Financial Report March 2017

Mar 2017 Mar 2016 Mar YTD 2017 YTD Budget Mar WTD 2016
Local Contributions $18,970 $19,621 $59,855 $66,550 $62,887
Other Income $6,668 $6,464 $12,340 $11,028 $13,785
Total Income $25,638 $26,085 $72,195 $77,578 $76,672
Office & Admin $2,203 $1,912 $4,993 $4,750 $3,662
Building $4,960 $4,092 $12,741 $12,382 $13,386
Ministries $436 $530 $1,217 $2,963 $1,689
Salary & Benefits $22,532 $22,677 $62,140 $60,028 $62,827
Presbytery/Conf $1,660 $1,500 $4,981 $4,980 $4,610
Other Expenses $907 $652 $3,227 $2,714 $2,488
GST $287 $125 $63 $375 $600
Total Expenses $32,985 $31,633 $89,362 $88,191 $89,261
Net Income ($7,346) ($5,548) ($17,167) ($10,613) ($12,590)

Comments:

Income:

Local Contributions continue to fall below last year and below what was anticipated in the budget. This continues to be a trend we have seen in recent years of declining contributions from Sunday collection and through PAR. Other Income is a little higher than budget but this does not offset the decline in Local Contributions. Total Income is $4,477 below last year.

Expenses:

Total Expenses year-to-date are very close to last year and slightly above budget. Building expenses were higher in March this year because of more severe winter weather. Some phasing in Other Expenses caused that account being higher than last year.

Net Income: Our Net income year-to-date is negative $17,167. This is approximately $4,600 more negative than last year at this point and $6,554 more negative than budget. With expenses reasonably close to what was expected, the increasingly negative Net Income is primarily a Local Contributions concern.

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