Treasurer’s October 2021 Report to Congregation

by Ron Clark, Disbursing Treasurer, rclark1040@gmail.com

 

To view the October Budget Report (budgeted income and expenses), click here.

 

October pledge receipts rebounded considerably from September to $24,945, almost $5,500 over our monthly budget. Current year pledge receipts are 2.5% below the October target of 33.3%, but when prepaid pledges are included they are at 51.3% of budget for the year. Prior year pledges of $250 were received in October and collections of FY 2020-21 pledges are $12,366 short of the pledged amount. Other recurring income fell to $216 in October, bringing the FY 2021-22 total to 5.3% of the annual budget. Total income is 5.6% below target. No endowment dividends were transferred to the operating budget in October.

The Employee Retention Credit (ERC) of $2,735 from the fourth quarter of 2020 has yet to arrive. We have successfully negotiated with our payroll service provider to prepare tax returns to claim the ERC for all four quarters of 2021 at a savings of at least $1,000 over their original offer.

Year-to-date all major expense categories were between ½% to 10% below target. Overall budgeted expenses were 77% of budget for the month and 3.6% below the year-to-date target. After September’s deficit of nearly $12,000, October income exceeded expenses by $6,937. Year-to-date budgeted expenses exceed income by $9,583.

Our endowment funds more than recovered their September losses and had balances that totaled $75,358 more than their June 30, 2021 balances.

In addition to the operating budget, October collections of at least $100 were:

Outreach charities
Kearney Center $425
Manna on Meridian $210
Second Harvest $350
NAMI $100
Total $1,085

Funds
Minister’s Discretionary Fund $500
Music Fund $118
Total $618

Respectfully submitted,
Ron Clark
Disbursing Treasurer