College of Marin 12/31/13 YTD Financial Report

1. College of Marin12/31/13 YTD Financial Report

2. Overview • 12/31 YTD Year over Year • Financial Highlights • Cash Position • Cash Flow • Revenues: • Budget vs. 12/31/13 YTD Actual Comparison • 12/31 Revenue Comparison • 12/31 YTD Year over Year Revenue Breakdown Comparison • Expenditures: • Budget vs. 12/31/13 YTD Actual Comparison • 12/31 YTD Expenditure Comparison • 12/31 YTD Year over Year Expenditure Breakdown Comparisons • Supplemental Information

3. 12/31 YTD Financial Highlights 12/31/12 12/31/13 • Revenues $ 25.4M $26.5M • Expenses $ 23.1M $22.2M • Net $ 2.3M $ 4.3M Primary source of revenue is property tax which is received in December and April.

4. 12/31 YTD Cash Position 12/31/12 12/31/13 • Cash Balance $ 11.9M $13.1M • Borrowing n/a n/a • Cash inflow is revenues - our major source, property taxes, received primarily in December and April. • Cash outflow is expenses – about $4.0M per month • Borrowing provides operating cash until mid-December when property taxes are received. Borrowing from county on an as-needed basis.

5. Yr/Yr Cash Flow

6. Overview • 12/31 YTD Year over Year • Financial Highlights • Cash Position • Cash Flow • Revenues: • Budget vs. 12/31/13 YTD Actual Comparison • 12/31 Revenue Comparison • 12/31 YTD Year over Year Revenue Breakdown Comparison • Expenditures: • Budget vs. 12/31/13 YTD Actual Comparison • 12/31 YTD Expenditure Comparison • 12/31 YTD Year over Year Expenditure Breakdown Comparisons • Supplemental Information

7. Budget vs. 12/31/13 YTD Actual Revenue • Received 55% of secured property taxes projected by county • May not meet budget for enrollment fee revenue for 2013/14 • 84% of local revenue compared to budget; primarily non-resident tuition and one-time items

8. 12/31 YTD Revenue Comparison • 2012/13 • $44.8M budgeted • $25.4M actual YTD • 56.7% of budget • 2013/14 • $46.8M budgeted • $26.5M actual YTD • 56.6% of budget • YTD revenue primarily from property taxes and enrollment fees

9. 12/31 YTD Yr/Yr Revenue Breakdown • 55% of secured property taxes projected by county received in December • Decline in enrollment fee revenue consistent with decline in FTES • Increase in State revenue due to Prop 30 • Increase in local revenue due to one-time items

10. Overview • 12/31 YTD Year over Year • Financial Highlights • Cash Position • Cash Flow • Revenues: • Budget vs. 12/31/13 YTD Actual Comparison • 12/31 Revenue Comparison • 12/31 YTD Year over Year Revenue Breakdown Comparison • Expenditures: • Budget vs. 12/31/13 YTD Actual Comparison • 12/31 YTD Expenditure Comparison • 12/31 YTD Year over Year Expenditure Breakdown Comparisons • Supplemental Information

11. Budget vs. 12/31/13 YTD Actual Expenses • Salaries at 47.3% of budget compared to 50.8% last year • Benefit increase higher than planned for Kaiser – 15% vs. 12% • Delay in filling vacant positions helps reduce salary and benefit costs • Other expenditures on track

12. 12/31 YTD Expenditure Comparison • 2012/13 • $46.9M budgeted • $23.1M actual YTD • 49.3% of budget • 2013/14 • $47.6M budgeted • $22.2M actual YTD • 46.6% of budget • Expenditures are incurred relatively evenly throughout the year

13. 12/31 YTD Yr/YrExpenditure Breakdown • 92% of expenses are fixed: • 59% salaries • 27% benefits • 6% utilities, insurance, audit, legal, election • 8% of expenses are discretionary

14. Overview • 12/31 YTD Year over Year • Financial Highlights • Cash Position • Cash Flow • Revenues: • Budget vs. 12/31/13 YTD Actual Comparison • 12/31 Revenue Comparison • 12/31 YTD Year over Year Revenue Breakdown Comparison • Expenditures: • Budget vs. 12/31/13 YTD Actual Comparison • 12/31 YTD Expenditure Comparison • 12/31 YTD Year over Year Expenditure Breakdown Comparisons • Supplemental Information

15. SUPPLEMENTAL INFORMATION

16. Statement of Sources and Uses

17. Statement of Sources of Funds

18. Statement of Uses of Funds

19. Salary Analysis

20. Benefit Analysis

21. Fixed Expense Analysis

22. Other Operating Expense Analysis

23. Capital Outlay Analysis