Greetings from the Treasurer

Our UUFM fiscal year starts June 1 and runs through the end of May.  Since we have just started the new 2021/22 fiscal year, it is a good time to review last year.  The short story is that income exceeded expenses by $7,847.  We had strong contributions and expenses dropped due to Covid.  So, let us keep up the good work.

For those interested, here are more details.

Last year’s budget was $168,890.  That budget included Pastor Jonalu at 75% salary and was adopted when there was uncertainty about Covid.  We planned for $144,852 in contributions and fund raising, with $137,852 of that from pledges.  To cover the anticipated income shortfall, we assumed the need to withdraw $24,038 from the endowment.

The good news is that in this past year income exceeded expenses.  Our total income from contributions and fund raising was $164,674, with $141,391 from pledges.  Our total expenses were $156,827.  So, even though our income did not reach the budgeted income, because expenses were significantly less than budgeted, we had a net income of $7,847.  The reduction in budgeted expenses was primarily because of Covid.  Reasons for the reduced expenses include:  no need for janitorial service, miscellaneous reductions in payroll, and underspending in many categories, such as leadership development and RE.

The above discussion does not include the Payment Protection Program (PPP) loan forgiveness.  Since we maintained employment, our loan of $21,800 was for-given and becomes a grant.  This will likely be used to pay for the brick repair, which was originally expected to be paid from endowment.

So, we can feel good about last year, recognizing that expenses will likely be closer to the budget this year (depending on our ministerial search).  Also, we want to strive for a full employment minister.

Thanks to all UUFM members who volunteer and care for the Fellowship in so many critical ways.  And thanks to Sandy for her volunteer work as bookkeeper.  She manages all the details!

See everyone soon,   Daniel Swenson

To learn more about Fellowship finances and pledging opportunities, contact Dan at swenson.home@gmail.com.