Finance Committee Report

1. We’ve now completed the first quarter of the congregation’s year. Here’s how we’re looking financially
2. Our financial performance from operations was well ahead of budget for the first quarter – this is typical, due to congregants paying their pledges in advance. 
   1. Pledge income of nearly $185k is over $56k ahead of budget
   2. Rental income of over $10k is over $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 $226k is nearly $73k greater than budget.
   4. Expenses of $160k are $16k lower than budget.
   5. Net gain from operations was over $66k, a $89k improvement from the budgeted loss of $22k
3. “Other income” over $143k ahead of budget due to investment performance…
   1. So our overall finances show a gain of over $83k vs a budgeted loss of $148k

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 under $2.6M 

Fiscal Year Actual vs. Budget

July 1, 2024 to Sept. 30, 2024           24/25 Actual   24/25 Budget      

Total Operating Revenue   226,316         153,536

Total Operational Expenses   159,887         175,812

Operational Surplus (Deficit)   66,429       (22,276)

Other Income/Expense* (Net)   16,716     (125,784)

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

Revenue Breakdown

Through Sept. 30, 2024       24/25 Actual           24/25 Budget             

Pledges             184,650           128,400        

Rentals             10,238             13,636          

Net Assets Used for Operations          13,861               7,375

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