By the Numbers
Revenue & Expense Statement
Year End Financial Review 2015-16
For the past few months we have been projecting a year end deficit ($5-10K). While income has been trending lower during the course of the year, in the past two weeks of June an uptick in end of fiscal year contributions changed the picture. The bottom line for FY2015-16: $-2,772.96 (deficit). Note that $1,000 of this comes directly from the Board’s decision to support the UU Black Lives fundraising effort at the end of the year.
On the income side pledge income is ahead of the pace set the previous year. Rental income finished strong, campus use remains high, and we are booked for five weeks of summer camps. The Auction net about $21,000. Although these are straight pass through lines on the budget, special Sunday collections (Generosity Sunday and Social Justice Sundays) are up this year as well.
On the expense side expenses are basically on or under budget in most areas. A couple of items to note:
- Staff transitions (DRE and Membership) result in slightly higher personnel expenses.
- Additional cleaning has been implemented to support our busy campus resulting in higher expense.
- Several pledges have been reduced mid-year (various reasons).
- Cost of doing business. For the past few years bank/credit cards costs have increased as a result of more auto-draft and auto-payments.
- A grant from the Foundation covered the expenses for the 50th Anniversary events during the year.
- The mortgage payment is $1,419/month. Balance on loan is $121,187.
- $1,000 voted on by the Board from the budget for the UU Black Lives Matter fundraiser. The Board members also put up personally a matching grant for congregation contributions which together yielded $6,189. The total check amount: $7, 189.
- Membership events. Offering more memberships classes and dinners creates more expenses than in past years. This is a sign of growth.
Expenses are carefully monitored throughout the year. In a given year we can absorb some amount of fluctuation in expenses and income. This year we have worked to say yes to support growth in a number of ways (Black Lives Matter, membership events, childcare, fair trade coffee, additional cleaning, etc.). The cost of saying yes AND also receiving an unusual number of mid-year pledge reductions mitigates the ability to absorb these costs and bring the budget in balance.
Overall the financial picture for the Fellowship is solid. The completed capital campaign created support for present and future deferred maintenance needs and mortgage debt reduction which frees up budget resources for staff stability and program growth. As the budget continues to grow to matches the size of the congregation the need for a renewed strategic planning is evident. Growth in membership is reflecting in numbers some of the growth we have been supporting in past budgets, programming, and staffing. The reorganization of the Justice Ministry and plan to fund this directly through the budget reflects strong congregational commitment to this work. Going forward, the Fellowship is facing an opportunity to build on past successes and provide a sustainable staffing plan that addresses strategic and growth needs.
(document by Daniel Trollinger, Director of Administration)