Financial Updates

Please see results below through March based on our annual balanced budget of $492,660:

 

 

                        FY'23-24 Year-To-Date Results   

                        9/1/23 thru 3/31/24 (7 months)                         

YTD Actual                   YTD                Budget           $ Diff

YTD Income             $304,313            $313,577        -$9,264

YTD Expenses          $264,520           $285,512        -$20,992

YTD Net Gain           $39,793             $28,065         $11,728 

​

In March, income was down $9,240 vs budget and we spent $3,026 more than budgeted, so we were down compared to forecast by -$12,266. These March shortfalls were anticipated to a certain extent: 

1. We had an $8K annual insurance payment that fell in March rather than in February, 

2. We expect that UNITE donations cannibalized normal giving a bit, and

3. We recognized about $4.5K in projected income year-to-date as a deduction from expenses (so income is down, but expenses are down by the same amount, so no effect on the bottom line and our net gain).

Note our revised budget calls for us to spend down our current net gain to zero by the end of the fiscal year. Fortunately, our actual gain year-to-date is a healthy $39,793, giving us confidence over the next five months that we will finish with a balanced budget.  (Remember that our old annual budget was for $432k in income less $458k in expenses for a deficit of -$26k. The current revised annual budget is $492,660, with income and expense balanced at the end of the fiscal year.)

​

Remember that our original approved budget was for $432k in income less $458k in expenses for a deficit of $26k. 

So overall we're keeping the Creekside head above water. 

 

​

Stew Konzen

Finance Officer