Our finances are still in a reasonably good position for the year, still a bit behind budget but not drastically so, reports church Treasurer Kyle Gracey. All numbers are as of the end of September.
Budget, Income and Spending
Our income was $392,335, 98% of where we expected to be at this point in the year. Expenses were $414,885, 102% of what we budgeted for at this point in the year. This overage is largely due to higher electricity costs, because we were not able to install the solar array when originally planned. Overall, this means we had a net loss of $22,550, about $18,000 more loss than we expected at this point.
Assets and Liabilities
Asset balances added up to $173,776. This does not include the money in our endowments and other investments. This is $173,954 lower than at the beginning of the year, mainly due to the roof repair and paying for the solar array. Total liabilities were $156,751, down $151,404 for similar reasons. Overall, we had $17,025 in net assets, which included $22,550 in current year losses and $39,575 in net income from previous years.
Pledge season has begun! Pledges and pledge payments are crucial to helping this church fulfill its mission. Pledges help us to accurately plan our budget for the year. Donations to fulfill pledges provide 80% of our staff, programs and services. If you’re happy with the default pledge you received for 2024, you don’t need to do anything. If you want to increase your pledge (thank you!), please go to https://www.first-unitarian-pgh.org/pledge or speak to a member of the Stewardship Committee. These methods also work if you need to decrease your pledge.
2024 Draft Budget Presentation
On Sunday December 3 at 12:30 on Zoom, I’ll present the draft 2024 budget to the Congregation. A link will be provided a few days before the meeting