Financial Position Summary FY 2017
Total assets increased by $4.24 million, operating deficit of $339,300, net surplus for operations of $1.281 million. Detailed financial analysis and statement of cash flows for the fiscal year 2017.
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Financial Position o Total assets increased about $4.24 million year-over-year to $54.87 million o Liabilities increased by $577,600, primarily life memberships o Total unrestricted net assets increased $4.71 million year-over-year due largely to market returns on the investment portfolio that are allocated to operations o Temporarily restricted net assets decreased by $980,000 from program support activities primarily Moller, McConn and class gift funds o Total net assets increased about $3.66 million Operating Statement of Activities o Preliminary total operating revenues of $2.153 million o Total operating expenses of $2.493 million o Operating deficit of $339,300 o Investment returns allocated to operations of $1.620 million o Net surplus for operations of $1.281 million
Statement of Cash Flows o Net cash used in operating activities of $752,100 o Net cash provided by investing activities of $595,700 o Net cash provided by financing activities of $1.04 million o Net increase in cash and cash equivalents of $883,900 o Cash and cash equivalents at December 31, 2017 of $1.668 million Fixed Income Cash-basis Operating Statement of Activities o Cash-basis revenues of $2.554 million o Investment income distributions were $448,200 year-to-date o Subsidy receipts from USAFA Endowment of $332,300 o Total cash operating expenses of $2.298 million o Operating surplus of $256,200 o Capital purchases for operating purposes just over $13,800 o Cash-basis net surplus of approx. $242,400 for operations
Annual Time-Weighted Returns vs. Balanced Index As of 12/31/2017 30.00 22.95 19.75 19.27 20.00 16.02 22.93 17.85 10.94 16.88 8.11 10.00 12.62 4.61 10.10 6.15 (2.77) (2.40) 0.00 3.32 L/T Fund (3.12) (5.49) (10.00) Index (20.00) (30.99) (30.00) (34.27) (40.00) 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Cumulative Time-Weighted Returns vs. Balanced Index As of 12/31/2017 25.00 19.27 20.00 16.88 15.00 13.55 10.22 9.76 L/T Fund 9.10 11.39 10.00 8.21 7.83 7.70 Index 9.04 6.58 9.22 8.34 7.62 4.32 7.27 6.59 5.00 6.09 4.27 0.00 Latest 1 Yr 4 Yrs 10 Yrs 9 Yrs 8 Yrs 7 Yrs 6 Yrs 5 Yrs 3 Yrs 2 Yrs
Total Assets FY 2012-2017 (in Thousands) $60,000 $55,660 $52,643 $52,283 $49,406 $50,000 $44,627 $39,903 $40,205 $40,000 $37,616 $36,389 $35,514 $28,149 $30,000 Investments Other Total $24,423 $20,000 $15,455 $14,667 $11,091 $8,240 $10,000 $9,503 $8,016 $0 2012 2013 2014 2015 2016 2017
Net Assets FY 2012-2017 (in Thousands) $30,000 $25,249 $25,000 $22,437 $20,262 $20,000 $15,752 $15,000 Unrestricted Temp Res Perm Res $12,247 $11,454 $11,410 $11,191 $13,218 $11,888 $10,000 $6,127 $4,256 $5,000 $4,285 $4,144 $3,957 $4,050 $4,024 $3,911 $0 2012 2013 2014 2015 2016 2017
Cash-basis Sales of Investments FY 2012-2017 (in Thousands) $1,200 $1,089 $1,000 $1,000 $924 $912 $845 $835 $762 $800 $764 $742 $600 $412 $448 Actual Budget $400 $415 $300 $200 $- $(30) $(200) 2012 2013 2014 2015 2016 2017 YTD
Cash-basis Subsidy from Endowment FY 2012-2017 (in Thousands) $1,200 $1,045 $1,000 $886 $782 $770 $800 $738 $670 $661 $769 $600 $680 $600 Actual Budget $600 $600 $426 $400 $332 $200 $- 2012 2013 2014 2015 2016 2017 YTD
Cash from Operations FY 2012-2017 (in Thousands) $3,500 $3,306 $3,300 $3,047 $3,100 $3,213 $2,897 $2,900 $2,688 $2,897 $2,700 $2,678 $2,497 $2,656 $2,500 $2,396 Actual Budget $2,300 $2,131 $2,252 $2,100 $1,900 $1,774 $1,700 $1,658 $1,500 2012 2013 2014 2015 2016 2017 YTD
