On Thursday last week, five of our board members presented to representatives (three volunteer Scouters and one professional Scouter) from Area 7 of the Southern Region, our plan to move forward as a standalone council. The information we presented was open and forthright and was received well by those presented to. The area team agreed to accept our recommendation that Colonial Virginia Council be given the opportunity to remain a standalone council and will present soon to the Southern Region Executive Board for their final decision. The area team was especially happy to hear about the actions already taken to start the process of rebuilding trust and council / district structure for supporting units and chartered organizations. In addition, many have “stepped up” and given additional Friends of Scouting Campaign contributions to help the council in this time of need. These gifts along with an increase in sales in our Scout Shop have helped tremendously.
- We have received $172,930 of the budgeted revenue of $322,930
- Additionally, we have received an additional $19,079 to cover the $59,351 revenue shortfall
Budgeted Revenue Raised as of 9-28
Shortfall Revenue Raised as of 9-28
I have also provided a link below to view our council’s August 2015 month end operating financial statement.
Direct Support (Friends of Scouting and other direct contributions) and Indirect Support (United Way) are under year to date budget. However, Revenue is above year to date budget. Revenue is income other than contributions, primarily:
- Sales of Supplies (Scout Shop Sales) – below budget
- Product Sales (Camp Card and Popcorn Sales) – below budget
- Camping Revenue (Summer Resident Camp) – above budget
- Activity Revenue (all other District and Council Activities & Events) – below budget
The Total Support and Revenue Year to Date Actual (at the bottom of page 1) at $1,011,195 is under Year to Date Budget ($1,019,308) and is behind of Year to Date Last Year ($1,203,928).
Total Expenses Year to Date Actual (middle of page 2) at $916,792 is below Year to Date Budget ($927,259) and is also below Year to Date Last Year ($1,064,247).
The Year to Date bottom line is the council budget showing a $94,403 surplus, had budgeted at $92,050 surplus and last year had a $139,682 surplus.
Cash flow is a little different. Most non-profit organizations strive to have some cash left in the bank at the end of their financial year in order to carry them into the first part of the next year so they can meet invoices due at that time. If they ended their financial year with a balanced budget and NO cash in the bank, it could present challenges when making payments on invoices or meet payroll obligations at the very first part of the new financial year until enough money was raised to do so. For example, if XYZ non-profit ended their financial year on December 31 with a balanced operating budget showing no surplus, no deficit and had no cash in the bank, and had an invoice due on January 10th and payroll on the 15th, they might have a difficult time meeting those financial obligations so early in the year unless they had enough cash come in after December 31 to do so.