Presentation on theme: "Logan School Treasurer's Report April 26, 2011. Introducing the Finance Committee Keryn Engelhard Whitney Holmes Steve Kelly Max Maclay Bill Munn Martha."— Presentation transcript:
Logan School Treasurer's Report April 26, 2011
Introducing the Finance Committee Keryn Engelhard Whitney Holmes Steve Kelly Max Maclay Bill Munn Martha Records Howard Sankel Jason Sindler Andrew Slater Reed Stilwell (PPRSM only) Claire Stilwell, Chair
Topics for Review & Discussion Unaudited financial statements ending March 31, 2011 How Are We Doing?
Budget FY10/11 Expenses Program (incl. tech, transportation, facilities, etc.) $3,126, % Administration780, % Daycare96,0582.4% Fundraising43,5001.1% Total Expenses$4,046,471100%
Budget FY10/11 Net Income Revenue$ 4,128,192 Expenses4,046,471 Net Income$81, % margin
Balance Sheet at 3/31/11 Assets (unaudited) Cash & Receivables$2,649,525 Plant, Property & Equipment 7,365,489 Endowment/Capital Campaign 1,500,771 Total Assets$11,515,785
Balance Sheet at 3/31/11 Liabilities (unaudited) Liabilities Payables $ 8,564 Accrued Expenses40,870 Deferred Revenue976,116 Capital Lease19,143 Notes Payable(8,323) Total Liabilities$1,036,370 Total Net Assets$10,479,415 Total Liabilities & Net Assets$11,515,785
Net Assets on 3/31/11 (unaudited) Unrestricted Assets$2,076,580 Temporarily Restricted Assets6,620,832 Permanently Restricted Assets Net Income (Loss) 970, ,286 Total Net Assets$10,479,415
How Are We Doing? Logan Continues to be in a positive financial position Operating funds and reserves are being carefully monitored during the current slow economic recovery The Endowment Investment Committee continues to manage the endowment funds and refine its investment policy With healthy demand for financial aid, the budget for 2011 has small margin of error. Fundraising critical to balancing budget: Auction raised slightly more than expected. Annual fund needs to make its goal.