Financial Report
We are eight months into our fiscal year that began in April and are slightly better off financially than we had budgeted. Year-to-date income is 7% under budget which is exactly where we were this time last year. We have a consistent and faithful congregation.
Expenses are currently running 9% below budget due in large part to lower Personnel expenses. This is the result of hiring of the Associate Pastor a few months later than budgeted.
Currently we have a year-to-date surplus of $22K, but this is forecasted to turn into a deficit by the end of the fiscal year in March as spending is projected to be closer to budget and 2011 contributions are estimated to be less than budgeted.
Many 2011 pledge commitments have been received and many have increased their pledge, but we still need to hear from many if our ministry is to continue unhindered. All members and friends of our church are strongly encouraged to express their stewardship by making a pledge commitment for 2011.
Tavie Armfield, Comptroller
December, 2010