June 2015 Financials Balance Sheet: There was a decrease of about $5K, but it was mostly due to MMO (-$3.5 explained below) and some other regular expenses. The big activity of the period was transferring the $38.5K from the general fund into other funds. The Vestry assigned the following amounts to the following funds: Building Fund $25K, Endowment Fund $5.5, Sabbatical Fund $5K, Dugat Scholarship Fund $2K, and the Benevolence Fund $1K. Significant activity from other funds were as follows; Copier Fund (-$880). Monthly Operations: We are at the midpoint of the year and overall are on budget on a year-to-date basis (YTD).. Income is $4K over budget (YTD) and Expenses are $2K over budget (YTD). Income for the month was below budget by $4K but expenses were under budget by $7K so the net for the month was +$3K. There are no major comments to make about details for the month. Pledge income was lower for the month but is on budget from a YTD basis. Expenses were lower for the month but are also on budget from a YTD basis. There is now an overage of $5K on a YTD basis. MMO: MMO had a deficit for the month of $3.5K. This is because MMO collected most of the fees for June’s Camp Barnabas in May and paid out employee expenses for the whole month. Next month there will also be a deficit due to no income but expenses for the last week of Camp Barnabas. Overall MMO is running a $3K surplus so will be above break even after the results for July. St Barnabas Financials as of June 30, 2015 Jun 15 Monthly $ +/- Jan-Jun YTD $ +/Actuals Budget Budget Actuals Budget Budget
Annual Budget
Income 31,636
36,063
-4,427 220,802 216,378 4,424
432,750
Expenses: Staff 17,445 Operating 4,050 Ministry 2,132 Apportionment 5,292 Total Expenses 28,919
20,675 6,319 3,385 5,292 35,671
-3,230 127,523 124,050 3,473 -2,269 37,605 37,914 -309 -1,253 19,202 20,310 -1,108 0 31,752 31,752 0 -6,752 216,082 214,026 2,056
248,105 75,825 40,600 63,504 428,034
Net Income
2,717
392
2,325
4,720
2,352
2,368
4,716