Treasurer’s Report – March 2017

March 2017


Checking ( acct. 1008) We had a balance of $30,000 as of March 31, 2017. We are starting to see a decrease, this balance included $11,000 in advance payments for space use ($5000 relates to next year and the balance was an early payment of the Little People’s rent). We will receive about $11,500 of our quarterly endowment draw this month and the Auction is coming up in early May. I don’t see any real issues yet, but I will keep you alerted to problems.

Endowment Accounts (1170)   The Music Endowment Fund was at $42,278 and the Intern Fund at $422,742 at the end of March. The major endowment had a balance $1.2 million on December 31, this will be adjusted to the March 31st balance for next month. When this account is accessed, the treasurer and another member of the Finance Committee are present for  internal control purposes.  The Music and Intern funds have recovered from a drop in value and are above their original values of $40,000 and $400,000.



Pledges (4010) are unfavorable by almost  $10,000 from the expected amount for 9 months. The good news is that it we have had some decent deposits so far in April. The “bad news” is that we have collected $181,000 in pledges this year compared to $194,000 for the same period last year. I will send out statements next week. While I can spot a few of the usual pledges that are behind, as we say in accounting the “variances are widely scattered” and it’s difficult to pinpoint all the issues. Other contributions are over budget by $3400. Rents are down by $3,000, however, we will have some wedding prior to year end and there is an annual rental that we should be collecting around year end.

Senior Ministers (6200) appears to be unfavorable by $1,080, this is due to March being a 3 payroll month and should be on budget by the year end. The three payroll month had an impact on our bottom line, note the Net Loss of $6,770, while about $5,000 of this will be made up for by the end of the year, we still need to watch our spending.

Music (6600) and Worship(6500) have both spent their entire budgets. Music will spend the balance of the current portion of the Music Fund and withdraw 5% from the Music Endowment fund to help cover costs. When cuts were made last Fall, the reductions to these areas were not sustainable. We are restoring these areas to a more reasonable level in next year’s budget. If we can not maintain the proposed budget for these areas, the Music Director and Minister’s will have to find a way to cover some of their time off with volunteer/free resources.

Benevolence & Denomination appear favorable by $1,658, I will pay dues to the UUA and the Region this month, using up the remaining budget of $2,277. It is important that we pay something to retain our vote at GA and our position with our organization.

Church Administration is unfavorable by $3,741. We have had to use the outside bookkeeper more than hoped for, Mike is simply too busy with building and other issues. The copier budget was too low, a result of putting together last year’s budget before we knew the true costs.

Building is favorable by $9700 due to the fact that we have not spent the $15,000 reserve for repairs. However, utilities, landscaping and other categories are running over budget. I consider it unlikely that there will be $15,000 available for special projects, hopefully, at least $10,000 will be availabe.

Quite a change from last month’s report, the church lost around $18,000 for the month. Major causes: 3 payroll month (this should catch up before year end), low pledge collection, low one time rentals (should pick up) and high utility and repair bills. Hopefully, we can close the year on budget, a lot depends on the collection of pledges and this is difficult to predict.