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Monthly Summary – Treasurer’s Ledger

February 1, 2018

Monthly Report

We have completed seven months of the fiscal year and we still appear to be close to budget.

  • P&L: The P&L is on a modified cash/accrual basis.  On the income portion, for the most part, amounts shown are the cash received for the current fiscal year.  Billed but not paid amounts are not recorded. Primarily, the items that have outstanding billed amounts are school fees and dinners, dues and rental income.  On the expense portion, most recurring monthly items, including payroll, are posted when paid.  We pay all of our bills as soon as they are received and have no long-term contracts (except for employment).  Program expense, most maintenance expenses and any other significant expenses are adjusted to the proper fiscal year.
  • Income: We have already exceeded the Annual and General Fund budgets, and are doing better than last year at this time with Dues.  Rental income is also impressive – net is $23,745, a bit better than last year.  Based on what is due for school fees and dues ($6,323 and $118,761, respectively), and even taking into account what typically doesn’t get paid, it looks like we will reach budget for both accounts.
  • Expenses: we are a bit over budget (not good) for Onegs.  We need more families to help sponsor Onegs.  Garden weeding is also over budget.  Frankly, this was a budget error.  Based on past year’s expenses it should have been budgeted higher.  Salaries and Benefits are looking good (61% of all expenses).  Nothing else is really noteworthy at this time.
  • The year-end projected budget number is a deficit of $12,525.
  • Balance Sheet:  All checking/savings amounts are accurate.  I have adjusted the balance sheet and the audit for FY16 (ending June, 30 2016) is finally completed, so all the numbers are accurate.  I have also reworked some accounts to make it easier to understand.
  • The operating cash position is at a healthy $254,408, $11,634 better than last year at this time.  (Operating means funds for our day-to-day operating expenses.  It doesn’t include capital campaign or restricted funds.)  Some families wishing to be able to deduct dues and donations prior to the tax law change helped bring in money sooner than normal.  Since most of the income arrives at the beginning of the fiscal year and the expenses are spread throughout the year, I would expect the cash position to decrease a bit for the next five months.
  • Mortgage: at the end of December was at $500,000, with $200,151 of cash in our capital campaign accounts.  On January 2nd we paid $115,000 to the bank to reduce the balance to $385,000.  This satisfies the principal payments for 2018.  One February 5th we paid down the mortgage by another $30,000 – to $355,000.  The monthly interest payments are now $500 less than in December.

Monthly Financial Package

Balance Sheet January 2018>>

P&L January 2018>>

P&L Notes January 2018>>

Consolidated P&L January 2018>>

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Congregation Bet Ha’am’s Judaica Shop is establishing itself as a leading regional opportunity for unique Judaica jewelry, holiday gifts and supplies, children’s items, and everyday items.  The Judaica Shop is open 9:00 AM – 2:00 PM Tuesday-Friday and Sunday mornings when our Religious School is open.  Please call (207) 879-0028 for inquiries or requests for special order items.  This page will soon have photos and ordering information for specific Judaica items.


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