Financial Update Faculty Associates, Inc. Board of Directors - - PowerPoint PPT Presentation

The University of Florida College of Dentistry

Financial Update

Faculty Associates, Inc. Board of Directors Meeting August 19, 2019

June FY19 (unaudited) Summary Statement

• f Revenues and Expenditures

Revenues Current FY Actual Prior Year Actual Difference Percent Variance

Clinical Revenue

$20,702,468 $19,869,315 $833,153 4.2%

Ancillary Revenue

$154,135 $160,135 ($6,001) (3.8%)

Contract and GME Revenue

$6,374,943 $7,474,350 ($1,099,408) (14.7%)

Radiology Internal Revenue

$170,328 $174,745 ($4,417) (2.5%)

Interest Income

$3,327 $3,416 ($89) (2.6%)

Total Revenues

$27,405,200 $27,681,962 ($276,761) (1.0%)

June FY19 (unaudited) Summary Statement

• f Revenues and Expenditures

Expenditures Current FY Actual Prior Year Actual Difference Percent Variance

Personnel Expenses $16,222,246 $14,825,581 $1,396,665 9.4% Other Operating Expenses $8,102,516 $7,427,235 $675,282 9.1% Administrative Overhead $877,740 $920,255 ($42,515) (4.6%) Total Expenses $25,202,502 $23,173,071 $2,029,432 8.8%

June FY19 (unaudited) Summary Statement

• f Revenues and Expenditures

Current FY Actual Prior Year Actual Difference Percent Variance

Change in Net Assets $2,202,698 $4,508,891 ($2,306,193) (51.2%)

(500,000) (400,000) (300,000) (200,000) (100,000) 100,000 200,000 300,000 Community Dentistry Dept Endodontics Dept Oral Diagnostic Sciences Dept Oral Surgery Dept Orthodontics Dept Pediatric Dentistry Dept Periodontics Dept Restorative Dept Changes in Net Position (495,332) 121,821 253,526 22,615 10,436 (285,169) 28,072 175,960

8/18/19

Changes in Net Position As of June 30, 2019

500,000 1,000,000 1,500,000 2,000,000 2,500,000 3,000,000 3,500,000 4,000,000 4,500,000 Community Dentistry Dept Clinic Admin Endodontics Dept Oral Diagnostic Sciences Dept Oral Surgery Dept Orthodontic s Dept Pediatric Dentistry Dept Periodontics Dept Restorative Dept Actual 3,770,452 1,796,308 1,026,998 2,220,970 3,906,209 1,054,831 2,021,336 1,156,958 4,115,962 Budget 4,387,446 2,146,745 1,007,645 2,078,205 3,888,345 1,226,016 2,604,260 1,062,448 3,292,574 8/18/19

Clinical Revenue Budget to Actual As of June 30, 2019

$‐ $500,000.00 $1,000,000.00 $1,500,000.00 $2,000,000.00 $2,500,000.00 $3,000,000.00 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

AR Aging by Bucket ‐ EOM June (73% Less Than 90 Days Old)

0‐30 31‐60 61‐90 91‐120 Over 120

Projected Cost of 3% Increases by Fund Source

(1% across the board, 2% merit)

FY 20 October ‐ June Annual Cost 3% Increase Impact 3% Increase Impact AEF $ 336,284.90 AEF $ 448,379.87 ASHANDS $ 1,804.52 ASHANDS $ 2,406.03 Aux $ 70,454.81 Aux $ 93,939.75 Foundation $ 17,044.68 Foundation $ 22,726.25 Other (Instrument Leasing) $ 2,916.72 Other $ 3,888.96 Research $ 90,007.94 Research $ 120,010.59 State $ 443,292.05 State $ 591,056.06 Teacher Scholar $ 7,560.45 Teacher Scholar $ 10,080.60 Grand Total $ 969,366.08 Grand Total $ 1,292,488.11 Increase from $13 to $14/hour Impact Increase from $13 to $14/hour Impact AEF $ 62,572.26 AEF $ 83,429.67 Aux $ 3,501.66 Aux $ 4,668.89 State $ 23,845.30 State $ 31,793.73 Other (Instrument Leasing) $ 1,251.81 Other (Instrument Leasing) $ 1,669.08 Grand Total $ 91,171.02 Grand Total $ 121,561.36 Total College Responsibility $ 494,026.85 Total College Responsibility $ 658,702.46

Important Reminders

• FY19 Audit On-site

– August 19-23, 2019

Questions?