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OPTN / UNOS Finance Committee Spring 2012 Update Next conference call is April 12, 2012 Next in-person meeting is May 17, 2012 Peter Farstad, Chair. 2011 OPTN Results. OPTN expenditures were $33,039,000 compared to a budget of $35,296,000.
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OPTN / UNOS Finance Committee • Spring 2012 Update • Next conference call is April 12, 2012 • Next in-person meeting is May 17, 2012 • Peter Farstad, Chair
2011 OPTN Results • OPTN expenditures were $33,039,000 compared to a budget of $35,296,000. • OPTN expenditures were $2,257,000 or 6.4% below budget.
2011 OPTN Results • OPTN registration funding was $30,457,000. It was based on 52,063 registrations and a fee of $585. • OPTN registration funding was $1,571,000 or 4.9% below budget due to lower than expected registrations.
2011 OPTN Results • The OPTN is a cost sharing contract, funded by federal appropriations and OPTN registrations. • Funding that covered the $33,039,000 in OPTN expenditures: • $4,154,000 in federal appropriations • $28,885,000 in OPTN registrations
2011 OPTN Results • Excess (revenues – expenses) for the OPTN was $1,572,000. • $885,000 was due to timing of HRSA funding for the Deceased Donor Potential Study. All funding was received in the first year of the two year study. • $687,000 was due to registration revenue being greater than expenditures.
2011 OPTN Results • Once registration fees are collected, excess OPTN funding remains in the OPTN bank account to provide financial stability and mitigate shortfalls when registrations do not meet expectations. • UNOS holds OPTN funds ‘in trust’ and can only use OPTN funds for OPTN expenditures.
2011 OPTN Results • OPTN financial operations are evaluated as a component of UNOS’ annual audit. • The evaluation was done in accordance with Governmental Auditing Standards and OMB Circular A-133. • OPTN financial operations complied with the above standards. An unqualified or ‘clean’ audit opinion was issued.
2011 UNOS Results • UNOS revenues and expenses (including the OPTN) were $42,422,000 and $42,779,000. • Change in net assets was ($357,000). • The primary reason for ($357,000) is due to the timing of Chrysalis revenues and expenses. $617,000 of revenue was recorded in FY 2010. These funds were used to pay expenses in FY 2011.
2011 UNOS Results • UNOS financial statements were audited in accordance with Generally Accepted Auditing Standards and Government Auditing Standards. • UNOS received an unqualified or ‘clean’ audit opinion on financial statements and is considered a ‘low-risk auditee’. • UNOS is in compliance with financial covenants required by the bank.