Finance Committee Report

1. We should still consider this to be the start of our “church year” from a financial perspective. Two months don’t indicate much. Nevertheless, here are the numbers…
2. Our financial performance from operations was well ahead of budget for the first two months – this is typical, due to congregants paying their pledges in advance. 
   1. Pledge income of nearly $144k is over $58k ahead of budget
   2. Rental income of over $6k is nearly $3k behind budget – this will be the case for the year, as multiple tenants informed us following the completion of our budget that they were no longer going to use our facilities.
   3. Total operating revenue of over $168k is over $66k greater than budget.
   4. Expenses of $112k are $6k lower than budget.
   5. Net gain from operations was over $57k, a $73k improvement from the budgeted loss of $16k
3. “Other income” over $89k ahead of budget due to investment performance…
   1. So our overall finances show a gain of over $95k vs a budgeted loss of $67k

4. Balance Sheet (not shown) – Continues to  look happy – Cash + Investments of nearly $3.0M, EXCLUDING about $140k that belong to either IMPACT or other designated funds of various congregational groups
   1. Comparable number from last year just over $2.8M 

Fiscal Year Actual vs. Budget

July 1, 2024 to August 31, 2024 24/25 Actual   24/25 Budget      

Total Operating Revenue   168,499         102,158

Total Operational Expenses   112,534         118,440

Operational Surplus (Deficit)   55,965       (16,282)

Other Income/Expense* (Net)   39,199     (50,668)

* Investment Income & fees, unrealized gains/losses, depreciation, bequests

Revenue Breakdown

Through August 31, 2024       24/25 Actual           24/25 Budget             

Pledges             143,898             85,600        

Rentals             6,100               8,891          

Net Assets Used for Operations          9,276               4,917          

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