Finance Summary for 1Q Fiscal Year 2020-21
Net YTD: $69,254 FY2020-21 vs. $43,584 FY 2019-20
The first three months of the fiscal year show good start for the program year. Contributions are ahead of pace from last year. This is due to a larger number of early pledge completions (36 so far) that came forward in response to giving messages in May/June. Rental income is quite low. Family Preschool is the only outside group that has used the campus through September. Early voting rental income will post later.
Expenses are below budget for the most part. While 1Q often shows a slow spending start to any program year, the remote aspect of programming has an impact as well.
Overall, given cultural uncertainties, the financial picture for ERUUF looks stable and solid for now.
Key Figures:
General Reserve Fund: $29,033
Strategic Initiative Fund: $389,855 ($130K committed to 2020-21 budget)
Campus Needs Fund: $366,021 (last challenge gift recently received)
Solar Campaign Fund: $0
Note: Due to posting depreciation of several large projects in the past year (solar/metal roof, AV upgrade) there will a variance going forward between some figures on the balance sheet and actual balance for certain funds (like Campus Needs and Solar Campaign). The correct figures are listed in this report above. I will consult with the BFAC about best practices to insure financial reporting is both accurate and also easy to read and understand.
Facilities: Major projects
• Sanctuary AV (new system complete and operational; fine tuning continues)
• Sanctuary ceiling and lights (lights replaced with LED, ceiling cleaned, speaker removed)
• Green Sanctuary items (insulation, door/window repair).
• HVAC in Sanctuary (this will need replacing very soon).
• Landscaping (extra work performed to prep campus for early voting).
Facilities Reserve Study: Giles-Flythe will give overview presentation to the Board in October.
Campus and COVID
The policy and guidelines seem to be working well. The campus buildings remain closed.
• Office staff meet weekly to conduct essential ERUUF business, cross train AV, etc.
• Family Preschool is open this fall with greater use of outdoor space.
• Several ERUUF groups are reserving outdoor spaces to meet.
• Early voting runs from Oct. 15-31, located in the Fellowship Hall. The Office has worked to support the coordination of having this group and a large number of visitors on campus. The first day of voting a number ERUUFians joined long lines of determined voters. The process is well organized and a good way for ERUUF to serve the community.
(document by Daniel Trollinger, Director of Administration)
