How much is the projected budget deficit?
A. The estimated shortfall for the 2001-02 budget period is projected to be $50,000. The new fiscal year Budget 2002- 2003 projects a deficit of $171,215. Q. What caused the budget deficit? • A decline in membership. Fewer members mean less money will be raised from dues. • We raised less than expected from our 2001 High Holy Day Appeal and other discretionary giving opportunities. Q. How will HNT cover the shortfall? A. We have sufficient operating reserve funds to cover this year and next years shortfall. Then, we hope to replenish those reserves at our earliest opportunity. Q. Will my dues go up? A. The 2002-2003 budget, which was submitted to the congregation for approval May 19th, includes a 5% dues increase. Q: How has the leadership transition affected the budget situation? A: We believe the search for a new rabbi had an impact on membership. We also incurred some one-time expenses related to Rabbi Roses departure and to the search process itself; we will incur one-time expenses
