In March, for the third month in a row, pledge income exceeded the monthly budgeted amount, this time by $2,242. In order to reach our total budgeted pledge income for this fiscal year we will need to collect pledges at an average of almost $2,800 per month more than our monthly budgeted amount of $20,439. Since there is typically a large spike in pledge income after the spring Canvas drive, this goal appears to be within reach. Current year pledges received this fiscal year total 64.9% of the budgeted amount. When prepaid pledges are included, total current year pledges are at 80.5% of budget, compared to our target of 75.0%. Receipts for other recurring income of $1,451 brings our current year total to 107.9% of the budgeted amount. Successful fundraising activities raised $1,272 in March, bringing us to 57.2% of our target for the fiscal year. Total budgeted income for the fiscal year is at 72.9% of budget, or 2.1% below target.
Year-to-date expenses for Building and Grounds and Office Administration were 0.5% and 2.7% below target and for Music were 0.3% above target. Due to early year vacancies in the Religious Exploration and Minister positions, total year-to-date expenses continue to be well below target. Those vacancies were mainly responsible for the total of year-to-date budgeted expenses to be 7.1% below target. Budgeted expenses exceeded income by $868 in March and $31,528 year-to-date. Total expenses for several church funds was nearly $2,000 in March and included $1,250 taken from the Reserve Fund for tree work and $360 taken from the Music fund for the section leader.
March’s $33.2K increase in the Endowment Fund resulted in a $125.5K increase in value for the fiscal year, bringing the current balance to $1.354 million.
In addition to the operating budget, the March collections of at least $100 were:
Church funds
– Minister’s Discretionary Fund $200.00
Outreach charity
– ReThink Energy $115.50
– Grace Mission $232.00
– Indaba Theatre of Florida $212.50
Respectfully submitted,
Ron Clark
Disbursing Treasurer