We continue to show a solid bottom line on the Balance Sheet. I know that many members and groups look at what we have and wonder what we're doing with it. I've pointed out in the past about how we need to maintain a solid Prudent Reserve and that there are funds that have to be set aside for purchase of new literature. You'll also notice in looking at the figures that we plan to hire more special workers in the Distribution Center.
However, we aren't able to do so until we are sure we will have funds that continue to come in so we can afford these workers. We wouldn't want to be in a position of hiring someone and then having to let them go. We will also have to start considering expanding our facility soon, whether it is to move up by getting pallet racks, or moving to a larger space. Again, it's about planning ahead and making sure we have enough money to sustain whatever effort is undertaken - before anything is done.
Please rest assured that the Board takes our fiduciary responsibility very seriously and try to plan expenditures very carefully. I'm sure that the Fellowship joins us in being grateful that the picture looks far rosier than it did a year ago. I'm reminded of Promise #6 - "We will enjoy feeling stable, peaceful, and financially secure." Although that is meant for us on an individual level, I believe it also applies to the larger picture of the fellowship.
Moving on to more specifics, the P&L Statement shows that the combined net income was $5,034, which is lower than most months this past year. It was due directly to decreased sales for December - the lowest month since before the introduction of the Meditation Book in November of 2013. But it seems that people may have been waiting for the start of the new year because sales were larger than normal this first week of January.
The Finance Committee, formerly known as the Treasury Committee, met 3 times in December. Some of the result of the discussions Martin and I had were placed before the Board in the form of motions to give our Office Manager a monthly budget and to make it official that we present the previous year's tax-ready financials at each ABC, as well as a 1Q summary for the time immediately preceding the ABC.
We also discussed the financial aspects of bringing Robin R. on board as an employee, changes in budgets for committees and the way they will be administered, and we started preparing the new annual budget. If you are interested in being a volunteer on this Committee, please send an email to [email protected] with the Subject Line "Finance Commitee Volunteer".
We could use volunteer help from someone with business insurance background to help us do an insurance review. This is not for someone who wishes to sell us insurance, but rather to help us understand if the policies we have are adequate.
Respectfully submitted,
Mary Jo L.
Treasurer and Board Trustee
