Financial Summary | July-August 2022 (FY 22-23)

Oct 28

Income

• Actual: $197,465

• Planned: $240,000

• Note: Average needed for budget

Operational Expense

• Actual: $182,215.38

• Planned: $214,110.00

Net Income

• Actual: -$15,033

• Planned: $21,000

Net Change in Cash from Start of Year

• -$25,359

Cash Assets

• Actual: $938,688

Last Year: $1,035,084

Remaining Mortgage

• Actual: $550,975.99

Commentary

• Income

• Overall giving is in line with July and August of 2021

• We need to pace $120,000 per month to meet budget and we are about $23,000 behind that year to date

• Expenses well controlled so far

• Capital Expenditures

• $6200 to Bartingale for heat pump modifications

• $7695 for new printer

Appendix

• Revenue = Giving + other income

• Ordinary Income = Revenue – Expense

• Net Income = Ordinary Income - Depreciation - Interest

• Net Cash Increase = Net Income + Depreciation – Current Liabilities – Mortgage Principal Payments

October, 2022 - Deacon Meeting Minutes