2016 Beef Checkoff Annual Report | Page 22

CATTLEMEN ’ S BEEF PROMOTION & RESEARCH BOARD Statement of Assets , Liabilities and Net Assets Sept . 30 , 2016 and Sept . 30 , 2015

ASSETS

2016 2015

Cash and cash equivalents $ 13,757,930 $ 18,228,692 Short-term Investments $ 1,500,000 $ 1,487,000 Long-term investments $ 5,500,000 $ 1,500,000

Capital Assets , net of accumulated depreciation of $ 70,607 and $ 79,661

$ 4,740 $ 6,557

Other $ 144 $ 147 TOTAL ASSETS $ 20,762,814 $ 21,222,396

LIABILITIES & NET ASSETS

Due to state beef councils & other $ 3,130 $ 2,008

Net Assets , Unrestricted : Designated for future expenses $ 16,066,876 $ 12,007,046 Designated – Board reserve $ 4,350,000 $ 4,350,000 Undesignated $ 342,808 $ 4,863,342 TOTAL LIABILITIES & NET ASSETS $ 20,762,814 $ 21,222,396

REVENUES

Assessments $ 39,114,755 $ 40,366,984 Interest $ 109,324 $ 75,309 Other $ 35,982 $ 23,943 TOTAL REVENUES $ 39,260,061 $ 40,466,236

EXPENSES

Program Expenses : Promotion $ 7,483,378 $ 8,092,825 Research $ 9,755,701 $ 9,776,601 Consumer Information $ 7,279,544 $ 10,660,349 Industry Information $ 3,054,637 $ 1,781,595 Foreign Marketing $ 8,123,678 $ 7,661,823 Producer Communications $ 1,460,199 $ 1,555,711 Program Evaluation $ 203,164 $ 202,093 Program Development $ 265,182 $ 315,491 Total Program expenses $ 37,625,483 $ 40,046,488

Supporting Services : USDA Oversight $ 349,024 $ 246,888 Administration $ 1,746,258 $ 1,541,927 TOTAL EXPENSES $ 39,720,765 $ 41,835,303

ASSESSMENT REVENUES :

Total Qualified State Beef Councils $ 31,845,084

States Without Qualified State Beef Councils

Importers 7,085,168

Total Assessment Revenues $ 39,114,755

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