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2018-2019 Income and Expenses 2019-2020 Budget

This report provides an overview of the income and expenses for the previous year, as well as the proposed budget for the upcoming year. It highlights the various funds and fees that contribute to the financial stability of our community.

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2018-2019 Income and Expenses 2019-2020 Budget

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  1. Treasurer’s Report • 2018-2019 Income and Expenses • 2019-2020 Budget

  2. Kudos • Many people are responsible for crafting the proposed budget including: • Board of Directors • Finance Committee • Office Staff and Clergy • Torah School Board • Program Council

  3. What’s On Your Bill? Dues/Torah School Fees Building Fund FUNDS THE… Operating Budget Capital Budget

  4. Operating Budget

  5. Capital Budget Money Out: Money In: Building Fund Mortgage New Projects Major Replacements/Repairs

  6. Dedicated and Discretionary Funds • Camp Scholarship • Vicki BremanChesed Fund • Daniel Thurz Youth Fund • Torah School • Jewish Studies • Social Action • Green Tikkun • Haiti • Ritual • Library • Kulanu • Rabbi Fred • Rabbi Cantor Rachel • Rabbi Sid

  7. Other Fees Fundraising Dues Torah School

  8. HiHo/Program Clergy Torah School Administration Building

  9. HiHo/Program Torah School General/Admin Building Personnel Costs

  10. 2018/2019 Financial Highlights • Membership – Currently 445 vs. budget of 460 • Operating Budget – Project a $62K deficit • Dues –Project $30K under budget • High Holiday Appeal collections $7K over budget year to date • Declining Torah School enrollment • KA is now intertwined with our business model

  11. Balance Sheet(in thousands) • Assets as of 4/30/19 4/30/18 Current Bank Accounts, Inventory $1,170 $1,301 Fixed Land, Building, Furniture, etc. $3,693$3,692 Total Assets $4,863 $4,993 • Liabilities Current $ 498 $ 414 Long-Term $ 46 $ 48 Mortgage $ 219 $ 271 • Equity $4,100 $4,260 Total Liabilities and Equity $4,863 $4,993

  12. ADAT SHALOM 2019/2020

  13. ASSUMPTIONS Membership at 448 member units Torah School continued drop in enrollment to 85 students this coming year Kids Academy growth intertwined with our financial future 2019/20 Budget Highlights

  14. INCOME Dues increase (5%) – For example Family Dues increases by $124, from $2,536 to $2,660 No Torah School tuition increase High Holiday Appeal unchanged EXPENSE Contractual and cost-of-living increases in payroll All other expenses relatively flat 2019/20 Budget Highlights

  15. Proposed Budget 2019-2020

  16. Outlook • We are fortunate to have built up capital and operating reserve funds that enable us to absorb economic uncertainties. • We remain a financially sound community, but we face challenging long term trends: • Expenses that rise more than the capacity of a dues increase to absorb them • Contracting membership growth • Decreasing school enrollment • Continuing economic relationship with KA

  17. Careful Expense Management Strategy for the Future • Membership Growth New Sources of Funding

  18. ANY QUESTIONS? Shalom Chaverim!

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