Board of Directors FY2015/2016 1st Quarter Results November 20, 2015 Recap

FY 2015/2016 First Quarter Financial Summary Operating Income on plan Sales off plan by 4.7% but 4.7% over FY14/15 Bookstore Sales down 6.9% (1.7%) Text Rentals at 36.3% Food sales up 4.0% and 18.0% respectively Maintaining Margins Labor/Expense in line with expectation Sales Bookstore down 6.2% from Budget and 1.4% from last year Food Service up 4.0% and 18%, Cash 10.8% over last year George’s and Beachwalk open since Fall

FY 2015/2016 First Quarter Financial Summary (cont’d) Overall Negative Net Contribution of $162,551 $676,871 and $280,971behind Plan and last year Investment Portfolio down $600K Negative Cash Flow of $289K for quarter PERS Unfunded liability Payment of $195,533 Capital Expenditure of $158,651 Major projects in progress as planned Unbudgeted Nugget Fryer - $25,943 Additional requirements pending Investments $1.5M xferred Down $600K Recaptured $400K of investments Smith down 8.4% and SMIF down 12.3% Capital Major projects Nugget Walkway (complete, Camera System, and Accounting upgrade Plans pending for Amazon PCI Cost Increase for registers (XP POS no longer supported)

Operating Statement Summary 1st Quarter vs Budget & Prior Year Credits & Revenues included Coke Sponsorship funding

Finance & Investment Committee FY2015/2016 1st Quarter Results October 23, 2015

FY 2015/2016 First Quarter Financial Results Financial Overview Summary Operating Statement September and First Quarter Results Sales Assessment Investment Results Financial Statements September Year-over-year Comparison

FY 2015/2016 First Quarter Financial Overview Operating results behind Plan Sales behind plan by 4.7% Bookstore down 6.2% from budget Food Service up 4.0% Operating Income on target Investment Portfolio down $600K Capital Expenditure Increase planned Negative Cash Flow of $289K for quarter -Textbook, Computer Store volumes down. ID Card Sales were a timing benefit. Budgeted later.

Operating Statement Summary September and 1st Quarter Results Credits & Revenues included Coke Sponsorship funding

FY 2015/2016 First Quarter Bookstore Sales Assessment Slow Semester start for retail activity Bookstore Sales behind plan by $409K (6.9%) Down just 1.7% from FY14/15 Textbooks down $490K (10.2%) from budget Rush Volumes down 2% with Rentals trending upward C-Stores activity flat at $574K Sales .6% over plan and 1.9% over FY14/15 Computer Store down $189K (22%) Up $30K (4.7%) from FY14/15

Text Book Volume Trend

Text by Type % Trend

Text Book Unit Trend 3 Week Rush Period

FY 2015/2016 First Quarter Food Sales Assessment $131K (4.0%) over budget $531K (18.7%) over last year George’s & Beachwalk both open Residential Dining rate increase Residential Dining at full occupancy – 2,693 Maintaining margins COG at 29.2% - 1 point above budget and FY14/15 Old data 2014-15 Board Plans Board Rate 7 day all access $3,800.00 New Offering 19 meals/week with $100 flex/semester $3,600.00 New Offering 19 meals/week $3,400.00 210 block/semester $3,200.00 10 meals/week with$150 flex/semester $3,150.00 New Offering 10 Meal Plan $1,290 $1,330  = $2,660 NET  $2,850 NET 19 Meal Plan $1,505  $1,550  =$3,100 NET  $3,400 NET 210 Block Plan $1,395  $1,435 =$2,835 NET 

Current Year Expenditures of $158,651 Unbudgeted Items up for approval FY2015/2016 Capital Status Current Year Expenditures of $158,651 Unbudgeted Items up for approval Nugget Fryer,$25,943, inadvertently left off Budget Outpost A/C Controller completed post June Larger Projects in works or pending invoicing Nugget Walkway - $70K Accounting Infrastructure upgrade - $85K Camera System - $150K Amazon impact unknown at this time

Capital Expenditure Status FY 2015/2016 September YTD BI 360 and Cameras Pending

SMIF Portfolio FY 2015/2016 Performance Portfolio down $17,573 (12.3%) for the Quarter $240K up since 9/30/11

Smith Barney Portfolio FY 2014/2015 Performance Net portfolio decrease of $564,904 (8.4%) Additional Investment of $1.5M in Q1 11% invested in Alternatives vs 15% cap

Financial Statements Overview September 2015 Investment Report Cash/Investment down $135K from last year $1.5M transfer from Cash to Investments $600K Investment loss YTD ($200K recovery in Oct) $500K Pending payments for Athletics, Sales Tax, Capital Balance Sheet Cash per Investment report A/R up $800K over last year - $500K Athletics loan Inventory up just $160K, A/P down $100K PERS added to Long Term Liability Cash Flow Statement September/Q1 Cash Flow of $517 Negative $289K YTD due to loss from Investments PERS GASB 68 Payment of $195,433 in July $1.5M from cash to Investment accounts. Downturn in Investment Portfolio for Q1 ( Cash down $135K from last year ($11.8M  $11.7M). Investment Income down $600K YTD $500K+ pending for Athletics, Housing, Campus Sales tax due campus payment for Res Dining hit in Sept again BALANCE SHEET Cash down $150K from last year ($11.8M  $11.7M). Fall Housing payment ($2.5M) received in September again this year - In turn Other Accrued Liabilities are up by $2M from last year. A/R up $800K - $500K is Athletics loan. Text/Rebates $200K and Inventory up by $160K rom last year, In turn A/P down $100K Pending Capital payments Monthly VEBA funding of $50K chipping away at Post Retirement but PERS now added to the mix. CASH FLOW September/Q1 Cash Flow of $517K but negative $289K YTD $600K Investments/Interest lost Minimum Capital Expense Monthly VEBA Funding

Investment Designation Report September 2015 PERS GASB 68 Payment of $195,433 in July $1.5M from cash to Investment accounts. Downturn in Investment Portfolio for Q1 ( Cash down $135K from last year ($11.8M  $11.7M). - In turn Other Accrued Liabilities are up by $2M from last year. Investment Income down $600K YTD $300K+ pending for Athletics, Housing, Campus Sales tax due

Balance Sheet – September 2015 Cash down $150K from last year ($11.8M  $11.7M). Fall Housing payment ($2.5M) received in September this year - In turn Other Accrued Liabilities are up by $2M from last year. A/R up $800K - $500K is Athletics loan. Text/Rebates $200K and Inventory up by $160K rom last year, In turn A/P down $100K Pending Capital payments Monthly VEBA funding of $50K chipping away at Post Retirement but PERS now added to the mix.

Cash Flow – September 2015 September/Q1 Cash Flow of $517K but negative $289K YTD $600K Investments/Interest lost Monthly VEBA Funding

FY 2014 & 2015 Year-to-Year September YTD Comparison Q1 results tracking ahead of last year Sales flat other than Food Services Food Services up 18% Textbooks down 4.9% Margins a point better across the board Awaiting second half minimum wage impact Investments headed in opposite direction

September Operating Statement Year-to-Year Comparison