Dorchester United Church

Finance Report

Below is a brief finance summary report as of October 31, 2023, versus the 2023 budget.

If anyone has any questions regarding the report below, please contact the chair of the Finance Committee, Brenda Olejnik (519-268-3385). The questions will then be shared with the rest of the Finance Committee, and as a group they will respond accordingly.

Dorchester United Church
Year To Date Profit & Loss Actual vs Budget
Dorchester United Church
Year To Date Profit & Loss Actual vs Budget

August 31, 2023    8/12 Budget    Over/Under Budget  
Income 


Offerings*  55,887.34   54,342.50   1,544.84  
Events  18,478.09   8,000.00   10,478.09  
Other   756.92   1,083.33   -326.41  
Investment Income   1,788.10   2,597.90   -809.80  
Total Income   76,910.45   66,023.73   10,886.72  
Expenses   90,370.10   86,273.73   -4,096.37  
Net Income (Loss)   -13,459.65   -20,250.00  
Reinstated Transfers to meet loss  

17,500.00  



* Includes online donations



Summary

  • October 31, 2023, YTD Net Loss of $13,459.65, under budget
  • Income above budget by $10,886.72
  • Offerings above budget by $1,544.84
  • Events above budget by $10,478.09 (Note: February 2023 Thorndale Agricultural Dinner Theatre Event was not in the 2023 budget)
  • Expenses over budget by $4,096.37

Investments

  • Investment transfers currently at a monthly withdrawal of $1,500
  • Investment transfers YTD to meet/cover loss - $17,500
  • Investments closing balance as of October 31, 2023 - $132,243.87 (Restricted Funds $55,387.39)

Mission & Services

  • Annual 2023 Target - $13,000
  • October 31, 2023 - $9,774.10 versus YTD target of $10,833.33