1. ASMI ALL HANDS MEETING FISCAL PRESENTATION FOR FY2019
I am Becky Monagle, Finance Director for ASMI. I want to introduce the rest of the fiscal team. Most of you know Matthew Arnoldt who coordinates your travel arrangements for this meeting and Michelle Kaelke is the new Accountant who started at the end of December.
Becky Monagle, Finance Director

2. SUMMARY FY19 (July 1, 2018 – June 30, 2019)
Compare FY19 to FY20 (July 1, 2019 – June 30, 2020)
Forecasting industry assessment
I have a short presentation today to show some financial information for ASMI.
We will see where we ended up the fiscal year for FY19 both in total and by program. Remember that FY19 is from July 1, 2018 through June 30, 2019.
We will compare FY19 and FY20 with our authorization amounts and budgets by program.
We will look at what we collected in FY19 for the voluntary industry assessment and look at what is estimated for FY20

3. FY19 TOTALS (IN THOUSANDS) JULY 1, 2018 – JUNE 30, 2019
Total FY19 Exp
Total
$15,463.7
Personal Services
$ 2,182.3
Travel $
Contractual
$12,486.3
Commodities $
Capital Outlay $
Fund Source
Total
$15,463.7
SDPR
$11,211.4
Fed Receipts
$ 4,252.3
This slide is showing the total FY19 Expenditures and Revenues since the fiscal year has now closed. Monies spent totaled $15.5M. Expenditures and revenues always need to match at year end for our appropriations. Any excess revenues are forwarded to the next fiscal year. The final FY19 board approved budget, was $16 million so the balance remaining is approximately a half a million.
You can see the revenue sources that support the expenditures were $4.2 million in federal receipts and then the difference is $11.2 million in SDPR which is the Statutory Designated Program Receipts or the voluntary assessment that comes from industry.
The amount that was carried forward from FY19 to FY20 was $16, This is calculated from total revenues minus total expenditures for the fiscal year.
Prior carry forward amounts are:
FY18 to FY19 = $18,042.2
FY17 to FY18 = $19,065.2
FY16 to FY17 = $18,846.0
FY15 to FY16 = $19,217.0
FY14 to FY15 = $19,378.5
FY13 to FY14 = $16,981.5
FY12 to FY13 = $15,946.7
FY11 to FY12 = $ 9,809.8
This is calculated from total revenues (inclusive of prior year CF amts + new revenues) minus total FY expenditures.

4. FY19 TOTAL BY PROGRAM Program FY19 Budget FY19 Expenditures Difference
Exec Office/Admin
$ 2,000.0
$ 1,821.4 $
Communications $ $ $
Technical $ $ $
Retail
$ 1,910.0
$ 2,012.4
$ (102.4)
Foodservice
$ 1,950.0
$ 1,828.9 $
International
$ 6,750.0
$ 6,737.3 $
Global Food Aid $ $ $
Sustainability/RFM $ $ $
Consumer PR $ $ $
FY19 TOTAL
$16,000.0
$15,463.7 $
Here is the FY19 budget by program. The $16 million budget was approved by the Board of Directors at the May 2018 meeting. This also reflects the actual expenditures spent in each of the categories or programs identified.
You will see some programs did not spend their entire budget. This is not unprecedented. This is due to currency fluctuations and staff & contractor turnover in FY19. While each program endeavors to spend its full budget, we must also spend our budgets responsibly and conservatively.

5. REVENUES FY19 vs FY20 Revenue Authorization FY19 TOTAL $20,569.9 SDPR
$16,069.9
Fed Receipts
$ 4,500.0
FY20
TOTAL
$26,367.8
SDPR
$16,069.9
Fed Receipts
$10,297.9
This shows you the ASMI authorization which allows the organization to spend, if we have enough cash in the fund. So the increase in the federal receipt authority is due to the fact that we received an increase in the MAP (Market Access Program) grant award for FY20, along with Cochran Mission funds PLUS the Agricultural Trade Promotion Program (ATP) grant which was $5.5 million over the next 3 years. Not all of this will be spent in FY20 but the authority was set up for the original amount in this year. In August of 2019, ASMI received another $2 million for ATP funds, however, we are going through the process of obtaining legislative authority in our budget so that is not reflected in the above federal receipt authority number.
SDPR is our statutory designated program receipts which are the fish taxes
Federal receipts are for the USDA Market Access Program grant for the international program
FY19 is the first year not receiving GF from the State.
FY15 Total GF & GF Match = $7,383.6
FY16 Total GF & GF Match = $4,929.0
FY17 Total GF & GF Match = $2,000.0
FY18 Total GF & GF Match = $1,000.0
FY19 Total GF & GF Match = zero
Difference between FY17 and FY18 = $1,000.0 reduction
Difference between FY16 and FY17 = $2,929.0 reduction
Difference between FY15 and FY16 = $2,285.9 reduction

6. FY19/FY20 BUDGET BY PROGRAM
Inc/Dec
Exec Office/Admin
$ 2,000.0
$ 2,135.0 $
Communications $ $
$ ( 60.0)
Technical $ $ $
Retail
$ 1,910.0
$ 1,800.0
$ (110.0)
Foodservice
$ 1,950.0
$ (150.0)
International
$ 6,750.0
$ 9,585.6
$ 2,835.6
Global Food Aid $ $
$ ( 10.0)
Sustainability/RFM $ $
$ (120.0)
Consumer PR $
$ 1,020.0 $
TOTAL
$16,000.0
$18,585.6
$ 2,585.6
This slide compares the FY19 budget to the FY20 budget by program. At the May board meeting, the board approved a reduction of $250,000 in the FY20 budget for programs supported by the Statutory Designated Program Receipts (SDPR). While this slide may be confusing because the budget is actually increasing by $2.5 million, this has to do with the federal grants awarded to the international program.
As I stated before, the international program had an increase in MAP funds for FY20 in the amount of $4,517.3 which exceeded our original authority for federal funds of $4,500.0.
In March of 2019, the international program also received a new federal grant called the Agricultural Trade Promotion Program which increased the international budget by over $5.5 million over the next 3 years (through September 2022) and only requires a 10% match. So, the increase in the FY20 budget amounts reflect the increase in both federal grant programs plus a small amount for two Cochran Missions held this fiscal year.

7. This slide comes from the Department of Revenue and identifies the voluntary assessments by quarter. The total amount received for FY19 is just over $10 million.
FY19 TOTAL = $10,042,139.50

8. ACTUAL & ESTIMATED MARKETING TAX REVENUE
Fiscal Year
ASMI Marketing Tax Realized Revenue
FY 2015
$ 9.47 M
FY 2016
$ 9.68 M
FY 2017
$ 9.57 M
FY 2018
$ 9.86 M
FY 2019
$ 10.0 M
FY 2020 Estimated
$ 9.8 M
FY 2019 vs 2020 Est. Difference
Down ~ $200,000
This shows the past five years of revenues received and an estimate of FY20. The McDowell Group has projected revenue of about $9.8 million in FY20, or a reduction of about $200,000 from FY19’s actuals.

9. THANK YOU!
If you have further questions about my presentation or the numbers that were presented, please catch me during the next couple of days.