Treasurers report for End of August 2011
After two months or 16.7% of the fiscal year, we have received total revenues of $137,357 which represents 24% of the revenue budgeted for the year. Total revenues for the first two months of this fiscal year were approximately 11% higher than the revenues received in the same period last year.
Our current year pledge payments after two months equal 21% of the amount budgeted for the year, but nevertheless are about 7% lower than in the same period last year. After two months, we have also received 49% of the amount budgeted for the year from unpledged donations. In August we received $8,650 in fundraising income from the yard sale and the special book sale. Our total revenues for August alone were $40,945.
After two months our total expenses were $108,854, which represents 19% of our annual budgeted expenses. For the month of August our total expenses were $65,014. As a result, for just the month of August our expenses exceeded our revenues by $24,079. However, the total revenues for the first two months of the year exceeded our expenses by $28,503.
In August, the long term total liabilities (or debt) of the church was reduced by $20,000 from $182,510 to $162,510, as a result of the redemption of a member bond.
As I stated last month, it is still too early to make any projections about our church’s financial condition during the remainder of the year, but we appear to be in reasonably good financial shape.
Doug Webbink, Treasurer