Treasurer's Report

Summary of the Treasurer’s Report on October 20, 2019

View a PDF of the presentation.

Summary of Third Quarter 2019

Giving was $2.20M

  • Down $317K when compared to Q3 2018 giving

Spending was $2.42M

  • Down $41K when compared to Q3 2018 spending
  • $180K below Q3 2019 budget

Spending exceeded giving by $222K

  • In Q3 2018 giving exceeded spending by $54K

Year to Date Summary

Giving was $6.83M

  • Down $275K from 2018 when giving was $7.10M

Spending was $7.33M

  • Down $11K from 2018 when spending was $7.34M
  • $431K below YTD 2019 budget (5.5% of YTD budget)

Spending has exceeded giving by $501K

  • In 2018 September YTD spending exceeded giving by $237K

Mortgage Update

Bethlehem Mortgage for North Campus

  • $1.88M Principal balance as of 9/30/19
  • Reduced by $320K YTD

Bethlehem Mortgage for South Campus

  • $6.84M principal balance as of 9/30/19
  • Reduced by $82K YTD (payments began in March)

Conclusion

Similar to Q2, finances are stable, but there are initiatives in our 2019 budget not being done that require additional financial resources.

Prayers

  • Continued wisdom in managing the finances of the church
  • Pray for generous giving to meet our financial needs as a congregation

Slides can be seen by viewing a PDF of the presentation.

Downtown Campus

720 13th Avenue South, Minneapolis, Minnesota, 55415
Sundays: 7:30am, 9am & 11am

North Campus

5151 Program Ave, Mounds View, Minnesota, 55112
Sundays: 9am & 11am

South Campus

20700 Kenrick Ave, Lakeville, Minnesota, 55044
Sundays: 10:30am