January 2016 Financials Balance Sheet: There was an increase of about $21K. The following is the breakdown by area: Monthly Operations +$13.7K (explained below) Moms Morning Off +$8.5K (explained below) Funds -$8K o $5.1K of the decrease was due to losses from our investment accounts for the endowment (- 3.2K ) and columbarium (-1.9K ) funds . Prepaid Pledges +$7K Significant activity from funds were as follows; Copier Fund (-$1,042), Dugat MMO Scholarship Fund (-$1,158), Outreach Fund (+$417), Building Fund (-$1,019). Monthly Operations: There were a number of large donations made in January that that contributed to our income being $10.2K over budget. Expenses were under budget by $4.6K. Almost all of the under budget was in personnel. We compute our monthly budget numbers by taking our annual budget and dividing by 12. This is simple, but when we have a situation like our new assistant who won’t start until May it will seems we are under budget in Jan-Apr and a little over budget the remaining months. MMO: MMO had a surplus of $$8.5K for the month. Tuition income was higher because a number of families paid their December fees (late) and prepaid future tuition. Enrollment is at 34 children with 10 teachers, this means everything is running at full capacity. St Barnabas Financials as of January 31, 2016 Jan 16 Actuals
Monthly $ +/Budget Budget
Jan-Jan YTD $ +/Actuals Budget Budget
Annual Budget
Income Expenses: Staff Operating Ministry Apportionment
50,416
40,230
10,186
50,416
40,230
10,186
482,750
21,287 5,860 4,217 5,381
26,685 6,449 2,778 5,381
-5,398 -589 1,439 0
21,287 5,860 4,217 5,381
26,685 6,449 2,778 5,381
-5,398 -589 1,439 0
320,199 77,400 33,350 64,572
Total Expenses
36,745
41,293
-4,548
36,745
41,293
-4,548
495,521
Net Income
13,671
-1,063
14,734
13,671
-1,063
14,734
-12,771