The P& L statement below shows CHS income running slightly higher than expenses for the first nine months of the current fiscal year. Total income to date represents 60% of our annual budget while expenses are at 58% of the annual. Both income and expenses are lower than the 75% which would be expected since we are three quarters of the way thru the fiscal year. In the remaining three months we have several large expenditures including funding scholarships, insurance, accountant services and costs for the new website. Nonetheless, I anticipate that lower than estimated costs for this fiscal year will result in withdrawing $10,000 less than budgeted from our endowment account.
The endowment account continues to recover after several years of lackluster performance, as indicated by a 12% increase over the past nine months.
— Ken Stubenrauch, Treasurer