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
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
- 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
- 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.