UUFM Treasurer Eli Martinson offers the following report:

I have yet to decide how often I will provide a blurb for the newsletter–mostly because I am still working through what information will be best to provide–but I am certain that I will provide a quarterly financial update. This update will provide a brief year-to-date of income versus expenses, presented with a comparison of the previous fiscal year’s snapshot for the same period.  Additionally, I will provide investment and pledge updates.

Income vs Expenses                  

Income Expenses Net Income

2018/2019        Budget 143,000 182,937 (39,937)

1st Quarter    6/1/18-8/31/18 48,200.12 41,777.04  6,423.80

% of                    Budget 33.71 22.84  —

2017/18             Budget 143,500 176,660  (33,160)

1st Quarter    6/1/17-8/31/17 48,415.52 40,500.84  7,914.68

% of                  Budget 33.74 22.93  —

Investment Update

You may remember that we received a large gift, in two installments, from the Jim Mitchell estate last year.  Each of the two gifts were placed in 12-month CDs.  At maturity of the first CD at the end of June, $390,847 was moved to a newly created Vanguard account and placed into a money market fund.  As recommended by the Finance Committee, 20%, or $78,169, was transferred from the money mark fund to the FTSE Social Index Fund.  Below you will find a status of the Vanguard funds as of August 31, 2018.

Fund Initial Investment 8/31/18 Balance  Increase / (Decrease)

Money Market 312,678.00 313,417.60 739.60 FTSE Social Index 78,169.00 79,783.72  1,614.72

Pledge Status

The 2018/2019 pledge drive kicked-off at our annual meeting in April. This fiscal year, $130,000 was budgeted for pledges. To date, $123,500 has been pledged, and we have received $43,831.50.

If you have an interest in, or questions about, Fellowship finances; or for help in making your pledge, or setting up an automatic payment plan, please contact UUFM Treasurer Eli Martinson at elias.martinson@gmail.com.