September 2015 Financials Balance Sheet: There was a decrease of about $13K. The following is the breakdown by area: Monthly Operations -$8K (explained below) Moms Morning Off $.6K (explained below) Other (mostly Funds) $-4K Significant activity from funds were as follows; Copier Fund (-$880), Daughters of the King Fund (-$1.3K), Encouragers Fund (-$.7K), Hill Beautification Fund (-$.7K), and the Rector Discretionary Fund ($1.1K). Monthly Operations: Income for the month was under budget by $1.8K and expenses over budget by $6.5K making the net for the month a negative $7.9K. Lower October pledge income versus budget was the key to lower income for the month. It was a 3 paycheck month so personnel costs were a little higher by $2.8K. The other big expense for the month was an insurance payment of $4.4K which is $3.3K higher than the monthly budget. These 3 items led to the total for the month being a net negative $7.9K. On a YTD basis, income is over budget by $2K and expenses are over budget by $2K. As of the end of September we are right on track with the budget with only 3 months left in the year. MMO: MMO had a surplus for the month of $.6K. This is because a few families paid for several months in advance so income ended up more than expenses for the month even though it was a 3 payroll month. On a YTD basis, MMO is a positive $.5.4K. Fall enrollment is at 34 children with 10 teachers, this means everything is running at close to full capacity. St Barnabas Financials as of September 30, 2015 Sep 15 Monthly $ +/- Jan-Aug YTD $ +/Actuals Budget Budget Actuals Budget Budget
Annual Budget
Income 34,259
36,063
-1,804 326,750 324,567 2,183
432,750
Expenses: Staff 23,541 Operating 9,346 Ministry 3,975 Apportionment 5,292 Total Expenses 42,154
20,675 6,319 3,385 5,292 35,671
2,866 3,027 590 0 6,483
190,059 59,178 26,809 47,628 323,674
186,075 56,871 30,465 47,628 321,039
3,984 2,307 -3,656 0 2,635
248,105 75,825 40,600 63,504 428,034
392
-8,287
3,076
3,528
-452
4,716
Net Income -7,895