As we are now in our new fiscal year (July 2018 – June 2019), I want to provide a financial recap of last year and share our budget for this year. Through the hard work of the Board of Trustees, our Committees and their Chairs, and the FACTS (Financial Advisory Council of Temple Sinai), we made great strides last year to begin securing our synagogue’s finances. We revised the dues structure to ensure that membership is affordable to our diverse membership yet will sustain us going forward, improved our monitoring and collection efforts to ensure that more of what is pledged is collected, and hired the Rabbis Zober to lead us religiously, spiritually, and yes, financially, into the future.
I am pleased to report that after three years of budget deficits (we spent more than we took in) totaling approximately $60,000, we had a surplus of $2,600 this past year. We ended the year with almost $140,000 in cash and investments, although about $60,000 of that resides in restricted funds, meaning that money can only be used for certain purposes. This is a tremendous turnaround and was only possible due to the generosity of those willing and able to make multi-year pledges to build an emergency fund and help support our annual budget, the congregation stepping up during our High Holy Day pledge campaign, and some donations made for specific programs (i.e., Shabbat Unplugged).
Although this is great news, we need to ensure that our membership continues to thrive and that everyone pays dues at or above their relevant dues level, or at least at a level that is financially affordable to them. We need to keep the momentum going so that we continue moving forward.
CLICK HERE to view our budget for this fiscal year. As you will see, including the projected philanthropy donations and increased revenue from dues, we are still projected to have a deficit of approximately $3,000. However, if last year is any indication, with everyone’s help and participation, I am certain we can exceed the budget and show a small surplus again this year.
There are a number of members who have not yet renewed this year and in order to achieve our goals, we need everyone’s involvement and support. If you haven’t renewed, please go to www.sinaireno.org/renew and continue your commitment to Temple Sinai, and let us know that you will help us achieve our goals.
On a personal note, I appreciate the almost universal encouragement and assistance I received after unexpectedly taking over as Temple Sinai’s Financial Officer last October. With your continued support, we can grow our membership and ensure that Temple Sinai has a surplus year after year, and will be here to serve the needs of the Reform Jewish Community in Northern Nevada for decades and generations to come.
Financial Officer, Temple Sinai