1. CONGREGATION KOL SHOFAR Treasurer’s Report June 2015

2. First – A Huge “Thank You”! To our Staff: Jenni Sutton – Director of Finance Nancy Drapin – Executive Director To our Budget Committee: Past Treasurer – Steven Tulsky Board Member – Rachel Fierberg Future Treasurer – Claudia Frankel

3. 2014 – 2015 Financial Highlights Net Membership Growth of 17 Families (3.5%) Annual Fund Giving (Exceeding Budget) Projected Total Revenues of $1,892,000 Projected Loss of $16K ($12K is from prior year) 2014-2015 Forecast Revenue Net Dues$881,116 Net Tuition$176,446 Net Fundraising$380,009 Rental Income$272,389 Other Income$182,700 Total Revenue $1,907,660 Expenses Compensation $1,423,676 Operating Expenses $500,974 Total Expenses $1,924,650 Net Loss -$16,990

4. 2015 – 2016 Proposed Budget Revenue Net Dues$930,632 Net Tuition$201,561 Net Fundraising$392,000 Rental Income$294,889 Other Income$108,304 Total Revenue $1,927,386 Expenses Compensation $1,346,966 Operating Expenses $495,083 Total Expenses $1,842,049 Net Income $85,377 Total Revenues of $1,927,000 – 1% Increase 5% Growth in Membership Revenue 14% Higher Tuition 14% Lower Fundraising Revenue (Primarily No Cemetery Plot Sale) Total Expenses of $1,842,000 – 4% Decrease 5% Lower Compensation Expense 1% Lower Operating Expense Projected $86K Bottom Line Surplus! Surplus To Be Used For: Capital Expenditures During Fiscal Year Pay Part of Interest on Mortgage

5. Kol Shofar Budget Fun Facts! Tuition Covers only 64% of the cost of educating our children 84% of Gala Revenue goes to support CKS Total Operating Costs/Family --$3,500 Revenue Required/Family -- $2,900

6. Where Our Money Will Come From

7. Where Our Money Will GO Compensation Cost Components

8. Operating Cost Components

9. Questions? Motion from the Board Approval of the Proposed 2015 – 2016 Budget