james-thomas-budgetfinal.xlsx
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Acorn University
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Memorial Union
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2017-18 Budget
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Revenues
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BudgetActualBudgetRequest2017-2018 Budget Notes
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2015-162015-162016-172017-18
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Rental/Lease Income
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Vending Machine Income 148,00052,72162,00070,000As we have noticed enrollment falling, we see the vending income slowly increasing. Anticipated that this income is from community events and programs. Will slightly increase.
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Merchandise Rental46,00048,24560,000120,000New mechandise outlet moving into the union! Creative services including printing and design. Existing business in the city moving in. Additional partnership with craft center creative space is a part of this new program.
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Facility Rental20,00027,00032,00055,000Additional space for craft center's new community design thinking workshops is anticipated. Charges will be paid by community clients.
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Bookstore Rent 2165,000165,000165,000165,000Keeping this the same
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Hair Salon Rent 36,0006,0006,0005,000To keep the new contract we need to reduce this, as student enrollment is decreasing by an estimated 2%.
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Branded Lease Income 4147,000147,000147,000140,000To keep the new contract we need to reduce this, as student enrollment is decreasing by an estimated 2%.
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Total Rental/Lease Income432,000445,966472,000555,000
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Other Income
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Retail Food Sales650,000645,798610,000610,000
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Recreation Center Income 5110,000115,024120,000130,000Increased alumni outreach program will likely increase local enrollment in recreation services.
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Movie Sales23,00018,74516,00018,000Increased programming related to alumni and community events.
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Craft Center Income100,00097,51392,000175,000The craft center will begin generating revenue from new creative workshops, as well as from its participation in the new creative studio, a partnership with a local design agency in the community. Much of the craft center's income will come from its sale of creative production, marketing, and advertising support for the new Alumni newsletter.
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Programs Income54,00058,67565,00075,000Increased programming related to alumni and community events.
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Interest Income88,00060,76030,00050,0002016-17 budget reflected adjusted interest projections.
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Fines5,0002,4954,0004,000
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Sponsorships20,00022,00035,00045,000As we increase our Alumni outreach, we will also be seeking sponsorships from local businesses that employ our Alumni. This will be promoted in the new Alumni newsletter.
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Services to Other Departments 6
14,50014,00016,50040,000Although enrollment is down, services from the craft center will go up.
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General Fund Allocation 765,00050,00035,00090,000Increasing community family nights, as well as family craft nights, is boosting both revenue for these units, along with student empoyment increase of 2 students. General funding will support this: The Vice President recognizes the importance of social events, but would like to see the Division of Student Affairs enhance its co-curricular and educational activities.
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Misc. Income5,0007,3987,0005,0005000 is from the Acorn grant, in support of two programs: 1) community partnership with the local design agency (Rainton Creative Collective), offering shared access to craft center and union facilities at a discounted rate. Partnership with College of Business, to train our students in the world of business marketing. 2) Generation of a monthly publication, tenatively titled the Alumni newsletter, that will give our business students a chance to produce a real product, while also reaching out to our Alumni network.
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Total Other Income1,134,5001,092,4081,030,5001,242,000
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Total Generated Income1,566,5001,538,3741,502,5001,797,000
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Subsidy from Student Fees1,047,6001,099,4001,148,5001,148,500
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Transfer from Operating Reserve
0033,0000
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Total Available Resources2,614,1002,637,7742,684,0002,945,500
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1-Percent of Gross Sales
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2-Ten Year Lease Contract ending 2018-19
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3-Three Year Contact ending 2017-18
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4-Three Food Service Venders Contract ending 2016-17
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5-Income from bowling, table games, video, facility rental, classes
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6-Income from academic units for use of facility for teaching
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7-Allocation for support for university wide programs
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