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Income -

Our total Regular Offerings in February were $44,447.50.

This was 2,822.50 over budget for the period.

We received $1,300.00 in Rental Income at our Gatehouse location for the Korean Presbyterian Church, as well as our monthly rental income of $1,840.00 at our Windgate location for the Peachtree Children’s Centre.

Our overall income for February was $47,587.50.

Expenses –

Total Expenses of $61,154.35 were $5,679.10 over budget.

This was largely due to the replacement and installation of a broken heat pump unit in the Worship Centre. Expenses in almost all other categories were under budget, except for the Music Ministry due to a timing difference between the actual expense and the budgeted expense.

Our annual insurance renewals for both locations, although budgeted, increased expenses for the month compared to the previous months this year.

General Funds –

We began the month with a balance of $21,657.85 in General Funds, and we finished the month with a balance of $8,091.00. This is $2,282.35 greater than our budgeted amount of $5,808.65 for the period.

Designated Funds –

For the month of February, we sent $200.00 to World Hope for the Recovery Centre.

We received donations of $955.00 for the roof project, for a total balance of $19,475.93.

March Overview –

Income -

Our total Regular Offerings in March were $49,312.20.

This was $7,687.20 over budget for the period.

We received $1,300.00 in rental income at our Gatehouse location for the Korean Presbyterian Church, as well as our monthly rental income of $1,840.00 at our Windgate location for the Peachtree Children’s Centre.

Our overall income for March was $52,452.20.

Expenses –

Total expenses of $58,491.55 were $2,668.66 over budget.

This overage was largely due to building expenses at the Windgate location for the annual snow removal invoices as well as some minor siding repairs.

General Funds –

We began the month with a balance of $5,808.65 in General Funds and we finished the month with a balance of $2,641.65. This is $7,890.89 greater than our budgeted loss of ($5,249.24) for the period.

Designated Funds –

For the month of March, we sent $200.00 to World Hope for the Recovery Centre and we have a total balance of $19,935.93 in our roof repair fund.

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Regards,

Glenda Lush

Administrator, Cornerstone Wesleyan Church