Our fiscal situation is hardly rosy, as I have mentioned in previous columns. SCNA has about $100,000 in our checking account and $387,000 in our Reserve for Replacement (RFP) fund, Treasurer John Bailey reports.
Unlike our checking account, the RFP’s specific purpose is for major maintenance of and repairs to the Sierra 2 Center.
The overwhelming success of the Big Day of Giving ($52,000) and Terri Shettle’s diligence in acquiring various grants and other funding, including the Payroll Protection Plan, are helping us stay afloat. Since March, we have received more than $190,000 in grants and contributions, but they are stopgap measures at best.
Due to the uncertainty about reopening Sierra 2 and the conduct of large-scale events for the foreseeable future, our budgeting process has adopted a short-term approach. This allows us to adapt more readily to changing circumstances.
After accounting for current revenue and expenditures, we project a recurring monthly deficit of $21,000, which will have to be covered by our checking account. Clearly we must continue to explore ways to obtain revenue while reducing operational costs including Sierra 2 Center staff reductions.
On the positive side, despite the overall closure of Sierra 2, we managed to retain almost all of our tenants under restructured leases. But we did lose one of the longest tenured tenants – the Italian Cultural Society.
The Development Committee has diligently worked to produce a creative October event that we hope will appeal to everyone. Kathy Les’ article on Page 1 covers all the details about the Porch Picnic fundraiser. Because this will be SCNA’s only event this year, please join us and help make it a success.
December looms large because it’s when our annual membership meeting is held to elect directors for the SCNA board. Our Ad Hoc Nominating Committee, chaired by Bruce Pierini, has been hard at work.
It is tasked with presenting a slate of candidates to the board in November. In addition to its efforts, our bylaws also permit nominations to occur from the floor at the membership meeting.
Viewpoint is the voice of SCNA. My hope is that reading it will generate interest among our members and a willingness to volunteer their valuable time in service to our community. I also hope to encourage residents to join or rejoin SCNA. The upcoming Porch Picnic fundraiser is the perfect opportunity to do so.