Budget Town Hall 5/19/2024
2U's Budget Town Hall was held on Sunday, May 19th, 2024, where we engaged in a productive discussion regarding the proposed 2024-2025 budget. Here's a recap of what transpired during this insightful event.
Our "One Church, Many Hearts" campaign has demonstrated incredible generosity within our community. Let's celebrate these successes:
Pledge Growth: We exceeded last year's pledge goal by $34k, with over 60% of members increasing their commitment!
Supporting Our Mission: Your generosity enables us to maintain our staffing levels and continue building our beloved community in line with our vision.
Challenges Ahead
Each year, we gather to discern how best to use our shared resources to nurture our vibrant community and live out our Unitarian Universalist values. This year is no different. We are grateful for the generosity and commitment of our members, which has allowed us to make significant progress this year. Our year-to-date (ending in April 2024) operating income is up by 15% above budgeted, driven by lower-than-expected expenses and a 4% increase in total revenue. We are particularly encouraged that pledges year-to-date are above budgeted.
While much has been achieved, we face some challenges:
Pledge Goal Shortfall: We did not reach our full fiscal 2024-25 pledge target.
Rising Costs: Operating expenses, particularly for healthcare and electricity, have significantly increased.
Rental Income Uncertainty: Construction delays and permitting issues impact on our expected rental income.
Potential Program Impacts: These financial constraints may necessitate a reduction in programming, potentially affecting faith exploration, inclusivity initiatives, and justice work.
The Path Forward
Despite these challenges, we're committed to responsible fiscal management. While we're operating with a smaller deficit than initially projected, we need your continued support to:
Amplify Generosity: Consider increasing your pledge if possible or explore alternative giving methods.
Explore New Revenue: We're investigating additional income opportunities.
Prioritize Carefully: We'll work to maintain the programs most vital to our mission.
Thoughtful Stewardship of Resources
Staffing: We deeply value the dedication of our staff and their vital role in our community. While their salaries have not been cut, they have not increased this year. This pause allows us to reflect on the importance of staff in our shared ministry and to plan for future investments that reflect our values and the dignity of their work. Per agreement, we have made significant cuts to Rev. Jason's professional expenses.
Health Insurance: A team of dedicated members is actively reviewing our health insurance options to ensure we provide comprehensive and affordable coverage for our staff.
Facilities: We are exploring ways to improve the quality and efficiency of our custodial and maintenance services, aiming for a cost-neutral approach that combines these functions. We are also seeking a new Sexton/Facilities Manager (Building Maintenance Technician) who can provide a comprehensive range of cleaning, maintenance, and event support services.
Accounting: We are reviewing our accounting services agreement to determine which tasks can be effectively handled in-house by staff and volunteers, ensuring both financial clarity and responsible stewardship of resources.
Utilities: While our overall utility costs have remained manageable, we are closely monitoring electricity usage to identify potential savings.
Phone/Internet: We are transitioning to a more cost-effective phone and internet plan that better meets our needs.
Programmatic Choices
We cherish the diverse programs that enrich our community and foster connections. To ensure our financial sustainability, we have made thoughtful adjustments to some program budgets. We deeply appreciate the commitment of our committees, ministries, and departments, and we are confident that we can continue to thrive together while embracing a spirit of shared sacrifice.
This year we are only funding committees/ministries/teams at their scarcity budget request. This means a reduction in services led by UU clergy when Rev. Jason is not in the pulpit. This means the choir will not regularly have an accompanist for Thursday night rehearsal. This means we will not fund participation in Beloved Conversations. We have done our best to resource our programming in the most equitable way possible so that we can be successful in our ministries and meet the growing needs of our congregation.
Sharing Our Abundance
Our commitment to our wider community remains strong. While we have made slight adjustments to our contributions to CAUUC Fair Share and ONE Northside, we remain dedicated to supporting these important organizations and living out our values of social justice and interconnectedness.
Our community's heart is strong. Together, let's navigate these challenges to ensure a vibrant future for 2U. Thank you for your unwavering dedication.
In community,
—2U Finance Committee Team
