September Overview –

Income -

Our total Regular Offerings in September were $38,218.73

This was $3,456.27 under budget for the period.

We received $1,350.00 in Rental Income at our Gatehouse location for the Korean Presbyterian Church as well as our regular monthly rental income of $1,840.00 at our Windgate location for the Peachtree Children’s Centre.

Expenses –

Total Expenses of $44,606.93 are $3,716.82 under budget.

Office Expenses as well as Windgate Building Expenses were kept well under budget while Misc Expenses were over budget due to some Baptismal and permit costs.

General Funds –

We discovered an error in our budgeted income projections for the first 5 months of the fiscal year.

We reduced our budgeted income for the remaining 7 months by $1,175.00 per month to correct the error. This should help to close some of the gap we have incurred in the YTD General Funds however, we will need to review expenses and reduce them accordingly where possible as we are now projected to have $8,225.00 less in our General Funds at the end of the fiscal year leaving us with a negative balance.

With our revised budget, we budgeted for a balance in General Offerings for September of $19,700.87 and we ended the month with a balance of $7,468.50 for a loss of $12,232.37.

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