Treasury Report November 2011
In November, 2010, after five months or 41.7% of the fiscal year, we have received $268,862 in revenues, which equals about 50% of the revenue receipts budgeted for the year. Total revenues after five months are about 3% higher than last year. After five months we have received 49% of the amount budgeted for pledge receipts for the year. Total current year pledge payments after five months are about 1% higher than at the same time last year.
With respect to other revenue sources, we have now received a total of $4,009 in building user fees, which is 79% of the amount budgeted for the year. Total fund raising income now amounts to $17,971 or 78% of the amount budgeted for the year. Of that amount, $8,051 was received in November, due to the November church auction.
After five months, our total expenses amount to $190,124, which is about 35% of the amount budgeted for expenses. After five months, our total expenses are about 11% lower than last year. As a result, our reported net income is $78,738. However, for just the month of November, expenses exceeded revenues by $5,859. This is the first month in which expenses did exceed revenues.
Overall, our church appears to be in good financial shape, at least after the first five months of the year. However, it is still quite early to have a clear picture of how the year will end up.
Each month the Finance Committee and the Board of Trustees receive income statements and a balance sheet. Copies of these reports are also available for review in the Church Office.