intermountain yearly meeting of the religious society of...
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Intermountain Yearly Meeting of the Religious Society of Friends
Treasurer�s Report to Annual Gathering 2019
1-Narrative Treasurers report to AG 2019 5/28/2019 9:45 AM page 1 of 9
Contents page # Comparative Balance Sheets������������������.. 2 Cash & Reserve Funds Report������������������ 3 Notes to Cash and Reserve Funds Report�����������. 4 Income Statement, budget comparison and proposed budget 5-6 Notes to Income Statement and proposed budget������. 7 Annual Gathering 2018 Income Statement����������.. 8 Income Statement with comparison May 30, 2019�����... 9 STATEMENTS FYE September 30, 2018
Overall, for the year ending September 30, 2018, IMYM had a $20,212 surplus. For the year ending September 30, 2017 the surplus was $16,198. For the year ending September 30, 2016 the surplus was $17,265.
Annual Gathering 2018 (page 8) Including donations from individuals and meetings toward pay-as-led support, 2018 Annual Gathering experienced an operating loss of $1,297. Mountain Friends Camp (MFC) donations received from individuals during registration = $1,662. Account number 7775 Bad debts expense $9,184 represents annual gathering income booked but not received. This is a result of either not receiving income identified during Annual Gathering registration, or because of pay-as-led pricing. IMYM is committed to continuing with pay-as-led pricing for Annual Gathering for the time being. IMYM PROPOSED BUDGET FOR 2020 (pages 5 - 7) Due to concerns related to both pay-as-led and the transition to Fort Lewis College, the Finance Committee recommends leaving the assessment FYE September 30, 2020 at $64 per adult member. This proposed budget includes a token $1,000 contribution to Friends World Committee Section of the Americas, a matter of institutional survival. Meeting for Business at Annual Gathering 2018 approved using designated FWCC reserves for �travel to Israeli occupied territories.� These designated funds are FWCC World Conference � adults $50, FWCC other travel assistance for $500 and FWCC Quaker Youth Pilgrimage for $1,000. There is no specified procedure for how this will happen. Perhaps a better use of these designated funds is to donate them to the FWCC World Office youth leadership development program. Also, see notes on page 7.
Intermountain Yearly Meeting of the Religious Society of Friends
Comparative Balance Sheets
FYE9/30/2015
FYE9/30/2016
FYE9/30/2017
FYE9/30/2018
Assets Cash � checking 43,283 72,458 88,289 110,188 Cash � money market - - - - Savings 11,911 - - - Friends Meeting House Fund 1,000 1,000 - - Accounts receivable 2,274 - Total Assets 56,194 73,458 90,563 110,188
Liabilities 320 Current LiabilitiesAccounts Payable - - 907 320 Total Liabilities - - 907 320
Net Assets (Reserves)Unrestricted Net Assets
Operating (General) Fund 27,750 45,597 62,730 79,628 Designated Reserves
Faith & Practice Committee 2,113 1,013 1,086 1,197 FWCC Section of Americas - - 1,500 3,000 FWCC World Conference - adults* 2,000 50 50 50 FWCC Travel support for other Meetings* 1,000 500 500 500 FWCC Quaker Youth Pilgrimage* 1,000 1,000 1,000 1,000 Pendle Hill workshop for YM Clerk 80 15 - - Contingency Reserve 20,000 20,000 20,000 20,000 Transition to Fort Lewis Fund Balance 3,000
Total Designated Net Assets (Reserves) 26,193 22,578 24,136 28,747Total Unrestricted Net Assets 53,943 68,175 86,866 108,376
Temporarily Restricted Net Assets (Funds)Annual Gathering - 3,734 1,241 (56) Mountian Friends Camp - - - - Tim Shaw Fund / PYM SYF 905 204 204 204 Sufferings Fund 1,345 1,345 1,345 1,345
Total Temporarily Restricted Net Assets 2,250 5,283 2,790 1,493Total Net Assets 56,193 73,458 89,656 109,868Total Liabilities and Net Assets 56,193 73,458 90,563 110,188
* See notes in the CASH & RESERVE FUNDS report.
2-2018-09-30 FINAL Comparative Balance Sheet 5/29/201912:29 PM page 2 of 9
Intermountain Yearly Meeting of the Religious Society of FriendsCASH AND RESERVE FUNDS (Net Assets) REPORT
ACCOUNTSBeginning
10/1/17(a)
Receipts DisbursementsFYE
9/30/2018
CashChecking 88,289 181,358.82 159,459.46 110,188Money Market 0 0 0 0Savings 0 0 0 0Accounts receivable 2,274 0 2,274 0
TOTAL 90,562 181,359 161,733 110,188
RESERVES (Net Assets)Beginning
10/1/17Receipts Disbursements
FYE9/30/2018
Operating FundDesignated reserves
Faith & Practice Books 1,086 111 0 1,197
FWCC Section of the Americas Rep Mtg1 1,500 1,500 0 3,000
FWCC Quaker Youth Pilgrimage2 1,000 0 0 1,000
FWCC travel support for developing2 500 0 0 500
FWCC World Conference - Adults2 50 0 0 50FWCC World Conference - SYF 0 0 0 0Pendle Hill Workshop for YM Clerk 0 0 0 0Contingency Reserve 20,000 0 0 20,000Reserve for transition to Fort Lewis College3 3,000 3,000Total Designated Reserves 24,136 4,611 0 28,748
Operating fund 62,730 51,931 35,033 79,628
Accounts payable 907 0 907 0
Total Operating Fund 63,637 51,931 35,940 79,628
Total unrestricted funds 87,773 56,543 35,940 108,376
Restricted funds
Annual Gathering 1,241 131,391 132,688 (56)Accounts payable 0 319 0 319
Mountain Friends Camp4 0 0 0 0
Tim Shaw Fund (SYF) 5 204 0 0 204Sufferings 1,345 0 0 1,345
Total Restricted Funds 2,790 131,710 132,688 1,812Total All Funds 90,562 110,188
September 30, 2018
3-2019-05-25 Cash and reserve funds report 09.30.2018 5/29/2019 5:08 PM page 3 of 9
Intermountain Yearly Meeting of the Religious Society of FriendsIncome Statement for the year ending September 30, 2018
Including budget comparisions & 2020 proposed budget
ACCT # Account Name FinalFYE
09/30/18
2018Budget
2018Budget
Variance
2019Budget
Proposed2020
Budget
Income $64/adult $64/adult $64/adult 4010 Assessments (contributions), meetings 51,623 55,040 (3,417) 51,200 49,920 4015 Contributions from individuals - 100 (100) - 4030 Interest income - 100 (100) - - 4510 Gifts in-kind 308 - 308 - -
Subtotal Unrestricted 51,931 55,240 (3,309) 51,200 49,920 5115 Registration fees 18,151 19,728 (1,577) 18,981 14,700 5120 Room & board 88,279 94,941 (6,662) 86,405 72,520 5130 Camper meals 7,712 8,631 (919) 7,344 10,780 5135 Bookstore sales 130 - 130 2,200 2,200 5140 Meeting donations to support pay-as-led 14,050 14,000 50 13,000 14,000 5145 Individual donations to support pay-as-led 4,766 4,766 6,000 5170 Refunds (contra) (3,358) (1,300) (2,058) (2,000) (2,000)
Subtotal Annual Gathering 129,730 136,000 (125,178) 131,930 112,200 5150 Faith & Practice royalty 111 30 81 80 80
Committee on Sufferings - 10 (10) - - 5160 Donations for Mountain Friends Camp (AG) 1,662 1,000 662 1,500 1,000
Subtotal Restricted 131,503 137,040 (124,445) 133,510 113,280 Total Income 183,434 192,280 (127,754) 184,710 163,200
ExpenseAdministration
7010 Administrative & website 1,001 1,200 (199) 600 600 7015 Bank service charges 25 - 25 - - 7017 Credit card processing expense 182 - - 3,000 3,000
7020 Liability insurance1 1,808 1,040 768 1,900 2,000 7030 Supplies 146 104 42 100 550 7040 Online accounting software 865 660 205 660 500 7050 Clerk's discretionary expense - 520 (520) 520 520 7060 Clerk training workshop - - - - 1,200
Subtotal Administration 4,027 3,524 321 6,780 8,370 Contributions
7110 Mountain Friends Camp2 15,162 13,500 1,662 15,000 15,000 7115 Western Friend 7,500 7,500 - 7,500 8,000 7120 Friends Peace Teams 500 500 - 500 500 7130 Friends Cmte on National Legisation (border) 1,000 1,000 - 1,000 1,000 7140 Friends General Conference 625 625 - 1,000 1,000 7150 Friends World Committee - - - - 1,000
Subtotal Contributions 24,787 23,125 1,662 25,000 26,500
5 2019-05-27 Income statement w. budget data fye 9-30-2018 w 2020 budget
5/29/2019 12:25 PM
pages 5 - 6 of 9
Intermountain Yearly Meeting of the Religious Society of FriendsIncome Statement for the year ending September 30, 2018
Including budget comparisions & 2020 proposed budget
ACCT # Account Name FinalFYE
09/30/18
2018Budget
2018Budget
Variance
2019Budget
Proposed2020
Budget Travel by IMYM Representatives
7210 American Friends Service Cmte Corp - 550 (550) 550 600 7220 Friends Committee on National Legislation 1,218 3,150 (1,932) 3,150 3,300
7230 Friends World Committee, Section of the Americas2 - - - 3,000 - 7260 Friends General Conference - 4,000 (4,000) 4,000 4,000 7270 Board of Western Friend 800 1,100 (300) 1,100 1,100 7280 Friends Peace Teams - 550 (550) 550 600
Subtotal Representatives Travel 2,018 9,350 (7,332) 12,350 9,600 Travel by IMYM Committee Members
7310 Arrangements Committee travel 1,441 2,480 (1,039) 2,480 2,500 7320 Representatives Committee travel 1,811 2,480 (669) 2,480 2,500
Subtotal IMYM Committee Travel 3,252 4,960 (1,708) 4,960 5,000 Committee Support
7410 Faith & Practice committee - 100 (100) 5,000 3,000 7420 Nominating committee - 100 (100) 100 100 7440 Peace & Social Justice Committee - 50 (50) 50 50
Subtotal Committee Support - 250 (250) 5,150 3,150 Annual Gathering
7720 Financial aid for Gathering staff - 9,800 (9,800) - - 7730 Financial aid to Gathering attenders - 5,500 (5,500) - -
7740 GR charges CYM, JYF, SYF3 - 3,500 (3,500) 2,800 3,500 7750 Camper meals & fees 16,180 - 16,180 14,850 4,700 7760 Room & board 96,990 101,000 (4,010) 105,000 99,000
Subtotal Ghost Ranch payment 113,170 119,800 (6,630) 122,650 107,200 7775 Bad debts expense 9,184 - 9,184 - - 7780 CYM, JYF, SYF other expenses 483 520 (37) 520 520 7790 Operations expense 118 510 (392) 510 510 7810 Travel for speaker & companion 455 1,100 (645) 1,100 1,100 7820 Honorarium for speaker 2,000 520 1,480 1,000 1,000 7830 Travel for Heberto Sein visitor 340 610 (270) 610 610 7840 SYF expense (re:Shaw Fund) 383 500 (117) 500 500
7845 Program support4 1,276 - 1,276 - 7850 Accident insurance: annual gathering 353 1,500 (1,147) 400 400 7860 Registrar expenses 1,190 1,550 (360) 1,600 1,550 7870 Bookstore expense 186 - 186 1,900 1,900
Transition costs for moving Annual Gathering - - - - 3,000 Subtotal Annual Gathering 129,138 126,610 2,528 130,790 118,290
Total Expense 163,222 167,819 (4,779) 185,030 170,910 Net Income (Loss) 20,212 24,461 (122,975) (320) (7,710)
5 2019-05-27 Income statement w. budget data fye 9-30-2018 w 2020 budget
5/29/2019 12:25 PM
pages 5 - 6 of 9
7-2019-05-27 Notes to Income statment w. budget data and 2020 proposed budget 5/29/2019 12:53 PM page 7 of 9
Intermountain Yearly Meeting of the Religious Society of Friends (Quaker) Notes to Income Statement for the year ending September 30, 2018 Including budget comparisons and 2020 proposed budget 1 Liability insurance is allocated 75% to the Annual Gathering and 25% to general operations. 2 Mountain Friends Camp. IMYM donation of $13,500. $1,662 in donations were collected during registration for Annual Gathering. 3 Ghost Ranch waived charges for Children�s Yearly Meeting (CYM), Junior Young Friends (JYF), and Senior Young Friends (SYF) due to problems they had providing the agreed services. 4 The unbudgeted expenditure in Program Support was incurred because of costs of the Saturday night Contra Dance caller and band.
Additional Notes to Proposed Budget FYE September 30, 2020 4010 Monthly meeting assessment:
7017 Credit card processing expense. Proposed budget amount $3,000. This expense is the cost for credit card processing through the RegOnline payment gateway. A high percentage of Annual Gathering registrants opted for the convenience of this payment method. Cost is 3.95% for Visa and Mastercard, 4.95% for all other brands of credit cards. 7020 Liability Insurance. Premium has been increasing at 10% each year for the last two years. 7040 Online accounting software. Paying annually reduces this cost to less than $500 in 2020. 7060 Clerk�s training workshop. $1,200 for new presiding clerk.
Year Assessment per adult member # of adult members 2015 $50.00 2016 $50.00 + $10.00 Voluntary 2017 $64.00 801 2018 $64.00 811 2019 $64.00 774 to date 2020 $64.00 (proposed budget) 780 (proposed budget)
IMYM-2018 Annual Gathering Income Statementfor the period of 10/01/2017 to 09/30/2018
Acct # Account Name AmountIncome
5115 Registration fees 18,151$ 5120 Room & board 88,279 5130 Camper meals 7,712 5135 Bookstore sales 130 5140 Meeting donations for financial aid 14,050 5145 Individual donations for financial aid 4,766 5160 Donations for Mountain Friends Camp 1,662 5170 Refunds (contra) (3,358)
Total Income 131,391
Expense7010 Administrative & website 236 7017 Credit card processing expense 181 7020 Liability insurance 1,356 7030 Supplies 115 7110 Mountain Friends Camp 1,662 7750 Camper meals 16,180 7760 Room & board 96,990
7775 Bad debts expense1 9,184 7780 Programs CYM, JYF, SYF 483 7790 Operations expense 118 7810 Travel for speaker & companion 455 7820 Honorarium for speaker 2,000 7830 Travel for Heberto Sein visitor 340 7840 SYF expense (re:Shaw Fund) 383 7845 Program support 1,276 7850 Accident insurance 353 7860 Registrar expenses 1,190 7870 Bookstore expense 186
Total Expense 132,688 Net Income (Loss) (1,297)$
Note 1:
Represents registration income recorded in RegOnline, and not paid by IMYM registrants.As a result of this issue, changes were made to 2019 registration process.
8-2018-09-30 Annual Gathering Income Statement 5/29/2019 5:02 PM page 8 of 9
Income Statement with Budget ComparisonBudget: Year to Date for the period of 10/01/2018 to 05/30/2019
Acct # Account Name Actual
YTD AnnualBudget
Income4010 Assessments (contributions), meetings 49,691$ 51,200$ 5115 Registration fees 10,227 18,981 5120 Room & board 83,791 86,405 5130 Camper meals 189 7,344 5135 Bookstore sales - 2,200 5140 Meeting donations for financial aid 12,000 13,000 5145 Individual donations for financial aid 3,795 6,000 5150 Faith & Practice royalty 150 80 5160 Donations for Mountain Friends Camp 1,212 1,500 5170 Refunds (contra) - (2,000)
Total Income 161,055 184,710 Expense
7010 Administrative & website 309 600 7015 Bank service charges 24 - 7017 Credit card processing expense 3,367 3,000 7020 Liability insurance 1,988 1,900 7030 Supplies - 100 7040 Online accounting software - 660 7050 Clerk's discretionary expense - 520 7110 Mountain Friends Camp 15,000 15,000 7115 Western Friend - 7,500 7120 Friends Peace Teams 944 500 7130 Friends Cmte on National Legisation (border) - 1,000 7140 Friends General Conference - 1,000 7210 American Friends Service Cmte Corp 381 550 7220 Friends Committee on National Legislation 905 3,150 7230 Friends World Committee, Section of the Americas 2,611 3,000 7260 Friends General Conference 2,362 4,000 7270 Board of Western Friend - 1,100 7280 Friends Peace Teams - 550 7310 Arrangements Committee travel 4,257 2,480 7320 Representatives Committee travel 397 2,480 7410 Faith & Practice committee 435 5,000 7420 Nominating committee - 100 7430 Peace & Service committee - 50 7710 Use of Ghost Ranch facilities (suspense) 59,000 - 7740 GR charges CYM, JYF, SYF - 2,800 7750 Camper meals - 14,850 7760 Room & board - 105,000 7780 Programs CYM, JYF, SYF - 520 7790 Operations expense - 510 7810 Travel for speaker & companion 385 1,100 7820 Honorarium for speaker - 520 7830 Travel for Heberto Sein visitor - 610 7840 SYF expense (re:Shaw Fund) - 500 7850 Accident insurance 354 400 7860 Registrar expenses 1,075 1,600 7870 Bookstore expense - 1,900
Total Expense 93,793 184,550 67,263$ 160$ Net Income (Loss)
9-2019-05-31 Income Statement w Budget Comparison 6/1/2019 7:50 AM page 9 of 9