Our finances are in an OK position going into the last quarter of the year. Although we continue to suffer losses due to the pandemic, we are still generally operating as budgeted for the year. All information below is as of September 30.
Assets and Liabilities
Asset balances add up to $227,414, a notable decrease from the last quarter. This does not include the money in our endowments and trusts. Total liabilities are $220,480, also a decrease from last quarter. Overall, we have $6,934 in net assets, a reduction from last quarter, but still a positive balance.
Our income is less than budgeted at the moment, at $348,408. Although we have partially reopened, income from rentals, Giant Eagle card sales, and similar income is still below budget due to the impact of the delta variant. Fortunately, expenses are also under what was budgeted so far, at $394,832. This leaves us with a net loss for the moment of $46,424, roughly on track for the net loss that we budgeted for the year.
Planning for next year’s budget is well underway. We anticipate seeing some positive financial developments from greater reopening of the church next year, though we anticipate planning for a conservative budget in case the pandemic drags on even longer than expected. The annual open meeting to discuss the draft budget will be scheduled for early December as usual; exact date to be announced.
The best way you can help us plan for next year is by making your 2022 pledge now. Timely pledges help us better understand how much we can invest in music, worship, social justice, religious education and so much more. The easiest way to make your pledge is to visit www.first-unitarian-pgh.org/pledge.