March Overview –

Income -

Our total Regular Offerings in March were $43,274.57

This was $1,599.57 over budget for the period.

We received $1,362.50 in Rental Income at our Gatehouse location for the Korean Presbyterian Church, as well as a facility rental. We also received our regular monthly rental income of $1,840.00 at our Windgate location for the Peachtree Children’s Centre.

Expenses –

Total Expenses of $59,658.74 are $150.04 over budget.

Overall, expenses were kept close to or below budget, apart from Ministry Expenses due to reimbursement for staff expenses incurred prior to the March reporting period.

General Funds –

 As of March 31st, we have a General Funds balance of $1,548.88, which is $3,258.25 under our budget of $4,807.13.

We continue to finish under budget for General offerings, as we have come in under budget for 8 out of 11 months in general donations since the start of the fiscal year.

Due to the low budget vs actual results for General offerings as well as factors such as families moving out of province and some unforeseen expenses, we are currently predicting a loss in General Funds of over $7,700 for the fiscal year.

In anticipation of the loss, we held a special Easter offering for the month of April and we are hopeful that this will offset the deficit, and we will be able to finish in the black for the year.

Designated Funds –

For the month of March, we sent $200.00 to World Hope for the Recovery Centre. We also received donations in the amount of $2,716.53 for our Building Care Campaign for a total of $13,852.13 in funds.

Please let Glenda know if you have any questions about the financial report.

To view the detailed statement, use the button below.

Regards,

Glenda Lush

Administrator, Cornerstone Wesleyan Church