Academy Journal Volume 58 | Page 44

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Exhibit A : Academy Operations And Capital Items Budget To Actual Summaries
College & Secondary Schools Theological School
Actual 2017
Glencairn &
Cairnwood
Other
Total
Favorable /
( Unfavorable )
Variance
Budget 2017
Actual 2016
Enrollments
230.7
285.3
516.0
-5.06%
543.5
473.1
Dorm Counts
60.3
145.8
206.1
-10.39%
230.0
206.0
OPERATIONS ( CASH BASIS ) Income Tuition & Fees
$ 3,044,958
$ 5,695,304
$ 0
$ 0
$ 8,740,262
-7.97%
$ 9,497,000
$ 7,766,239
New Church Grant & Other Financial Aid
($ 1,158,019 )
($ 4,331,379 )
$ 0
$ 0
($ 5,489,398 )
-0.81%
($ 5,534,470 )
($ 4,961,678 )
Net Tuition & Fees
$ 1,886,939
$ 1,363,925
$ 0
$ 0
$ 3,250,864
-17.96%
$ 3,962,530
$ 2,804,561
Net Room & Board ( College Grants of $ 549,852 and ANCSS grants of $ 216,360 for FY17 )
$ 261,357
$ 1,128,867
$ 0
$ 0
$ 1,390,224
-12.96%
$ 1,597,260
$ 1,346,765
Government Grants ( for financial aid )
$ 276,635
$ 2,776,271
$ 0
$ 0
$ 3,052,906
0.28 %
$ 3,044,500
$ 2,783,921
Total Student Revenues
$ 2,424,931
$ 5,269,063
$ 0
$ 0
$ 7,693,994
-10.58%
$ 8,604,290
$ 6,935,247
Endowment Payout
$ 2,634,787
$ 3,013,819
$ 2,242,311
$ 284,910
$ 8,175,827
5.83 %
$ 7,725,076
$ 7,788,392
Fund for the Academy / Private Gifts & Grants
$ 1,226,758
$ 424,468
$ 29,590
$ 50
$ 1,680,866
-38.99%
$ 2,755,200
$ 2,340,277
Transfers & Other
$ 866,745
$ 2,182,364
$ 1,002,243
$ 116,697
$ 4,168,049
-5.11%
$ 4,392,385
$ 5,136,784
Total Income
$ 7,153,221
$ 10,889,714
$ 3,274,144
$ 401,657
$ 21,718,736
-7.49%
$ 23,476,951
$ 22,200,700
Expense Salaries & Benefits Costs - Program-Related
$ 4,501,043
$ 5,978,159
$ 1,398,619
$ 192,319
$ 12,070,140
3.25 %
$ 12,475,269
$ 11,732,871
- Housing-Related
$ 238,693
$ 179,524
$ 0
$ 0
$ 418,217
10.56 %
$ 467,595
$ 390,793
- Administrative
$ 452,032
$ 1,017,938
$ 93,008
($ 78,356 )
$ 1,484,622
1.94 %
$ 1,514,039
$ 1,497,668
Total Salaries & Benefits
$ 5,191,768
$ 7,175,621
$ 1,491,627
$ 113,963
$ 13,972,979
3.35 %
$ 14,456,903
$ 13,621,332
Facilities Costs - Program-Related
$ 1,446,117
$ 1,405,034
$ 654,586
$ 39,611
$ 3,545,348
2.01 %
$ 3,618,237
$ 3,491,029
- Housing-Related
$ 379,025
$ 557,918
$ 0
($ 0 )
$ 936,943
4.36 %
$ 979,657
$ 835,586
- Administrative
$ 0
$ 0
$ 0
$ 0
$ 0 NA
$ 0
$ 0
Total Facilities Costs
$ 1,825,142
$ 1,962,952
$ 654,586
$ 39,611
$ 4,482,291
2.51 %
$ 4,597,894
$ 4,326,615
Other Costs - Program-Related
$ 936,519
$ 2,051,357
$ 553,684
$ 75,327
$ 3,616,887
-2.14%
$ 3,541,243
$ 3,345,717
- Housing-Related
$ 337,975
$ 750,561
$ 0
$ 0
$ 1,088,536
8.15 %
$ 1,185,160
$ 1,068,626
- Administrative
$ 424,705
$ 496,409
$ 59,236
$ 104,690
$ 1,085,040
-1.26%
$ 1,071,525
$ 1,074,840
Total Other Costs
$ 1,699,199
$ 3,298,327
$ 612,920
$ 180,017
$ 5,790,463
0.13 %
$ 5,797,928
$ 5,489,183
Total Expenses
$ 8,716,109
$ 12,436,900
$ 2,759,133
$ 333,591
$ 24,245,733
2.44 %
$ 24,852,725
$ 23,437,130
Operating Surplus / ( Deficit ) ($ 1,562,888 ) ($ 1,547,186 ) $ 515,011 $ 68,066 ($ 2,526,996 ) -83.68 % ($ 1,375,774 ) ($ 1,236,430 )
CAPITAL ITEMS ( CASH BASIS ) Income and Other Receipts Capital Campaign & Other Gifts ( net of Campaign expenses )
$ 1,928,000
$ 10,700,000
$ 9,915,000
Debt Proceeds
$ 0
$ 0
$ 0
Endowment Payout
$ 1,399,000
$ 1,895,000
$ 1,295,000
Sales , Transfers & Other
$ 4,013,000
$ 552,000
$ 2,760,000
Total Income and Other Receipts
$ 7,340,000
$ 13,147,000
$ 13,970,000
Expenditures Debt Service - Interest and Fees
$ 539,000
$ 450,000
$ 415,000
- Principal Payments
$ 3,635,000
$ 3,610,000
$ 3,473,000
Total Debt Service
$ 4,174,000
$ 4,060,000
$ 3,888,000
Capital Expenditures
$ 6,097,000
$ 11,252,000
$ 8,122,000
Transfers Out / Other Expenses
$ 24,000
$ 3,955,000
Total Expenditures
$ 10,295,000
$ 15,312,000
$ 15,965,000
Capital Expenditures Net Of Receipts ($ 2,955,000 ) ($ 2,165,000 ) ($ 1,995,000 )
Total Expenditures Net of Receipts ( funded
($ 5,481,996 )
($ 3,540,774 )
($ 3,231,430 )
by endowment withdrawals )
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