Money Matters 7/1/2026
Money Matters – Annual Meeting
Thanks to all who came to the Annual Meeting and participated in a healthy discussion of the budget for fiscal year July 1, 2026 to June 30, 2027. There were many thoughtful comments and questions. The approved operating budget has a deficit of $14,433. This includes amendments to increase the Social Justice Committee budget by $1,500 for the Night Ministry and to increase UUA dues by $200.
Also, thank you to the members for approving 3 finance related changes to the bylaws. The changes were:
To remove the requirement to have 2 board members sign each check and instead require that signers must be approved by the board, as is consistent with our current practice; our policies further detail the requirements for check signatures;
To remove the requirement to have an annual outside audit of the Church’s books, something that has never been done, would be very expensive and is not typical for our size of organization; we have several procedures in place to help safeguard the Church’s financial assets, including periodic reviews of bank statements and expenses by a Church member that is not on the Finance Committee; and
To remove the highly detailed endowment section of the bylaws and instead manage our endowments by existing policies, which includes an endowment policy that covers the details that had been in the bylaws; having the Endowment Committee procedures in the bylaws was not consistent with how other committees are managed and using Church policies helps ensure we have an effective process.
Actual July to May Results
Total Revenue $ 456,226
Total Expenses $ 446,743
Net Operating Income $9,483 (excludes special $70,000 donation used to pay off mortgage)
May Results
The actual results for July through May show net operating income, decreasing approximately $10,000 from last month. Pledges are approximately $6,800 above expected. Our strong collection plate receipts combined with successful fundraisers continue to offset being underbudgeted for rental income, RaiseRight income and earnings on our LE Fitts fund. Our overall expenses are approximately $12,000 overbudget. High utility costs, computers for our administrative office, a new sound mixer and water damage costs were partially offset by early payoff of our mortgage and donated cleaning service by a member for part of the year.
While there is uncertainty, I am projecting that we will have approximately $3,000 net income at the end of the year. This assumes that our committees use their full budgets and that our utilities continue to be higher than budgeted. Rental income is expected to exceed budget by the end of the year.
Major Maintenance Project Update
The Finance Committee and Building, Infrastructure & Grounds have started developing a budget for capital projects to evaluate capital projects needed in the near-term and long-term. We already have quite a list! Projects include replacing an old furnace, tuckpointing the building, upgrading our AV equipment, making Fleishman Hall a more inviting space, flooring in the Youth Room and more.
Expected costs for remaining capital campaign projects include approximately $4,900 for capital campaign work done but not yet invoiced, approximately $20,000 to install a hardscaping base for trash carts and $6,000-$12,000 for landscaping and $12,000 work on the windows in the Loft. Mirek Construction has agreed to repair the damage to our collapsed catch basin.
We are still relying on capital campaign pledges to help cover these projects. Thanks to all who have fully paid their pledge. If you still owe amounts, we greatly appreciate your payments.
Respectfully submitted,
