Fiscal Year (FY) 2017-18 YEAR-END REVIEW
by Ev Anderson
We spent $9,373 more than we earned in 2017-18, due entirely to a shortfall in non-pledge income. But we met virtually 100% of our pledge goal!
1. Income and Expenses
We budgeted $250,735 from all sources for 2017-18 but took in $240,165, a 4.21% income shortfall.
That shortfall was in Sunday collections ($3,858), sanctuary rental fees ($1,771), other income ($1,000), and fundraising ($3,867). Happily, there was negligible shortfall in pledge income. We budgeted $221,151 for pledges in 2017-18 and received $221,101 – just $50 below our goal!
This is an impressive accomplishment. As recently as 2016-17, our pledge shortfall was 4.6%. We can be justifiably proud of meeting our pledge goal in 2017-18. It is a sure sign that UUCT members and supporting friends regard their pledge promises as solemn financial covenants with our beloved community.
We can also take justifiable pride in holding down expenses. We spent $978 less than targeted in 2017-18. There was slight overspending in the RE program and building and grounds. But this was more than offset by under-spending in administration, the music program, and minister expenses.
The $9,373 difference between total income and expenses means that we finished “in the red” last year. This sum will accordingly be moved from our reserve fund to our fund balance (i.e., “unrestricted net assets.”). We will need to replenish our reserve fund by this amount to ensure that it remains at 10% of our total operating budget.
2. Church Funds and Social Justice Outreach
These two categories rely on monies collected and spent entirely outside the annual operating budget. So they require separate accounting.
UUCT operates 20 different church funds. We have funds for Capital Improvement, Harmony Camp, Memorial Gifts, Playground, Music, RE, Freethinkers’ Forum and more. Did you attend the Christmas Eve service? If so, you likely donated to the Minister’s Discretionary Fund, which benefits church members in temporary financial distress. Did you attend a UUCT Coffee House evening? Then you supported the CCE Fund. Excluding the endowment, our church funds took in $37,805 last year and spent $27,982. This included generous donations from individual members towards the new playground spinner, memorial garden improvements, and a new laptop for the sanctuary.
Altogether, our church funds posted a year-end balance of $68,929, including $26,353 in the healthy Reserve Fund. The activity and balances in these funds reflect the wide variety of interests that engage our members after the Sunday services.
Did you drop extra cash into the Sunday collection plate last year? If so, you helped support one of UUCT’s share-the-plate, social justice outreach charities. These were Kearney Center / Shelter Meals, Grace Mission, Crop Walk, Kenyan Partnership Church, Rethink Energy, Food Not Bombs, Mountain Retreat and Learning Center, UUA Guest at Table, UUA Disaster Relief Fund, UU Service Committee (UUSC), and UU United Nations Office (UU-UNO). Altogether, we collected and disbursed $9,073 to these worthy organizations.
3. The UUCT Balance Sheet
This document measures the wealth of our church. That wealth stands at $3,114,591 — an increase of $79,424 over FY 2016-17 owing to growth in our two endowment funds. It includes $2,225,455 in fixed assets (buildings and land, unadjusted), as well as $818,703 in our endowment funds and Muriel Siebert stock account, together with $70,433 in our bank operating account as of June 30.
The financial health of any church depends on the support of its members, as measured by annual pledges made and met. Our biggest financial accomplishment in 2017-18 was meeting 100% of our pledge goal. This was a resounding vote of confidence in our minister, leadership, valued staff and countless volunteers. In our most recent canvass, the congregation also voted to increase our current pledge goal by $17,368 over the prior year. This in turn has enabled us to better compensate our wonderful staff, whose good work helps attract even more prospective members to UUCT. It’s a virtuous cycle.