From the Treasurer

Hello friends ~
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Beginning in June, All Saints began to see the negative financial impacts of current events. Due to a strong cash position we are able to meet our current financial needs but we are seeing a drop in giving in June that has also carried over to July. We are planning to send semi-annual pledge reports out in the next few weeks. 

Please find the June financial reports below. As previously reported, All Saints did receive $30,670 in assistance from the CARES ACT Paycheck Protection Program so we continue to keep our Rector, Youth Minister, Secretary, and both Sextons employed with the same rates and hours they earned prior to March 2020. 

Pledges for June were $10,878 versus the budgeted amount of $18,333 or (41%) less than planned. 
 
Ministry expenses, at $3,300, were less than the budgeted amount of $3,868 due to incurring less LU scholarship payments than planned for in the budget.  
 
Minister expenses at $13,083, were less than the budgeted amount of $15,840 due to the reduced need for our musician and nursery teams and timing of pay periods. Please know that our Rector, Youth Minister, Parish Secretary, and two Sextons are still receiving their full pay. 
 
Facility costs came in at $3,626 compared to the budgeted amount of $6,258 due to lower than planned costs associated with boiler maintenance and less than average utilities costs from lower gas usage in the spring. The utility and boiler costs are typically seasonal.
 
Operation costs came in at $1,621, compared to the budgeted amount of $1,198, causing an unfavorable variance due to ordering maintenance supplies. The last maintenance supply order was in March 2020. 

The decrease in giving caused a ($10,075) deficit (more outgoing cash for bills, payroll, and expenses than income cash from giving). YTD All Saints now has a deficit of ($3,437). We estimated the deficit to be ($25,822) so we are still outperforming expectations.  

Peace,
Alicia Bayambang

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