Dorchester United Church

Finance Report

Below is a brief finance summary report as of August 31, 2022, versus the year-to-date 2022 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

August 31, 2022  8/12 Budget  Over/Under Budget
Income


Offerings* 38,528.86 51,383.33 -12,854.47
Events 3,975.30 1,000.00 2,975.30
Other 4,991.27 866.67 4,124.60
Investment Income 1,398.46 1,130.00 268.46
Total Income 48,893.89 54,380.00 -5,486.11
Expenses 63,915.62 68,140.78 -4,225.16
Net Income (Loss) -15,021.73 -13,760.78
(Reinstated)YTD Investment Transfers to meet/cover loss

24,000.00



* Includes online donations



Summary

  • August 31, 2022, YTD Net Loss of $15,021.73
  • Income is below budget by $5,486.11
  • Offerings are below budget by $12,854.47
  • Other income is above budget due to COVID government assistance

Investments

  • Investments transfers have been reinstated at a monthly withdrawal of $3,000 retroactive to January 2022.
  • Investment transfers YTD to meet/cover loss - $24,000
  • Investments closing balance as of August 31, 2022 - $152,044.01

Mission & Services

  • Annual 2022 Target - $13,000
  • August 31, 2022 - $8,808.29 versus year-to-date budget of $8,666