| FINANCIAL REPORT | ||||
FISCAL YEAR 2006 continued the pattern of the last twenty years in which Riverside Industries, Inc., regularly improved its fund balance and its financial health. We accomplished this while also increasing the salaries and wages of staff and consumers, despite eighteen years of almost level-funding by the Commonwealth of Massachusetts. Riverside is testimony to the ability of a private, non-profit agency, which can generate its own revenue, to provide public service for much less than the cost of the State doing so itself. |
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FISCAL YEARS 2005-2006 |
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| SUPPORT & REVENUE | 2005* |
%
|
2006* |
%
|
| Massachusetts Department of Mental Retardation | $2,603,057 | 37% |
$2,749,385 | 37% |
| Massachusetts Division of Medical Assistance | $1,350,344 | 19% |
$1,398,695 | 19% |
| Other Public Funding | $45,227 | 1% |
$118,583 | 2% |
| Commercial Sales | $1,151,792 | 16% |
$1,021,671 | 14% |
| Federal Contract Sales | $2,091 | 0% |
$2,623 | 0% |
| Food Services | $97,355 | 1% |
$97,249 | 1% |
| Lawn and Maintenance Services | $63,713 | 1% |
$53,386 | 1% |
| Rent-One Cottage Street | $409,023 | 6% |
$412,914 | 6% |
| Riverside Rehabilitation | $1,072,421 | 15% |
$1,219,032 | 17% |
| Miscellaneous Income | $141,158 | 2% |
$151,906 | 2% |
| Donations | $129,318 | 2% |
$90,073 | 1% |
Total Support & Revenue |
$7,065,499 | $7,315,516 | ||
| EXPENDITURES | 2005 |
%
|
2006 |
%
|
| Salaries and Wages | $4,480,563 | 64% |
$4,588,096 | 63% |
| Benefit Package | $815,241 | 12% |
$884,520 | 12% |
| Administrative Expenses | $153,587 | 2% |
$150,524 | 2% |
| Operating Expenses | $1,554,051 | 22% |
$1,635,423 | 23% |
Total Expenditures |
$7,003,442 | $7,258,563 | ||
| *Audited Totals | ||||