Finance
Report
Below is a brief finance summary report as of December 31, 2024, versus the year-to-date 2024 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
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Dec. 31, 2024
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YTD Budget
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Over/Under Budget
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Income
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General Offerings*
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78,444.28
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69,000.00
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9,444.28
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Memorial Offerings*
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7,260.00
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0
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7,260.00
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Events
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28,408.70
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16,500.00
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11,908.70
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Other
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2500.71
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2,586.51
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-85.80
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Investment Income
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490.76
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250.00
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240.76
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Total Income
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120,287.30
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88,386.51
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31,900.79
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Expenses
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139,507.40
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135,386.51
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4,120.89
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Net Income (Loss)
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-19,220.10
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-47,000.00
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Net Loss Covered By: Cash – General Account + Investment Transfers
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* Includes online donations
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Summary
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Dec. 31, 2024, YTD Net Loss of $19,220.10, under budget
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YTD Net Loss covered by - Cash from General Account + Investment Transfers
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Income above budget by $31,900.79 (Includes Memorial Offerings)
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General Offerings above budget by $9,444.28.
- Events above budget by $11,908.70
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Expenses over budget by $4,120.89
Investments
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Investment transfers currently at a monthly withdrawal of $1,500
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Investment transfers YTD to meet/cover loss - $15,000
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Investments closing balance as of October 31, 2024 - $ 122,931.11 (Unrestricted Funds $67,543.72 + Restricted Funds $55,387.39)
Mission & Services
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Annual 2024 Target - $13,000
- Dec. 31, 2024 - $13,396.10
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