Financial Report December 2016

Dec 2016 Dec  2015 Dec  YTD 2016 YTD Budget Dec YTD 2015
Local Contributions $33,707 $38,937 $269,652 $269,570 $276,691
Other Income $4,617 $6,330 $66,596 $63,835 $72,207
Total Income $38,324 $45,267 $336,249 $333,405 $348,898
Office & Admin $1,680 $3,108 $19,216 $19,900 $19,491
Building $5,637 $5,017 $49,488 $54,048 $50,996
Mortgage 0 0 0 0 $697
Ministries $390 $989 $10,261 $10,950 $13,617
Salary & Benefits $9,212* $18,543 $238,378 $236,777 $198,543
Presbytery/Conf $3,000 $1,520 $18,110 $18,110 $18,274
Other Expenses $701 $1,152 $9,178 $12,420 $15,014
GST ($1,083) $352 $1,158 $1,500 $1,201
Total Expenses $19,538 $30,681 $345,789 $353,705 $317,832
Net Income $18,786 $14,586 ($9,541) ($20,300) $31,066

*Salary Expense includes adjustment for Student Grant (+$9,072) received in December

Comments:

Income:

December Local Contributions were significant but still down from last year for December and year to date. Total Income was slightly higher than budget but below last year.

Expenses:

Over the year Total Expenses were up $27,957 over last year primarily because of higher salary expenses per our approved 2016 budget. This was partially offset by lower expenses in building costs, Ministries and other expenses.

Net Income: Our Net income for the year is negative $9,541. This is significantly less of a net income loss than anticipated by the budget and reflects somewhat higher income and lower expenses than anticipated by the budget.

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