SOTH Council Monthly Committee Report

Committee Name

Treasurer

Report Date

10-16-2019

Items Discussed

The Church Financials for September 2019 are attached. At the bottom of the report I have attached two charts: (1) The 2018-2019 electrical costs. As you can see the cost savings from a/c and LED replacements are starting to take effect; (2) The other chart displays the 2018-2019 general fund balances at the end of each month. Of note, is that a large contribution received in the April-May time period, allows us to keep our general fund in a positive position. Otherwise, our balance would be in a negative position.

Balances in other key funds as of September 30 are as follows:
Building Fund – $16,804
Major Building Repairs – $11,262
Capital Fund Drive – $20,614
TOTAL $48,686

Church Mortgage balance as of October 1, 2019 is $172,491.

The Finance Committee met on September 26 and October 10 to formulate a 2019 budget proposal. The proposal will be presented by Tina Crawn at the October council meeting with a proposed approval date at the November council meeting.

A new computer has been purchased for counters, as the old one is no longer working. Several individuals have volunteered to act as counters and are in the process of being trained. More volunteers are still needed.

Our Raymond James investment account is valued at $110,990 at the end of September compared to $97,697 at the beginning of this year.

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