2024 May Board Book

California Milk Advisory Board Statement of Income and Expenses As of March 31, 2024

Month Ending CY % to Month Ending PY % to Year Ending 3/31/2024 Budget 3/31/2023 Budget 12/31/2024 Actual PY Budget

Revenue Assessment Income *

$ 10,461,684

26% $ 10,476,186

25% $ 40,310,924

Non-Assessment Income **

25,880 261,708 81,522

26,208 52,444

95,000 550,000 223,000

27% 48% 37% 26% 17% 23% 12% 19% 17% 29% 19% 19% 22% 16% 25% 18% 16% 39% 12% 12% 24% 15% 23% 25% 24% 25% 41% 28% 48% 17% 3% 0%

28% 21%

Other Income

-

Outside Income - Grant Reim

Total Revenue

10,830,795

10,554,839

41,178,924

25%

Expenses

Advertising

2,950,019 927,852 791,905 441,145 1,065,925 480,755 195,026 149,472 135,834 180,570 424,183 7,743,956 1,270

2,252,014 927,835 641,977 327,182 1,166,148 414,820 202,341 128,713 159,449 143,141 433,242 6,796,861 -

16,884,000 4,039,000 6,665,000 2,355,000 6,438,388 1,659,000 1,011,600 773,658 624,923 48,000 1,161,000 1,696,731 43,356,300

13% 23% 10% 15% 18% 28% 21% 17% 23% 18% 25% 16% 25% 26% 13% 0%

Communications Domestic Retail

Foodservice

International Initiative

Tradeshows

Processor Relations Industry Intelligence Producer Relations

Education and Community Relations

CDIC

Dairy Research Foundation

Office Operational

78,006 2,246 5,124 5,431 41,679 7,007 27,152 14,245 17,489 184,891 20,552 28,223 5,100 21,339 -

117,132 22,912 4,350 38,216 15,836 5,215 13,958 16,944 187,358 9,891 13,058 3,450 24,918 - -

476,000 5,800 42,000 45,000 175,000 48,000 10,000 116,000 58,000 72,000 740,000 50,000 100,000 10,600 125,000 48,500 21,800

Rent

Travel & Automobile

Legal

7%

Insurance - Employee Freight & Postage Employee Education Depr, Amort & Interest Liability Insurance Money Investment Plan Admin Salary & Wages Board Travel Expenses Board Meeting Expenses

22% 33%

0% 0%

24% 24% 23% 20% 14% 25% 20%

Board Per Diem Marketing Branch

Fiscal & Compliance Audit Assessment Collection Fee

-

-

0%

0%

5,450

5,450

25% 22%

26% 22%

463,935

478,690

2,143,700

Total Expenses

$ 8,207,891

18% $

7,275,551

16% $ 45,500,000

Year to Date Payroll: $923,595 * Estimated March Assessment at $3,587,641 ** Estimated February and March Non-Assessment at $17,000