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Financial Summary
Q1 to Q3 and Year-End Projection
Operating Performance: First Three Quarters (Q1–Q3)
• Net Income: $9,000 which –$2,400 lower than projection
• Income Highlights:
o Overall Income is $600 above budget, indicating stronger-than-expected revenue in some areas.
o However, Parishioner Contributions are $2,500 below budget, a notable shortfall.
• Expenses:
o Expenses are $3,100 over budget, largely driven by increased utility costs.
Fourth Quarter Projection (Q4)
• A significant deficit of –$30,000 is projected, primarily due to:
o Payment of the Diocesan Assessment
o Funds reserved for the Rector Search Process
Full-Year Projection
• Operating Budget Deficit: –$18,000
• Non-Operating Budget Deficit: –$6,300
• Total Projected Deficit: –$24,300
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