Finance
Report
Below is a brief finance summary report as of October 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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October 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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59,951.25
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57,500.00
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2,451.25
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Memorial Offerings*
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6,310.00
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0
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6,310.00
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Events
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25,082.70
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13,750.00
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11,332.70
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Other
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1,947.57
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2,155.43
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-207.86
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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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93,782.28
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3,655.43
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20,126.85
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Expenses
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117,644.05
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112,822.09
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4,821.96
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Net Income (Loss)
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-23,861.77
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-39,166.66
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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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October 31, 2024, YTD Net Loss of $23,861.77, 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 $20,126.85 (Includes Memorial Offerings)
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General Offerings above budget by $2,451.25.
- Events above budget by $11,332.70
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Expenses over budget by $4,821.96
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 - $127,237.95 (Unrestricted Funds $71,850.56 + Restricted Funds $55,387.39)
Mission & Services
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Annual 2023 Target - $13,000
- October 31, 2024 - $10,890.00 versus YTD target of $10,833.00
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