In sharp contrast to November, December’s pledge income exceeded our monthly budgeted amount by more than $10,800, including $250 in prior year pledges. Current year pledges received this fiscal year total 44.7% of budgeted amount, or 57.2% of budget when prepaid pledges are included. The December target was 50.0%. Other recurring income was $804 in December, bringing our current year total to 62.7% of budgeted amount. Total budgeted income for the fiscal year is at 44.8% of budget, or 5.2% below target.

Collectively, year-to-date budgeted expenses continue to be well under budget. Building and Grounds was slightly, or 0.4%, above target. Office Administration and Music were 4.0% and 1.2% below budget, respectively. Monthly budgeted expenses for Religious Exploration and Minister were at 91% and 90% of budget, respectively. In a reversal of November’s results, budgeted income exceeded expenses by $5,556 for December. Year-to-date expenses exceeded income by $20,042.

Over a period of many years undetected errors in fund accounting, overstating mainly the Reserve Fund, resulted in a significant understatement of the Unrestricted Net Assets account on our balance sheet. In December the balance in the Unrestricted Net Assets account was adjusted to its correct value by transferring $18,077.05 from the Reserve Fund. This transfer was approved by the Finance Committee in its December meeting.

The transition from donation collection using Vanco to PayPal and Venmo was completed in December.
December’s $62.4K increase in the Endowment Fund resulted in a $53.3K increase in value for the fiscal year, bringing the current balance to $1.28 million.

In addition to the operating budget, the December collections of at least $100 were:

Church funds
∙ Minister’s Discretionary Fund $421.00

Outreach charity
∙ Manna on Meridian $1,109.00
∙ Second Harvest $105.00

Respectfully submitted,
Ron Clark
Disbursing Treasurer