[Fuusm-l] Treasurer's Report and Budget Proposal for the Annual Meeting

[Ted Goertzel]

Friends,

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:

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 Balance Sheet
<https://docs.google.com/document/d/1Y7RN7KWcDPp2yWEzW0UdOycILspFcwMcArLoRLWj7Ek/edit?usp=sharing>
(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 $153,000.  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.

The budgetary details can be complex, so I encourage you to review them
online and email me with any questions and suggestions *before* the
meeting.   I am appending a Treasurer's Budget Analysis
<https://docs.google.com/document/d/1jI9o6ORR9a1AMJR51T4cTRWhrhZwixa5h46L-v5NdC8/edit?usp=sharing>
and a Budget Spreadsheet
<https://docs.google.com/spreadsheets/d/1MDlghKqarIwbdcFYvVo1SfpY3T6yVwv5o0Csp-nayFo/edit?usp=sharing>
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.
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