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Ted, thank you for your time and skill on our finances. Roger<br><br><br><a href="https://overview.mail.yahoo.com/?.src=iOS">Sent from Yahoo Mail for iPhone</a><br><br><p class="yahoo-quoted-begin" style="font-size: 15px; color: #715FFA; padding-top: 15px; margin-top: 0">On Friday, September 11, 2020, 9:44 AM, Ted Goertzel via Fuusm-l <fuusm-l@fuusm.org> wrote:</p><blockquote class="iosymail"><div id="yiv8249681219"><div dir="ltr"><div class="yiv8249681219gmail_default" style="font-family:georgia, serif;">As acting treasurer, with Linda Lawton's help, I undertook an analysis of the financial status of our church. The Board asked for this information so we will be well informed to vote on the Budget at the Congregational Meeting on September 27. It has implications for future planning as well.</div><div class="yiv8249681219gmail_default" style="font-family:georgia, serif;"><br></div><div class="yiv8249681219gmail_default" style="font-family:georgia, serif;">The key findings of my analysis are summarized in this email. There are links to more detailed information on each item. If you have a chance to read this during the next two weeks before the meeting, please get back to me with any questions or suggestions. We will have limited time for discussion during the meeting itself.</div><div class="yiv8249681219gmail_default" style="font-family:georgia, serif;"><br></div><div class="yiv8249681219gmail_default" style="font-family:georgia, serif;"><span id="yiv8249681219gmail-docs-internal-guid-3ea2cce3-7fff-5c5c-2b9d-b558e4991fd0"><p dir="ltr" style="line-height:1.38;text-align:center;margin-top:0pt;margin-bottom:0pt;"><span style="font-size:10pt;font-family:Arial;color:rgb(0,0,0);background-color:transparent;vertical-align:baseline;white-space:pre-wrap;">A Report on FUUSM’s Financial Status</span></p><p dir="ltr" style="line-height:1.38;text-align:center;margin-top:0pt;margin-bottom:0pt;"><span style="font-size:10pt;font-family:Arial;color:rgb(0,0,0);background-color:transparent;vertical-align:baseline;white-space:pre-wrap;">Ted Goertzel, Acting Treasurer</span></p><p style="line-height:1.38;text-align:center;margin-top:0pt;margin-bottom:0pt;"><span style="font-size:10pt;font-family:Arial;color:rgb(0,0,0);background-color:transparent;vertical-align:baseline;white-space:pre-wrap;">September 11, 2020</span></p><p dir="ltr" style="line-height:1.38;text-align:center;margin-top:0pt;margin-bottom:0pt;"><a rel="nofollow" ymailto="mailto:tedgoertzel@gmail.com" target="_blank" href="mailto:tedgoertzel@gmail.com" style="text-decoration-line:none;"><span style="font-size:10pt;font-family:Arial;background-color:transparent;text-decoration-line:underline;vertical-align:baseline;white-space:pre-wrap;">tedgoertzel@gmail.com</span></a></p><div style="text-align:center;text-decoration-line:none;"><a rel="nofollow" target="_blank" href="https://docs.google.com/document/d/1-EFqw3ApvIqicGAD0mD4U2ZoHLVcRqJIWe6_G7P-A3w/edit?usp=sharing" style="text-decoration-line:none;"><span id="yiv8249681219gmail-docs-internal-guid-3ea2cce3-7fff-5c5c-2b9d-b558e4991fd0" style="color:rgb(34,34,34);"></span></a><a rel="nofollow" target="_blank" href="https://docs.google.com/document/d/1-EFqw3ApvIqicGAD0mD4U2ZoHLVcRqJIWe6_G7P-A3w/edit?usp=sharing" style="text-decoration-line:none;"><span style="font-size:10pt;font-family:Arial;background-color:transparent;text-decoration-line:underline;vertical-align:baseline;white-space:pre-wrap;">Click here to open this report in a browser</span></a><span style="font-size:10pt;font-family:Arial;color:rgb(0,0,0);background-color:transparent;vertical-align:baseline;white-space:pre-wrap;">. </span><span style="color:rgb(34,34,34);"> </span><br></div></span></div><div class="yiv8249681219gmail_default" style="font-family:georgia, serif;"> <br></div><div class="yiv8249681219gmail_default" style="font-family:georgia, serif;"><br></div><div class="yiv8249681219gmail_default" style="font-family:georgia, serif;"><span id="yiv8249681219gmail-docs-internal-guid-7048a3af-7fff-f064-02ad-6fbbb26b3248"><p dir="ltr" style="line-height:1.38;margin-top:0pt;margin-bottom:0pt;"><span style="font-size:10pt;font-family:Arial;color:rgb(0,0,0);background-color:transparent;font-weight:700;vertical-align:baseline;white-space:pre-wrap;">The budget for the 2020-2021 fiscal year projects a troubling decline in revenue from pledges. This is not due to the pandemic, but to a decline in membership in the two years before the pandemic. The budget also projects declines in plate revenue and in service auction revenue (which may be worse than projected since we may not be able to have an auction).</span></p><p dir="ltr" style="line-height:1.38;margin-top:0pt;margin-bottom:0pt;"><span style="font-size:10pt;font-family:Arial;color:rgb(0,0,0);background-color:transparent;font-weight:700;font-style:italic;vertical-align:baseline;white-space:pre-wrap;"> </span><span style="font-size:10pt;font-family:Arial;color:rgb(0,0,0);background-color:transparent;font-style:italic;vertical-align:baseline;white-space:pre-wrap;">Budgetary trends since 2014 are summarized in a </span><a rel="nofollow" target="_blank" href="https://docs.google.com/document/d/1eWUT3b211jzxQOI5DvSTY-uPzQNIJ-eIubCSEWrlclM/edit?usp=sharing" style="text-decoration-line:none;"><span style="font-size:10pt;font-family:Arial;background-color:transparent;font-style:italic;text-decoration-line:underline;vertical-align:baseline;white-space:pre-wrap;">Table Here:</span></a></p><p dir="ltr" style="line-height:1.38;margin-top:0pt;margin-bottom:0pt;"><span style="font-size:10pt;font-family:Arial;color:rgb(0,0,0);background-color:transparent;vertical-align:baseline;white-space:pre-wrap;"><span style="border:none;display:inline-block;overflow:hidden;width:457px;min-height:282px;"><img title="Chart" src="https://lh3.googleusercontent.com/Dx5bZ776ftj8p_fWQOHr1xG7fSB-BGNYbVZosU9YWykVcHlP_stOUrylDuMUeHaJoRurK4wCf3TpoabqjDLDdwFP9QpjfhGFzhMjrq8KZi8gief0rayQAH5grN9yZFiOUItb6o56" width="457" height="282" style="margin-left:0px;margin-top:0px;"></span></span></p><br><p dir="ltr" style="line-height:1.38;margin-top:0pt;margin-bottom:0pt;"><span style="font-size:10pt;font-family:Arial;color:rgb(0,0,0);background-color:transparent;font-weight:700;vertical-align:baseline;white-space:pre-wrap;">The decline in income is primarily due to a decline in membership in the last two years. Membership declined from 131 in 2014 to 104 in 2020. This has been primarily due to a decline in new memberships, not to an increase in membership losses. </span><a rel="nofollow" target="_blank" href="https://docs.google.com/document/d/1N5lwsS63m9u8eECMOx1Vb4QFESb-hBFPNyjHpjB3Hr8/edit?usp=sharing" style="text-decoration-line:none;"><span style="font-size:9pt;font-family:Arial;background-color:transparent;text-decoration-line:underline;vertical-align:baseline;white-space:pre-wrap;">Click here for a detailed analysis of membership trends</span></a></p><br><p dir="ltr" style="line-height:1.38;margin-top:0pt;margin-bottom:0pt;"><span style="font-size:10pt;font-family:Arial;color:rgb(0,0,0);background-color:transparent;vertical-align:baseline;white-space:pre-wrap;"><span style="border:none;display:inline-block;overflow:hidden;width:475px;min-height:186px;"><img title="Chart" src="https://lh5.googleusercontent.com/OELYSp7IHcZYNXxRVCOA6HcWan5FG8xt2iRgsZTwTSQNe1Dn1gPVK8o9tuCSSA5Fe-bjDkXA_WhyG2sQ2K3NHwi8vBGKSSBHqq3bQZkTON-dwx1lxAQIxwtPt7CymWA--RFRDdc6" width="475" height="186" style="margin-left:0px;margin-top:0px;"></span></span></p><br><p dir="ltr" style="line-height:1.38;margin-top:0pt;margin-bottom:0pt;"><span style="font-size:10pt;font-family:Arial;color:rgb(0,0,0);background-color:transparent;font-weight:700;vertical-align:baseline;white-space:pre-wrap;">Despite the coronavirus we have not as yet experienced acute financial difficulties because most members have kept up their pledges and because we have received government help from the Payroll Protection Program. However, the Payroll Protection Program will not continue indefinitely.</span></p><br><p dir="ltr" style="line-height:1.38;margin-top:0pt;margin-bottom:0pt;"><span style="font-size:10pt;font-family:Arial;color:rgb(0,0,0);background-color:transparent;font-weight:700;vertical-align:baseline;white-space:pre-wrap;">We have substantial financial reserves thanks to the generosity of current and past members, but much of this is in Trust Funds that are restricted to be used for repairs to the building. We have approximately $50,000 in available cash and approximately $600,000 in restricted Trust funds. </span><a rel="nofollow" target="_blank" href="https://docs.google.com/document/d/1VljLfq7-YfeXINVmAqa2fYPTHe6zD6X9riaGC1TpICk/edit?usp=sharing" style="text-decoration-line:none;"><span style="font-size:10pt;font-family:Arial;background-color:transparent;text-decoration-line:underline;vertical-align:baseline;white-space:pre-wrap;">For a report on the church’s Trust Funds click here.</span></a><span style="font-size:10pt;font-family:Arial;color:rgb(0,0,0);background-color:transparent;vertical-align:baseline;white-space:pre-wrap;"> </span></p><br><p dir="ltr" style="line-height:1.38;margin-top:0pt;margin-bottom:0pt;"><span style="font-size:10pt;font-family:Arial;color:rgb(0,0,0);background-color:transparent;font-weight:700;vertical-align:baseline;white-space:pre-wrap;">In the fiscal year which ended on June 30, 2020 we spent </span><span style="font-size:10pt;font-family:Arial;color:rgb(255,0,0);background-color:transparent;font-weight:700;vertical-align:baseline;white-space:pre-wrap;">$30,107</span><span style="font-size:10pt;font-family:Arial;color:rgb(0,0,0);background-color:transparent;font-weight:700;vertical-align:baseline;white-space:pre-wrap;"> more than we took in. This was done intentionally to use some of our cash reserves for building repairs. For the current 2020-2021 fiscal year we project spending</span><span style="font-size:10pt;font-family:Arial;color:rgb(255,0,0);background-color:transparent;font-weight:700;vertical-align:baseline;white-space:pre-wrap;"> $28,861</span><span style="font-size:10pt;font-family:Arial;color:rgb(0,0,0);background-color:transparent;font-weight:700;vertical-align:baseline;white-space:pre-wrap;"> more than our ordinary income. However, this will be partly compensated by a $21,642.50 forgivable loan from the Payroll Protection Program. We cannot, however, count on this program after this year.. </span><a rel="nofollow" target="_blank" href="https://docs.google.com/spreadsheets/d/1CIGbfTUhqU5HkOrx4pU9fjGm57DIXGTC5gnWSZFLSW4/edit?usp=sharing" style="text-decoration-line:none;"><span style="font-size:10pt;font-family:Arial;background-color:transparent;text-decoration-line:underline;vertical-align:baseline;white-space:pre-wrap;">To see last year’s and this year’s budget in a spreadsheet click here</span></a><span style="font-size:10pt;font-family:Arial;color:rgb(0,0,0);background-color:transparent;vertical-align:baseline;white-space:pre-wrap;">. To see how actual spending matched the budget look at “Profit & Loss Budget vs. Actual July 2019 through June 2020” which you can find </span><a rel="nofollow" target="_blank" href="https://docs.google.com/spreadsheets/d/1IVWqWHFIHAdJSUx8ZWrGFfwulDAJI6Plb2t3eqAIRos/edit?usp=sharing" style="text-decoration-line:none;"><span style="font-size:10pt;font-family:Arial;background-color:transparent;text-decoration-line:underline;vertical-align:baseline;white-space:pre-wrap;">here</span></a><span style="font-size:10pt;font-family:Arial;color:rgb(0,0,0);background-color:transparent;vertical-align:baseline;white-space:pre-wrap;"> </span></p><br><p dir="ltr" style="line-height:1.38;margin-top:0pt;margin-bottom:0pt;"><span style="font-size:10pt;font-family:Arial;color:rgb(0,0,0);background-color:transparent;font-weight:700;vertical-align:baseline;white-space:pre-wrap;">In preparing the 2020-2021 budget the church did not go through the budgetary planning process that should have begun in January or February at the latest. Instead, we simply continued the spending from the previous year’s budget while adding some new items. While our reserves and a government bailout have enabled us to get away with this for one year, it is essential that we conduct a rigorous budgetary planning process next year.</span></p><br><p dir="ltr" style="line-height:1.38;margin-top:0pt;margin-bottom:0pt;"><span style="font-size:10pt;font-family:Arial;color:rgb(0,0,0);background-color:transparent;font-weight:700;vertical-align:baseline;white-space:pre-wrap;">If we are unable to reverse the decline in membership and/or get an increase in pledges we will have to make painful budgetary cuts. Since most of our budget goes to salaries, at some point this may require salary cuts. We can use trust funds to sustain the building, but not to pay the majority of operating expenses. </span><a rel="nofollow" target="_blank" href="https://docs.google.com/document/d/12RVXR3zSEZyXhmXORty5q3u7F_WW6gOvoHwsa-Y2r3U/edit?usp=sharing" style="text-decoration-line:none;"><span style="font-size:10pt;font-family:Arial;background-color:transparent;text-decoration-line:underline;vertical-align:baseline;white-space:pre-wrap;">For a detailed analysis of the proposed budget click here</span></a><span style="font-size:10pt;font-family:Arial;color:rgb(0,0,0);background-color:transparent;vertical-align:baseline;white-space:pre-wrap;">. To see the entire budget spreadsheet without analysis, </span><a rel="nofollow" target="_blank" href="https://docs.google.com/spreadsheets/d/1c70VEv36saKgwh6jAE_YX-Z2gLPEzbMQMljnn9C3U2Q/edit?usp=sharing" style="text-decoration-line:none;"><span style="font-size:10pt;font-family:Arial;background-color:transparent;text-decoration-line:underline;vertical-align:baseline;white-space:pre-wrap;">click here</span></a><span style="font-size:10pt;font-family:Arial;color:rgb(0,0,0);background-color:transparent;vertical-align:baseline;white-space:pre-wrap;">. </span></p><br><br><br></span></div></div></div>_______________________________________________<br>Fuusm-l mailing list<br><a ymailto="mailto:Fuusm-l@fuusm.org" href="mailto:Fuusm-l@fuusm.org">Fuusm-l@fuusm.org</a><br><a href="http://fuusm.org/mailman/listinfo/fuusm-l_fuusm.org" target="_blank">http://fuusm.org/mailman/listinfo/fuusm-l_fuusm.org</a><br><blockquote></blockquote></blockquote>
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