Friends,
We are preparing for the annual meeting on February 7. It is virtual and you must pre-register. I recommend you register early. You must wait for an email from Zoom with your unique meeting link. We will have tech support available but there could be a rush with people seeking assistance.
Registration is simple, but there are a few things you should know. There is only one vote per device, which means a couple using a single device counts as one member for the quorum and one vote. You may call in from a telephone and this counts toward the quorum, but you may not be able to talk or vote from a telephone. I recommend everyone use a computer, tablet, or smart phone, if possible.
Our financial position is strong, which surprises me in our COVID environment. I expected stress on the budget. We finished last year with a surplus and we will use the surplus this year to balance the budget. This means there was (is) no draw on the Operating Endowment in 2020 and 2021. (We took money out before COVID and put it all back. Net draw is zero over two years).
I share this news about the budget to encourage you to attend the Finance Forum on February 4 at 7PM. This precedes the annual meeting and no registration is needed. It is a simple Zoom meeting. Our financial reporting has become complicated because our auditor is changing the way we book revenue and expenses. It is a paradigm shift. This doesn’t change our finances, but it does change our vocabulary. For example, a transfer from an endowment is not revenue for the budget, but a donation to an endowment is revenue on the budget. We have never thought about revenue and expenses in this way. There is a learning curve here and we hope to share it in the Finance Forum. Hopefully, this will allow the Annual Meeting to run smoother and shorter.
I pray you are all safe and healthy.
Peace, Paul+