Summary of the Treasurer’s Report on April 26, 2020

View a PDF of the presentation.

First Quarter Summary

Giving was $2.12M.

• Down $30K when compared to Q1 2019 giving
• $135K below Q1 2020 budgeted giving

Spending was $2.34M.

• Up $20K when compared to Q1 2019 spending
• $145K below Q1 2020 budgeted expenses

Spending exceeded giving by $223K.

• In Q1 2019 spending exceeded giving by $173K

Mortgages

Bethlehem Mortgage for North Campus

• $1.65M principal balance as of 3/31/20
• Reduced by $109K YTD
• $53k of this reduction was from special designated gifts towards reducing our mortgage balances

Bethlehem Mortgage for South Campus

• $6.76M principal balance as of 3/31/20
  Reduced by $42k YTD

Conclusion

Praise

• We are thankful for an increased number using online giving and recurring giving options while we are prevented from worshiping together.
• We continue to manage expenses in line with revenue, although timing of receipts and expenditures causes fluctuations on an interim basis

Prayers

• Pray for continued generosity in 2020 so that planned and budgeted ministry initiatives aren’t deferred.
• Pray for wisdom for the leaders of the church and the financial team to manage and plan in an uncertain economic environment.

Notes on spending/giving histories, year-to-date spending, net assets, and the Payroll Protection Program (PPP) are available in the PDF of the presentation.