2024 September Board Book

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

Month Ending CY % to Month Ending PY % to Year Ending 7/31/2024 Budget 7/31/2023 Budget 12/31/2024 Actual PY Budget

Revenue Assessment Income *

$ 24,165,670

60% $ 24,409,069

59% $ 40,310,924

Non-Assessment Income **

59,830 503,266 81,522

64,668

95,000 550,000 223,000

63% 92% 37% 60% 46% 57% 37% 43% 45% 75% 47% 58% 56% 42% 50% 47% 36% 83% 58% 40% 55% 42% 54% 53% 57% 57% 68% 51% 85% 45% 77% 58% 51% 9% 0%

68%

Other Income

785,841 321%

Outside Income - Grant Reim

132,189

Total Revenue

24,810,288

25,391,766

41,178,924

61%

Expenses

Advertising

7,720,673 2,321,737 2,432,847 1,018,184 2,920,363 1,248,588 475,550 452,425 351,690

9,789,831 2,304,804 2,866,124 748,835 3,170,350 1,271,409 466,829 395,167 341,085

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

55% 57% 45% 34% 49% 87% 48% 52% 49% 43% 75% 53% 5%

Communications Domestic Retail

Foodservice

International Initiative

Tradeshows

Processor Relations Industry Intelligence Producer Relations

Education and Community Relations

4,223

2,554

CDIC

493,095 848,366

352,069

Dairy Research Foundation

1,299,725 23,008,783

20,287,742

Office Operational

171,127 4,822 24,453 17,998 95,877 20,367 63,180 31,005 40,808 421,485 34,028 51,074 9,000 55,855 37,500 12,716 -

212,366

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

45%

Rent

3,982

5%

Travel & Automobile

12,613 10,341 88,074 28,840 70,533 30,124 39,536 413,467 27,795 29,983 6,825 57,632 28,500 12,717 79

32% 17% 50% 60%

Legal

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

1% 0%

52% 55% 52% 56% 33% 49% 46% 61% 60% 49%

Board Per Diem Marketing Branch

Fiscal & Compliance Audit Assessment Collection Fee

1,091,294

1,073,409

2,143,700

Total Expenses

$ 21,379,035

47% $ 24,082,192

53% $ 45,500,000

Year to Date Payroll: $2,155,055 * Estimated July Assessment at $3,243,604 ** Estimated June and July Non-Assessment at $16,800