Current year pledge receipts of $17,893 in January was 89.4% of the budgeted monthly amount. Total current year pledges received, including prepaid pledges, comes to 60.3% of the annual pledge total. Prior year pledges of $150 were received, bringing FY 2024-25 pledges received to 98.7% of the amount pledged. Rental income totaling $2,345 brought other recurring income to $2,954, or 70.8% of the annual budget. Total budgeted income for January of $20,997 was 99.3% of the budgeted monthly amount. Year-to-date total budgeted income received is 45.4% of budget, or 13.0% below target.
Year-to-date expenses for Administration, Religious Exploration and Music ranged from 1.0% to 8.7% below their respective targets of 58.3%. Committees were 32.0% below target. Building and Grounds was 5.5% over target due to the unexpected increase in property insurance expense. Our longtime property insurance carrier has discontinued our coverage. The replacement coverage, which now includes wind damage, increases our annual property insurance cost from about $8,500 to about $20,000. In order to avoid the approximately 10% finance charge, the annual premium was fully paid in January, resulting in the need to take $13,850 from the Reserve Fund. The total of all year-to-date budgeted expenses was 55.6% of annual budget, or 2.7% below target. January budgeted expenses totaled $25,192, or 101.6% of monthly budget. Total budgeted expenses exceeded budgeted income by $4,195.
UUCT has contracted to purchase a new storage shed for $8,680 to be paid for from the Capital Improvement Fund. Contributions designated for the Capital Improvement Fund totaling $10,000 were received in December and January.
A quarterly disbursement of $4,054 was distributed among nine Share The Plate organizations. The Endowment Fund balance increased by about $31.3K in January to a total of $1.69 million. In addition to the operating budget, the January collections of at least $100 were:
Outreach charity
∙ Manna on Meridian $292.50
∙ Grace Mission $131.00
∙ Big Bend After ReEntry Coalition $418.50
Church fund
∙ Capital Improvement Fund (for new shed) $8,000.00
∙ Memorial Gifts Fund $100.00
∙ Minister’s Discretionary Fund $300.00
Respectfully submitted,
Ron Clark
Disbursing Treasurer