Treasurer Report jan 2012
After five months or about 42% of the fiscal year, we have received total revenues of $270,934 which represents 48% of the amount budgeted for the year. This is about 1% more than the total amount of revenue received in the same period last year.
Our current year pledge payments received were $176,369 which represents 43% of the amount budgeted, but it is also about 9% lower than what was received in the same period last year. The fact that our pledge receipts this year are running somewhat behind those receipts last year is surprising.
Unpledged donations now represent 82% of the amount budgeted, plate cash represents 59% of the amount budgeted and fund raising income equals 76% of the amount budgeted. On the other hand, Grocery Scrip Profit is about 37% of the amount budgeted and Great Lakes Scrip income is about 35% of the amount budgeted. Grocery Scrip Profit is slightly above the amount received in this time period last year, but Great Lakes Scrip income is nearly 40% lower than last year.
After five months, our total expenses were $238,774 which is about 42% of the amount budgeted, but is also about 26% higher than our expenses at the same time last year.
In November, our expenses exceeded our revenues by $8,639 and as a result, for the first five months our net income was reduced to $32,160. This may be compared to last year in which, after five months, our net income was $78,737.
Based on a continuing comparison of this fiscal year with last fiscal year, our overall revenues are very similar, but our expenses are significantly higher this year, which explains why at this point are net income is significantly lower than last year.
We still appear to be in good financial shape. However, we will want to continue to monitor our pledge receipts and our overall expenditures in the next few months to determine our continuing financial position. I am hopeful that the pledge statements that were distributed recently will lead to an increased amount of pledge receipts in the remaining weeks of December.
Doug Webbink, Treasurer
Treasurer@uucharlottesville.org