Finance & Investment Committee FY2017/2018 1st Quarter Results October 20, 2017

FY 2017/2018 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 2017/2018 First Quarter Financial Overview Operating results behind Plan Slow semester start revealed a lost week Budget Variances as Month-end was 9/23/17 Sales $856,373 (8.5%) behind plan Textbooks down $474,720 (11.1%) from budget Retail Dining down $364,380 (19.2%) Residential Dining included $295K Welcome Week Standard pay occupancy at 2,458 vs 2,562 last year COG/Margin rates in line with plan BKS Bank cards not budgeted in Q1 $195K Coke Sponsorship accrued in Sept Housing Welcome week billing of $295,991

FY 2017/2018 First Quarter Financial Overview (cont’d) Accrued Coke Sponsorship as planned Cash flow of $153K for Q1 Investment Portfolio gain of $510K PERS Payment of $276,412K Major Capital Expenditures still pending Minimum wage impact pending Cash Flow $200K behind Plan

Operating Statement Summary September Results Credits & Revenues missed budgeted Coke Sponsorship funding

Operating Statement Summary 1st Quarter Results Credits & Revenues missed budgeted Coke Sponsorship funding

Operating Statement – Division Recap September and 1st Quarter Results Credits & Revenues missed budgeted Coke Sponsorship funding

Current Year Expenditures of $337,014 FY2017/2018 Q1Capital Status Current Year Expenditures of $337,014 $217,000 to campus for Bookstore A/C project Project in progress – Campus billing complete $41,436 for Papa John’s Pizza Received $5K credit for meeting implementation deadline $55,570 for Outpost Patio Furniture $13,225 Camera installation Major Projects Pending Outpost Patio Starbucks Japanese Garden

Capital Expenditure Status FY 2017/2018 September YTD Bookstore A/C Amazon and USU EBT Projects completed - Awaiting final invoicing from campus

Morgan Stanley (MSSB) Portfolio FY 2017/2018 Performance Portfolio up $413,185 (4.6%) for the Quarter

Student Managed Investment (SMIF) Portfolio FY 2017/2018 Performance Portfolio up $10,105 (6.8%) for the Quarter $240K up since 9/30/11

Financial Statements Overview September 2017 Investment Report Cash/Investment down $1.6M from last year Fall Housing Receipts pending $1.7M Pending payments – Publishers, Sales Tax Balance Sheet Inventory down $370K, A/P down $500K A/R up $800K $600K Herff-Jones payment in October Cash Flow Statement September/Q1 Cash Flow of $1,365K/$153K Driven by investments PERS GASB 68 Payment of $276,412 in July Awaiting Housing Meal Plan payment

Investment Designation Report September 2017 PERS GASB 68 Payment of $276,412 in July $500K Herff-Jones A/R pending collected 10/10/17 Housing A/R after September $300K+ pending for Athletics, Housing, Campus Sales tax due.

Balance Sheet – September 2017 Cash down from last year Fall Housing payment ($2.7M) pending in October A/P payables due. $1.6M Herff-Jones $600K collected in October

Cash Flow – September 2017 September/Q1 Cash Flow of $1,365,043 and $153,462. Driven by Investment $323K PERS Payment

September 2016 & 2017 Q1 Year-to-Year Comparison Q1 results behind last year Sales and O/I trailing in all key areas Residential occupancy down 100 Margins only .3 point lower Labor up ahead of min wage increase Investments up $100K

September Operating Statement Year-to-Year Comparison