Report to the Congregation
- The Operating fund ended the fiscal year with a surplus of $23,876 due to staffing vacancies and the church closure in March.
- The Operating fund had a cash balance of $137,226 at June 30 which includes the proceeds of a $46,300 loan under the PPP program. The church expects that this loan will be substantially forgiven.
- With the surpluses in FY 2020 ($23,876) and FY 2019 ($16,972) and the expected PPP loan forgiveness ($46,300)—all together totaling $87,148—the church is well positioned to execute its staffing plan and pursue related growth initiatives.
- On the other hand, current year pledge commitments of $264,500 are significantly lagging budgeted pledge commitments of $300,000. While our current year expenses continue to run below budget and offset the pledge shortfall at this time, there is a structural deficit in revenues that needs to be addressed for the long term.
Jonas Kauffman, Treasurer
Here is the report as a pdf file: