Financial Health Mid-Year Check-In

Financial Health Mid-Year Check-In

Frank Mabrey, Treasurer

The health of Piedmont UU Church finances is strong at mid-year. Cash flows have been positive every month of the year so far. Pledges payments are ahead of where we would have expected at this point in the year. Facility rental income has been good as well. Expenses are mostly at or below where we would expect at this point in the year. Our yard sale fundraisers at the University and Salisbury Gatherings raised over $5,000, exceeding the budgeted amount.  Our positive position should not let us fall into complacency. The picture changes considerably in the second half of the year. The lead minister’s salary has been paid for the first half of the year by generous donations from angel donors.  The impact of hiring a settled minister begins to affect the cash flow beginning in July. We are also hiring a coordinator for the children’s Religious Education program. The fact that some pledges have been paid early means that pledge income will be less in the coming months.  The Finance Committee and the Board of Trustees believe that our budgeting has been conservative and that we should end the year in a strong position. It will be important to the congregation that everyone fulfill their pledge during the second half of the year.