The Church that Love Builds
Financial Report: October 2009
All reported figures are as of September 30, 2009
Report of Pledges and Envelope Income
Report of Unpledged Anticipated Giving & Loose Offerings
Report of Operating Expenses
Balance (all income less expenses)
($11,798)*
*69% of current reserves set aside to balance the 2009 budget
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Treasurer's Report
September Net Income was ($2,153) , ($486) on an adjusted basis. Adjusted Income of $40,274 was close to average for the year-to- date. Adjusted envelope income of $35,774 while encouraging after the disappointing months of June and July still lags the $37,008 average implicit in the Budget. Expenses of $40,761 continue to be below the monthly year-to-date and Budget averages reflecting the music position vacancy and lower than budgeted expenses for Commissions and Utilities.
Three categories of expenses are worth an explanation:
1. Building Maintenance expenses included an additional heating system repair charge and part of the cost of repairing electrical problems at the parish house.
2. Office expenses were high as the result of more than $1,000 in annual property tax charges on leased copier equipment.
Year-to-date Net Income was ($11,788), ($16,788) on an adjusted basis. This adjusted deficit is roughly equal to the $17,128 annual deficit contemplated in the 2009 Budget. Therefore, assuming that 4th quarter Net Income is at least breakeven, a likely event given past history, we will end the year on or better than Budget. It is important to note however that were it not for the music position vacancy and underspending of the Utilities and Commissions budgets this would not have been the case.
Observation: Loss of membership, the reduced Housing Corporation gift and economic uncertainty suggests that 2010 income will be less than that for 2009. While there should be almost $30,000 available at year end in the reserve fund, it would be prudent to now begin looking for ways to reduce our spending rate below that reflected in the 2009 Budget.
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Sources of Operating Income
2009 Budgeted Expenses
2009 Budget
Click here to download Emanuel's 2009 budget (pdf)
2008 Financial Report
Click here to download Emanuel's 2009 Year-end Fiscal Report
Report of Pledges and Envelope Income
| 2009 Pledged Income | $382,320 |
| Pledges Received to Date | $271,323 (71%) |
| Percent of Year Elapsed | 75% |
| YTD Shortfall | (15,417) |
Report of Unpledged Anticipated Giving & Loose Offerings
| Total Budgeted | $77,811 |
| Total Received to Date | $53,907 (69%) |
| Percent of Year Elapsed | 75% |
| YTD Shortfall | (4,451) |
Report of Operating Expenses
| Total Expense Budget | $540,559 |
| Total Expended to Date | $381,567 (71%) |
| Percent of Year Elapsed | 75% |
| YTD Under-expended | 23,852 |
Balance (all income less expenses)
($11,798)*
*69% of current reserves set aside to balance the 2009 budget
-----------------------------------------------
Treasurer's Report
September Net Income was ($2,153) , ($486) on an adjusted basis. Adjusted Income of $40,274 was close to average for the year-to- date. Adjusted envelope income of $35,774 while encouraging after the disappointing months of June and July still lags the $37,008 average implicit in the Budget. Expenses of $40,761 continue to be below the monthly year-to-date and Budget averages reflecting the music position vacancy and lower than budgeted expenses for Commissions and Utilities.
Three categories of expenses are worth an explanation:
1. Building Maintenance expenses included an additional heating system repair charge and part of the cost of repairing electrical problems at the parish house.
2. Office expenses were high as the result of more than $1,000 in annual property tax charges on leased copier equipment.
Year-to-date Net Income was ($11,788), ($16,788) on an adjusted basis. This adjusted deficit is roughly equal to the $17,128 annual deficit contemplated in the 2009 Budget. Therefore, assuming that 4th quarter Net Income is at least breakeven, a likely event given past history, we will end the year on or better than Budget. It is important to note however that were it not for the music position vacancy and underspending of the Utilities and Commissions budgets this would not have been the case.
Observation: Loss of membership, the reduced Housing Corporation gift and economic uncertainty suggests that 2010 income will be less than that for 2009. While there should be almost $30,000 available at year end in the reserve fund, it would be prudent to now begin looking for ways to reduce our spending rate below that reflected in the 2009 Budget.
-----------------------------------------------
Sources of Operating Income
2009 Budgeted Expenses
2009 Budget
Click here to download Emanuel's 2009 budget (pdf)
2008 Financial Report
Click here to download Emanuel's 2009 Year-end Fiscal Report
Last updated by Emanuel Lutheran Oct. 14, 2009.
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