FALL 2007

Finance Committee Report

June 10, 2006

Actual Income and Expenses compared to Budget for 2006-2007

Income and expenses are generally in line with the budgeted projections, with some specific differences.

Income

For the period of July 1, 2006 through June 1, 2007, our income is very close to our budgeted income. Our Fiduciary accounts are returning slightly more than budgeted income, and we expect to earn about $100 more than budgeted. We also received a $350 contribution.

Expenses

All expense budgets remain underspent compared to budget.

Lower Alloways Creek (donor-restricted fund)

In the Lower Alloways Creek account, the only expenses to date are for insurance and mowing. The in-surance bill of $1,686 exceeded the budgeted estimate of $1,000, as previously reported. For mowing, we have spent $4,375 compared to our budget of $2,700. Of this amount, $3,500 was for tree and debris removal. We have not yet seen any bills for repairs, tree service, or termite treatment.

Education Fund (designated fund)

As previously reported, we distributed $7,600 in scholarship grants. We project that the scholarship in-come from their Fiduciary account will be slightly higher than budgeted by about $455, which will be reinvested in the Education Fund account.

Monthly Meeting Contributions

Monthly meeting payments to SQM and PYM are on track, with several meetings paid through the end of the fiscal year on June 30. We hope "the check is in the mail" for the others.

	PYM Covenant	SQM Share	Total Committed	Paid to Date
Greenwich	individual contributions	$4,469	$4,669	$2,018
Mickleton	$7,000	$6,000	$13,000	$9,450
Mullica Hill	$8,450	$6,419	$14,869	$14,869
Salem	$19,500	$15,500	$35,000	$34,400
Seaville	$1,500	$5,500	$7,000	$5,250
Woodbury	$3,952	$3,800	$7,752	$7,752
Woodstown	$20,100	$13,500	$33,600	$33,600
TOTALS	$60,502	$55,538	$118,890	$107,339

RETURN TO TABLE OF CONTENTS

Copyright © 2007, Salem Quarterly Meeting
comment about this page to SQM webmaster

Last modified: Sunday, August 12, 2007 at 11:22 PM