Financial Report May 2017

May 2017 May 2016 May YTD 2017 YTD Budget May WTD 2016
Local Contributions $20,066 $22,745 $101,950 $106,000 $107,901
Other Income $9,795 $10,545 $26,854 $26,097 $27,682
Total Income $29,860 $33,290 $128,804 $132,097 $135,583
Office & Admin $766 $4,106 $6,504 $7,750 $9,510
Building $3,501 $4,523 $20,179 $20,786 $22,139
Ministries $926 $430 $3,043 $4,938 $3,759
Salary & Benefits $20,961 $21,751 $102,418 $103,380 $101,620
Presbytery/Conf $1,660 $1,500 $8,301 $8,300 $7,610
Other Expenses $743 $1,335 $4,572 $4,723 $4,452
GST $154 $324 $407 $625 $1,073
Total Expenses $28,711 $33,970 $145,425 $150,502 $150,163
Net Income $1,149 ($680) ($16,621) ($18,405) ($14,580)

Comments:

Income:

Local Contributions declined in May relative to April and relative to last year. The reduced Local Contributions were offset by Garage Sale and Pie Sale income, although revenue from those events was somewhat below last year.

 

Expenses:

Total Expenses in May were well below 2016 primarily because of one-time computer expense last year and phasing of photocopier expenses to June this year. Year-to-date expenses continue to track below budget and below last year, although there is some phasing of building and office expenses that will show up in June.

 

Net Income: Our Net Income was positive in May because of the revenue from the Garage Sale and Pie Sale. Year-to-date Net Income is negative $16,621 which is $2,041 more negative than last year at this point but is $1,784 better than budget. May’s positive Net Income is encouraging, however the trend of decreasing Local Contributions is concerning despite lower expenses and strong Other Income.

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