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Church Finance Report
During December 2022, the Church received $8,576 in contributions as compared to $9,445 in 2021, a decrease of $869 or 9%. Year to date the Church has received $77,271 in contributions as compared to $98,588 in 2021, a decrease of $21,317 or 22%. Other income, which primarily includes income from the Church's rental properties is $25,611 year to date as of December 31, 2022 as compared to $33,826 last year. The decrease in other income is primarily due to 920 Marks Drive being vacant for several months during a change in tenants, in addition to catch up rental payments associated with the state wide rental assistance programs in response to the COVID19 pandemic that was received in the prior year.
The Church had expenses of $132,959 year to date in 2022 as compared to $123,371 in 2021. The expenses included the ongoing operating costs of office staff, janitorial staff, utilities, and limited office supplies. Included in the expenses for the year is $14,069 in maintenance and repairs to the Church's rental properties. Specifically costs associated with a water leak, interior repainting, replacing a dishwasher and other costs associated with getting a property ready to be rented to a new tenant.
The Church has $23,919 of unrestricted cash on hand as of December 31, 2022 as compared to $53,996 in the prior year. The unrestricted cash on hand is sufficient to provide for approximately two months of normal recurring expenses.
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