conference Center & Hotel – Revenues are 90% or $16,409 short of budget, salaries are 31% versus 33%, and expenditures are 51% versus 54% of revenues, generating a surplus of $29,191 versus $23,581 budgeted.

University Village – Revenues exceed budget by 21% or $199,346, salaries and expenditures are 55% versus 65% of budget, generating a surplus of $502,096 versus $323,458 budgeted mainly due to annual re-licensing application/facility fees exceeding budgeted revenues. GENERAL ACTIVITIESGeneral Activities include administration, rental operations, real estate development, investments and faculty staff housing reported a deficit less than budgeted mainly due to investments offset by administrative expenses exceeding budget due to the EPO medical cost of the self-funded plan exceeding the expected plan cost.

DESIGNATED EXPENSESFor fiscal year 2013-14 Designated Funds generated a deficit less than budgeted due to expenditure savings.

OTHER ACTIVITIES

Sponsored Research year-to-date 2013-14 generated a surplus of $20,960 versus a budget of $30,549; indirect revenues are 84% or $165,801 short of budget, and direct grant expenditures are 92% or $721,174 short of budget, generating an effective rate of 11.04% versus the budgeted rate of 10%.

Agriculture-Aid-to-Instruction year-to-date 2013-14 revenues are 90% or $277,207 short of budget, cost of goods is 19% versus 24% of budget, and payroll and expenditures are 80% versus 72% of budget, generating a surplus less than budgeted due to the activities of the Agronomy Farms and Arabian Horse Center, offset by the Beef Program, Pine Tree Ranch, and Farm Store.

Continuing Education includes nine programs from the College of the Extended University, College of Engineering, and College of Science. Revenues for the fiscal year 2013-14 exceed budget by 20% or $651,278; payroll and expenditures are 71% versus 79% of budget, generating a surplus in excess of budgeted due to Administration, CPELI Camps, and Standard offset by ED2GO and Global Education Programs.

Foundation Programs–Unrestricted includes the activities that are not third party donor imposed stipulations. Revenues for the fiscal year 2013-14 exceed budget by 4.7% or $28,308 and are 99% or $3,397 short of budget and 98% or 16,162 short of prior year; expenditures (excluding Transfers to the University # 7344) are 61% or $259,563 short of budget and are 60% or $271,638 short of prior year, generating a year-to-date surplus versus a zero budget.

If you have any question or need additional information, please contact David Prenovost at [email protected] or call (909) 869-2948.

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www.foundation.csupomona.edu