RD263 - Cooperative Extension/Agricultural Experiment Station Division Annual Report of Actual Expenditures by Fund Source and Program 2015-16


Executive Summary:
Item 234 B of Chapter 780 of the 2016 Appropriation Act requires the submission of an annual report of actual expenditures for the Cooperative Extension/Agricultural Experiment Station Division (CE/AES) to the Department of Planning and Budget, House Appropriations Committee, and Senate Finance Committee by September 1 each year.

The report summarizing the sources and uses of funds for the Cooperative Extension/Agricultural Experiment Station Division (Agency 229) for fiscal year 2015-16 is attached. This report is provided in the format defined by the Secretary of Education in November 2011. The report arrays sources and uses according to the Commonwealth’s fund and program accounting structure. The total expenditures made directly by the localities in support of extension programs are also displayed. Consistent with the Commonwealth’s standards, the report is provided on a cash basis which reflects actual revenues and expenditures as of a point in time, in this case June 30, 2016.

The budget for federal revenue is established to match projected allotments from the federal government that are expected to be drawn down during the state fiscal year. All expenses in federal programs are covered by drawdowns of federal revenue up to allotted amounts. Federal revenue in the Cooperative Extension/Agriculture Experiment Station Division was less than the projected budget due to the timing of receipt of federal drawdowns. While the University seeks to balance revenue and expenditures, variances in federal funds are due to differences between the timing between drawdowns and expenses.

The Cooperative Extension/Agricultural Experiment Station Division Annual Report of Actual Expenditures by Fund Source and Program for 2015-16 is attached. The second page reconciles the information provided through the report to the Commonwealth’s accounting system (CARDINAL) and compares it to the authorized appropriation.