Dorchester United Church

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
Dorchester United Church
Year To Date Profit & Loss Actual vs Budget

August 31, 2023    8/12 Budget    Over/Under Budget  
Income 


Offerings*  44,552.84   43,474.00   1,078.84  
Events  16,058.75   6,400.00   9,658.75  
Other   253.28   866.67   -613.39  
Investment Income   1,328.28   2,078.32   -750.04  
Total Income   62,193.15   52,818.99   9,374.16  
Expenses   71,073.53   69,018.99   -2,054.54  
Net Income (Loss)   -8,880.38   -16,200.00  
Reinstated Transfers to meet loss  

14,500.00  



* Includes online donations



Summary

  • August 31, 2023, YTD Net Loss of $8,880.38, under budget
  • Income above budget by $9,374.16
  • 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)
  • Expenses over budget by $2,054.54

Investments

  • Investment transfers currently at a monthly withdrawal of $1,500
  • Investment transfers YTD to meet/cover loss - $14,500
  • Investments closing balance as of March 31, 2023 - $137,328.24 (Restricted Funds $55,387.39)

Mission & Services

  • 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
Total Refugee Fund Program receipts recognized August 31, 2023   $23,686.24  
Total Refugee Fund Program expenses August 31, 2023   $23,686.24  
Net impact to Dorchester United Church   $-