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
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
- 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.
- 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.