Finance Update - FY23, Q3

Salt House Treasurer Irwin Dolobowsky hosts a finance update for the Salt House Community on April 23, 2023.

Here's the details:

-- If you're new to Salt House, know that we don't have any debt (e.g, we own the building, no mortgage).

-- Silicon Valley Bank folded and the company that processes our payroll were affected. All has been rectified!

-- Fraud on our accounts! About $4500. We caught it and are being reimbursed. Plus, we changed banks (US Bank to Chase Bank)

Giving is low compared to budget: 84% of planned giving for the year = $54,000 UNDER our giving goals. Expenses are also down: 96% of budget. NET operating income is -$47,634 (deficit). We have a considerable amount of savings. Our liabilities are small. That said, we working hard to sort a budget for the FY24 budget year (July 1 - June 30) that will enable us to move forward in mission and ministry.

Join us on Sunday, May 14 for our budget presentation and forum. And then come on Sunday, June 11 for our Annual Meeting where we'll vote to approve our budget for the coming year!

Questions: Email Treasurer Irwin Dolobowsky at treasurer@salthousechurch.org