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UUCPA Town Hall�Proposed Budget

UCCPA Finance Committee

4/7/2024

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Update on the current year financials up to February ‘24 vs Budget FY ‘23-24

Forecasted year-end vs planned Budget FY’23-24

FY 23-24 Financial and Budget Update

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For the fiscal year ’23-24, we are projecting to be flat compared to the planned budget.

This fiscal year’s saving graces have rental income:

1. Rental income is on the rise.
2. We have also rented out part of the parking lot during the week for the construction workers next door.

Current FY ’23-24 Budget Highlight

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FY’23-24 Budget vs Forecast

The approved budget pledge is $550k. The current pledge is expected to be $525k. A pledge shortfall of $25k.

Total approved budget income was planned to be $732k. The current income is projected to be $730k. This will cause a surplus of $2k vs the budget. Rental income made up the difference in the shortfall in pledges.

The approved expense budget was plan to be $752k. The current expenses are projected to be $729k, which results in an expense savings of $23k.

As a result, we expect to be flat “$1k” for this fiscal year.

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FY’23-24 Revenue: Actual (Feb YTD) vs Budget

	Approved Revenue Budget	Actual Revenue through February	Difference between Budget and Actual Feb YTD Revenue
Pledge	$550,000	$464,374	-$75,626
Other, Plate	27,000	26,460	-540
Fund Raising	17,000	24,180	7,180
Fund Raising Subtotal	594,000	515,014	-78,986
non-lease	80,000	107,107	27,107
Thacher	39,500	32,900	-6,600
Rent subtotal	119,500	140,007	20,507
Total Revenue	$731,900	$655,021	-$76,879

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FY’23-24 Expenses: Actual (Feb YTD) & Projected vs Budget

	Approved Expense Budget	Actual Expenses through February	Difference between Budget and Feb YTD Expenses
Revenue	$731,900	$655,021	-$76,879
Staff	595,089	$481,499	-$113,590
Office	12,800	9,704	3,096
Services, utilities, Ins,..	79,000	66,075	-12,925
Maintenance	13,400	7,933	-5,467
Programs	20,151	15,398	-4,753
Governance	2,050	1,685	-365
Denominational	29,412	24,396	-5,016
Total Expenses	$751,902	$606,670	-$145,232

Net Income	-$20,002	$48,351	$68,353

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FY’23-24 Revenue: Forecast vs Budget

	Approved Revenue Budget	Projected Revenue for Fiscal Year	Difference between Budget and Projected Revenue
Pledge	$550,000	$525,000	-$25,000
Other, Plate	44,000	30,000	-14,000
Fund Raising	18,400	25,000	6,600
Fund Raising Subtotal	612,400	580,000	-32,400
non-lease	80,000	110,000	30,000
Thacher	39,500	39,500	0
Rent subtotal	119,500	149,500	30,000
Total Revenue	$731,900	$729,500	$2,400

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FY’23-24 Expenses: Actual (Feb YTD) & Projected vs Budget

	Approved Expense Budget	Projected Expenses for the Fiscal Year	Difference between Budget and Projected Expenses Delta
Revenue	$731,900	$729,500	$2,400
Staff	595,089	$573,000	-$22,089
Office	12,800	12,000	800
Services, utilities, Ins,..	79,000	84,000	-5,000
Maintenance	13,400	10,000	3,400
Programs	20,151	18,500	1,651
Governance	2,050	1,700	350
Denominational	29,412	29,500	-88
Total Expenses	$751,902	$728,700	$23.202

Net Income	-$20,002	$800	20,802

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Proposed Budget FY ’24-25

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Total number of pledges received as of this week: 128

Total pledged amount as of 4.6.24 is $502k

Year over year of total pledge income by the same pledge donors decreased by $71k offset partially by new pledges of $21k.

Average Pledge to date: $3,921

Median pledge to date: $2,399

The pledge goal of $550 for this year is unchanged from last year. We are currently short of our goal by $48k.

FY 24 -25 Pledge Update as 4.6.24

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The pledge income is budgeted to be $502k (72% of total income) and are currently short by $48k.

We increased our rental projections to $123k from this year’s projected rental income of $110k. Mostly due to parking rental of $40k for the construction workers next door.

Bequests go into the Capital Fund. Bequest YTD are less than $1k this year.

The annual goal is to have Total Income equal Total Expenses for a balanced budget.

Proposed Budget Income – FY ’24-25

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Proposed Income Budget – FY ’24-25

Note: For the Budget, the income is based on latest pledge information and slight increases in the rental income with some selective income changes.

	Budget	Projected	Budget	% of
	Fiscal 2023-24	Fiscal 2023-24	Fiscal 2024-25	Total
Pledge	$550,000	$525,000	$502,398	72%
Other, Plate	44,000	30,000	30,500	4%
Fund Raising	18,400	25,000	6,600	1%
Donation Subtotal	612,400	580,000	539,498	77%
non-lease	80,000	110,000	123,000	18%
Thacher	39,500	39,500	40,100	6%
Rent subtotal	119,500	149,500	163,100	24%
Total Income	$731,900	$729,500	$702,598	100%

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Proposed Budget Expenses – FY ’24-25

Expenses are based upon the current spending rate, plus inflation (3.0%), where appropriate.

Staff expenses are about 77% of total expenses. The Staff will receive a cost of living increase.

UUA dues are at 100% of fair share.

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Proposed Expense Budget – FY ’23-24

Note: The Budget maintained a position for a membership coordinator. Expense are more in line with actual spending in opening up the campus.

	Budget	Forecast	Budget	% of
	Fiscal 23-24	Fiscal 23-24	Fiscal 24-25	Total
Staff	$595,089	$573,000	$598,860	77%
Office	12,800	12,000	14,800	2%
Services, utilities, Ins,..	79,000	84,000	91,100	12%
Maintenance	13,400	10,000	12,900	2%
Programs	20,151	18,500	22,200	3%
Governance	2,050	1,700	5,200	1%
Denominational	29,412	29,500	30,706	4%
Total Expenses	$751,902	$728,700	$775,766	100%

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Proposed Budget– FY ’24-25

	Budget	Forecast	Budget
	Fiscal 23-24	Fiscal 23-24	Fiscal 24-25
Total Revenue	$731,900	$729,500	$702,598
Total Expenses	751,902	728,700	775,766
Net Income	-$20,002	$800	-$73,168

We project small surplus in the amount of $1k that will go into the capital fund.

The proposed budget is should be net zero, but it is currently $73k short.

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FY’24-25 Budget - Staff and Office Expenses

Personal Expenses	Budget 2023-24	Forecasted 2023-24	Budget 2024-25
Salaries & Related	$499,485	$481,000	$497,545
Benefits	95,604	92,000	101,316
Total Staff	$595,089	$573,000	$598,860

Office Expenses	Budget 2023-24	Forecasted 2023-24	Budget 2024-25
Office Supplies	$4,000	$5,500	$6,800
Postage and Mailing	1,300	2,000	2,000
General Supplies	6,000	3,000	4,000
Data Storage	1,500	1,500	2,000
Total Office and Admin	$12,800	$12,000	$14,800

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FY’24-25 Budget - Utilities etc. Expenses

Utilities etc. Expenses	Budget 2023-24	Forecasted 2023-24	Budget 2024-25
Service contracts & repairs	$17,000	$25,000	$32,000
Telephone	10,000	9,000	9,000
Utilities	30,000	28,250	30,000
Security Systems	1,200	250	-
Insurance - non-employee	16,000	16,000	17,000
Taxes and fees	2,400	2,000	-
Heritage Bank Fees	2,400	3,500	3,000
Bookshop COGS	-	-	100
Total Utilities etc.	$79,000	$84,000	$91,100

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FY’24-25 Budget - Maintenance Expenses

Maintenance Expenses	Budget 2023-24	Forecasted 2023-24	Budget 2024-25
Maintenance and Repairs	$5,000	$1,000	$5,000
Landscape Projects	1,000	500	-
Routine Maint./Supplies	5,000	7,500	7,000
Pest control	800	1,000	900
Piano Tuning	1,600	-	-
Total Maintenance	$13,400	$10,000	$12,900

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FY’24-25 Budget - Program Expenses

Program Expenses	Budget 2023-24	Forecasted 2023-24	Budget 2024-25
Music Program	$4,000	$4,000	$5,000
Pulpit Committee	4,000	5,500	4,000
CYRE-Children Youth Rel Edu	2,000	1,000	2,000
Adult Religious Education	1,000	-	1,000
Social Action Council/Committee	1,000	1,000	1,000
Caring Committee	151	-	200
Sunday Morning Musicians	8,000	7,000	9,000
Total Program	$20,151	$18,500	$22,200

Several new committee spending in which they previously paid it themselves.

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FY’24-25 Budget - Gov/Denominational Expenses

Governance Expenses	Budget 2023-24	Forecasted 2023-24	Budget 2024-25
Leadership	$0	$1,195	$1,200
Board of Trustees	1,050	470	1,000
Membership Renewal	1,000	35	3,000
Total Governance Expenses	$2,050	$1,700	$5,200

Denominational Expenses	Budget 2023-24	Forecasted 2023-24	Budget 2024-25
Annual Fund - UUA	$27,460	$28,524	$29,488
Annual Fund - UUSC	976	976	609
Other - UU Jus Min	976	0	609
Total Denominational	$29,412	$29,500	$30,706

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Budgeted Maintenance Projects – FY’23-24

2023-24 Recommended Capital Projects	Budget ‘23-24
Downspouts, gutters and storm drains	$100,000
Dry rot repairs and Covered Walkways roofing	80,000
HVAC repair in Minister's Office Contribution	40,000
Contractor Consultant	25,000
Contingencies	15,000
Total	$260,000

Campus improvement projects

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Completed Maintenance Projects – FY’23-24

Recommended Capital Projects	Budget ‘23-24
Fix Sewer Lines	64,744

Total	64,744

We has a massive sewer fail in March.

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Budget Capital Projects – FY ’24-25

Recommended Capital Projects	Budget ‘24-25
Covered Walkways roofing and reroofing	$130,000
HVAC repair in Minister's Office Contribution	86,000
Repaving and restriping the driveway and parking	50,000
Contingencies	15,000
Total	$281,000

Campus Improvement Projects

Expected dry rot repairs and roofing in the next three years to be $250k - $300k.

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Bank Funds as of 2/29/24

Capital Fund	Amount
Heritage Bank - Cash	$105,000
Schwab	1,314,000
UUA - Investment	871,000
Total	$2,290,000

Best practice to keep 4 months spending in cash - $250k

FY24-25 Capital Budget - $281k

Campus Vision Fund - $1,030k

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Final Budget Thoughts

This is the proposed income and expense budget for fiscal year 2024-25. We are currently short in presenting a balanced budget this year.

Any budget shortfall will result in cutting expenses or taking money out of the cash endowment fund.

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Q & A

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Thank You