Treasurer’s April Report to Congregationfundrasing-700x340

by Ev Anderson, Disbursing Treasurer, Ev1945@gmail.com

Budget Report 04-2019

To view the April Budget Report (budgeted income and expenses), click here.

As predicted last month, April saw a drop off in pledge receipts.  We took in $8,916 in 2019-20 pledges, which is well below our monthly target of $19,877.  However, total collected pledges for the first ten months of the fiscal year stand at $196,062, just 1.55% shy of our target.  (Note: While 2019-20 pledges are down slightly, members have prepaid an impressive $15,920 towards next-year pledges in connection with our recently completed 2019-20 canvass).

Total income from all sources for the year stands at $211,902, or 2.11% below target.

Happily, expenses remain in check.  They are 12% below target for the month and 7% below target for the year, at $199,150.  This is partly attributable to the savings from the still-vacant Director of Religious Exploration position.

Netting out income and expenses, we are in the red for the month but $12,752 in the black for the year.

Outside the operating budget, churchgoers donated an impressive $638 to Second Harvest from Sunday plate collections during April.  Three church funds also saw gains: Harmony Camp Fund ($700), Community Connection Events Fund ($120), and the Music Fund ($215).

UUCT’s Vanguard Endowment Fund saw impressive gains between January and March.  During that quarter, the Vanguard endowment increased $87,517, bringing its total to $817,189 – roughly $10,,000 shy of  its September 30, 2018 benchmark of $827,048.  Further gains occurred during April.  These gains erased almost all the losses during the fourth quarter of 2018.  They also show the wisdom of investing for the long term in market-tracking index funds and not trying to time the market.

We wish to thank Robert Kenon for his service on the endowment committee.  Robert recently resigned that position owing to a professional conflict.  His able replacement is assistant treasurer Ken Kent, who has deep financial expertise. Welcome to the endowment committee, Ken!