Treasurer's Ledger

Financial Updates

The purpose of the treasurer’s report is to provide transparency about our current financial position. Reports inclulde considerable detail; in them, you will find most of the information that the finance committee and the board use to make informed finance-related decisions.

Note, we often refer to “fiscal year” or FY, which is different from a standard calendar year.  Bet Ha’am starts the fiscal year on July 1 each year and ends the year on June 30 of the following year. The most recent fiscal year began on July 1, 2020 and will end June 30, 2021. 

In the tabs below are these sets of documents:

    • Annual Meeting 2020: This box presents a description of our finances along with supporting charts.
    • Monthly Summaries for FY20: In each box, you will find a standard monthly financial package, which are the documents reviewed by the finance committee and board. There is a short, written summary about the health of our financial operations following the links to the financial reports. We do not prepare a monthly report for the first two months of the fiscal year (July and August) as there is minimal meaningful detail during the summer.
    • Final documents for the year that ended June 2019. This is the last expanding box below.
    • In all documents for FY2o, “MHNL” refers to machazit hashekel (“count me for membership”) and nediv lev (generous offerings of the heart), our dues structure.

We are also pleased to share our Financial Health Report for 2019-2020. This document will help you understand how retiring our mortgage did not change our operating budget; why we all need to contribute to onegs; and why we are creating a legacy committee.

We have details of our LED Initiative. Read why (and how) we are converting to LED bulbs.

We do not prepare a monthly report for the first two months of the fiscal year (July and August) as there is minimal meaningful detail during the summer. Please read the July treasurer’s report, written by L. Mark Stone, here.

This year, due to COVID-19, I will be presenting the majority of my Treasurer’s report in written form. In addition to this overview, there are fifteen supporting documents. Before reviewing them, I am going to summarize the most important financial points.

For the current fiscal year (FY20), ending on June 30, 2020, we will have a nice surplus of around $28,000. The budget called for a $44,590 deficit. The primary reason for this positive change is due to the one-time government Payroll Protection Program (PPP), which added almost $60,000 to the operating account. Another bright spot was the fundraising event, A Different Story, which added around $25,000. Offsetting these items was a reduction in the machazit hashekel and nediv lev (MHNL) contributions.

For the next fiscal year (FY21), starting on July 1, 2020, we are currently anticipating a deficit of $93,709, which would be by far the worst year Bet Ha’am will have ever had. Due to the uncertainties related to the pandemic, we have decided to delay creating a new budget for next year until the fall. This will give us time to assess the damage from the pandemic and to see what effects the pandemic will have over the summer. We do have a projection based on continuing this year’s budget with a few assumptions. There will be no salary increases (except for what is required in an existing contract); MHNL contributions will decrease by 4.9% from this year’s expected contributions; rental income will drop to $5,000 from $20,000; and various other income items (such as school fees and general and annual donations) will be slightly less.

Obviously, Bet Ha’am would not be able to continue to operate very long in this environment. In fact, with no other changes, we will run out of cash by the Spring 2022. And we have virtually no endowment to help us though this challenging time. The $93,709 deficit assumes we do nothing differently. We will need to make changes. The board will have to develop aggressive fundraising strategies. There will have to be changes to the way we operate. Even before the pandemic, we knew that the deficits were going to grow and sustainability was going to be a problem. One of the biggest issues is that average contributions per household have risen slowly over the past decade (and have dropped over the past five years) and total households have decreased, while expenses have risen on average 1% a year since 2007. In absolute numbers, total dues (or MHNL) have gone from around $390,000 in 2007 to an expected $350,000 this year. Total expenses have gone from $530,685 in 2007 to an expected $582,420 this year. The only reason we haven’t had a poor financial year during this time is due to our ability to make some changes, and, to a larger extent, unique one-time events, such as when Rabbi Goldfinger’s expenses were paid by the state and special contributions after her injury, or dues relief from the Union for Reform Judaism (URJ), or the Payroll Protection Program. If major changes can’t be made, expenses will have to be reduced. The greatest expense (at 67% of the budget) is payroll, so that would be the likely target.

Prior to the pandemic, I wrote a report identifying the history of how we got here, with a few suggestions going forward. The board has a major challenge to devise a plan to solve the financial shortfall. If you would like to be a part of a major development and fundraising endeavor, please  email Lynn Urbach, president of the board of trustees. While the board has not had time to review and comment on my report, I am happy to send you this raw report. There are two versions, the full one and a shorter one that is easier to read, with much of the history removed. If you have an interest, email me and mention which version you want.

* * * * *

Now I will describe the fifteen supporting documents given below. Please be kind and accept that there might be some inconsistencies between the reports due to differences in creation or reference dates. There will be some time for questions at the beginning of the meeting, but as always, I am happy to answer any questions by email.

FY19 Profit & Loss and FY19 P&L Notes. The first report is the final profit and loss (really a surplus/deficit report for a non-profit) for last fiscal year (ended on June 30, 2019). The second report is the notes page for the P&L. Bottom line, we had a deficit of $5,078 versus a budgeted deficit of $32,327. Highlights include: unrestricted fundraising did well and building expenses and payroll were under budget. For a more detailed review of last fiscal year, please see the box titled ‘Fiscal Year Ended 2019’ on this page. All the reports for last year also have an extensive narrative on how to read Bet Ha’am’s financial reports.

The standard monthly package is included here:

  • FY20 Narrative – This is a written summary of the reports in the monthly package. Also has an extensive bit about the effects of COVID-19 and A Different Story.
  • FY20 Balance Sheet – This is basically the assets (balances of all of the bank and investment accounts at the end of May) and liabilities (what is owed). See last year’s balance sheet for more extensive narrative.
  • FY20 Profit & Loss– Of most interest here is the projected column for what the expected year-end numbers will be.
  • FY20 P&L Notes – These are notes for the P&L spreadsheet.
  • FY20 Cash Position – This includes a consolidated P&L plus the month-end cash position going back to July 2017.

There are also five charts – a explanation for each chart is included on the chart page. They are charted by year, starting with fiscal year 2007.

  • Surplus Deficit Chart – This shows the actual surplus/deficit for each year against the budgeted amount.
  • Dues Chart – A chart showing the number of households contributing each year and average household amount.
  • Total Dues Chart – This shows the total dues for each fiscal year.
  • Fundraising Chart – This shows fundraising/grants and earned income.
  • Payroll Chart – This shows salaries and total payroll.

And last, we have two pie charts.

FY21 Projection – On a P&L, this shows the projected amounts for next year against this year’s expected and budget.

* * * * *

As many of you know, I have once again ‘termed out.’ The annual meeting brings to an end my second six years as treasurer. I have enjoyed the experience, I hope you have been able to understand and appreciate my reports.

My thanks to the finance committee, Rachel Lefkowitz, and Teri Berenson for all their support. I also appreciate Mark Stone’s willingness to assume command of the finances.

Submitted by Tom Rosen

Balance Sheet
P&L
P&L Notes
P&L Abbreviated

COVID-19 and Budget Update: At this time, it is impossible to know what effect this pandemic will have on Bet Ha’am next year. How long it will last, what will happen to employment and to the stock market and businesses is anyone’s guess. But without a doubt our financial situation is alarming. The finance committee is worried about our income next year and how it might negatively affect our staffing levels, just to name our largest expense area; it is too early to make informed decisions. Therefore, we will delay crafting a new budget until September and continue with the current one, though we will remain diligent. Bet Ha’am received $65,000 through the Payroll Protection Program (PPP) to help mitigate the impact of the virus. The effects include fewer contributions, the loss of rental income, and the cost of keeping everyone employed (even though the building is closed, our staff is working from home even if for fewer hours).  

We hope everyone is well and doing ok in this challenging time. If you need some assistance with shopping, or would like to talk to someone from the congregation regularly, please reach out to the office as we have volunteers who might be able to help you.

With the help of PPP and a successful fundraising event, A Different Story, we will have a nice surplus for this fiscal year. But early projections for next year, assuming no changes to employment or fundraising efforts, is for a deficit around $90,000! Of course if this becomes a reality, the board will need to make difficult decisions beyond the need to increase fundraising. Even prior to the pandemic Bet Ha’am had a perennial budget problem for several reasons:

  • Dues (now called machazit hashekel and nediv lev (MHNL) per family have increased by less than 5%, in total, over the last decade.
  • Total dues received have decreased by about 10%.
  • Expenses have increased by about 30% (less than 3%/year).

Each year we had special circumstances which helped to manage this funding imbalance, but it is now unsustainable. At this rate, it is anticipated that the cash surplus will disappear by spring 2022, less than two years from now. (We would have to start borrowing money at this point.)

* * * * *

A Different Story: Our major fundraising event was a great success this year! Special thanks to Toby Rosenberg and Rachel Lefkowitz for their hard work, time, and expertise in getting a revised event flawlessly presented; to the storied committee and Bet Ha’am staff who supported Toby and Rachel; to the three captivating readers, Lisa Mayer, Stuart Kestenbaum ,and Steve Steinbock; to the thirty-four host committee members, raffle participants, and event supporters; to the raffle winner, Amy Brusselback, who donated the prize back to Bet Ha’am. And to everyone who joined us for a fun and enlightening Saturday evening.

_______________________________

At the end of June we have completed fiscal year 2020 (FY20).

There will be a few minor adjustments to the Profit and Loss statement over the next few months, but what is presented now will not change much. Sometime in late September, the information from this fiscal year will be archived and become the last year’s section of the web site. There are no financial reports for the first two months of the fiscal year (July and August).

Income: The total unrestricted donations income (line 19) is better than last year, primarily due to A Different Story exceeding budget; the general and annual funds were also better than budget. MHNL (lines 38 & 39) are slightly behind budget and last year. We have seen quite a reduction of contributions since the pandemic hit. Rental income is slightly above budget (43). A new item, COVID-19 paycheck protection program (line 57), is the amount we received from the Small Business Administration to cover payroll for eight weeks. This loan allows Bet Ha’am to continue to maintain all employees at their current salary level while the building is closed. Otherwise, nothing else significant to report at this early time.

Expenses: Oneg expense (80), a perennial problem, improved this year as Steve and Lynda Hubbell successfully recruited sponsors. When we resume services inside the building, please consider honoring someone’s birthday, an anniversary, a yahrzeit, etc., by either bringing in food for the oneg or making a donation. Garden and outdoor maintenance is a bit over (91), due to plant replacement, but is offset with garden donations (seen in transfers, line 27). Inspections (98) is over because of the need for an occupancy review to satisfy the fire marshal. (We did get a grant to cover some of this expense). Medical expense (143) is much more than last year. There is an offsetting income line—health insurance co-pay (52). The biggest expense category—salaries and benefits (153), which makes up 68% of the expenses—is a bit higher than last year but appears to be close to this year’s budget (when factoring in the health insurance co-pay mentioned earlier). Nothing else is really noteworthy at this time.

Bottom line: a $56,338 surplus for the fiscal year (line 181). The budget called for a $44,590 deficit. Last year was a $4,719 deficit. Over the past ten years we have had three years with a deficit, and a cumulative surplus of $212,593.

Balance Sheet: All checking/savings amounts are accurate. Of most interest, the top portion presents the bank, individual fund, and investment account balances. There is only about $30,000 of outstanding pledges (almost all of it seems current) and there is about $138,000 in the capital account (lines 55 and 59).

The operating cash position of $223,734 is $40,151 better than last year at this time. A large portion of this positive comparison is the paycheck protection program money. (Operating cash is funds for our day-to-day operating expenses. It doesn’t include capital campaign or restricted funds.)

Balance Sheet
P&L
P&L Notes
P&L Abbreviated

COVID-19 and Budget Update: At this time, it is impossible to know what effect this pandemic will have on Bet Ha’am next year. How long it will last, what will happen to employment, to the stock market and businesses is anyone’s guess. But without a doubt our financial situation is alarming. While I am worried about our income next year and how that might negatively affect our staffing levels, just to name our largest expense area, it is too early to make informed decisions. Therefore, we will delay crafting a new budget until September and continue with the current one, but will remain diligent. We received $65,000 through the Payroll Protection Program (PPP) to help mitigate the impact of the virus. The effects include fewer contributions, the loss of rental income, and the cost of keeping everyone employed (even though the building is closed and some are working from home and for fewer hours). 

I hope everyone is well and doing ok in this challenging time. If you need some assistance with shopping, or would like to talk to someone from the congregation regularly, please reach out to the office as we have volunteers who might be able to help you.

I now anticipate we will have a surplus for this fiscal year, but early projections for next year, assuming no changes to employment or fundraising efforts, is for a deficit around $90,000! Of course, if this becomes a reality, the board will need to make difficult decisions beyond the need to increase fundraising. Even prior to the pandemic, Bet Ha’am had a perennial budget problem for several reasons:

  • Dues (now called machazit hashekel and nediv lev (MHNL) per family have increased by less than 5%, in total, over the last decade.
  • Total dues received has decreased by about 10%.
  • Expenses have increased by about 30% (less than 3%/year).

Each year we have had special circumstances which have helped to manage this funding imbalance, but it is now unsustainable. At this rate, I anticipate spending down the surplus by Spring 2022, less than two years from now. (We would have to start borrowing money at this point.)

I have written a report identifying the history of how we got here with a few suggestions going forward. The board has a major challenge in devising a plan to solve the financial shortfall. If you would like to be a part of a major development and fundraising endeavor, please email Lynn Urbach, president of the Board of Trustees.

* * * * * 

A Different Story: Our major fundraising event, was a great success this year! Special thanks to Toby Rosenberg and Rachel Lefkowitz for their hard work, time, and expertise in getting a revised event flawlessly presented. Thanks to the storied committee and Bet Ha’am staff who supported Toby and Rachel; to the three captivating readers, Lisa Mayer, Stuart Kestenbaum and Steve Steinbock; to the thirty-four host committee members; to raffle participants and event supporters. Special thanks to the raffle winner, Amy Brusselback, who donated the prize back to Bet Ha’am. And to everyone who joined us for a fun and enlightening Saturday evening.

We have completed eleven months of the fiscal year as of the end of May, 2020.

A projected column (column “N”) has been added to the P&L. This is what the final amounts at the end of the fiscal year are expected to be.

Income: The projected total unrestricted donations income (line 19) is better than last year, primarily due to A Different Story reaching budget and the general and annual funds doing better than budget. MHNL (lines 38 & 39) are about even to last year. Looking ahead however, it appears that we will NOT make budget (maybe $13,000 under) as there are a few families who have been members for years but who have not made a commitment yet this year. We also saw quite a reduction of contributions once the pandemic hit. Rental income is slightly above budget (43), but there will not be any more rentals due to the coronavirus. Grants (56) are a bit behind as we have not received some private grants. A new item, COVID-19 paycheck protection program (57), is the amount we received from the Small Business Association to cover payroll for eight weeks. The $58,000 amount in the projected column is the final amount we expect to be forgiven. This allows Bet Ha’am to continue to maintain all employees at their current salary level while the building is closed. Otherwise, nothing else significant to report at this time.

Expenses: Oneg expense (80), a perennial problem, has improved this year as Steve and Lynda Hubbell have been successfully recruiting sponsors. When we resume services inside the building, please consider honoring someone’s birthday, an anniversary, a yahrzeit, etc., by either bringing in food for the oneg or making a donation. Garden and outdoor maintenance is a bit over (91), due to plant replacement, but is offset with garden donations (seen in transfers, line 27). Inspections (98) is over because of the need for an occupancy review to satisfy the fire marshal. (We did get a grant to cover some of this expense). Medical expense (143) is much more than last year. There is an offsetting income line—health insurance co-pay (52). The biggest expense category—salaries and benefits (153), which makes up 68% of the expenses—is a bit higher than last year but appears to be close to this year’s budget. Nothing else is really noteworthy at this time.

Balance Sheet: All checking/savings amounts are accurate. Of most interest, the top portion presents the bank, individual fund, and investment account balances. There is still almost $50,000 of outstanding pledges (almost all of it seems current) and there is about $119,000 in the capital account.

The operating cash position of $243,751 is $47,001 better than last year at this time. A large portion of this positive comparison is the paycheck protection program money. We are now projecting a surplus for the year, but a very large deficit for next year. (Operating cash is funds for our day-to-day operating expenses. It doesn’t include capital campaign or restricted funds.) In general, 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 as the year progresses.

Balance Sheet
P&L
Notes for P&L
P&L Abbreviated

COVID-19 and Budget Update: At this time, it is impossible to know what effect the pandemic will have on Bet Ha’am next year. How long it will last, and what will happen to employment and the stock market and businesses is anyone’s guess. But without a doubt our financial situation is alarming. While I am worried about our income next year and how that might negatively affect our staffing, just to name our largest expense area, it is too early to make informed decisions. Therefore, we will delay crafting a new budget until September and continue with the current one; but we will remain diligent. We received $65,000 through the Payroll Protection Program (PPP) to help mitigate the impact of the virus. The effects include fewer contributions, a smaller virtual Storied Affair—our largest fundraiser—the loss of rental income, and the cost of keeping everyone employed (even though the building is closed and some are working from home and for fewer hours).

I hope everyone is well and doing ok in this challenging time. If you need some assistance with shopping, or would like to talk to someone from the congregation regularly, please reach out to the office as we have volunteers who might be able to help you.

I now anticipate we will have a slight surplus for this fiscal year, but early projections for next year, assuming no changes to employment or fundraising efforts, are for a deficit around $90,000! Of course if this becomes a reality, the board will need to make difficult decisions beyond the need to increase fundraising. Even prior to the pandemic Bet Ha’am had a perennial budget problem for several reasons:

  • Dues (now called machazit hashekel and nediv lev (MHNL) per family have increased by less than 5%, in total, over the last decade.
  • Total dues received has decreased by about 10%.
  • Expenses have increased by about 30% (less than 3%/year).

Each year we have had special circumstances which have helped to manage this funding imbalance, but it is now unsustainable. At this rate, I anticipate spending down the surplus by Spring 2022, less than two years from now. (We would have to start borrowing money at this point.)

I have written a report identifying the history of how we got here with a few suggestions going forward. The board has a major challenge in devising a plan to solve the financial shortfall. If you would like to be a part of a major development and fundraising endeavor, please email Lynn Urbach, president of the Board of Trustees.

* * * * *

April 2020

We have completed ten months of the fiscal year.

A projected column (column “N”) has been added to the P&L. This is what the final amounts at the end of the fiscal year are expected to be.

Income: The total unrestricted donations income (line 19) is a bit behind last year, primarily due to delaying and modifying A Storied Affair because of the coronavirus. MHNL (lines 38 & 39) are about even to last year. Looking ahead however, it appears that we will NOT make budget (maybe $17,500 under) as there are a few families who have been members for years but who have not made a commitment yet this year. Rental income is slightly above budget (43), but there will not be any more rentals due to the coronavirus. Grants (56) are a bit behind, as we have not received some private grants. A new item, COVID-19 paycheck protection program (57), is the amount we received from the Small Business Association to cover payroll for eight weeks. The $58,000 amount in the projected column is the final amount we expect to be forgiven. This allows Bet Ha’am to continue to maintain all employees at their current salary level while the building is closed. Otherwise, nothing else significant to report at this early time.

Expenses: Oneg expense (80), a perennial problem, has improved this year as Steve and Lynda Hubbell have been successfully recruiting sponsors. When we resume services inside the building, please consider honoring someone’s birthday, an anniversary, a yahrzeit, etc., by either bringing in food for the oneg or making a donation. Garden and outdoor maintenance is a bit over (91), due to plant replacement. Inspections (98) is over because of the need for an occupancy review to satisfy the fire marshal. (We did get a grant to cover some of this expense). Medical expense (143) is much more than last year. There is an offsetting income line—health insurance co-pay (52). Pension (151) is lower because we are paying monthly instead of prepaying for the year as we had in the past. The biggest expense category—salaries and benefits (153), which makes up 68% of the expenses—is a bit higher than last year but appears to be close to this year’s budget. Nothing else is really noteworthy at this time.

Balance Sheet: All checking/savings amounts are accurate. Of most interest, the top portion presents the bank, individual fund, and investment account balances. There is still $50,000 of outstanding pledges (almost all of it seems current) and there is about $118,000 in the capital account.

The operating cash position of $244,729 is $34,882 better than last year at this time. A large portion of this positive comparison is the paycheck protection program money. We are now projecting a slight surplus for the year, but a very large deficit for next year.

(Operating cash is funds for our day-to-day operating expenses. It doesn’t include capital campaign or restricted funds.) In general, 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 as the year progresses.

Balance Sheet
P&L
Notes for P&L
Abbreviated P&L

March 2020.

We have completed nine months of the fiscal year.

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, machazeit hashekel and nediv lev (MHNL, our “dues” model) 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.

NOTE: We have added a column titled ‘PROJECTED’ (column “N”). This is what we are anticipating the final amounts will be for each P&L line item.

Income: The total unrestricted donations income (line 19) is a bit behind last year, primarily due to delaying and modifying A Storied Affair, the coronavirus, and to a large drop in contributions to the general fund. MHNL (lines 38 & 39) are about even to last year. Looking ahead however, it appears that we will NOT make budget (maybe $17,500 under) as there are a few families who have been members for years but have not made a commitment yet this year. Rental income (43) is slightly above budget, but there will not be any more rentals due to the coronavirus. Reimbursed purchases (51), which was abnormally high last year, was offset by professional development (158) last year. Grants (56) are a bit behind; we have not yet received the JCA contribution for the religious school nor some private grants. A new item, COVID-19 Paycheck Protection Program (PPP) (line 57), is the amount we expect to receive from the Small Business Association to cover payroll for eight weeks (hopefully around $55,000). This allows Bet Ha’am to continue to maintain all employees at their current salary level while the building is closed. Otherwise, nothing else significant to report at this early time.

Expenses: Oneg expense (line 80), a perennial problem, has improved this year as Steve and Lynda Hubbell have been successfully recruiting sponsors–please help them. This can be done in honor of someone’s birthday, an anniversary, a yahrzeit, etc. Garden and outdoor maintenance (91) is a bit over due to plant replacement. Inspections (98) is over because of the need for an occupancy review to satisfy the fire marshal (we did get a grant to cover some of this expense). Medical expense (143) is much more than last year. There is also an offsetting income line–health insurance co-pay (line 52). Pension (151) is lower because we are paying monthly instead of prepaying for the year as we had in the past. The biggest expense category–salaries and benefits (line 153), which makes up 68% of the expenses, is a bit higher than last year but appears to be close to this years’ budget. Nothing else is really noteworthy at this time.

The year-end net budget number is a deficit of $44,590. With the PPP covering eight weeks of payroll, I am anticipating that we will end up being close to even (no deficit) for the year. The net ordinary income number (line 181) is worse than last, mostly due to the delay in grant income and higher payroll expenses. The numbers in column “M” denote additional clarification on the Notes page.

COVID-19: At this time it is impossible to know what affect this pandemic will have on Bet Ha’am next year. How long it will last, what will happen to employment, to the stock market and businesses is anyone’s guess. While I am worried about our income next year and how that might negatively affect our staffing levels, just to name our largest expense area, it is too early to make informed decisions. Therefore, we will delay crafting a new budget until September and continue with the current one, but be diligent. It is fortunate that through the PPP we will be able to continue to pay our staff until the fall, even while they are working at home for some portion of the time, and some are working fewer hours. I hope everyone is well and doing OK in this challenging time. If you need some assistance, please reach out to the office as we have volunteers who might be able to help you secure necessary supplies.

Balance Sheet: All checking/savings amounts are accurate. Of most interest, the top portion (lines 8 to 69) present the bank, individual fund, and investment account balances. The mortgage balance (ZERO) is on line 109 and outstanding pledge balance is on line 73. There is still $50,000 of outstanding pledges (almost all of it seems current) and there is about $115,000 in the capital account.

The operating cash position of $180,468 is $36,780 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.) In general, 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 as the year progresses.

Balance Sheet
P&L
Notes for P&L
Abbreviated P&L

We have completed seven months of the fiscal year.

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, machazit hashekel (“count me for membership”) and nediv lev (generous offerings of the heart) (MHNL), 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: The total unrestricted donations income (line 19) is slightly ahead of last year, primarily due to an early donation to A Storied Affair, our annual gala. The annual fund (line 16) is doing quite well and general donations (line 13) is quite bit behind. MHNL (lines 38 & 39) are ahead of last year, primarily because we sent out the donation letter earlier and because we have about twenty new families this year. Looking ahead however, it appears that we will NOT make budget (maybe $15,000 under) as there are a few families who have been members for years but have not made a commitment yet this year. Rental income (line 43) is also doing well (compared to budget). Reimbursed purchases (line 51), which was abnormally high last year, was offset by professional development (line 157) last year. Otherwise, nothing else significant to report at this early time.

Expenses: Oneg (joyful reception after services) expense (line 79), a perennial problem, has improved this year as Steve and Lynda Hubbell have been successfully recruiting sponsors—please help them. This can be done in honor of someone’s birthday, an anniversary, a yahrzeit, etc. You can either bring in food for the oneg or make a donation and the office will do the shopping and setup. Garden and outdoor maintenance (line 90) is a bit over due to plant replacement. Inspections (line 97) is over because of the need for an occupancy review to satisfy the fire marshal (we did get a grant to cover some of this expense). Medical expense (line 142) is much more than last year, but within this year’s budget. There is also an offsetting income line—health insurance co-pay (line 52). Pension (line 150) is much lower because we are paying monthly instead of prepaying for the year as we had in the past. The biggest expense category—salaries and benefits (line 152), which makes up 68% of the expenses, is a bit higher than last year but appears to be close to this year’s budget. Nothing else is really noteworthy at this time.

The year-end net budget number is a deficit of $44,590. It is way too early to make any guess as to how we compare to the budget. The net ordinary income number (line 180) is slightly better than last year, mostly due to the earlier mentioned MHNL income, to paying the pension monthly, and to the early gift to A Storied Affair. The numbers in column “M” denote additional clarification on the Notes page.

Balance Sheet: All checking/savings amounts are accurate. Of most interest, the top portion (lines 8 to 69) present the bank, individual fund, and investment account balances. The mortgage balance (ZERO) is on line 109 and outstanding pledge balance is on line 73. There is still $56,000 of outstanding pledges (almost all of it seems current) and there is about $100,000 in the capital account (although $16,000 of this will be used for the Wi-Fi improvements and about $20,000 is earmarked for the school).

The operating cash position of $233,426 is $4,728 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.) In general, 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 as the year progresses.

Balance Sheet
P&L
Notes for P&L
Abbreviated P&L

We have completed six months of the fiscal year.

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, machazit hashekel (“count me for membership”) and nediv lev (gifts of the heart), 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: The total unrestricted donations income (line 19) is slightly ahead of last year, primarily due to an early donation to A Storied Affair. Also, the annual fund (16) is doing quite well and general donations (13) is bit behind.  machazit hashekel and nediv lev (lines 38 & 39) are ahead of last year, primarily because we sent out the donation letter earlier and because we have about twenty new families this year. Rental income (43) is also doing well. Reimbursed purchases (51), which was abnormally high last year, was offset by professional development (157) last year. Otherwise, nothing else significant to report at this early time.   

Expenses: Oneg expense (line 79), a perennial problem, has improved this year as Steve and Lynda Hubbell have been successfully recruiting sponsors. Please help them by donating in honor of someone’s birthday, an anniversary, a yahrzeit, etc. Garden and outdoor maintenance (90) is a bit over due to plant replacement. Inspections (97) is over because of the need for an occupancy review to satisfy the fire marshal. Medical expense (142) is much more than last year, but within this year’s budget. Pension (150) is much lower because we are paying monthly instead of prepaying for the year as we had in the past. For the same reason, total salaries and benefits (152) is similar to last year and right on budget. Nothing else is really noteworthy at this time.

The year-end net budget number is a deficit of $44,590. It is way too early to make any guess as to how we compare to the budget. The net ordinary income number (line 180) is much better than last year, mostly due to the earlier mentioned machazit hashekel and nediv lev income and to paying the pension monthly. The numbers in column “M” denote additional clarification on the Notes page.

Balance Sheet: All checking/savings amounts are accurate. Of most interest, the top portion (lines 8 to 69) present the bank, individual fund, and investment account balances. The mortgage balance (ZERO) is on line 109 and outstanding pledge balance is on line 73.

The operating cash position of $233,369 is $34,487 more 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.) Again, I attribute this positive event to the earlier mentioned machazit hashekel and nediv lev income and paying the pension monthly. In general, 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 as the year progresses.

Capital Account: We retired the mortgage last spring. There is only about $58,000 in pledges due from capital campaigns, and there is about $170,000 cash in the capital account. About $90,000 of the cash in the capital account is earmarked for specific purposes (owed to operations, owed to the school program, and set aside for the upgrade of the Wi-Fi). We also have been using the capital money for some programming, such as tikkun olam and school retreats, and for major maintenance items (boiler replacement, security items). What is remaining in pledges is not nearly enough for near-term needs. The following is worth repeating from an earlier report of mine. It is my greatest concern.

As the building, now eleven years old, ages, there will be a much greater need for repairs. Pointing the brick on the old school building, to the tune of around $50,000, has been one item we have postponed for a few years. There will be the need to replace the air handlers in a few years for around $20,000. In the next ten years, the divider wall, exterior cladding, concrete floor, elevator, school windows, and electrical systems will need to be repaired or replaced. Estimates are around $150,000. In the next twenty years, the skylight glazing, roof systems, and boilers will need work or replacement. Estimates are around $200,000. And that is just what we know. Healthy organizations our size should have an endowment of at least three million dollars. An endowment this size would spin off about $120,000 a year – to help fund a maintenance replenishment fund and to help reduce our reliance on increased annual contributions to balance the budget. An endowment also makes it easier to survive a few lean years. Bet Ha’am has $41,000 in an endowment fund.

Balance Sheet
P&L
Notes for P&L
Abbreviated P&L

We have completed five months of the fiscal year.

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, machazit hashekel (“count me for membership”) and nediv lev (gifts of the heart), 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: Total unrestricted donations income (line 19) is slightly behind of last year, with the annual fund (16) doing quite well and general donations (13) a bit behind. Machazit hashekel and nediv lev (38 & 39) are ahead of last year, primarily because we sent out the donation letter earlier and because we have about twenty new families this year. Rental income (43) is also doing well. Reimbursed purchases (51), which was abnormally high last year, was offset by professional development (157) last year. Otherwise, nothing else significant to report at this early time.

Expenses: Oneg (joyous reception) expense (line 79), a perennial problem, has improved this year as Steve and Lynda Hubbell have been successfully recruiting sponsors. Please help them by donating an oneg in honor of someone’s birthday, an anniversary, a yahrzeit, etc. You can either bring in food for the oneg or make a donation through the office. Garden and outdoor maintenance (90) is a bit over due to plant replacement. Inspections (97) is over because of the need for an occupancy review to satisfy the fire marshal. Medical expense (142) is much more than last year, but within this year’s budget. Pension (150) is much lower because we are paying monthly instead of prepaying for the year as we had in the past. For the same reason, total salaries and benefits (152) is lower than last year. Nothing else is really noteworthy at this time.

The year-end net budget number is a deficit of $44,590. It is way too early to make any guess as to how we compare to the budget. The net ordinary income number (line 180) is much better than last year, mostly due to the earlier mentioned machazit hashekel and nediv lev income and to paying the pension monthly. The numbers in column “M” denote additional clarification on the Notes page.

Balance Sheet: All checking/savings amounts are accurate. Of most interest, the top portion (lines 8 to 69) present the bank, individual fund, and investment account balances. The mortgage balance (ZERO) is on line 109 and outstanding pledge balance is on line 73.

The operating cash position of $227,414 is $10,672 more 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.) Again, I attribute this positive event to the earlier mentioned machazit hashekel and nediv lev income and to paying the pension monthly. In general, 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 as the year progresses.

Capital Account: We retired the mortgage last spring. There is about $183,000 in pledges due from capital campaigns, and there is about $94,000 cash in the capital account. All of the cash in the capital account is earmarked for specific purposes (owed to operations, owed to the school program, and earmarked for the upgrade of the Wi-Fi). We also have been using the capital money for some programming, such as tikkun olam (social justice) and school retreats, and for major maintenance items (boiler replacement, security items). What is remaining in pledges is not nearly enough for near-term needs. The following is worth repeating from an earlier report of mine. It is my greatest concern.

As the building, now eleven years old, ages, there will be a much greater need for repairs. Pointing the brick on the old school building, to the tune of around $50,000, has been one item we have postponed for a few years. There will be the need to replace the air handlers in a few years for around $20,000. In the next ten years, the divider wall, exterior cladding, concrete floor, elevator, school windows, and electrical systems will need to be repaired or replaced. Estimates are around $150,000. In the next twenty years, the skylight glazing, roof systems, and boilers will need work or replacement. Estimates are around $200,000. And that is just what we know. Healthy organizations our size should have an endowment of at least three million dollars. An endowment this size would spin off about $120,000 a year – to help fund a maintenance replenishment fund and to help reduce our reliance on increased annual contributions to balance the budget. An endowment also makes it easier to survive a few lean years. Bet Ha’am has $41,000 in an endowment fund.

We have completed four months of the fiscal year.

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, machazit hashekel (count me for membership) and nediv lev (gifts from the heart) 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: The Total Unrestricted Donations income (line 19) is slightly ahead of last year, with the Annual Fund (16) doing quite well, and General Donations (13) a bit behind. Machazit and nediv lev (lines 38 & 39) are ahead of last year, primarily because we sent out the donation letter earlier and because we have about 20 new families this year. Rental Income (43) is also doing well. Reimbursed Purchases (51), which was abnormally high last year, was offset by Professional Development (157) last year. Otherwise, nothing else significant to report at this early time.

Expenses: Oneg (Shabbat reception) expense (line 79), a perennial problem, has improved this year as Steve and Lynda Hubbell have been successfully recruiting sponsors—please help them. This can be done in honor of someone’s birthday, an anniversary, a yahrzeit (remembrance of a death), etc. You can either bring in food for the oneg or make a donation and the office can do the shopping and setup. Garden & Outdoor Maintenance (90) is a bit over due to plant replacement. Inspections (97) is over because of the need for an occupancy review to satisfy the fire marshal. Medical expense (142) is much more than last year, but within this year’s budget. Pension (150) is much lower because we are paying monthly instead of prepaying for the year as we had in the past. For the same reason, Total Salaries & Benefits (152) is lower than last year. Nothing else is really noteworthy at this time.

The year-end net budget number is a deficit of $44,590. It is way too early to make any guess as to how we compare to the budget. The Net Ordinary Income number (line 180) is much better than last year, mostly due to the earlier mentioned machazit and nediv lev income and paying the pension monthly. The numbers in column “M” denote additional clarification on the Notes page.

Balance Sheet: All checking/savings amounts are accurate. Of most interest, the top portion (lines 8 to 69) present the bank, individual fund, and investment account balances. The mortgage balance (ZERO) is on line 109 and outstanding pledge balance is on line 73.

The operating cash position of $253,262 is $36,149 more 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.) Again, I attribute this positive event to the earlier mentioned machazit and nediv lev income and to paying the pension monthly. This is the second highest month-end cash position since I have been keeping records (July 2006)! In general, 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 as the year progresses.

Capital Account: We retired the mortgage last spring. There is about $185,000 in pledges due from capital campaigns, and there is about $91,000 cash in the capital account. All of the cash in the capital account is earmarked for specific purposes (owed to operations, owed to the school program, and earmarked for the upgrade of the Wi-Fi). We also have been using the capital money for some programming, such as Tikkun Olam (social justice) and school retreats, and for major maintenance items (boiler replacement, security items). What is remaining in pledges is not nearly enough for near-term needs. The following is worth repeating from an earlier report of mine. It is my greatest concern.

As the building, now eleven years old, ages, there will be a much greater need for repairs. Pointing the brick on the old school building, to the tune of around $50,000, has been one item we have postponed for a few years. There will be the need to replace the air handlers in a few years for around $20,000. In the next ten years, the divider wall, exterior cladding, concrete floor, elevator, school glazing and windows, and electrical systems will need to be repaired or replaced. Estimates are around $150,000. In the next twenty years, the skylight glazing, roof, and boilers will need work or replacement. Estimates are around $200,000. And that is just what we know. Healthy organizations our size should have an endowment of at least three million dollars. An endowment this size would spin off about $120,000 a year—to help fund a maintenance replenishment fund and to help reduce our reliance on increased annual contributions to balance the budget. An endowment also makes it easier to survive a few lean years. Bet Ha’am has $41,000 in an endowment fund.

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