steve richter girl scouts of san jacinto council annual meeting april 26, 2014 stewardship report

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Steve Richter Girl Scouts of San Jacinto Council Annual Meeting April 26, 2014 STEWARDSHIP REPORT

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Page 1: Steve Richter Girl Scouts of San Jacinto Council Annual Meeting April 26, 2014 STEWARDSHIP REPORT

Steve Richter

Girl Scouts of San Jacinto CouncilAnnual MeetingApril 26, 2014

STEWARDSHIP REPORT

Page 2: Steve Richter Girl Scouts of San Jacinto Council Annual Meeting April 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

Page 3: Steve Richter Girl Scouts of San Jacinto Council Annual Meeting April 26, 2014 STEWARDSHIP REPORT

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

Page 4: Steve Richter Girl Scouts of San Jacinto Council Annual Meeting April 26, 2014 STEWARDSHIP REPORT

Our Financial Status: the Operating Statement

Page 5: Steve Richter Girl Scouts of San Jacinto Council Annual Meeting April 26, 2014 STEWARDSHIP REPORT

Our Financial Status: the Operating Statement

Page 6: Steve Richter Girl Scouts of San Jacinto Council Annual Meeting April 26, 2014 STEWARDSHIP REPORT

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

Page 7: Steve Richter Girl Scouts of San Jacinto Council Annual Meeting April 26, 2014 STEWARDSHIP REPORT

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.

Page 8: Steve Richter Girl Scouts of San Jacinto Council Annual Meeting April 26, 2014 STEWARDSHIP REPORT

Girl Scouts of San Jacinto Council

Stewardship Report for the 12 Month Fiscal Year Ended August 31, 2013

Questions