Financial Report February 2017

Feb 2017 Feb 2016 Feb YTD 2017 Feb YTD 2016
Local Contributions $19,508/td> $21,199 $40,884 $43,265
Other Income $2,605 $4,986 $5,672 $7,321
Total Income $22,113 $26,185 $46,556 $50,586
Office & Admin $2,410 $1,286 $2,790 $1,750
Building $4,986 $4,046 $7,782 $9,294
Ministries $529 $673 $781 $1,159
Salary & Benefits $18,712 $21,716 $39,607 $40,150
Presbytery/Conf $1,660 $1,500 $3,321 $3,110
Other Expenses $1,659 $1,149 $2,320 $1,835
GST ($314) $214 ($224) $331
Total Expenses $29,643 $30,585 $56,377 $57,628
Net Income ($7,530) ($4,400) ($9,821) ($7,042)

Comments:

Income:

Local Contributions were down from last year for February and year to date. This is following the trend we have seen in recent years of declining local contributions. Total Income was also down due to phasing of rental income.

 

Expenses:

Total Expenses were down over last February and year to date primarily because of phasing and the GST rebate from 2016 received in February.

 

Net Income: Our Net income year to date is negative $9,821. This is approximately $2,800 greater than last year at this point. No large unexpected variations from the budget approved at the March 5 annual meeting.

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