As we are now in our new fiscal year (July 2019 – June 2020), I want to provide a financial recap of last year and share our budget for this year. Our membership continues to grow and we ended the year with 165 member units. The Rabbis Zober just celebrated their first anniversary at Temple Sinai and their enthusiasm, love for each other and for Judaism, and inclusiveness is contagious and has made our synagogue and community stronger.

I am pleased to report that this past fiscal year we had a surplus for the second year in a row (meaning we took in more than we spent). Last year we had a surplus of $1,300 while two years ago we had a surplus of $2,600. This is despite the fact that last year we unexpectedly had to replace a furnace and air conditioning unit, as well as update our security system. We ended the year with almost $115,000 in cash and investments, although about $71,000 of that resides in restricted funds, meaning that money can only be used for certain purposes. This 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, and the congregation stepping up both during our High Holy Day pledge campaign, and when we asked for donations to help pay for these unexpected expenses.

Below is our budget for this fiscal year. While this is the largest budget ever at Temple Sinai, the major increase is for the Building. After years of putting off regular maintenance and other projects because Sinai didn’t have the money, we are committed to investing every year in some projects to maintain or upgrade the building and grounds. Including the projected philanthropy donations and increased revenue from dues, we are still projected to have a deficit of approximately $5,500. However, if the last two years are any indication, with everyone’s help and participation, I am certain we can exceed the revenues in the budget and show a small surplus again this year. While we currently must rely on donations to cover all of our expenses, we are growing and hopefully, there will come a time when our dues and regular donations to Sinai will cover all of our expenses and philanthropy can be used to build up our reserves and invest in strategic projects.

I am excited about our new Board, which, I am told, is the most diverse in Sinai’s history. With your continued support, we will continue to 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.

I look forward to continuing to serve as your Financial Officer for the next two years and I welcome any comments, questions or feedback you may have.

Jay Goldberg
Financial Officer, Temple Sinai