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.