Summary: Investments, income & expenditures ALL DOWN.
Last year, investments were up markedly although income and expenditures were both on a continuing downward trend.
So this year is the first recent year where our investments have declined over the year, due to stock market drops in the last half of 2018. We went from 338 000 $ on 1 May 2018 to 310 000 $ on 31 December 2018. However, please note the recovery to 329 000 $ by 28 February 2019. See the LIQUID ASSETS graph above.
Also, as predicted last year, this year, the Board needed to withdraw of 5000 $ TWICE from investment fund (BLUE). This is consequent with the worrying trend noted last year of lower amounts each year in our BMO current account at year end (RED). Of course, the RED bar is higher this year because of the second withdrawal from LAM being added to the BMO account.
Income down to 75% of 2016-2017, compared to down to 82% of 2016-2017 last year (2017-2018). See the TOTAL INCOME graph above.
- So slowing decline in income
- Thanks to increase in wedding fees (BLUE) and marginally music program fees (YELLOW)
- Service Auction raised about 1425 $ (NOT final) vs. 1700 $ last year vs. near 2900 $ previous year (in GREEN)
- Pledge income is about 2000 $ short of this year’s goal of 21 000 $, but most of April’s contributions are not counted yet
- Over-all we are down about 10 000 $ (28 000 $ vs. 38 000 $) compared to two years ago (2016-2017)
- Roughly we are at the same income level as we were at in 2010-2011 but with much lower expenditures
Expenditures are also thankfully down compared to last year. See the EXPENDITURES graph above.
- Total salaries for music, S.E. and administration are almost exactly the same as last year (in BLUE)
- Again this year, religious expenditures (YELLOW) are lower than the previous year by 2 000 $ and lower than budgeted by 3 000 $
- Thanks in good part to the Sunday Service programming chaired by Sheila, with more in-house presentations than previously
- Administrative expenses down slightly, partly due to lower property expenditures
Property: purchase of carpet for Little Maestros / Petits maestros, also available for SE if needed.
The Treasurer will mail out a personalized pledge form with last calendar year’s contribution to those who have not yet returned a pledge form.