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.
