2023 December Board Book

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

Month Ending CY % to

Month Ending

Year Ending 12/31/2023

PY % to

10/31/2023

10/31/2022

Budget

Budget

Actual

PY

Budget

Revenue Assessment Income *

$ 34,076,045

82% $ 34,859,825

84% $ 41,530,000

Non-Assessment Income **

84,041

78,628 210,132

95,000 245,000

88%

75%

Other Income

1,030,022

420%

600%

Outside Income - Grant Reim

132,189

-

-

Total Revenue

35,322,296

35,148,585

41,870,000

84%

84%

Expenses

Advertising

13,838,732 3,226,962 3,986,694 1,507,170 4,673,241 1,453,126

14,299,749 3,288,157 4,277,317 1,287,345 3,934,171 1,224,779

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

78%

78%

Communications Domestic Retail

80%

73%

63%

63%

Foodservice

69%

59%

International Initiative

73%

61%

Tradeshows

100%

85%

Processor Relations Industry Intelligence Producer Relations

662,307 560,888 456,917 13,308 706,618

776,351 537,660 475,047 15,214 490,087

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

67%

72%

74%

66%

66%

66%

Education and Community Relations

28%

32%

CDIC

87%

49%

Dairy Research Foundation

1,732,966 32,818,928

1,299,468 31,905,344

1,732,966 43,323,362

100%

75%

76%

71%

Office Operational

291,794

275,806 73,917 21,351 24,695 129,137 41,115 11,475 42,361 58,361 672,182 34,456 46,372 12,675 71,051 46,000 16,850 -

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 -

61%

58%

Rent

5,608

6%

84%

Travel & Automobile

18,837 13,549 128,680 40,487 97,865 42,178 56,480 578,788 39,054 42,839 10,225 86,126 47,750 18,167 79

47%

51%

Legal

22%

30%

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

74%

70%

84%

111%

1%

115%

0%

0%

73%

78%

78%

71%

72%

74%

78%

63%

47%

51%

Board Per Diem Marketing Branch

73%

91%

69%

57%

Fiscal & Compliance Audit Assessment Collection Fee

102%

96%

86%

90%

1,518,506

1,577,805

2,176,638

70%

60%

Total Expenses

$ 34,337,434

75% $ 33,483,149

70% $ 45,500,000

Year to Date Payroll: $3,078,650

* Estimated October Assessment at $3,324,576 ** Estimated September and October Non-Assessment at $14,900