Latest Treasurer's Reports
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Treasurer's Report for September 2012
Summary of September 2012
Financial Activity of Operating Fund
| This Month |
Year to Date |
|
| Income |
$ 59,086 |
$ 541,109 |
| Expenses |
$ 57,650 |
$ 545,075 |
| Operating increase or (decrease) |
$ 1,436 |
$ (3,966) |
The September income was about $9,339 above what we had budgeted. Many things contributed to this bounty including our general donations and substantial gifts designated for other specific projects (such as donations for the support of our Associate and those given for Parish Development) that had not been planned for in the budget. Also, the value of our investments continued to rise. Our total income for the month was about $59,085.
Our expenses for the month were about $5,135 above what had been budgeted. Our staff expenses were about $1,180 higher due to the different wage scales being paid that what had been budgeted. Our Ministry expenses were about $4,185 above what had been budgeted, due to the last payment on the piano rebuild (partially matched by donations). Everything else was very close to budget.
Our total expenses were about $57,650, which was about $5,134 less than our income. This leaves us about $3,965 behind for the year (which is about $24,390 better than where our budget had us).
Birthday Offerings
The topic of what happens to the birthday money that is collected on the first Sunday of the month came up at the first Budget Hearing. I called up the treasurer of the diocese and she told me that this money is put into the Bishop's Fund for Youth. This fund is then used to sponsor youth activities throughout the diocese (such things as New Beginnings, Happenings, etc.)
Your Treasurer,
Arthur Kassebaum
Treasurer's Report for July 2012
Summary of July 2012
Financial Activity of Operating Fund
| This Month |
Year to Date |
|
| Income |
$ 53,450 |
$ 420,057 |
| Expenses |
$ 56,661 |
$ 430,281 |
| Operating increase or (decrease) |
$ (3,211) |
$ (10,224) |
The July income was about $7,080 above what we had budgeted. Many things contributed to this excess including our general donations and substantial gifts designated for other specific projects (such as donations for the support of our Associate and those given for Parish Development) that had not been planned for in the budget. Also, the value of our investments continued to rise. Our total income for the month was about $53,450.
Our expenses for the month were very close to what had been budgeted. Our property expenses were almost $2,000 less than budgeted, but this was balanced by our mortgage principal payment and the ministry expenses each being about $1,000 more than budgeted for the month.
Our total expenses were about $56,660, which was about $3,211 more than our income. This leaves us about $10,224 behind for the year (which is about $13,322 better than where our budget had us).
Facts about our mortgage
Several people have ask about our mortgage, (we got the loan from Torrey Pines Bank in August of 2009 to cover the remaining expenses of refurbishing Roetter Hall). Here are some of the numbers:
- The original loan was for $684,474,
- As of August 22, 2012 we owed $590,073,
- The interest rate is variable and is currently 6.5%,
- This loan is currently costing us more than $100 per day in interest,
- The term of the loan is 10 years, which means that if we pay only the minimum payment each month and the rate does not change, we will have a “balloon” payment of about $443,420 due in August of 2019.
Arthur Kassebaum
Treasurer's Report for June 2012
Summary of June 2012
Financial Activity of Operating Fund
| This Month |
Year to Date |
|
| Income |
$ 62,968 |
$ 366,607 |
| Expenses |
$ 57,798 |
$ 373,797 |
| Operating increase or (decrease) |
$ 5,170 |
$ (7,190) |
The June income was about $13,220 above what we had budgeted. Even though our general donations were below expectations, this was more than made up by substantial gifts designated for other specific projects (such as a donation from the Diocese for the support of our Campus Ministry, the Mother's Day open plate and the support of our Associate) that had not been planned for in the budget. Also, the value of our investments was up and we received a large payment from our insurance company to cover the damage to the plate glass protecting our stained glass window. Our total income for the month was about $62,968.
Our expenses for the month were (only) about $7,780 above what had been budgeted. Our staff expenses were down due to them working fewer hours than had been anticipated. Our property expenses were over budget due to the damage to the plate glass window (mentioned above); and the ministry expenses were more than budgeted for the month (mainly due to the outreach activity this month).
Our total expenses were about $57,798, which was about $5,170 less than our income. This leaves us about $7,190 behind for the year (which is about $5,700 better than where our budget had us).
Donations continue to be received for the restoration of our piano. Since April we have raised $8,845 towards this project. This, combined with the $4,000 from our budget, should cover the expenses. We have heard from the company doing the work and they stated that they are making progress and that we should have our piano back by mid-August!
Now that it is the middle of July, I have prepared the donation statements that will show you how you are doing in relation to your pledge and also serve as verification that our books are correct. Please pick them up outside of church and check them for accuracy.
Your Treasurer,
Arthur Kassebaum
Treasurer's Report for May 2012
Summary of May 2012
Financial Activity of Operating Fund
| This Month |
Year to Date |
|
| Income |
$ 55,182 |
$ 303,639 |
| Expenses |
$ 59,390 |
$ 316,000 |
| Operating increase or (decrease) |
$ (4,208) |
$ (12,361) |
The May income was about $13,060 above what we had budgeted. This was primarily due to donations for operations being up. We also had large gifts for other specific projects (such as the rebuilding of our piano, landscaping, the Clergy Housing Fund and the Associate Support Fund). However, the value of our investments went down by about $6,900. Our total income for the month was about $55,182.
Our property expenses were about $2,630 over budget which was primarily due to some unexpected landscaping that needed to be done.
The expenditures for Ministry were about $5,570 over budget which was primarily due to the initial payment being made on the rebuilding of our piano.
Our total expenses were about $59,390, which was about $4,208 more than our income. This leaves us about $12,361 behind for the year (this is very close to what our budget called for).
It is very close to the middle of the year, so I will be preparing donation statements that will show you how you are doing in relation to your pledge and also serve as verification that our books are correct. Look for them soon!
Your Treasurer,
Arthur Kassebaum
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