by Vicki Hamilton Hall, WUU Treasurer
One of the duties of the Treasurer is to provide financial reports to the board each month. The most recent monthly reports are for January – I know it seems like a long time ago but as I write this February isn’t over. In addition to an Income and Expense Statement and a Balance Sheet, Felicity prepares a Financial Dashboard Report. This is a report recommended by UUA because it shows trends, so provides a good overview. Here are two parts of the report –
Trend Analysis – shows the overall year-to-date for income and expenses compared to the budget and three previous years. You can see we’re doing well compared both to the budget and to the prior years. You might wonder why the mortgage principal is listed separately. It isn’t technically an expense – it’s a reduction of a liability – but because we need to make sure there is money to pay it each month, we budget for it but as an add-on.
Income Analysis – Since our congregation is funded primarily by the financial gifts of members (about 70%), friends and visitors, tracking these numbers enables the board to notice if there is a drop or increase in giving. This budget is spread evenly across the year when we know the timing of gifts is not. Seeing where we are compared to the same point in previous years is helpful. The plate number is only what goes toward our operating fund. We share the plate with non-profits in our community, social justice initiatives, and toward paying down the mortgage.
If you made it this far, you might want to consider joining the Finance Committee. Contact Chair, Franz Gross (franzg144@gmail.com) for more information.