2018 December Board Book

California Milk Advisory Board Comparative Statement of Income and Expenses As of October 31, 2018

ACTUALS

ACTUALS

BUDGET

Year To Date 10/31/2018

Year To Date 10/31/2017

Year Ending 12/31/2018

Revenue Assessment Income

33,536,674.97 $

86% 33,449,385.72 $

86% 39,000,000.00 $

Non-Assessment Income

195,438.79

51%

438,943.06

100%

385,000.00

Total Revenue

33,732,113.76

86% 33,888,328.78

86% 39,385,000.00

Program Expenses Advertising Communications

13,760,514.54 2,832,302.41 3,010,830.89 608,121.95 3,959,172.33 814,648.35 451,986.94 412,707.30 277,095.56

73% 12,943,755.77 80% 2,873,558.51 55% 3,533,079.69

71% 18,955,000.00 71% 3,529,000.00 57% 5,497,000.00 33% 1,550,000.00 67% 5,450,000.00 91% 1,085,000.00

Business Development

Foodservice International Tradeshows

39%

570,600.84

73% 3,884,266.00

75% 74%

984,533.08 226,876.71 369,498.72 310,516.02

Processor Relations Industry Intelligence Producer Relations

67% 92% 68%

610,000.00 400,000.00 456,904.00 48,000.00

103%

61% 31%

Education and Community Relations

14,735.31

6,460.97

4%

Dairy Research Foundation

1,942,096.00

100% 1,950,000.00

100% 1,942,096.00

Operation Expenses Office Operational Accounting System

307,822.51 22,693.83 208,061.60 37,744.27 106,991.99 103,046.83 23,943.24

101%

293,084.01

99%

305,000.00

Rent

84% 80%

221,097.15 44,826.13 52,789.70 84,641.68 23,819.73

92%

248,600.00 47,000.00 75,000.00 140,000.00 40,000.00 30,000.00 40,000.00 45,000.00 100,000.00 740,000.00 55,000.00 85,000.00 30,000.00 90,000.00 25,000.00

Travel & Automobile

100%

Legal

143%

70% 63% 60%

Insurance - Employee

74% 60%

Freight & Postage

Automobile Purchase Liability Insurance Money Investment Plan Admin Salary & Wages Board Travel Expenses Board Meeting Expenses Retirement Plan

-

0%

-

0%

32,655.00 29,922.25

82% 66%

38,578.00 36,300.33

96% 91%

-

0%

-

0%

551,448.74 57,390.12 49,408.06 24,475.00 41,040.36 15,800.00

75%

623,255.56 44,230.47 53,601.67 20,350.00 58,266.74 22,500.00

84% 59% 54% 51% 65% 90%

104%

58% 82% 46% 63%

Board Per Diem Marketing Branch

Fiscal & Compliance Audit Assessment Collection Fee

8,500.00

100%

8,500.00

100%

8,500.00

Total Expenses

29,705,155.38

71% 29,278,987.48

69% 41,627,100.00

Net Income

$

4,026,958.38

$

4,609,341.30

YTD Payroll - $2,345,248.14