Finance
Report
Below is a brief finance summary report as of March 31, 2024, versus the 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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Mar. 31, 2024
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3/12 Budget
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Over/Under Budget
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Income
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|
|
|
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Offerings*
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18,128.00
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17,250.00
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878.00
|
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Events
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6,288.00
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4,125.00
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2,163.00
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Other
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285.00
|
646.63
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-361.63
|
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Investment Income
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136.53
|
75.00
|
61.53
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Total Income
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24,837.53
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22,096.63
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2,740.90
|
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Expenses
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36,966.42
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33,846.63
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-3,119.79
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Net Income (Loss)
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-12,128.89
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-11,750.00
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Net Loss Covered By:
Cash – General Account
Investment Transfers
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-7,628.89
-4,500.00
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|
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* Includes online donations
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Summary
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March 31, 2024, YTD Net Loss of $12,128.89, over budget
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YTD Net Loss covered by - Cash from General Account 7,628.89 + Investment Transfers 4,500.00
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Income above budget by $2,740.90
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Offerings above budget by $878.00
- Events above budget by $2,163.00
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Expenses over budget by $3,119.79
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 - $4,500
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Investments closing balance as of March 31, 2024 - $129,085.32 (Restricted Funds $55,387.39)
Mission & Services
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Annual 2023 Target - $13,000
- March 31, 2024 - $3,260.00 versus YTD target of $3,250.00
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