from the treasurer
Hello from the inside ~
Happy Easter! I hope this newsletter finds you and your family well. Thank you for your amazing support of All Saints during this difficult time. We are meeting our current financial needs despite the 'safer at home' situation. April is also looking healthy financially.
Please find the March financial reports below.
Major financial related activities that occurred in March include the following:
Pledges for March are $17,958, versus the budgeted amount of $18,333.33. YTD Pledges are $21,429 over budget. Thank you for your continued support.
Ministry expenses, at $3,442, are less than the budgeted amount of $4,012 due to incurring less Chorister scholarship payments than planned for in the budget.
Minister expenses at $14,702, are less than the budgeted amount of $16,692 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 $5,635, compared to the budgeted amount of $6,258, due to lower than planned costs associated with boiler maintenance and higher than average utilities costs from higher gas usage in the winter. The utility and boiler costs are typically seasonal and will even out in future months.
Operation costs came in at $1,634, compared to the budgeted amount of $1,728, causing a favorable variance of $201, due to lower than expected office expenses and snow removal needs.
Overall, we had a steady month and ended with a deficit (more outgoing cash for expenses than incoming cash from contributions) of -$6,823. A deficit was expected for March and we thought it would be a larger amount so we continue to outperform our budget. The YTD surplus is now +$1,922. All Saints is currently meeting out financial needs and exceeding what we expected when the 2020 budget was planned.
Thank you for your dedication and commitment as we celebrate Christ together in a new way.
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