By Denny Rodgers, Treasurer, Board of Trustees

At the annual meeting in June, we projected a net income of at least $26,000 for the last fiscal year. We netted well over that and now have over $344,000 in non-restricted/cash reserve funds available.

At the same meeting, we also approved a budget with a deficit of $37,200 and $7,200 in unbudgeted construction costs for this year. Last year’s increase in reserve funds will negate those costs. In addition, we proposed internally financing $100,000 in Capital Campaign pledges due into 2026, thereby saving over $4,000 in debt service interest.

Subtracting all of that from the reserves, we have almost $200,000 remaining. From that figure, we will hold back $150,000 as a contingency to cover three months of budgeted expenses, leaving us with $50,000 of what I call “opportunity money,” which will grow by $100,000 as Capital Campaign pledges are paid. Other assets include almost $200,000 in the Facilities Reserve Fund for future replacement or maintenance projects – and over $400,000 in the Endowment Fund.