Our Financial Secretary, Steve Smith, provides monthly reports to the Congregation Council – contents of which are available through financial reports made available in the church hallway and hard copies of the Council Meeting minutes. In addition, we are providing this same information here on the website. The spreadsheet below provides the actual financial information so far this year. Prior years’ information was available in the Annual Report that you would have received in January.
| May 2021 | Year to Date | |
| Total Contributions and Income for Budgeted Items | $11,276 | $56,979 |
| Expenses | ($5,394) | ($78,053) |
| ActualSurplus/Deficit | $5,882 | ($18,420) |
| Transfer from Keeping God’s House | $1,359 | $10,654 |
| Adjusted Surplus/Deficit | $7,241 | ($6,406) |
Total Contributions and Income for Budgeted Items during May totaled $11,276. This represents a decline of $2,185 versus April contributions. Contributions to the Crossroads Food Pantry (Food Bank) were $145. Contributions to Keeping God’s House during May totaled $1,650. On a Year-to-Date basis, we have now received $13,975 in contributions to Keeping God’s House.
During May, our recorded expenditures totaled $5,394. These expenditures, coupled with our May receipts, generated a surplus of $5,882. Normally, a surplus of any amount would be something to celebrate. However, we need to look a little behind the scenes for this one. During May, we utilized $12,952 in PPP Loan funds to pay our Payroll, Electricity, Natural Gas, Water, Sewer, Telephone, and Internet Connection invoices. If these expenditures would have been recorded through the normal channels, our $5,882 surplus would have been reversed to a $7,070 deficit. At the current rate, the PPP Loan account should be exhausted at the end of June.
On a Year-to-Date basis, our expenditures have totaled $78,053 during 2021. When compared to our Total Contributions and Income for Budgeted Items of $59,633, it generates a significant deficit of $18,420.
The transfer of $1,359 from Keeping God’s House to cover our church utility bills and maintenance costs improved our monthly surplus to $7,241. After five months, we have now transferred $12,014 of Keeping God’s House funds to cover church utility bills and maintenance costs. Our Year-to-Date deficit after application of Keeping God’s House funds stands at $6,406.