Executive Summary of the 7/31/2015 Statement of Budgeted Operations:
All Support and Revenue items (Direct Support, Indirect Support & Total Revenue) are under budget. The Total Support and Revenue Year to Date Actual (at the bottom of page 1) at $442,016 is under Year to Date Budget ($525,083), but is ahead of Year to Date Last Year ($423,252).
Total Expenses Year to Date Actual (middle of page 2) $570,896 is also below Year to Date Budget ($803,398) and is below Year to Date Last Year ($690,493).
The Year to Date bottom line is the council budget is showing a $128,879 deficit, had budgeted at $278,315 deficit and last year had a $267,240 deficit. The council has a deficit but it is better than budgeted and last year.
While the council has a deficit, it still has cash in the bank. Once again demonstrating that operating budget and cash flow are different. If they were the same, a deficit budget might relate to an overdrawn bank account.
Another item asked for at the Town Hall Meeting was the amount needed in revenue for the remainder of 2015.
September 7 - December 6 Budgeted Expenses: $382,281
September 7 - December 6 Projected Revenue: $322,930
Projected Deficit to be Raised on top of Projected Revenue: $ 59,351
So, $59,351 is the amount needed in addition to the already projected $322,930 so the council can meet financial obligations between now and December 6th. After that, popcorn money is due December 2nd and those funds will be used to pay obligations through the end of 2015 including popcorn product invoices.
I hope this information is useful and informative. We will have updates and more information available weekly in the council newsletter, website/blog, facebook page etc. Please visit these sites regularly to stay informed.
Above all, thank you for all you do to deliver the Scouting program to the Scouts in your Scout unit. You make a difference every week in the lives of the young people you meet with and for them I say Thank You.