As you might expect, everything has been very dynamic and quite interesting during this Pandemic Period, but praise God that our situation is very stable right now.
As you will see in the notes below, there have been some challenges and lost income. However, through the PPP loan, the continued generosity of every one at Our Savior, and the continued efforts of our staff to provide a top-quality education in our preschools and school, the overall business and financial outlook for Our Savior is positive.
Revenue challenges include:
Tuition: we recognized there would be financial hardships within some of our school families, making it difficult to adhere to Tuition Agreements. We provided opportunity for families to request assistance if needed and this has resulted in around $42,000 of tuition forgiveness. Although this is a revenue reduction for us in the short term, much appreciation for our approach has been voiced by parents and thus, long term loyalty has been earned. We view this as part of our ministry to these impacted families.
Extended Child Care: approximately $40,000 of lost revenue in this fiscal year due to closing as of mid-March.
Planned Preschool Summer Camps: $5,000 of lost revenue in this fiscal year due to camps not being able to open until at least July (next fiscal year).
Facility Rental: Loss from planned rental agreements: $14,000 from Young Set Club Summer Camp who were scheduled to for 9 weeks this summer. As well as $4,500 from Joey Travolta Short Film Camp who were scheduled for 2 weeks this July. These opportunities may resurface in summer of 2021.
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Additional costs will be incurred due to needed purchase of supplies required for COVID-19 requirements and safety.
As good stewards of our resources, we are reducing monthly spend wherever possible. Some examples include:
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Temporarily suspended our professional janitorial services saving over $4000/month.
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Temporarily reduced our services with Livermore Sanitation resulting in savings of $500/month.
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Efficiently managing our utility needs resulting in monthly savings.
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Bundling our telecom services in June, resulting in savings of $700-800/month going forward.
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Any contracts up for renewal and/or month-to-month arrangements, rebidding and resourcing to secure lower costs and/or higher quality of product/services is a priority. Over the past year this has included changing gas suppliers, property/liability/worker's compensation insurance companies, new security and fire system provider, reduction of elevator maintenance contract, changing paper products/soap supplier, and new payroll system provider. Collectively, these have resulted in substantial, ongoing savings for our Ministry.
Blessings for which we are thankful:
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Secured PPP loan that helps cover payroll expenses for a couple months, allowing us to maintain full employment through end of current school year.
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Church Donations have come in at 100% of budget from March-May (initial Pandemic Period), so we are still tracking to 99.7% for the FY with one month remaining. Praise be to God and THANKS to all who have been so generous!
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Viewing of on-line Worship Services has been above our normal Sanctuary attendance.
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Great participation in on-line Bible Studies, fellowship check-ins, and general faith-based discussions held via zoom.
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Health of Ministry Staff: no known COVID-19 cases since Shelter-in-Place begun.
Please be advised:
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Portals of Prayer are available, just contact Ministry office a 447-1246 to schedule pickup.
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Scrip is still available to purchase. Contact Carla Gomes (
cgomes@oslm.net or 447-1246, Ext. 222) to schedule.
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Fiscal Year 2020-2021 budget will be delayed. Due to uncertainties caused by COVID-19, we anticipate a delay until we have better understanding of ACTUAL school enrollment for next year.