August 2015 Financials Balance Sheet: There was an increase of about $10K, but it was mostly due to StB monthly operations ($11K explained below) and MMO ($6K explained below) and expenses from the other funds. Significant activity from other funds were as follows; Copier Fund (-$880), Building Fund (-$3.2K), Benevolence Fund (-$2K), Daughters of the King Fund (+$.8K), Dugat MMO scholarship Fund (+$1K), and Rector Discretionary Fund (+$1.5K). Monthly Operations: Income for the month was greater than budgeted by $3.4K and expenses were under budget by $7K making the net for the month a positive $11K. Pledge income higher by $4.7K for the month. Lower personnel expenses for the month were about $3.4K and when coupled with other areas that were under budget by $3.6K the total under budget was $7K. This under budget for the month will not continue into next month as it is a three payroll period month. On a YTD basis, income is over budget by $4K and expenses are under budget by $3K. YTD income less expense is $10K versus a YTD budget of +$3K. MMO: MMO had a surplus for the month of $5.6K. This is because MMO collected fees for September and had minimal personnel expenses for the month. On a YTD basis, MMO is a positive $.4.8K. Next month income versus expenses will probably be negative as it is a 3 payroll month. Fall enrollment is at 36 children with 10 teachers, this means everything is running at full capacity. Other Item: The annual audit was completed in August. The Audit Committee for this year was comprised of Beverly Carnes, Molly Martin, and Lorri Kendrick. We thank them for volunteering and they have agreed to do it again next year. We will be looking for others the following year as well as one person (at least) to participate with them to improve the continuity on the audit committee from year to year. St Barnabas Financials as of August 31, 2015 Aug 15 Monthly $ +/- Jan-Aug YTD $ +/Actuals Budget Budget Actuals Budget Budget
Annual Budget
Income 39,443
36,063
3,380
292,491 288,504 3,987
432,750
Expenses: Staff 17,293 Operating 4,074 Ministry 1,841 Apportionment 5,292 Total Expenses 28,500
20,675 6,319 3,385 5,292 35,671
-3,382 166,518 165,400 1,118 -2,245 49,831 50,552 -721 -1,544 23,434 27,080 -3,646 0 42,336 42,336 0 -7,171 282,119 285,368 -3,249
248,105 75,825 40,600 63,504 428,034
Net Income 10,943
392
10,551
10,372
3,136
7,236
4,716