Treasurer's Report

Summary of the Treasurer’s Report on July 28, 2019

View a PDF of the presentation.

Summary of Second Quarter 2019

Giving was $2.49M

  • Up $93K when compared to Q2 2018 giving

Spending was $2.59M

  • Down $52K when compared to Q2 2018 spending
  • $150K below Q2 2019 budget

Spending exceeded giving by $106K

  • In Q2 2018 spending exceeded giving by $251K

Year to Date 2019 Summary

Giving was $4.63M

  • Up $42K from 2018 when giving was $4.59M
  • Period includes an additional Sunday vs. 2018

Spending was $4.91M

  • Up $30K from 2018 when spending was $4.88M
  • $251K below YTD 2019 budget

Spending has exceeded giving by $279K

  • In 2018 June YTD spending exceeded giving by $291K

Mortgage Update

Bethlehem Mortgage for North Campus

  • $1.96M Principal balance as of 6/30/19
  • Reduced by $226K YTD

Bethlehem Mortgage for South Campus

  • $6.87M principal balance as of 6/30/19
  • Reduced by $44K YTD (payments began in March)

Conclusion

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
  • Thanksgiving to God for meeting 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