Finance
Report
Below is a brief finance summary report as of August 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
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Dorchester United Church
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Year To Date Profit & Loss Actual vs Budget
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August 31, 2023
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8/12 Budget
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Over/Under Budget
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Income
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Offerings*
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44,552.84
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43,474.00
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1,078.84
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Events
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16,058.75
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6,400.00
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9,658.75
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Other
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253.28
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866.67
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-613.39
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Investment Income
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1,328.28
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2,078.32
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-750.04
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Total Income
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62,193.15
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52,818.99
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9,374.16
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Expenses
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71,073.53
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69,018.99
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-2,054.54
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Net Income (Loss)
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-8,880.38
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-16,200.00
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Reinstated Transfers to meet loss
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14,500.00
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* Includes online donations
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Summary
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August 31, 2023, YTD Net Loss of $8,880.38, under budget
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Income above budget by $9,374.16
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Offerings above budget by $1,078.84
- Events above budget by $9,658.75 (Note: February 2023 Thorndale Agricultural Dinner Theatre
Event was not in the 2023 budget)
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Expenses over budget by $2,054.54
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 - $14,500
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Investments closing balance as of March 31, 2023 - $137,328.24 (Restricted Funds $55,387.39)
Mission & Services
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Annual 2023 Target - $13,000
- May 31, 2023 - $8,776.10 versus YTD target of $8,666.67
| Refugee Fund Program Update August 31, 2023 |
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Total Refugee Fund Program receipts recognized August 31, 2023
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$23,686.24
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Total Refugee Fund Program expenses August 31, 2023
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$23,686.24
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Net impact to Dorchester United Church
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$-
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