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2014 Q2 Treasurer's Report Summary

Santa Fe Monthly Meeting of Friends

Treasurer’s Report to Business Meeting, July 20, 2014

 

At the end of the second quarter of 2014, Meeting’s bank balance was $180,643. The General Fund balance was $149,326. Unrestricted donations to the General Fund totaled $12,479, about 39 percent of what was budgeted for 2014. General fund expenditures totaled $17,552, about 53 percent of the 2014 budget.

 

In June 2014, Meeting decided to change to a July-June fiscal year. A new fiscal year began July 1, and the first six months may be thought of as a transitional fiscal period. Expectations for income and expenses in the 2014 budget should be adjusted accordingly. Thus unrestricted General Fund donations were about 78 percent of the six-month expectation, and expenses were about 106 percent.

 

Only 16 percent of 2014 Good Works spending was done during the first six months, before changing to the 2014-2015 fiscal year. Theoretically we should have met 50 percent of our Good Works commitment in the first six months, though our recent practice has been to do most of this spending toward the end the year. Meeting should decide whether to make up for this by increasing the 2014-2015 Good Works budget, or simply move forward.

 

Income and expense details, a summary of income from all sources, and activity in all Meeting funds and bank accountsare provided on a separate sheet.

 

Submitted by Greg Cliburn, Treasurer

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