By the Numbers
Revenue & Expense Statement
Summary: As a reminder, the income cycle of a church is cyclical and seasonal. In the past, to reach the end of the year on budget, it was expected that at least 60% of the pledge income would be received in the first six months. So far pledge income is about 56% of total pledged (vs. 58% in FY 2015-16 and 61% in FY 2014-15). However, the increase in auto-draft contributions in the past couple of years has leveled out some of large ups and downs around giving patterns, so this 60% estimation model may not hold true in the same way.
Net operating total YTD: +57,558, which is ahead of FY 2015-16 (+$41,574), yet less than FY 2014-15 (+$74,953).
Total income (which includes rental income, plate contributions, and prior year pledges) is ahead of the pace set last year.
On the expense side, expenses are basically on or under budget in most areas.
A couple of items to note:
- Staff transitions (Asst. Minister, Bookkeeper) may result in fluctuations in personnel expenses.
- Rental income is trending higher due to multiple new contracts (Board of Elections, several conferences, and many smaller events).
- Mortgage payment: $1,419/month. Balance on mortgage: $115,860.
- Deferred Maintenance Fund: $46,633.
- General Reserve Fund: $52,702.
The overall financial picture looks solid. Income is steady after a slow start to the fiscal year. We are exploring new automated mechanisms for receiving contributions that will make it easier for the user and for our own accounting processes. Hopefully this will be in place for the upcoming stewardship campaign. The level of participation, attendance and programming is very strong. Building use by ERUUF groups and renters continues to higher than ever. There are already 4 weeks of camps booked for the summer. The cultural mood is uncertain from the election, which has brought more visitors to campus but this situation also warrants caution when making financial projections for this fiscal year and beyond.
Vital Signs: Dashboard figures of key participation levels.
(document by Daniel Trollinger, Director of Administration)