1. Finance & Investment Committee FY2016/2017 3rd Quarter Results
April 21, 2017

2. FY 2016/2017 Third Quarter Financial Results
Financial Overview
Summary Operating Statement
3rd Quarter and March YTD Results
Investment Results
Capital Expenditures
Financial Statements
March Year-over-Year Comparison
Minimum Wage increase in January

3. FY 2016/2017 Overview 3rd Quarter Status
3rd Quarter Results are down from Budget
Spring Rush volumes lower than planned
Bookstore Sales down $417K from Budget
Text Units trending down
Rush units down 8% from last year
Rental at 34% of volume
Residential Dining Meal Plans down 100
Expenses in line with Plan
Investment gain of $474K
December
Typically a low volume quarter
See monthly detailed reports
Error not Shops fault and Disproportionate sharing allocation
- Shops averaging 3.5% Operating Contribution (after G&A) and 4% Net Contribution
Requires an additional $6.5M in sales to make this up.
Housing Budget of $18,448,431 29% Margin ($4,180,817)
Requires only an additional $775K in sales

4. Operating Statement Summary 3rd Quarter Results

5. Spring Rush Textbook Unit Trend
Update to this year
34% of Books rented. Total year last year also at 33%
Down from 40% rush the previous year.
Sales Rentals Totals
1/1/ ,608 8, ,708
1/1/ , , ,220
1/1/ , , ,192
1/1/ , , ,656
1/1/ , , ,691
1/1/

6. FY 2016/2017 Overview Year-to-Date Status
Sales down $1,386,832 (4.6%)
Bookstore down $837,163 (7.1%)
Rush units down 8% from last year
Rental at 34% of volume
Computer Store up $213,891 (12.8%)
Food Services Impacted by Meal Volumes/Pricing
Cost of Goods running 1.5% better
Expense/Labor in line with plan
Investment gain of $813K
Capital Expenditures within plan at $676K

7. Operating Statement Summary March 2017 and YTD Results

8. Investment Summary Third Quarter positive throughout
$474K Gain
Post Election run-up
SMIF and MSSB trending alike
VEBA Balance (off-Balance Sheet)
$4,768K balance (as of 3/31/17)
Funded $3,950K
April payment will be the last

9. MorganStanley Portfolio FY 2016/2017 Performance
Investment Portfolio up a cumulative $751,882 (9.4%) for the year
3rd Quarter up $469,397

10. SMIF Portfolio FY 2016/2017 Performance
ETF - A security that tracks an index, a commodity or a basket of assets like an index fund, but trades like a stock on an exchange. ETFs experience price changes throughout the day as they are bought and sold.
Because it trades like a stock, an ETF does not have its net asset value (NAV) calculated every day like a mutual fund does.
Investment Portfolio down $11,052 (8.1%) for the year
3rd Quarter up $4,275

11. VEBA TRUST PERFORMANCE (Off-Balance Sheet)

12. Current Expenditures on plan at $692,109
FY2016/2017 Capital Status
Current Expenditures on plan at $692,109
$532,892 Amazon completion (Total $669,405)
$48,647 USU EBT Project ($47K Budget)
$51,101 of prior year carry over
Terminations/Deferrals
Food Truck eliminated due to regulatory needs
Outpost Patio deferred until FY17/18
$30K Starbucks Library Licensing fee Pending

13. Capital Expenditure Status FY 2016/2017 March YTD
Amazon Locker Complete
A/C Updates
Small items per ongoing plan
Simplex Pending
Food Truck and Outpost Patio Pending

14. Financial Statements Overview March 2017
Investment/Cash Designation Report
Holdings up due to Investment gains/Loan payment
VEBA at $3.95M Off-Balance Sheet
Balance Sheet
Inventory up $600K – Textbook returns pending
A/R down $300K
Last year included$500K Athletics loan)
A/P up $500K
Cash Flow Statement
Operating Cash flow of ($468K) March/$1.6M YTD
$500K from Track Loan repayment
Inventory & A/R Textbook related
A/P - $100K Food, $300K Merchandize, $
December
Done
Cash per Investment report – Up $1.1Mfrom last year
- $500K Track reimbursement
-$485K Investment gain 11 months
A/R includes $400K+ of Veteran Sales. Athletics loan now paid leaving total same.
AP down $500K
Inventory same
long term liability up due to OPEB actuarial
Cash per Investment report, Up over last year.
A/R up $600K due to $500K Athletics loan
Inventories same
Accrued Payroll up $120K
Other Liabilities $200K, campus accruals
AP up $100K
Inventory slightly up due to less rentals and Text Volume decrease
A/P balance due to generous Publisher terms and Text Inventory Management
Capital closures pending for Roof/Fire Alarm

15. Investment Designation Report March 2017
December
Investments trending Upward
Payment for Housing pending
Sales tax due

16. Balance Sheet – March 2017 December
Cash per Investment report – Up $1.1Mfrom last year
- $500K Track reimbursement
-$485K Investment gain 11 months
A/R includes $400K+ of Veteran Sales. Athletics loan now paid leaving total same.
AP down $500K
Inventory same
long term liability up due to OPEB actuarial

17. Cash Flow – March 2017
Capital expenditures on plan
Investment impact

18. March 2017 & 2016 Year-to-year OS Comparison
Sales down $1,386,832 (4.6%)
Bookstore down $837,163 (7.1%)
Rush units down 8% from last year
Computer Store up $213,891 (12.8%)
Food Services Impacted by Meal Volumes/Pricing
Spring Meal plans down 100 from Fall and last Spring
Cost of Goods running .2 points behind but holding margins
Labor up as anticipated due to min wage
Investment turn around is primary difference
December
COG weighted by Food Service – Current Year vs Last Year and 2014
83.0% vs 81.3% vs 84.5% (2014) - Computer Store
28.7% va 28.0% vs 29.9% (2014) - Food
57.6% vs 60.3% vs 61.0% (2014) - Bookstore
March 2016
COG/Margins skewed by low Computer Margins
Food 1.8
Bookstore 1.6Improved margins on higher volumes
Rental trend impact

19. 3rd Quarter Year-to-Year Comparison

20. March Operating Statement Year-to-Year Comparison