April Financial Summary

SGS Treasurer Summary Report, April 23, 2021

If You Haven’t Donated, Now Is The Time

Your committee appreciates everyone’s financial support. Even though Spring Street Center is able to provide some of our income needs. It is not able to cover all costs. Your donations, on average, cover only 51% of our costs.

Our goal for 2021 is to have everyone contribute something toward the upkeep of our center.  When you give a little bit each month, you become a part of  a membership dedicated to preserving our building for the future. If you have not yet donated this year, please do so! If you need a reason to donate please read the rest of this report. Thank you!

Future Expenses

The extensive wet weather this year allowed water to permeate the window frames on bedrooms 2 & 3 and our small deck on the 2nd floor.  iTrip has been helpful coordinating contractor estimates. We have now engaged Absolute Rot Repair Inc. to repair the damage in both areas.  Their estimate for repairing both areas is $20,919. The work has now begun.

In this month’s Subud PNW meeting – as previously reported – Jim O’Halloran was able to secure a commitment to a loan of $10,000 from the SPNW housing fund, which the group will have to repay. I had set aside $10,000 of our savings for these repairs. We also have approximately $4,990 iTrips was holding in escrow to assist in payment.

If the actual work to complete the repairs does not exceed Absolute’s estimate, and we draw on the loan from Subud PNW, we should have the ability to pay for the repairs as they occur.

The committee hopes to repay the SPNW loan before the end of the year through a combination of rental income and member donations.

Building Rentals

iTrip booked 4 rentals in Spring Street Center during April. Income from all rentals is being held in escrow to pay for repairs. Due to continued limitations from the COVID-19 pandemic, there have been no booking for our halls during the same period.

Donations

Donations through April have been on average 30% lower than in 2020. We are now running a deficit and hope that members who have not donated previously will now consider joining those who do so already.

If you believe we can handle our expenses through member contributions, please consider this:

On average this year, donations have covered roughly one half of our expenses. The rest has been covered by our enterprise. Every dollar donated by a member is appreciated.

April Expenses

Our April PSE gas bill was in line with February’s, in spite of having 4 rentals. 

Budget for 2021

Your committee is in the process of creating our budget for 2021.  Until we have a clearer picture of income and expenses, I am unable to finish this work. Once the committee has a clearer understanding of these, we will present a budget at a general meeting for your consideration. 

Important! New name for donation checks to Subud Greater Seattle

Use only “Subud PNW – Seattle Center” on any future donations to our center.  Bank rules, recently changed, are delaying deposits.  Please be sure to change the “Pay To The Order Of” section of your handwritten or automatic withdrawn check from your account and use this name. If you intend to make your donation to the Region, please earmark your check Subud PNW.

Thanks for those who have setup monthly donations

Thanks to all our monthly donators who have a recurring donation sent from their bank.  You save on envelopes and stamps.  And, you don’t have to remind yourselves to write a check. These regular checks really help us meet our monthly commitments to the region and pay for our use of our facilities. 

If you’d like to know how to set up a recurring donation to our group through your bank, please contact me.

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