Dorchester United Church

Finance Report

Below is a brief finance summary report as of May 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

May 31, 2022  5/12 Budget  Over/Under Budget
Income


Offerings* 24,633.01 32,114.58 -7,481.57
Events 40.35 625.00 -584.65
Other 4,401.71 541.67 3,860.04
Investment Income 660.83 706.25 -45.42
Total Income 29,735.90 33,987.50 -4,251.60
Expenses 40,653.77 42,587.99 1,934.22
Net Income (Loss) -10,917.87 -8,600.49
(Reinstated)YTD Investment Transfers to meet/cover loss

15,000.00



* Includes online donations



  • May 31, 2022, YTD Net Loss of $10,917.87
  • Income is below budget by $4,251.60
  • Offerings are below budget by $7,481.57
  • 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 - $15,000
  • Investments closing balance as of May 31, 2022 - $163,282.93

Mission & Services

  • Annual 2022 Target - $13,000
  • May 31, 2022 - $5,672.44 versus year-to-date budget of $5,416.67