Finance Committee Report

1. Our financial performance from operations was well ahead of budget for the first five months of our fiscal year – not a surprise, due to congregants paying their pledges in advance. 
   1. Pledge income of over $345k is over $88k ahead of budget
   2. Rental income of nearly $25k is about $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 $413k is $99k greater than budget.
   4. Expenses of $367k are $42k lower than budget, primarily due to personnel and program expenses being below budgeted expenses
   5. Net gain from operations was nearly $46k, a $142k improvement from the budgeted loss of $96k
2. “Other income” over $133k ahead of budget due to investment performance…
   1. So our overall finances show a gain of over $42k vs a budgeted loss of $233k

3. Balance Sheet (not shown) – Continues to  look happy – Cash + Investments of over $2.9M, EXCLUDING about $140k that belong to either IMPACT or other designated funds of various congregational groups
   1. Comparable number from last year just over $2.7M 

Fiscal Year Actual vs. Budget

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

Total Operating Revenue   413,029         313,922

Total Operational Expenses   367,081         409,573

Operational Surplus (Deficit)   45,948       (95,651)

Other Income/Expense* (Net)   (4,131)     (136,900)

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

Revenue Breakdown

Through Dec. 31, 2024       24/25 Actual           24/25 Budget             

Pledges 345,124         256,800        

Rentals               24,851             27,872          

Net Assets Used for Operations         19,959           14,750

Share this post: