At the end of April revenue was slightly above budget and liabilities slightly below.  Compared to the period October to April of 2007 – 2008 actual revenue was down about 2%. However, we are not at all complacent about our financial situation.  We are entering that period of our year when revenue historically declines significantly.  If we look at known income, such as grants and regular contributions, we have projected a shortfall in our ability to meet our obligations at the end of September.  We maintain a monetary reserve and that will be exhausted at that point.  While cause for concern we are not throwing up our hands.  The Development Committee, chaired by Ms. Margaret Masters , is working hard to generate new sources of revenue.  In the past the financial generosity of our supporters has helped us meet our obligations.  If we keep in mind the stress and confusion our families are experiencing we cannot help but double our efforts in meeting our financial obligations.

Finally, we are very fortunate to have the enthusiastic support of the volunteers of our member congregations who generously donate their time and show their concerns for the betterment of our families.  If we were to calculate their time and give it a monetary value our budget would be two and a half times what it is now

Respectfully submitted,

Bert Bedford, Treasurer

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