Exhibit F
2014-2015
[Insert Budget Board Name]
FY15
Prepared By:
[Insert Budget Name]
FY15 2014-2015
Date:
To:
Student Incidental Fee Committee (SIFC)
From:
Re:
Contacts:
I. Budget Summary
II. Overall Budget Change Matrix:
Fall, Winter Spring
Summer
FY15 – FY14
2013-2014
Cost per student per term
2014-2015
Base Budget
Cost per student per term
$
$
$
$
% Increase from
1|Page
[Insert Budget Name]
FY15 2014-2015
III. Questions from SIFC
1.)What are you doing to relieve staff of cumbersome workloads?

Three years ago we invested in more sails and rope/line. We have since been able
to install these pieces of equipment onto our ships and have been able to forego
the use of rowers. These rowers are now able to focus more on managing the
longevity of each ship and to make certain they are stunning as we sail the open
seas.
2.)How are you working to improve your relationship with the AABC?
the challenges?

What are
We have started asking more questions about policy. We have become aware that
there are rules and regulations to handling money and disbursing it. The AABC has
been able to help us formulate plans in recovering gold in the correct manner, and
distribute it in a way that coincides with the Pirate Confederation Rules of Collecting
and Disbursing Money (PCRCDM) – as such we have opened ourselves up for more
dialogue between the AABC and PirateCove, Inc.
3.)What is PirateCove, Inc. doing to off-set the loss of income from the departure of
Timmy Ricket and treasure chest #3?

We will unfortunately never be able to recover the lost revenue from the stolen
treasure chest; however, we are upping the amount of sea excursions in the hopes
we can find more buried treasure.
4.)What are your revenue streams from sources other than student fees?

This is detailed in the annual budget. Largest revenue streams come from finding
and digging up buried treasure.
5.)Update on Building/Equipment Reserve funding.

You can find this in the annual budget. All building and equipment reserves for our
vessels are within the recommended levels.
2|Page
[Insert Budget Name]
FY15 2014-2015
IV. Summary for FY15 [Budget Name]
Increase in Enrollment
FY15
FY14
Student Pop. Increase (%)
A. Incidental Fees
Total FY14 Incidental Fees
$
Total FY15 Incidental Fees
$
Total FY15 Dollars to Allocate
$
B. Mandatory Costs
Utilities
$
Total Utilities
$
Salaries + OPE + Min. Wage Incr.
$
Total Mandatory Costs
$
C. Non-Mandatory Costs
Decision Package #1
$
Decision Package #2
$
Decision Package #3
$
Decision Package #4
$
Total Non-Mandatory Costs
$
Total Mandatory & Non-Mandatory Costs
$
3|Page
[Insert Budget Name]
FY15 2014-2015
V. Summary of Revenues and Expenses
A. Revenue:
Student Fee Revenue
B. Expenses:
Student Payroll
Classified Salaries
Unclassified salaries
Other Payroll Expense
C. Other Expenses:
Operating supplies expense
Minor Equipment
.
Utilities
Maintenance & Repairs.
Assessment and overhead expenses.
Other Expenses
.
.
Depreciation & Reserves
4|Page
[Insert Budget Name]
FY15 2014-2015
VI. Budget detail by Index
What [Budget Name} does by index and discussion of significant variances.
PIRADM - Administration provides administrative support and coordination for the whole
PirateCove organization. This index records expenses that cannot be directly allocated to
individual indexes and are typically overhead expenses. Examples include salaries for the
Captain, First Mate, and deckhands.
Beginning in FY99 PirateCove, Inc. was required to pay sea-faring property tax on the portion of
the ships leased to outside retail activities like Moe’s and Red Lobster. This expense is estimated
to be $30,000 and is mandatory but is being recovered throughout the rental revenue from the
vendors.
PIRSSS - PirateCove, Inc. Shipping Services records income and expenses related to
PirateCove, Inc. shipping operations, other than repairs and maintenance. These expenses are
relatively fixed and less dependent upon volume and special “events.” Variable Income and
Expenses are recorded in PirateCove, Inc. “Event” Services. Unclassified and Classified wages
are at the mandated level with no additions/reductions in staffing. Other expenses are projected
to be at budget guidelines.
PIR”E” - PirateCove, Inc. “Event” Services records the revenue and expenses related to
equipment and event services provided by PirateCove, Inc. for shipping costs and special
“events.” Expenses and variable labor are recorded separately from Shipping Services not only
to provide better tracking, but also to more accurately represent the cost of services provided.
PIRCCI - PirateCove, Inc. Facility Operations records the fixed facility costs of operating the
main PirateCove Storehouse, the Bunny Hop, LLC facility costs are recorded in a separate index
BUNHOP discussed below. PirateCove Facility operations records the rental of space to Branded
Vendors base monthly rents. This index also records the hard costs of operating and keeping
the storehouse open: heat, lights, water and, if necessary, waste disposal. Services of
PirateCove, Inc. Building include one giant warehouse filled with treasure.
PIRDHS - PirateCove, Inc. Deckhands provides in house deckhand services and supplies to
PirateCove, Inc. Building. While keeping our facilities clean, it also provides students with a
source of employment and enables PirateCove, Inc. to better manage its utility expenses by
eliminating a graveyard shift. Labor is the most significant portion of this budget, other expenses
are slightly greater than inflation due to increasing enrollment and increased use of facilities.
BHPADM - BunnyHop, LLC records the facility operations cost for the Bunny Hop, LLC
storehouse building similar to PirateCove, Inc. Facility index. Starting in FY15, the renting of the
Forum will result in $60,000 in additional revenue for PirateCove, Inc.. While PirateCove, Inc.
has responsibility for the facilities, it has no programmatic control over services and programs
offered by Bunny Hop. The increase in total expense can also be attributed to additional repairs
and maintenance of an aging building at the end of its useful life cycle.
5|Page
[Insert Budget Name]
FY15 2014-2015
VII. [Budget Name] Working Capital Report
For SIFC Submission: Winter Term 2014
Projections for June 30, 2014 (End of FY14)
Working Capital FY14:
$xxxxxxxxx
Recommended OSU IMD FY14:
$xxxxxxxxx
Excess Working Capital for FY14:
$xxxxxxxxx
VIII. Reallocation of Excess Working Capital
Excess Working Capital Plan: Reallocation to FF&E for [xxxxxx]
Below are estimated expenses and expected ranges of costs for items within FF&E:
 Outfit the Blue Penguin with new railings
$XXXXX

Installation of electronic navigation equipment
$XXXXX

Design and implementation of new flag design on the Blue
$XXXXX

Salary and OPE. Additional positions to assist with projects
$XXXXX
Estimated range of expenses for FF&E:
$XXXXXXXX
6|Page
[Insert Budget Name]
FY15 2014-2015
IX. Explanation of Extraordinary Variances in
Percent Changes for Index Line Items
Items listed within the budget with a letter or number next to their percent
changes are listed below. Any line item with an extraordinary variance in
the percent change is justified below:
PIRBPN – Blue Penguin
(a) New tax law was put into effect in FY14 for the upcoming fiscal
year (FY15). This new tax now taxes all pirate ships for the use of
sales over a maximum of three.
(b) Crow’s nest was upgraded last year to not only being an area to
spy for land, but now also allows for the ship to monitor the
weather. New equipment, and its use, has attributed to an increase
of 1250% in expense.
7|Page
[Insert Budget Name]
FY15 2014-2015
X. Decision Packages
[If there are any decision packages included in this year’s request, they
should be listed in this section. Decision packages should include a detailed
written justification for the increase or major programmatic change; the
total amount of the request; and the amount of the increase per student,
per term. If the decision package is for the creation of a new staff position,
a detailed position description should also be included. Any documentation
regarding usage statistics, changes in service levels, or other information
pertinent to your request is helpful for the decision-making of the
committee and should be included in your decision package.]
8|Page