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Another (Fiscal) Year Wrapped Up

CFFC operates on a fiscal year that runs from July 1 to June 30. We have completed the annual report for the year ended June 30, 2021. You can review that report at CFFC Financial Statement 06302021. The statement shows a comparison of the last two completed years.

As you might expect, the adjustments resulting from COVID-19 protocols had a significant impact on our finances. The biggest hit was felt on our revenues. In recent years, our most significant income has come from the sponsors of our Education Day program; therefore, the cancellation of the 2020 event left a hole on the revenues. Moving the 2021 Education Day to August 4, 2021 has the effect of deferring the associated revenues into the next fiscal year. Although we also cancelled the 2020 Living with CF Golf Tournament, our faithful sponsors graciously let us retain their contributions.

The changes implemented for clinic visits and hospitalizations had an impact on the demand for Hospital Help Packets and pediatric Clinic Baggies, our two major expenses. We buy the parking passes in bulk, so the timing of those purchases may cause variations between fiscal years. The rates charged for parking at Strong is about double of what we pay for Highland passes which is the primary cause for the difference between pediatric and adult parking expenses. We are fortunate that the balances we have accumulated in prior years allowed us to continue our patient benefits despite the decreased revenues.

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