Finance Committee Report

1. Our financial performance from operations was well ahead of budget for the first seven months of our fiscal year – a function of congregants paying their pledges in advance and some program spending significantly below budget
   1. Pledge income of over $372k is over $72k ahead of budget
   2. Rental income of nearly $28k is about $5k 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 $506k is $139k greater than budget.
   4. Expenses of $439k are $42k lower than budget, primarily due to personnel and program expenses being below budgeted expenses
   5. Net gain from operations was over $67k, a $182k improvement from the budgeted loss of $115k
2. “Other income” over $188k ahead of budget due to investment performance…
   1. So our overall finances show a gain of over $106k vs a budgeted loss of $264k

Fiscal Year Actual vs. Budget

July 1, 2024 to Jan. 31, 2025           24/25 Actual   24/25 Budget      

Total Operating Revenue   506,145         366,550

Total Operational Expenses   438,936         481,539

Operational Surplus (Deficit)   67,209     (114,989)

Other Income/Expense* (Net)   38,784     (149,024)

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

Revenue Breakdown

Through Jan. 31, 2025       24/25 Actual           24/25 Budget             

Pledges 372,196         299,600        

Rentals               28,141             32,617          

Net Assets Used for Operations         88,562           18,375          

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