March 2016 Financials Balance Sheet: There was a decrease of about $7K. The following is the breakdown by area: Monthly Operations -$8.0K (explained below) Moms Morning Off +$0.3K (explained below) Funds +$2.0K o Investment increases in the Endowment and Columbarium Funds ($4.2K) o Property Repairs (-$2.3K) Prepaid Pledges -$2.4K Significant activity from funds were as follows; Benevolence (+$0.8K), Outreach (+$0.4K), Rector Discretionary (-$0.8K) Monthly Operations: Overall there was a deficit of $8K this month versus a budgeted deficit of -$1.1K. Income was under budget by $1.4K primarily because pledge income was lower than budgeted. Expenses were over budget by $5.6K. The largest overage was personnel (-$3.6K). This was a three payroll month and we made a quarterly health insurance payment for the rector. ). The personnel overage would have been larger except for the fact that we have budgeted for our new assistant and he hasn’t started yet. We also made a quarterly insurance payment of $2.8K (budget is $1.1K/month). The other overage ( $2.1K) was in property maintenance (grounds, organ maintenance, and property repairs) The YTD balance is a +$18.2K versus a budgeted -$3.2K. Things are looking good. MMO: MMO had a small surplus of $300. That’s even with a 3 payroll month. Enrollment is at 40 children with 10 teachers, this means everything is running at full+ capacity. The YTD balance is a positive $6.8K. St Barnabas Financials as of March 31, 2016 Mar 16 Actuals
Monthly $ +/Budget Budget
JanMar Actuals
YTD Budget
$ +/Budget
Annual Budget
Income Expenses: Staff Operating Ministry Apportionment
38,796
40,230
-1,434
136,583 120,690
15,893
482,750
30,307 9,226 1,891 5,381
26,685 6,449 2,778 5,381
3,622 2,777 -887 0
73,062 20,710 8,498 16,143
80,055 19,347 8,334 16,143
-6,993 1,363 164 0
320,199 77,400 33,350 64,572
Total Expenses
46,805
41,293
5,512
118,413 123,879
-5,466
495,521
Net Income
-8,009
-1,063
-6,946
18,170
21,359
-12,771
-3,189