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

View a PDF of the presentation.

Second Quarter Summary

Giving was $2.29M

• Down $196K when compared to Q2 2019 giving

Spending was $2.49M

• Down $100K when compared to Q2 2019 spending

Spending exceeded giving by $202K

• In Q2 2019, spending exceeded giving by $106K

2020 Year-to-Date Summary

YTD Giving was $4.41M

• Down $226K when compared to 2019
• $345K below 2020 budgeted giving of $4.75M

YTD Spending was $4.83M

• Down $80K when compared to 2019
• $294K below 2020 budgeted spending of $5.12M

YTD Spending exceeded Giving by $425K

• In 2019, YTD spending exceeded giving by $279K

Mortgages

Bethlehem Mortgage for North Campus

• $1.57M Principal balance as of 6/30/20
• Reduced by $198K YTD
• $85k of this reduction was from special designated gifts toward reducing our mortgage balances.

Bethlehem Mortgage for South Campus

• $6.72M principal balance as of 6/30/20
• Reduced by $79k YTD

Conclusion

Praise

• We are thankful for an increase in those using online giving and recurring giving options while we are prevented from all worshiping together.
• We continue to manage expenses in line with giving, 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, the Payroll Protection Program (PPP), and the current audit are available in the PDF of the presentation.