Mid-Year Financial Update – Dec. 2017

UUCWC continues to build its strong financial position through solid dedication, generosity and stewardship. We are tracking very similarly to last year with some expenses coming earlier in the year but still very much on budget with a modest surplus. Our reserves remain strong with approximately 4.9 months of expense on hand and we hold funds for projects in escrow including building maintenance which we are funding responsibly. It is with great joy that we enter 2018 on sound financial footing as we plan for the years to come!

About the table: The first column of numbers represents the current year’s approved annual budget. The second column shows our actual revenues and expenditures through the December, and may be compared to where we were a year ago (last column). The third column indicates the extent income or expenses are below or over budget for the same year-to-date (YTD) period. Ideally, the percentages for the Income rows should be equal to or greater than 100% of budget, while those for Expenses should be equal to or under 100%.

Expense flow is not uniform throughout the year and can be significantly higher in the deep winter due to energy and snow removal expenses which we will see in the coming months. Other uneven “cash flow” norms that impact our budget flow include early year expenses like insurance, summer pledges which tend to be lower and our major fund raising event, the auction, which occurs in the spring.

The Board, Finance and Stewardship Committees, are grateful for your ongoing generosity to UUCWC.

Joe Schenk, Chair, Finance Committee
Lynne Quinto, Treasurer