We closed the 2021-2022 Fiscal Year with a $10k surplus (income exceeding expenses).
Recorded Pledge Income lagged the amount recorded as pledges by over $40k – a concerning result that we are investigating.
Expenses for the year were below budget, largely attributable to the reduced COVID – related staffing and facilities charges:
• Staffing -$24k
• Operations -$11k
• Programming -$3k
Bank Account Balances total $1.47 million:
• $542k Operating combined balances
• $691k Capital Campaign
• $293k Endowment
• -$54k Exchange
A budget deficit of $38k for this fiscal year and a projected $75k deficit in the following year will reduce our account balances while retaining a fiscally comfortable Reserve.
The Board and Stewardship are strategizing how to close the budget gap going forward.