Treasurer’s Report
On page 1 The Cash & Investment Summary has two sections.
The section titled Cash & Investments shows the accounts for the monetary assets of St. Peters.
The Restricted Funds (designated funds) section identifies those amounts that have been donated or set aside from the funds available for the general operation of the church.
Under Investments in the Trustees of The Funds Account there has been an improvement in spite the market’s ups & downs. Monies invested there are from the Cemetery Fund and the EC Davis Memorial Fund for Building & Development.
Your Vestry authorized the use of the Endowment, Memorials, and Handicap Ramp funds for the Bell Tower.
The Fund Activity chart at the bottom of the page displays those funds having activity during 2010.
The Operating Income Statement has been placed on the same page with FY2011 budget in order to facilitate comparing the FY2011 Budget with the FY2010 budget and expenditures.
In spite of the nation’s current economic situation, some costs such as utilities continue to rise. As a result and in order for your church to “live” within the income, it was necessary to reduce significantly some of the budget line items.
With the age of the Parish Hall and the church there continues a need for repairs. In addition, there is a downside to the increase in our congregation; we are outgrowing our Parish Hall. As a team we all must start thinking to the future and plan for an expansion.
As usual there have been a lot of “hidden” contributions in the form of time and material, including the little things such as providing food or flowers.
I will be pleased, any time, to answer any questions you may have.
Cash & Investment Summary
As of 31 December 2010
Balance at the End of
|
Cash & Investments |
Last Year |
This Year |
|
l. Bank Accounts – Union Bank & Trust Co |
|
|
|
General Checking Account |
$13,422.67 |
$29,130.81 |
|
Money Market Checking Account |
86,719.77 |
92,172.20 |
|
Cash on Hand |
1,700.00 |
1,260.00 |
|
Discretionary Fund Checking Account |
154.88 |
643.15 |
|
ECW Checking Account |
8,699.18 |
5,674.24 |
|
Total Checking Accounts |
$110,696.50 |
$128,880.40 |
|
|
|
|
|
II. Investments |
|
|
|
CD due 03/04/2011 |
30,000.00 |
30,000.00 |
|
Trustees of The Funds Account* |
40,098.97 |
42,688.86 |
|
Total Investments |
$70,098.97 |
$72,688.86 |
|
|
|
|
|
Cash & Investments Grand Total |
$180,795.47 |
$201,569.24 |
|
|
|
|
|
III. Restricted Funds |
|
|
|
Cemetery Fund* |
$14,374.05 |
$14,173.46 |
|
EC Davis Memorial Fund for Building & Development* |
27,612.41 |
29,782.08 |
|
Building Fund |
10,000.00 |
10,000.00 |
|
Emergency Operating Fund (Rainy Day) |
23,000.00 |
23,000.00 |
|
ECW Fund |
8,699.18 |
5,674.24 |
|
Laura Hayes Memorial Education Fund |
1,915.00 |
2,415.00 |
|
Discretionary Fund |
2,668.12 |
2,410.74 |
|
Parish House Fund |
5,459.64 |
5,459.64 |
|
Organ Fund |
753.00 |
923.00 |
|
Piano Fund |
(940.50) |
0.00 |
|
Bell Tower Fund |
2,500.00 |
0.00 |
|
Endowment Fund |
1,500.00 |
0.00 |
|
Memorials |
3,417.00 |
0.00 |
|
Handicap Ramp Fund |
1,462.50 |
0.00 |
|
Memorial Garden Fund |
0.00 |
575.00 |
|
Miscellaneous |
623.60 |
2,167.75 |
|
*Funds with part or all monies in investments |
|
|
|
Total Restricted Funds |
$103,044.00 |
$96,580.91 |
|
|
|
|
|
Total Operating Funds (Note 1) |
$77,751.47 |
$104,988.33 |
Fund Activity during 2010
ECW is reported separately
|
|
Beginning Balance |
Receipts |
Paid Out |
Ending Balance |
|
Handicap Ramp Fund |
1,462.50 |
0.00 |
1,462.50 |
0.00 |
|
Endowment Fund |
1,500.00 |
0.00 |
1,500.00 |
0.00 |
|
Memorials |
3,417.00 |
5,985.31 |
9,402.31 |
0.00 |
|
Bell Tower Fund |
2,500.00 |
22,935.26 |
25,435.26 |
0.00 |
|
Discretionary Fund |
2,668.12 |
3,170.50 |
3,427.88 |
2,410.74 |
|
Laura Hayes Memorial Education Fund |
1,915.00 |
2,500.00 |
2,000.00 |
2,415.00 |
|
Memorial Garden Fund |
0.00 |
575.00 |
0.00 |
575.00 |
|
Organ Fund |
753.00 |
170.00 |
0.00 |
923.00 |
|
Cemetery Fund [Cash on Hand] |
1,887.49 |
674.20 |
1,295.00 |
1,266.69 |
|
Piano Purchase |
(940.50) |
1,071.85 |
131.35 |
0.00 |
|
Miscellaneous |
623.60 |
2,041.00 |
496.85 |
2,167.75 |
|
Alter Flower Fund |
257.56 |
302.00 |
362.22 |
197.34 |
Operating Income Statement
for the Period
1 January thru 31 December 2010
|
|
Budget |
Actual To Date |
|
RECEIPTS |
|
|
|
Pledges |
54,164 |
59,520 |
|
Loose & Other Offerings |
10,000 |
16,689 |
|
Interest Earned |
0 |
12 |
|
Other |
5,000 |
5,440 |
|
Total Receipts |
69,164 |
81,661 |
|
|
|
|
|
DISBURSEMENTS |
|
|
|
Salaries: |
|
|
|
Salaried Clergy |
|
|
|
Base Salary |
11,142 |
11,142 |
|
Pension |
2,005 |
0 |
|
Life Insurance |
60 |
0 |
|
Health Insurance |
1,960 |
1,960 |
|
Telephone & Travel |
250 |
0 |
|
Professional Allowance |
250 |
170 |
|
Net Compensation |
15,667 |
13,272 |
|
Supply Clergy |
11,000 |
7,801 |
|
Organist |
4,558 |
3,948 |
|
Professional Allowance |
0 |
0 |
|
Supply Organist |
2,500 |
3,125 |
|
Total Salaries |
33,725 |
28,146 |
|
|
|
|
|
Outreach: |
|
|
|
Charities & Community Outreach |
2,600 |
1,830 |
|
Pledge to Diocese of Virginia |
750 |
750 |
|
Pledge to Region I |
300 |
300 |
|
Total Outreach |
3,650 |
2,880 |
|
|
|
|
|
Administrative: |
|
|
|
Admin & General Supplies |
2,200 |
1,118 |
|
Liturgy Supplies |
1,000 |
579 |
|
Diocesan Council & Clergy Conf |
800 |
470 |
|
Christian Education |
500 |
40 |
|
Music |
200 |
0 |
|
Cleaning Services |
1,000 |
0 |
|
Misc Expenses |
600 |
861 |
|
Nursery Duty |
0 |
162 |
|
175 Year Celebration |
750 |
353 |
|
Total Programs |
7,050 |
3,584 |
|
|
|
|
|
Church Properties: |
|
|
|
Insurance |
4,000 |
3,522 |
|
Utilities |
7,500 |
5,710 |
|
Reg Maintenance Bldgs & Grounds |
5,000 |
10,334 |
|
Building Repairs |
10,000 |
1,050 |
|
Total Property Expense |
26,500 |
20,616 |
|
Total Operating Disbursements |
70,925 |
55,226 |
|
|
|
|
|
Operating Surplus / (Deficit) |
(1,761) |
26,435 |
|
|
|
|
|