We ended 2004 in good financial condition. Though we were slightly short of our budget goal for income (98% of our goal of $95,236) we were also under budget for spending (97 percent of $95,236) and thus carried approximately $1,000 into the new year.

We are doing well in fundraising for the current year. Our donations through July 2005 are higher than the same period during the last five years. Currently we are slightly above budget for income, while spending is slightly under budget. Our total income will be lower for this fiscal year because it will be only a 10 month budget but should be made up with next year’s November to October budget.

In a step to increase the transparency of our financial activities we have hired Christine Fletcher to pick up our mail and record the check information prior to deposit by Ruah. This information can then by double checked by Treasurer Sarah Pavlovic and the Finance Committee.

We have maintained our Operating Reserve Fund at $14,000 over the past year and had no need to tap into it.

We have put an increased amount of our cash into the New England Yearly Meeting Pooled Fund which pays a good rate of interest, is easily accessible and invests in worthy concerns.

—Respectfully submitted,
Steve McConnell