FY 2020 2021 Assessment FI Committee September 18

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FY 2020 -2021 Assessment F&I Committee September 18, 2020 FY 2020 -2021 Assessment 1

FY 2020 -2021 Assessment F&I Committee September 18, 2020 FY 2020 -2021 Assessment 1

FY 2020/2021 Assessment � Budget Impact � Payroll Protection Program � Cash Projections �

FY 2020/2021 Assessment � Budget Impact � Payroll Protection Program � Cash Projections � Actions FY 2020 -2021 Assessment 2

FY 2020/2021 Assessment Budget Impact � Budget Assumed Spring Classes � Residential Dining ◦

FY 2020/2021 Assessment Budget Impact � Budget Assumed Spring Classes � Residential Dining ◦ Sales Impact of $2. 7 M out of $4 M Budget �Planned for 1, 075 Residents �Current level at 328 � Retail Dining/C-Stores Sales Budget of $845 K ◦ Primarily Spring Revenue ◦ Current volume below $1, 000 week � Bookstore FY 2020 -2021 Assessment web sales up but aggregate down 3

FY 2020/2021 Assessment Payroll Protection Program � Received $2 M Loan on April 22,

FY 2020/2021 Assessment Payroll Protection Program � Received $2 M Loan on April 22, 2020 ◦ Liability Recorded on Balance Sheet � Reviewing Loan Forgiveness options ◦ Minimum 24% Forgiveness estimated ◦ Filing in late October � Refunds to be submitted monthly ◦ Worst Case scenario $100 K/mo starting in November FY 2020 -2021 Assessment 4

FY 2020/2021 Assessment Cash Required Through 8/2021 FY 2020 -2021 Assessment 5

FY 2020/2021 Assessment Cash Required Through 8/2021 FY 2020 -2021 Assessment 5

FY 2020/2021 Assessment Planned Actions � Re-budget for Spring Distance Learning model � Revisit

FY 2020/2021 Assessment Planned Actions � Re-budget for Spring Distance Learning model � Revisit staffing needs ◦ Hired 60 part timers for Rush � Assess Business Model and Infrastructure � Investment entities on call to pull funds FY 2020 -2021 Assessment 6