SGS Treasurer Summary Report March 27, 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 to help us understand how this was possible. When the building was painted, the caulking of the window frames was not completed correctly. When the deck was added, it was not sealed correctly. In order to stop further water damage to the interior of the building repairs need to be made as soon as possible.

Our painting contractor has gone out of business and moved out of state. We did deck installation ourselves. The committee believes that our only recourse is to have the work done professionally as quickly as possible. Karen Hunt of iTrips is helping us with coordination of this work. Current estimates for both jobs is $8820 with tax. The committee believes that the costs could be higher once the contractor starts work. I am now holding in reserve $10,000 for possible repairs.

Some of these costs can be covered through rental income. However, I believe that the costs for these repairs will exceed both our savings and iTrips year to date income. Jim will be exploring the following options for covering the additional costs: Home Equity Loan, Insurance coverage, a SPNW regional loan from the housing fund.

Building Rentals

iTrip booked 3 rentals in Spring Street Center in March. Income from all rentals is being held in escrow to pay for repairs.

Donations

Donations through March have been lower than similar months in 2020. Last year member contributions picked up starting in March. I am hoping that will be possible this year as well. Our donations plus iTrip income against our expenses for 2021 have resulted in a small net income of $614.

During a recent discussion regarding our need to operate our rental business, a member stated that they believed we could handle our expenses without having the rental business. On average this year, donations have covered roughly one half of our expenses. So, every dollar donated by a member is appreciated.

March Expenses

Our March PSE gas bill was $82 lower than February. Thanks to our members remembering to not put the thermostat in the women’s hall on Permanent Hold.

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, Oswald Norton.

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