2019 March Board Book

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

Year Ending 12/31/2018

Year Ending 12/31/2017

Year Ending 12/31/2018

% to

PY % to

Budget

Budget

Actual

PY

Budget

Revenue Assessment Income

40,130,947 $

$

39,762,800

39,000,000 $

103%

102%

Non-Assessment Income

216,198

502,027

385,000

56%

115%

Total Revenue

40,337,569

40,264,827

39,385,000

102%

94.00

Expenses

Advertising

17,716,934 3,260,986 4,642,302 1,029,115 5,286,018

16,435,521 3,561,836 4,657,265

18,955,000 3,529,000 5,497,000 1,550,000 5,450,000 1,085,000

93%

90%

Communications

92%

90%

Business Development

84%

76%

Foodservice International Tradeshows

755,354

66%

43%

4,920,287 1,025,418

97%

85%

825,693 544,560 438,875 384,831 27,196

76%

95%

Processor Relations Industry Intelligence Producer Relations

236,386 369,499 397,873 16,401

610,000 400,000 456,904 48,000

89%

70%

110%

92%

84%

87%

Education and Community Relations

57%

11%

Dairy Research Foundation

1,942,096 36,098,605

1,950,000 34,325,841

1,942,096 39,523,000

100%

100%

91%

85%

Office Operational

400,090 251,367 52,659 134,854 121,534 27,870

293,853 241,304 43,991 57,042 96,817 24,493

305,000 248,600 47,000 75,000 140,000 40,000 30,000 40,000 45,000 100,000 740,000 55,000 85,000 30,000 90,000 25,000

131%

100%

Rent

101%

100%

Travel & Automobile

112%

98%

Legal

180%

76%

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

87%

72%

70%

61%

0

0

0%

0%

32,655 34,456

38,578 42,269

82%

96%

77%

106%

0

0

0%

0%

712,771 84,365 77,270 34,149 73,070 75,655

707,759 51,297 56,519 21,975 72,072 22,500

96%

96%

153%

68%

91%

57%

Board Per Diem Marketing Branch

114%

55%

81%

80%

Fiscal & Compliance Audit Assessment Collection Fee

303%

90%

8,500

8,500

8,500

100%

170%

2,121,265

1,778,969

2,104,100

101%

84%

Total Expenses

38,219,870

36,104,810

41,627,100

92%

85%

Net Income

2,117,699 $

4,160,017

(2,242,100) $

Year to Date Payroll: $2,797,422