I’m highlighting the status of VIUF’s financial state through the 2nd Quarter of Fiscal Year 2021-22 (our half way point):
Pledges and Non-pledge Donations
1) Of those congregants who made pledges at the beginning of the year, 67% have made contributions toward pledge fulfillment. I’m optimistic that we’ll get closer to 100% participation as the year goes on.
2) Total pledge payments received through the 2nd Quarter have exceeded the budgeted pledge goal for the quarter.
3) Non-pledge donations received have increased over last year’s totals at this time. This is due to contributions made from a variety of new non-members as a result of their attendance to our Sunday services on Zoom.
4) Substantial income has been generated from Sunday Market sales, commissions from donations to Luna Bella, Rocket and Lost & Found, and rebates from Thriftway and IGA based on grocery receipts submitted.
Financial Health of VIUF
1) The 2021-22 VIUF Budget remains in positive territory. Our budgeted income exceeds our expenses through Q2 by over $12,000. This is due is to two factors: A) There are fewer expenses incurred as a result of meeting on-line, and B) There has been a payroll expense decrease because we no longer have a RE Coordinator or Teacher.
2) Regarding our financial assets held at Puget Sound Community Credit Union, our Checking Account balance is over $85,000, our Shared Savings Account balance is over $12,000, and our Emergency/Contingency Reserve Account is at $12,000. Our UUCEF custodial account, which manages the Bernice Black Memorial Scholarship money, totals close to $60,000.
Overall, our congregation is doing well financially at this time and is on target to meet budgeted goals for this fiscal year. Many thanks go out to all who support our beloved VIUF with your generous financial contributions. As more people fulfill their pledge commitments throughout the second half of our fiscal year, we will end to year financially secure.
In Service and Trust,