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   October 2018   
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Treasurer's Report

 

FROM THE TREASURER
Results for July 01, 2018 through August 31, 2018

The results for the first two months of the Fiscal Year 2018-2019 show us with a positive NOI of $45,217. At this same time last year our NOI was $42,829. As we have experienced in the past, the first quarter of the fiscal year tends to have higher NOIs because some congregants pay their entire year’s pledge in the first few months.

For the past three years, we have been using a calculation to project the direction we are heading. We compare the current period’s income versus the previous year’s income (during the same time period), add to that the difference between the current period’s expenses versus the previous year’s expenses (during the same period). After arriving at this figure (considered the variance) we add or subtract the pre-vious year’s ending NOI. The figure we arrived at after doing this with the August 2018 month-end figures is was a projected NOI (for the 2018/19 Fiscal Year) of positive $4,234.

We are now in receipt of the check from the Derry Bortner-Ryder Remainder Trust. This donation represents unrestricted funds. As indicated in the September Newsletter, we will be allocating these funds as follows:

 $50,000 to start an endowment

 $50,000 capital campaign

 $13,347 toward the 2018-2019 budget

If you ever have questions about anything mentioned in these reports, please contact me in person or send an email to tlescoe@hotmail.com.

 

Payment Options:​

Did you know that you can pay your financial commitment with stocks and bonds? A fair number of congregants pay in that manner. We have a financial arrangement with Charles Schwab to sell any donated stocks and bonds and we provide to you information on the price of the securities sold for your tax records. This can be a smart way of funding, especially for stocks that have appreciated. You can contact the person that prepares your taxes for more information on whether this would be advantageous for you. Also, if you have any further questions, please contact me.

 

Tom Lescoe, Treasurer, tlescoe@hotmail.com