SOTH Council Monthly Committee Report

Committee Name

Treasurer

Report Date

01-19-2020

Items Discussed

Thanks to strong income in December, we ended the year spending about $4,000 less than our income for the year in the General Fund.

Mortgage balance at the end of the year was $164,518.05 with a reserve of $16,633 .72 in the Building Fund

Raymond Jones achieved an appreciation of $18,430.66 for the year in the investment fund.

The Raymond Jones scholarship fund showed a lower balance than at the beginning of the year, due to a withdrawal of $3,000 from the fund.

Both Raymond Jones funds continued to appreciate in December, due to the strong stock market performance.

The capital fund ended the year with a balance of $49,408 (almost $52,000 as of Jan 19, 2020).

The major building repairs fund had a balance of $14,305.12 at the end of December. Currently, the fund is appreciating about $1500 a month from receipts for the cell tower lease.

All outstanding bills were paid as of December 31, and we enter the new year with no outstanding liabilities other than our monthly mortgage payment. We enter the new year with a balance of $44,809.53 in our operating fund, an increase of about $4,500 over the beginning of the year.

The 2019 Year in Review brochure has been completed and will be distributed the week of the Congregational Meeting. The yearly Treasurer’s report has been included in the 2019 annual report.

Recommendations/Action

The council should consider taking about $20-25K from the Capital Fund toward mortgage reduction.

I have enjoyed serving as your Treasurer for the past few years. I appreciate all the cooperation I have received from members and council. My special thanks to Tina for her support and cooperation during my tenure.

December financials are attached to this report.

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