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

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Presentation transcript:

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

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 opinion No audit disagreements with management United Way Cash Benefit Plan liability settled at $693,000

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