Joslyn Recreation Center Financials
Revised: February 2016

 

Budgeting
The JRC annual budget for the past decade or so has been geared toward collecting enough income and fees to pay for the anticipated expenses of the year. Where the money comes from and where it goes are shown in the two pie charts, below.  The slice for Capital Expenditures, approximately $10,000, is for major purchases or renovations (example: we installed new carpet last year).  That was about what was spent last year, but we anticipate it will be well below that figure this year.
 

 


 

Reserve Balance

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).

 

Summary

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 (joslyncenter@joslynrec.org).  We hope this information conveys a sense of what has gone into the Board’s financial planning.