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Page 2
GOOD NEWS
TREASURER’S REPORT Full Year 2007
submitted by Craig Clack
GOOD NEWS! Here are our preliminary 2007 financial results. Our offerings and rent
for the month of December topped out at nearly $27,000 as compared to an average
month at $16,000.00. As a result, we made up a lot of ground against the offerings
deficit we had been seeing throughout most of the year. For 2007, our deficit has
been reduced to just $2,000.00 vs. our budget. WOW! The church budget for 2007
was $196,881.56; our actual offerings and rent for 2007 amounted to $194,900.14
Here’s
the rest of the good news. Our expenses were well below expectations. Again our
budget for the year was $196,881.56; our actual expenses totalled only $188,119.04.
We were nearly $9,000.00 under budget on our expenses.
The result for the church is an overall surplus for the year, offerings vs. expenses,
of $6,780.00. That will offset our accumulated deficit significantly, reducing it
down to just -
A Committee Expenses vs. Budget Variance Report is shown below (table 1). In short,
it shows that our surplus is a result of our savings in payroll this year. There
were other variances of course, but the majority was represented by salary savings,
reduced utilities, and reduced board expenses.
TABLE 1
Financial statements are available upon request. Please contact Craig Clack or Lisa Morikawa for information.