Recreation Center Financials
You may have noticed that the income chart shows less money than the expense chart. In other words, we will run a deficit this year. Fortunately, the Joslyn Center has a reserve fund, which can make up the difference. Historically, the reserve balance was built up from one time sources such as gifts and bequests from members. In inflationary times, having the reserves provides additional income (for example, interest on certificates of deposit). However, its main purpose is to ensure that we can replace large, capital items when they need replacing (for example, new carpets).
The Board of Directors is working to lower expenses and increase income. We hope to reduce the deficit to a manageable amount in 2016. There is probably no right answer about how to plan for the Joslyn's financial wellbeing over time. The board welcomes questions on the topic as well as your thoughts and opinions to help shape the financial decisions that are made throughout the year (firstname.lastname@example.org). We hope this information conveys a sense of what has gone into the Board’s financial planning.