Treasurer’s September 2021 Report to Congregation

by Ron Clark, Disbursing Treasurer, rclark1040@gmail.com

Budget Report 9/2021

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

September pledge receipts were down significantly to $8,927, or only 46% of the budgeted amount for the month. For current year pledges, 20.3% of the pledged amount has been received this FY and 40.7% has been received when prepaid pledges are included. Pledge receipts for FY 2021-22 are 4.4% below target. No prior year pledges were received in September and collections of FY 2020-21 pledges are $12,616 short of the pledged amount. Other recurring income increased to $659 in September, bringing the FY 2021-22 total to 4.7% of budget, 20.3% below target. We are due an Employee Retention Credit (ERC) of $2,735 from the fourth quarter of 2020. No endowment dividends were transferred to the operating budget in September.

Year-to-date all major expense categories were between ½ % to 7 ½% below target.  Overall budgeted expenses were 90% of budget for the month and 1.7% below the year-to-date target. The much under budget September income resulted in expenses exceeding income by $11,858 for the month. Year-to-date budgeted expenses exceed income by $16,519.

Our endowment funds lost nearly $52,000 in value in September, but have still gained $4,160 in value since June 30, 2021.

In September $125,000 was transferred from UUCT’s money market account to the Vanguard Short-Term Federal Fund in a newly established Vanguard account. This new account was chosen to generate a higher level of income than the money market account. However, the new fund does not have a fixed price, so small positive and negative price fluctuations will occur. Although the fund paid $14 in dividends in September, the investment lost $114 in value.

In addition to the operating budget, September collections of at least $100 were:

Outreach charities

  • UUSC $100
  • Grace Mission $205
  • NAMI $285

Total $590

Respectfully submitted,
Ron Clark
Disbursing Treasurer