Category: Financials – 2019

Treasurer

09-16-2019

The financials for August 2019 are attached.

Church Mortgage balance as of August 1, 2019 was $174,630.05.

At the end of August monies available for A/C upgrades and/or Building reduction totaled:

Bldg Fund – $18,120
Major Bldg Repairs – $ 9,868
Capital Fund – $ 2,670
TOTAL $30,658

Income in the General Fund in August was not enough to cover August expenses. However, a surplus from earlier months covered this loss.

The Altar Fund is in a negative position for the first time this year. Money from the General Fund (Worship:Florist) was used to cover this loss.

Pam Brosonski conducted an audit of the finances this month. A report will be forthcoming. One major deficiency she noted involved improper procedures in counting weekly offerings: two people are required to count funds each week, funds must be counted on church premises, and signatures affirming the deposits need to be on deposit summaries.

The deficiencies noted above were corrected as of September 8 2019.

A meeting to discuss the 2019 budget will be held on Thursday, September 26 at 6:30 pm at the church.. Larry Holihan, Tina Crawn, Pam Brosonski, Joe Montfort, and Marie Johnson are on the budget committee. The meeting is open to council members who may want to attend.

Treasurer Report 2

08-19-2019

Sorry, forgot to attach July financials to Treasurer’s report.

Treasurer

08-19-2019

Pam Brosonski will audit the church financials in the next few weeks.

The Capital Campaign to raise $150000 started on August 1. The goal is to raise this amount by the end of 2020, eliminate the church mortgage, and pay for remaining air conditioner upgrades.

As of this date about $13,000 has been designated toward this goal. Some of the money was raised prior to the August 1 start date.

As of yet, we have not yet seen savings from the energy reduction projects (e.g. outdoor lighting, led lights, new a/c, etc.). Usage seems on a par with last year. It is difficult to ascertain if any additional usage is due to hotter weather this summer.

We need to come up with a plan to obtain more counters. Counting should be accomplished in a group of at least two members and counting conducted on the church site.

Treasurer

07-25-2019

Attached are Financials for June 2019

Treasurer

06-16-2019

Financials for May 2019 are attached.

A substantial contribution for the General Fund was received this month. This contribution puts us in line with achieving our proposed income for the year.

The kickoff for the Mortgage Reduction effort will begin the first week in July with a bulletin insert and introduction during announcements. The goal will be to raise $150,000, but over $20,000 raised by the start date.

Need to get financial plan to replace a/c units as they fail.

Need to determine how garage project will be financed.

Note that Raymond James investments showed a significant loss in May, but probably will substantially recover in June.

We are keeping up with payment of all liabilities.