Page 47 - RFCUNY-2010AnnualReport

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2010 2009 Total RFCO expenditures from operating budget $19,995,769 18,831,029 Total ARRA expenses 44,824 — Less income used to offset expenditures:

 PSC-CUNY (362,296) (362,296)  Direct fees (719,223) (735,699)  Administrative fee from RF affiliates (1,597,000) (1,552,000)  LLC Payment of Personnel Costs—Building Manager (148,624) (174,554)  Other (2,750) (2,259)

(2,829,893) (2,826,808)

17,210,700 16,004,221 Total RF central office expenditures funded from administrative fees plus  reserve fund allocations:

  Central allocation budget reserve 2,166,112 2,300,000   University-wide insurance 688,720 999,135   Contingency fund reserve 100,000 100,000   Employee termination reserve 100,000 100,000   Reserve for pre-employment background checks 200,000 200,000   Off-site recovery reserve 25,000 50,000   HR/Payroll application replacement 100,000 100,000   Foundation working capital reserve 750,000 750,000   Pre-Award initiative reserve 100,000 —   Legal reserve 350,000 350,000

4,579,832 4,949,135    Computed amount of administrative fee expenditures 21,790,532 20,953,356    Amount reported as administrative fee expenditures 21,790,532 20,953,356

   Variance $ 0 0

Reconciliation of Administrative Fee Expenditures Years ended June 30, 2010 and 2009 (unaudited)