Financial Summary July-October 2022

Nov 21

Income

•Actual: $397,863

•Planned: $483,600

•Note: Average needed for budget

Operational Expense

•Actual: $419,156

•Planned: $475,659

Net Income

•Actual: -$81,717

•Planned: -$544

Net Change in Cash from Start of Year

•-$88,634

Cash Assets

•Actual: $875,413

•Start of Year: $964,047

•Last Year: $1,109,273

Remaining Mortgage

•Actual: $533,607

Commentary

Income

•Overall giving close to $100,000 below plan

•We need to pace $120,000 per month, with December at $240,000,

to meet budget. Lower than expected giving explains the net income loss.

•Operational expenses are well controlled through October

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

A Look Back at 2022