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Financial review: ‘Round the Mountain and Friends post modest surpluses amid pending grant receivables
Summary
Finance staff reported FY24/25 results: ‘Round the Mountain had a $23,000 profit with a $77,000 cash position; Friends reported a $142,000 profit and $397,000 cash position, with several receivables tied to ARC and West Piedmont grants and obligations to People Inc.
At the Sept. 11 meeting Paula Hurt presented the Foundation’s FY24/25 financial results for two partner organizations.
Paula Hurt said ‘Round the Mountain reported an overall profit of $23,000. Revenue was down by about $18,000, but expenses were well under budget; a planned $25,000 cash reserve was not needed. The organization’s cash position was $77,000, with accounts receivable of $48,000 (primarily pending grant payouts) and accounts payable of $51,000, most of which has been settled.
Hurt reported that Friends recorded an overall profit of $142,000. Revenue decreased by roughly $67,000, attributed to lower consignment sales, café food sales, partnership participation and marketing grants. Expenses were $209,000 under budget, with savings in maintenance and personnel costs; development activities produced a $12,000 profit. Friends’ cash position stood at $397,000 with accounts receivable of $184,000 (primarily ARC and West Piedmont grants) and accounts payable of $202,000, which the staff said are mainly pending grant payouts and obligations related to People Inc.
The transcript records these figures as presented by staff; no additional roll‑call or external audit details were provided during the meeting.
