The following Tables 3 - 5 show the actual and projected contributions from the partners from 1991 to 2001, the annual and projected expenditures during this period, the actual and budgeted expenditure breakdown for 1994, and the 1995 proposed budget as of 31 December 1994.

Contributions and outlays

The actual contributions from each nation through 1994, and the projected contributions are shown in Table 3a. The bottom line gives the total cumulative contributions. For the United Kingdom, all contributions include work credits.

Table 3. Project Funding, Commitment, and Expenditure Tables

3a) Calendar Year Annual Contributions (US $000)


19911992199319941995199619971998199920002001Total
United States3,81512,063 14,00017,12041,002





88,000
United Kingdom

3,6386,6225,2005,5005,6005,7005,7004,8001,24044,000
Canada

6,8132,7222,8702,4955,1005,1001,300

26,400
Chile



8801,3201,3201,3201,3201,3201,3208,800
Brazil


5505505505505505505505504,400
Argentina


4005715715715715715715714,400
Cumulative
Funding
3,81515,87840,32967,743118,816129,252142,393155,634165,075172,316176,000176,000

3b) Calendar Year Expenditures (cumulative in US $000)

Spending Profile19911992199319941995199619971998199920002001Total
Cash2,1567,24315,29030,07266,40296,924128,014142,635150,401154,697156,919156,919
UK Credits

1389554,4908,10011,08812,53913,34613,90914,22514,225
Funds Carried Fwd1,6598,63524,90136,71747,92424,2283,2914601,3283,7104,8564,856
Cumulative
Funding
3,81515,87840,32967,743118,816129,252142,393155,634165,075172,316176,000176,000

The "spend" profile, including work credits for the UK, is shown in Table 3b. The entries for 1991-1994 are actual expenditures; the remainder are projections. The last line is from Table 3a - the cumulative total funding. The difference between the total funding and the sum of the two spending lines is the cash-in-hand, shown in the penultimate line. Note that there is very little margin in the cash flow for 1998-1999.

1994 Expenditures

Table 4 shows the cumulative actual expenses through 1993, the budgeted and actual expenditures for 1994. and the difference between the budgeted and actual expenditures. Most of the $8.2 M underspend carries over into 1995. The major difference is in Subcontracts/Work Packages. Most of this difference is the result of two-to-three month delays in awarding several large subcontracts: for enclosures, telescope structures, and Mauna Kea and Cerro Pachón site construction. Much of the difference between budgeted and actual overhead is associated with these delays in subcontract payments. UK credits were below budget because requests for credit from PPARC for work completed after 31 March 1994 were not received during 1994. Approximately $200,000 was actually saved in labor, supplies, travel, purchased services, and overhead.

The financial data shown in Table 4 have been examined by AURA's auditors (Coopers & Lybrand LLP). The Finance Committee recommended to the Board that the Auditors' Report be accepted, and it was approved at the May 1995 meeting of the Gemini Board.

Table 4. Actual and Budgeted Expenditures for 1994 and Prior Years

Expense CategoryPrior YearsCY 1994 Expenditures (US $000)
1991-1993BudgetedActualDifference
Subcontracts / Work Packages5,18217,41810,5496,869
Work Packages (for UK Credit)*1291605694911
Direct Labor*6,1322,9622,841121
Supplies and Material56416413826
Travel*66240338023
Purchased Services62266462441
Equipment939641846
Overhead1,199481365116
Manager's Reserve
32
32
Revenue

(10)10
Grand Total15,42923,79315,5998,194
*-Total UK contribution credits for 1994 and 1994 were $995 K, which included expenditures in the expense categories of direct labor, travel, and work packages (for UK credit).

Proposed Budget for 1995

A summary of the 1995 proposed budget is shown in Table 5. These figures include an $8.0 M carryover from 1994, an increase of $20.9 M as a carryover from 1994 slipped commitments, and a decrease of $1.9 M in credits due to reduced primary mirror work in the UK and a rephasing of the coating plant industrial contracts.

Table 5. Summary of Calendar Year 1995 Proposed Budget (US $000)

Expense CategoryCash ExpendituresNew CommitmentsContribution Credit
Subcontracts / Work Packages30,90243,391
Work Packages (for UK Credit)345,4653,406
Direct Labor2,9663,095129
Supplies and Material198198
Travel468468
Purchased Services586586
Equipment420420
Overhead564564
Manager's Reserve192192
Grand Total36,33060,3803,535


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