2024 May Board Book

California Milk Advisory Board Statement of Income and Expenses As of December 31, 2023

Month Ending CY % to

Month Ending

Year Ending 12/31/2023

PY % to

12/31/2023

12/31/2022

Budget

Budget

Actual

PY

Budget

Revenue Assessment Income *

$ 40,721,051

98% $ 41,621,616

100% $ 41,530,000

Non-Assessment Income **

102,489

95,963 314,882

95,000 245,000

108%

91%

Other Income

1,291,949

527%

900%

Outside Income - Grant Reim

137,189

-

-

Total Revenue

42,252,677

42,032,462

41,870,000

101%

101%

Expenses

Advertising

17,156,301 3,908,652 5,703,420 2,188,534 6,197,921 1,484,629

17,957,385 4,266,068 6,028,587 1,841,498 5,727,376 1,317,425

17,834,000 4,039,000 6,350,000 2,175,000 6,438,388 1,459,000

96%

98%

Communications Domestic Retail

97%

95%

90%

89%

Foodservice

101%

85%

International Initiative

96%

89%

Tradeshows

102%

91%

Processor Relations Industry Intelligence Producer Relations

813,986 609,785 539,505 39,789 842,397

945,395 565,204 572,312 18,898 807,229

981,600 753,658 695,750 48,000 816,000

83%

87%

81%

69%

78%

80%

Education and Community Relations

83%

39%

CDIC

103%

80%

Dairy Research Foundation

1,732,966 41,217,886

1,732,624 41,780,001

1,732,966 43,323,362

100%

99%

95%

93%

Office Operational

341,588

470,123

476,000 87,600 40,000 62,000 174,838 48,000 10,000 58,000 72,000 800,000 50,000 91,000 14,000 125,000 47,000 21,200 -

72%

99%

Rent

6,504

5,346

7%

6%

Travel & Automobile

30,640 21,040 156,454 46,647 116,026 50,215 67,776 709,299 57,899 75,077 14,625 103,648 47,750 21,801 79

29,795 28,879 155,715 47,627 11,475 50,325 69,142 786,511 56,215 90,224 16,400 95,080 46,000 20,300

77%

71%

Legal

34%

35%

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

89%

84%

97%

129%

1%

115%

129,993

0%

0%

87%

93%

94%

84%

89%

87%

116%

102%

83%

99%

Board Per Diem Marketing Branch

104%

117%

83%

76%

Fiscal & Compliance Audit Assessment Collection Fee

102%

96%

103%

108%

1,867,066

2,109,150

2,176,638

86%

81%

Total Expenses

$ 43,084,953

95% $ 43,889,151

92% $ 45,500,000

Year to Date Payroll: $4,164,356

* Estimated December Assessment at $3,227,499 ** Estimated November and December Non-Assessment at $17,000