The Treasurer’s Report for June 2018 which is also the year-end report for the 2017-2018 fiscal year was recently accepted by the Board and is now available on our web site in the “Member-Only Content” area. Key items from that report follow.
- Pledge income exceeded expectations by $18,062 contributing to a surplus for the year of $28,955.Other categories that contributed to the surplus were our annual auction, Sunday plate collections and Unity Plaza.
- Expenditures came in under budget by $22,485. Interestingly we were at or under budget in almost every major area except Community Outreach where we gave away via the half-plate more than was forecast.
- As a result of the higher than expected income and lower than expected expense we have a significant surplus this year which means that our Operating Reserve (uncommitted funds which could cover us in the event of major unexpected expenses or loss of income) is at a level that our Bank feels is desirable for us to qualify for the loans we need for our building project.
On completing my first year as Treasurer and submitting this report, I feel we are well positioned financially for the challenges of the coming year. Even more, I am again reminded of the generosity of this community and have confidence that our spirit to meet these challenges in every way is strong!
Joan Mulcahy
Treasurer