steve richter girl scouts of san jacinto council annual meeting april 26, 2014 stewardship report
TRANSCRIPT
Steve Richter
Girl Scouts of San Jacinto CouncilAnnual MeetingApril 26, 2014
STEWARDSHIP REPORT
Stewardship Report for the 12 Month Fiscal Year Ended August 31, 2013
Our Financial Status: Balance Sheet and Financial Philosophy
Our Financial Status: the Operating Statement Our Financial Status Today: YTD through
February 28, 2014 Results Compared to Budget
Future Outlook
Our Financial Status: Balance Sheet and Financial Philosophy
We follow conservative financial policies:
No debt No deficit spending – annual
operating budget structured such that we don’t spend more cash than we bring in
Investment policy objectives are to preserve principal with growth
Capital expansions are fully funded before construction begins
Cash & investments $16,131,892
Property & equipment $19,077,853
Other assets $2,176,232
Total assets $37,385,977
Current liabilities $963,122
Net assets $36,422,855
Total liabilities and net assets $37,385,977
GSSJC is in good financial shape Clean audit opinionNo audit disagreements with
managementUnited Way Cash Benefit Plan liability
settled at $693,000
Our Financial Status: the Operating Statement
Our Financial Status: the Operating Statement
Our Financial Status Today: YTD through February 28, 2014 Results Compared to Budget
Cookie Sale was in process at February 28, 2014
Fall Product Sale - candy & magazines fell 7% below budget or approximately $50k short of budget
Investment revenue expected to exceed budget by approximately $54k
Non-capital contributions are expected to meet budget
Future Outlook
Cookie Sale will exceed budget which will result in an approximate 3% increase over prior year sales. The number of girls selling decreased while the average sales per girl increased. Well done!
Fundraising is going well this year and United Way allocations are expected to be consistent with last year.
We expect investment income to continue to exceed budget, however, interest income will continue to be modest because of current rates.
We are optimistic about the remainder of the year.
Girl Scouts of San Jacinto Council
Stewardship Report for the 12 Month Fiscal Year Ended August 31, 2013
Questions