Treasurer’s Update for December 2017

As we approach calendar year-end as well as the midpoint of the fiscal year, the Fellowship’s finances continue to follow the same monthly pattern established in recent years. That is, starting with a large surplus due to early payment of pledges followed with two months of deficits and then two months of surpluses. Contributing to this pattern are a number of factors which are more detailed to explain than this space allows. However, the fact that we continue to follow an established pattern provides some reassurance that we are on track at this point in the year to reach fiscal year-end next June in sound financial shape.

Also, as we approach the mid-point of the fiscal year we are beginning the budgeting process for the 2018-2019 fiscal year. Committee chairs can expect to receive a Budget Request form to complete from the treasurer within a week. Committee Chairs will be asked for their goals for the coming year and their estimate of the dollars needed to meet those goals. Establishing the budget for the 2018-2019 fiscal year is an iterative process beginning in mid-December and continuing throughout the first part of 2018 until the final budget is approved at the annual Congregational Meeting next June.

Finally, the approach of calendar year end also signals the approach of the end of 2017 tax-year. If you have not read the Treasurer’s November Update regarding tax advantages that may be available to IRA holders who have reached the age of 70 and ½ years, I encourage you to do so.  Both you and the Fellowship can benefit from donations made by year-end. If you have any questions regarding IRA donations or any other questions for the treasurer, please feel free to contact me at the email address below.

In this season of generosity, I thank you for all the many ways you give to our community and I wish you a very joyous and peaceful holiday season.

Joan Mulcahy