Annual Congregational Meeting, May 18, 2008

Treasurer’s Report, Dick Rolfes

The financial challenge currently facing UUC is the drop-off in pledge income. After averaging $25,000 per month during the first seven months of the church fiscal year, pledge income has averaged less than $20,000 per month for the last four months. This seasonal decline is much larger than normal and, I suspect, is traceable in part to economic conditions. We are now hopefully projecting that Pledge Income for the full year will be $10,000 below budget and $17,000 less than last year. Receipts from the Collection Plate and Rental Income will also each be $3,000 to $4,000 less that budget.

Fortunately, income from the Oil Leases bequeathed to us by a former member jumped dramatically with the rise in crude oil prices and produced $13,500 more than budgeted. We also benefitted from the efforts of all the members who worked on programs and fundraising events. The $33,700 raised will exceed budget by $4,000.

Current projections for the full year are for Total Income about $2,000 over budget and Total Expenses about $2,000 below budget. However, since we had budgeted a deficit of almost $22,000, the projected deficit is still over $17,000.

The proposed budget for next year that Ed Kraemer will present shows how these developments will impact our finances next year.

We plan to begin making financial information available to the congregation more frequently. The first step will be to publish the May 31 year-end statements, probably on the UUC web site.