Financial Report for June 30, 2016

As we finished the first half of the year, income is 10% ahead of plan.  This is largely due to members being ahead of their pledges, which is very much appreciated.  Contributions outside of pledging are also on pace with the budget plan.  Additionally, the staff and committees continue to be very focused on spending within budget as we are at 96% of the plan.  All of this thoughtful planning, execution and prayerful giving is delivering a wonderfully spiritual year for our church.

June 30, 2016                YTD Actual                           YTD Budget

 Income                           $377,761.20                        $342,674.00          

As we finished the first half of the year, income is 10% ahead of plan.  This is largely due to members being ahead of their pledges, which is very much appreciated.  Contributions outside of pledging are also on pace with the budget plan.  Additionally, the staff and committees continue to be very focused on spending within budget as we are at 96% of the plan.  All of this thoughtful planning, execution and prayerful giving is delivering a wonderfully spiritual year for our church.

June 30, 2016                                     YTD Actual                           YTD Budget

                                Income                 $377,761.20                        $342,674.00

                                Expenses               $336,315.33                       $349,219.00

If you recall, our plan for 2016 recognized that expenses would exceed income. It is still the opinion of your Finance Committee that we will finish the year with $40K less in working capital (savings) to cover the 2016 budget.  The Session approved this budget after making significant reductions, knowing that even with this use of working capital this year only, we are still financially strong as a congregation and we will discover if further action will be needed for 2017.

Thank you for your continued prayerful giving.  If you have any questions, please contact Pat Dean or Patty Hussey at the church office.