2017 Yearbook 2018 Budget Notes
Apportionment Income: The new apportionment formula takes effect with the 2018 budget. The formula was revised so that it now asks all Monthly Meetings for the same percentage of their income; this percentage is 24.9 for 2018.
All Other Income: This is mostly releases from the restricted funds for the Shoemaker Grant, the Sue Thomas Turner Quaker Education Fund, the Indian Affairs Fund, and the Educational Grants Funds.
Camp Program and Property Income: Camp Program Fee Income of $870,200 includes a fee increase of $45,000. Camp Property Income no longer includes funds released from restriction for the completion of capital projects, as these funds cannot be utilized for operating purposes.
Camp Program Wages and Benefits: This line includes wages and benefits for the Camping Program Manager plus approximately 120 seasonal employees in our three camps and Teen Adventure.
Camp Property and Program Expenses: The amount on this line includes the $45,000 camping fee increase which was earmarked for Friendly loan payments for the Catoctin bathhouse. Of this amount, $7,700 will be used in 2018 to pay interest, $16,800 will be spent on principal payments, and the balance of $20,500 will be held for interest and principal payments in 2019 and future years.
Capital Expenditures Funded from Current Income: Capital expenditures for the camps are covered by contributions restricted to that purpose. Capital expenditures for the BYM office must be paid with funds from unrestricted reserves.
Contribution Income: Total contribution income in our 2018 operating budget is $371,800, a substantial increase from 2017. Increased contributions are projected in all categories but especially for Camping, Youth Programs and Administration, where the increase is earmarked to cover the increased costs association with the HOPE program. An additional $329,000 of contribution income is budgeted for restricted funds for capital purposes.
Contributions to Organizations: Contributions for 2018 are essentially the same as previous years. For the organizations which receive small contributions, there is a review process underway to establish criteria for receiving contributions and the appropriate amount.
Depreciation Expense: Depreciation is not included in the 2018 operating budget. Budgets in future years need to include a line item for funds to be transferred to capital reserves to replace buildings and capital items as they wear out.
Other Gifts and Grants: This item includes amounts paid from restricted funds for various gifts and grants including the Sue Thomas Turner Quaker Education Fund, The Indian Affairs Fund, and the Educational Grant Funds. The income line called All Other Income covers these costs.
Total Operating Surplus (or Loss): This budget is balanced, but all budgets are estimates. If income is less than expected or expenses are greater than expected, the budget can be kept balanced by transferring less to reserves.
Wages and Benefits: Wages and benefits in all categories include gross wages, payroll taxes, employee benefits and pension contributions for some staff. The additional costs of $59,800 for the HOPE proposal are included in administrative wages and benefits.