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Monthly Summary – Treasurer’s Ledger

Report for the month ending February 28, 2018

We have completed eight 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: A huge thank you to everyone who has given so generously to the Annual and General Funds; we’re ahead of budget for both.  We’re also doing better than last year at this time with Dues.  Rental income is impressive – net is $24,930, better than last year.  Based on what is due for school fees and dues ($4,307 and $104,162, respectively), and even taking into account what typically doesn’t get paid, it looks like we will reach budget for both accounts.
  • We are looking forward to a wonderful and well attended spring gala, A Storied Affair, to further some other projects and programs.
  • Expenses: We would love if more families sponsored Onegs – this can be done in honor of someone’s birthday, an anniversary a yahrzeit, etc. – as we are over budget.  You can either bring in food for the Oneg or make a donation and the office can do the shopping and setup.  Garden weeding is also over budget.  Frankly, this was a budget error.  Based on past year’s expenses it should have been budgeted higher.  Telephone expenses are also way over budget.  We upgraded the old system which will save us money in the future, but we encountered some unexpected code issues with the elevator and alarm system while upgrading.  Salaries and Benefits are looking good (61% of all expenses).  Nothing else is really noteworthy at this time.
  • We estimate a year-end net 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 $231,470, $4,941 less 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.)  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.  On February 5th, we paid down the mortgage by another $30,000 – leaving the mortgage at $355,000.  The monthly interest payments are now $500 less than in December!

Monthly Financial Package

Balance Sheet February 2018>>

P&L February 2018>>

Notes February 2018>>

Consolidated P&L February 2018>>

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Bet Ha’am plays an important role in all of our lives, providing an open door for all during High Holidays and throughout the year.

The need for supporting the Annual Fund cannot be overstated. These unrestricted funds ensure we can cover our basic, day-to-day needs and meet our budgetary responsibilities, from salaries to building maintenance to Hebrew School supplies.

Membership dues do not cover the full cost of Bet Ha’am’s operations. We rely on the generous support of our members and friends to make Bet Ha’am available to all, regardless of ability to pay.

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Judaica Shop

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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Service Times

Evening Shabbat Services:

Friday evening at 7:30 PM except for the second Friday of the month, when a family service is held at 6:30 PM.

Shabbat Morning:

Saturday morning at 10:00 AM.

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