Treasurer’s Report to the Congregation – June 2022

The status of UUCWC finances as of June 2, 2022 is as follows:
• Financial indications for UUCWC remain positive with a $43k positive variance – income to expenses
• Pledge income lags $40k to budget – $40k: the Stewardship Team will follow up
• Lynne Quinto is fully immersed in her Controller responsibilities, aided by Mary Baltycki
• Bank Account Balances total $1.46 million:

$571k Operating combined balances
$683k Capital Campaign
$293k Endowment
-$67k Exchange

Final Thoughts:

  1. A budget deficit of $38k for the coming fiscal year is included in what was approved by the Congregational Vote at the Annual Meeting on June 5th.
  2. The Board and Stewardship will be strategizing about how to close the budget gap going forward.
  3. The deficit budget will draw down Operating Reserves of just under $200k and fully exhaust them in 2-3 years absent substantial increases in income.