April 2015 Financials Balance Sheet: There was a decrease of about $5K. The largest decrease for the month ($3K) was the general fund which is the monthly operating results (next item). There was also one large increase for MMO ($3.6K). There was a $1K expenditure from the Building fund to repair a water leak. Significant activity from other funds were as follows; Copier Fund (-$880), Dugat MMO Scholarship Fund (+$352), Daughter of the Kings Fund (+$613). Monthly Operations: There was a $3K negative result this month. This was due to income being under budget by $4K. Expenses were under budget by $1K, but because income was under budget the net for the month was negative. Income was lower than budgeted in pledge income. Payroll was over budget due to a quarterly payment of the rector’s pension. There will be no payment the next 2 months. There are non-budgeted expenses of $3K for web hosting ($1.2K for 5 years) and web programming ($1.6K one-time expense) that will cause expenses to be over budget for the year. Copier costs are also about $2K over budget through April, discussions are occurring with the vendor to reduce the costs to us in the form of future credits, but we don’t know the final result yet. There is now an underage of $4K on a YTD basis. This is not a concern at this point in time MMO: MMO had a surplus of $3.6K. There is a YTD surplus of $6.9K. Enrollment is still running at a high level. Enrollment is at 35 children on Mondays and 33 on Wednesdays. The next two months should have higher expenses and lower income because fees are collected a month in advance. If the higher enrollment remains for the whole year the expectation will be for a surplus at the end of the year. St Barnabas Financials as of April 30, 2015 Apr 15 Monthly $ +/- Jan-Apr YTD $ +/Actuals Budget Budget Actuals Budget Budget
Annual Budget
Income 32,043 Expenses: Staff 23,050 Operating 4,223 Ministry 2,328 Apportionment 5,292
36,063
-4,020 148,757 144,252 4,505
432,750
20,675 6,319 3,385 5,292
2,375 -2,096 -1,057 0
9,741 -242 440 0
248,105 75,825 40,600 63,504
Total Expenses 34,893 Net Income -2,850
35,671 392
-778 152,623 142,684 9,939 -3,242 -3,866 1,568 -5,434
428,034 4,716
92,441 25,034 13,980 21,168
82,700 25,276 13,540 21,168