SUMMER 20093/8/2009
Income:
For the period of 7/1/2008 through 2/28/2009, our income including meeting contributions has exceeded our budgeted income. Our Fiduciary accounts returned slightly more than budgeted income, and we received a $100 contribution.
Expenses:
Our expenses are tracking less than budgeted. The coordinator program expenses are under budget. Our other accounts project to be slightly under budget.
Lower Alloways Creek (donor-restricted fund):
The LAC account expenses are less than budgeted, but we anticipate a bill for grass mowing before we close the fiscal year. We have not received any bills for repairs, or for termite treatment, but we have paid $1,700 for tree service to remove the accumulated ivy growth. On the income side, we are earning slightly more than budgeted from our Fiduciary account.
Education Fund (designated fund):
Our Education Fund income is anticipated to be $126 less than the grants that were distributed. Since this account sometimes shows a surplus, we are not concerned. We’re happy that the quarter can support our young people’s education.
Monthly Meeting Contributions:
All except one meeting are up to date with their payments. We anticipate a shortfall in revenue by $3,500, which represents that meeting’s share.
Anticipated Shortfall in Fiscal Year 2010
In the first year of our experiment with a covenant for quarterly meeting, we came up nearly $10,000 short of the amount we need to operate the quarter. The Salem Quarter Steering Committee reviewed the budget. We have been contributing to Phil Anthony’s family health care coverage; Phil has advised us that he does not want the additionalcontribution in 2010. Roshan Dinshah let us know that he will not need reimbursement for his support of the Southern State Worship Group. We identified a few other areas where we can save some money. The end result is that we are very close to a balanced budget. Friends do need to consider that when we are approached for a donation, we should ask individual friends to contribute in lieu of a donation from Salem Quarter.
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Last modified:
Saturday, May 30, 2009 at 08:34 PM
