$359,353 $323,279 $424,437 $1,859,405 $1,614,571 $4,188 $324,022 $283,119 $18,898 $844,394 $330,963 $246,665 $1,709,457 $3,955,243 $639,422 $172,686 $43,080 $309,828 $784,514 $269,695 $1,366,610 $944,859 $3,702,063 $138,608 $5,139 $616,836 $327,602 $152,428 $586,168 $332,862 $1,974,654 $451,554 $365,674 $67,096 $1,592,127 $409,645 $5,233,776 $292,707 $44,644 $412,617 $504,405 $14,604 $747,385 $502,515 $204 $14,796 $18,100 $31,268 $10,544 $1,028 $129,015 $7,051,545 ASSETS Cash and cash equivalents Short-term investments Long-term investments Capital assets, net of accumulated depreciation of $74,768 and $70,652 Other 2018 $9,250,308 $9,000,000 $5,500,000 $5,129 – 2017 $10,413,663 $3,000,000 $7,000,000 $2,793 $480 $2,622 $577,547 $16,020,917 $4,350,000 $2,804,351 $3,489 $62,778 $15,025,245 $4,350,000 $975,424 $9,225,691 $8,042,093 $7,345,798 $3,560,607 $7,640,567 $1,179,898 $230,795 $295,075 $7,871,078 $9,102,863 $7,913,258 $4,180,808 $8,140,797 $1,498,613 $202,832 $292,090 $42,560,297 $155,700 $42,763 $40,926,265 $110,656 $18,981 $601,681 $1,811,956 $465,853 $1,796,725 Supporting Services: USDA oversight Administration LIABILITIES & NET ASSETS Due to state beef councils and other Due to Montana Beef Council CATTLEMEN’S BEEF PROMOTION AND RESEARCH BOARD Statement of Assets, Liabilities and Net Assets September 30, 2018 and September 30, 2017 ASSESSMENT REVENUES Qualified State Beef Councils 2018 Alabama Arizona Arkansas California Colorado Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maryland Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia* Wisconsin Wyoming TOTAL STATES WITHOUT QUALIFIED STATE BEEF COUNCILS $204,955 Importers TOTAL ASSESSMENT REVENUES $42,560,297 States Without Qualified State Beef Councils Alaska Connecticut Massachusetts Maine New Hampshire Rhode Island West Virginia* *West Virginia became a Qualified State Beef Council as of June 1, 2018. TOTAL QUALIFIED STATE BEEF $35,303,797 TOTAL ASSETS $23,755,437 $20,416,936 TOTAL LIABILITIES & NET ASSETS $23,755,437 $20,416,936 REVENUES Assessments Interest Other TOTAL REVENUES $42,758,760 $41,055,902 EXPENSES Program Expenses: Promotion Research Consumer information Industry information Foreign marketing Producer communications Program evaluation Program development TOTAL PROGRAM EXPENSES $37,520,524 $39,202,339 TOTAL EXPENSES $39,934,164 $41,464,917 Net Assets, Unrestricted: Designated for future expenses Designated – Board reserve Undesignated