Financial Report November 2016

Nov 2016 Nov 2015 Nov YTD 2016 YTD Budget Nov YTD 2015
Local Contributions $21,478 $22,799 $235,945 $233, 356 $237,754
Other Income $18,249 $15,355 $61,979 $60,643 $65,877
Total Income $39,726 $38,154 $297, 925 $293,998 $303,631
Office & Admin $1,991 $686 $17, 536 $18,242 $16,383
Building $2,839 $4,162 $43,995 $49,544 $45,979
Mortgage 0 0 0 0 $697
Ministries $1,843 $1,636 $9,871 $10,038 $12,629
Salary & Benefits $19,186 $18,155 $229, 166 $217, 046 $180,000
Presbytery/Conf $0 $1,520 $15,110 $16,601 $16,754
Other Expenses $603 $1,352 $8,477 $11,385 $13,862
GST $210 $200 $2,248 $0 $849
Total Expenses $26,673 $27,711 $326,404 $322, 855 $287,152
Net Income $13,054 $10,443 ($28,479) ($28,857) $16,480
Net Inc. (adjusted) ($20,907)*

*Net income after Salary Expense adjustment for Student Grant (+$9,072) and Presbytery phasing (-$1,500)

Comments:
Income:
November Local Contributions were down slightly from last year for November and year to date. Other Income is up from last year because of the success of the Turkey Supper and Silent Auction. Total Income continues to be behind last year. We will need strong December givings to narrow that gap.

Expenses:
On a year-to-date basis Total Expenses are up $31,680 over last year after adjustments for known income and expenses that were shifted to December. Higher expenses are due to our Salary and Benefit costs per our approved 2016 budget. Expenses other than salary are down $8,414 compared to 2015 and down $7,071 relative to the 2016 budget,

Net Income: After adjustments our Net income is negative $20,907 This is less of a net income loss than anticipated by the budget for this point in the year but will require strong December givings to be in balance at year end.

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