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Finance Committee Report 5-15

Finance Committee Report
Bob Gaines, Convener
May 17, 2015

The Finance Committee proposes an operations-only budget for 2015-16.

Donations over the past 5 years have been declining from $30,072 in 2010 to $19,290 in 2013 and $19,686 so far this year (excluding the $10,000 Corneli bequest).

Operating expenses have fluctuated between $17,421 in 2010 and about $19,500 this year (over that period actual operating expenses have been between $2,000 and $6,000 less than budgeted operating expenses -- in 2014-15 we budgeted for operating expenses of $27,920, but actual operating expenses may be only about $19,500).

In light of declining donations, it does not appear that we are able to budget for both operating expenses and Good Works donations without some change -- such as increased donations to the general fund or decreased Good Works donations.

So, to provide the business meeting with a clear sense of what we can do with the current (and anticipated) level of donations, we are presenting for discussion this operations-only budget for 2015-16. 

David Henkel will be presenting a Good Works budget, and the meeting can decide how or whether they want to fund it.

Proposed operating expenses for 2015-16 are budgeted at $23,100, which should be closer to actual expenses (utilities and committee expenses are always variable).

At last month's business meeting there was a question about over-budget library expenses.  The budget was $75, but the FJ and Western Friend subscriptions were $143, an oversight by the finance committee in preparing the budget (the proposed budget for the library has been increased to cover the next LJ subscription, and the current WF sub is for 2 years).  The meeting also authorized purchase of copies of journal with an article about Olive Rush, plus there was an order of songbooks.

The committee suggests the business meeting clarify who is authorized to make library purchases as the treasurer is not in a position to make that determination but must pay bills for items or services already received by the meeting.

Also at last month's business meeting there was a suggestion that perhaps the Corneli bequest should be considered special and not be used for ongoing expenses.  If there are not sufficient other general fund donations to make all of the 2014-15 Good Works donations, the committee recommends that the Corneli bequest be used for those donations.

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