Financial Report Narrative
For the 12 Months Ending May 31, 2017 – Fiscal Year End
Cash Receipts totaled $346,730 and Cash Disbursements totaled $290,737, resulting in a positive net cash flow, for the 12 months ending May 31, 2017, of $55,993 and an ending cash balance of $240,957. The positive net cash flow position for the fiscal year was largely due to the net income from the SHCA’s rental income from the parking lot on Front Street.
We collected $78,684 in membership dues this fiscal year compared with $73,458 in the prior fiscal year.
The Society Hill Reporter generated $54,901 in revenues and $54,337 in expenses, leaving a small net contribution for the year.
Society Hill is holding restricted funds of $46,626 for projects that SHCA sponsors, including Fix the Brix, the Franklin Lights, Sidewalk Cleaning and Graffiti removal, and Tree Tending and Dead Tree Removal.
Also, the Society Hill Preservation Foundation, a 501(c)(3) organization, is holding $258,744 in balances, the majority of which is restricted to the maintenance and beautification of Washington Square Park ($235,691).