<div dir="ltr"><div dir="ltr"><div class="gmail_default" style="font-family:georgia,serif">Friends,</div><div class="gmail_default" style="font-family:georgia,serif"><br></div><div class="gmail_default" style="font-family:georgia,serif">I am sharing the Treasurer's Report and Budget Proposal for the Annual Meeting which will be on Sunday, April 25, at 11 am both in Zoom and in the sanctuary. Here is the executive summary:</div><div class="gmail_default" style="font-family:georgia,serif">  </div><div class="gmail_default" style="font-family:georgia,serif"><span style="text-indent:36pt;background-color:transparent;font-variant-numeric:normal;font-variant-east-asian:normal;font-size:12pt;font-family:Arial;color:rgb(0,0,0);font-weight:700;font-style:italic;vertical-align:baseline;white-space:pre-wrap">In summary, we are not in a crisis for next year, but we will have budgetary problems beginning in the following year if we are unable to reverse the declining trend in membership and pledge revenue.  We would be in a significant deficit situation now if it were not for the Payroll Protection Plan, and we cannot expect these forgivable loans to continue. We do have approximately $80,000 cash in the bank to draw on, and over $900,000 in Trust Fund assets, as shown in the</span><a href="https://docs.google.com/document/d/1Y7RN7KWcDPp2yWEzW0UdOycILspFcwMcArLoRLWj7Ek/edit?usp=sharing" style="text-indent:36pt;font-family:Arial,Helvetica,sans-serif;text-decoration-line:none"><span style="font-size:12pt;font-family:Arial;background-color:transparent;font-weight:700;font-style:italic;font-variant-numeric:normal;font-variant-east-asian:normal;text-decoration-line:underline;vertical-align:baseline;white-space:pre-wrap"> Balance Sheet</span></a><span style="text-indent:36pt;background-color:transparent;font-variant-numeric:normal;font-variant-east-asian:normal;font-size:12pt;font-family:Arial;color:rgb(0,0,0);font-weight:700;font-style:italic;vertical-align:baseline;white-space:pre-wrap"> (a somewhat difficult document to interpret).  So we are a better off than many churches that have debts as well as declining revenue. But most of the Trust Fund money is restricted and can only be used for building maintenance.  If we have to cut expenditures, the only significant place to cut is employee compensation which is projected at $105,000 in a total budget of $153,00</span><span style="text-indent:36pt;background-color:transparent;font-variant-numeric:normal;font-variant-east-asian:normal;font-size:12pt;font-family:Arial;color:rgb(0,0,0);font-weight:700;vertical-align:baseline;white-space:pre-wrap">0.  But I am not recommending cuts at this time, indeed the PPP forgivable loan requires us to continue payroll expenditures for at least a few weeks into the new fiscal year.</span></div><div><span style="text-indent:36pt;background-color:transparent;font-variant-numeric:normal;font-variant-east-asian:normal;font-size:12pt;font-family:Arial;color:rgb(0,0,0);font-weight:700;vertical-align:baseline;white-space:pre-wrap"><br></span></div><div class="gmail_default" style="font-family:georgia,serif">The budgetary details can be complex, so I encourage you to review them online and email me with any questions and suggestions <u>before</u> the meeting.   I am appending a <a href="https://docs.google.com/document/d/1jI9o6ORR9a1AMJR51T4cTRWhrhZwixa5h46L-v5NdC8/edit?usp=sharing">Treasurer's Budget Analysis</a> and a <a href="https://docs.google.com/spreadsheets/d/1MDlghKqarIwbdcFYvVo1SfpY3T6yVwv5o0Csp-nayFo/edit?usp=sharing">Budget Spreadsheet</a> which includes data from previous years.  The proposed budget, which the Board has recommended adopting, is in Column H.  I am sending the spreadsheet in a Google Docs format that is probably best for reading online, and that can be corrected if necessary, and also as a PDF that is convenient for printing.  <br></div><div class="gmail_default" style="font-family:georgia,serif"><br></div><div class="gmail_default" style="font-family:georgia,serif"><br></div><div class="gmail_default" style="font-family:georgia,serif"><br></div><div class="gmail_default" style="font-family:georgia,serif"><br></div></div></div>