October 4, 2008

Subject:  Treasurer’s Report for Council Meeting of October

 

Attachments:     P &L Summary

                        P & L Performance Report

                        P & L Prev Year Comparison

                        Balance Sheet Prev Year Comparison

 

  1. Summary.  Regrettably our prediction of a $30,000 deficit by the end of September proved accurate. 

 

  1. Income.  Year-to-date income is running 10% less than Budget.  It is very close to last year’s income at the end of September.

 

  1.    Expenses.  Year-to-date spending is much higher than previous years’, but within Budget 2008. We continue to spend $3,000 -$4,000 more each month than income.

 

  1. The last quarter of the year beginning October 1 is usually a good one financially.  If we do as well next quarter as we did in fourth quarter 2007 we may end the year with only a $25,000 deficit. 

 

 

 

 

Bob Winters

Treasurer

 

 

 

 

 

 

 

 

 

 

 

           

 

 

 

 

 

 

 

 

 

 

 

 

September 4, 2008      

Subject:  Treasurer’s Report for Council Meeting of September 9, 2008

Attachments:     P &L Summary

                        P & L Performance Report

                        P & L Prev Year Comparison

                        Balance Sheet Prev Year Comparison

 

  1. Summary.  By the end of the month our shortfall fell to only $23,000 - mainly because August 2008 had five Sundays and only two paydays.  Alas, there is no evidence of an increase in income.  Next month September will be a four Sunday month with three payrolls. We should anticipate a substantial increase in our deficit, topping $30,000 by the end of September.

 

  1. Income.  Year-to-date Income was$291, 986, $37,333 less than forecast, about 12%.  During the same period in 2007 income was $297,563.

 

3.   Expenses.  Year-to-date spending is higher than previous years’, but well within Budget 2008.  So far this year our spending is nearly $12,000 less than we authorized. We are nonetheless spending on average $3,000 -$4,000 more each month than income.

 

 

 

 

Bob Winters

Treasurer

 

 

 

 

 

 

 

 

 

 

 

           

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

August 11, 2008

Subject:  Treasurer’s Report for Council Meeting of August 12, 2008

 

Attachments:     P &L Summary

                        P & L Performance Report

                        P & L Prev Year Comparison

                        Balance Sheet Prev Year Comparison

 

  1. Summary.  July was a bit disappointing. We added $8,000 to our deficit.  Our accumulated deficit therefore increased from $18,997 in June to $26,879 by the end of July, 2008.

 

  1. Income.  Year-to-date Income was $25,828 less than forecast, about 12%.  July 2008 income was $13,000 less than July 2007, about 30%.

 

3.   Expenses.  Year-to-date spending is higher than previous years’, but well within Budget 2008.

 

    4.  It would be more fun if we had a surplus at the end of July, but while our actual situation is pretty dismal it is not unprecedented.  We had a similar experience in 2001 with about the same imbalances between income and spending.

 

 

 

Bob Winters

Treasurer

 

 

 

 

 

 

 

 

 

 

 

           

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 6, 2008

Subject:  Treasurer’s Report for Council Meeting of  June  10, 2008

 

Attachments:     P &L Summary

                        P & L Performance Report

                        P & L Prev Year Comparison

                        Balance Sheet Prev Year Comparison

 

  1. Summary.  By May 31, 2008, five months into the year, our budget shortfall was $24,535.

 

  1. Income.  Year-to-date Income was $26, 270 less than forecast, $8,194 less than last year at this time and $20,100 less than on May 31, 2006.

 

3.   Expenses.  Our expenses were close to Budget at $204,089, about $10,000 more           than in 2007 and $21,000 more than in 2006.         

 

    4.  Declining income with increasing expenses is not a good trend. 

 

 

 

 

Bob Winters

Treasurer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

May 7, 2008

Subject:  Treasurer’s Report for Council Meeting of May 13, 2008

 

Attachments:     P &L Summary

                        P & L Performance Report

                        P & L Prev Year Comparison

                        Balance Sheet Prev Year Comparison

 

  1. Summary.  By April 30, 2008, only four months into the year, our deficit grew to $23,277.

 

  1. Income.  Year-to-date Income is $21,000, about 13%, less than forecast.  It is $3,700 less compared to last year.

 

3.   Expenses.  We are good at forecasting expenses, which at $167,000 are very close

            To Budget

 

    4.  MakeItBakeIt  Fund will end up at about $7,700.  I will need direction from Council on how to spend this amount.

 

 

 

 

 

Bob Winters

Treasurer

 

 

 

 

 

 

 

 

 

 

 

           

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

April 7, 2008

Subject:  Treasurer’s Report for Council Meeting of April 8, 2008

 

Attachments:     P &L Summary

                        P & L Performance Report

                        P & L Prev Year Comparison

                        Balance Sheet Prev Year Comparison

 

  1. Summary.  March was a pretty good month, financially, as is usually the case when Easter is celebrated.  Additionally it was a month of five Sundays and only two payroll dates.  As a result our deficit at the end of the first quarter dropped from $15,000 at the end of February to “only” $10,493.     

 

  1. Income.  Year-to-date Income is short $13,240, about 11% from forecast.  It is, however, $6,100, about 6 % more than last year at this time.  Perhaps we may find reason to be a little optimistic?

 

  1. Expenses.  We managed to spend $3,000 less than Budget.  But, we spent $10,000 more than in the first quarter 2007, a 9% increase. 

 

  1. We need to worry about April 7, 2008, which has only four Sundays to collect

      Income, and during which we will record three payrolls - at $10,000 per occurrence. 

 

 

 

Bob Winters

Treasurer

 

 

 

 

 

 

 

 

 

 

 

           

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 6, 2008

Subject:  Treasurer’s Report for Council Meeting of March 12, 2008

 

Attachments:     P &L Summary

                        P & L Performance Report

                        P & L Prev Year Comparison

                        Balance Sheet Prev Year Comparison

 

  1. Summary.  The year is starting off badly.  We are doing a good job of spending. But our income is running 20% below Budget.  By the end of February we accumulated a deficit of over $15,000.

 

  1. Income.   Income is down in almost every category – Pledged, Non Pledged, Miscellaneous, even Sunday School.  This follows our very successful Pledge Drive reported in Nov/Dec 2007, after which we had reason to be optimistic about 2008 income.  Perhaps perceptions of a bad economy are an influence?  Year-to-date income is down also comparing 2008 with 2007.

 

  1. Expenses.  We are spending almost exactly in accordance with our Budget 2008.  There was an 11% increase in spending over year-to-date 2007. 

 

  1. The $35,000 “off budget” cost of roof repairs added to our budget deficit has put pressure on our total cash position.  The cash to pay for the new roof came primarily from money set aside in the Expansion and Growth Fund.  We charged Designated Funds and the Raise The Roof Fund (currently shown on the Balance Sheet as being in the hole by $28,000.) 

 

 

Bob Winters

Treasurer

 

 

 

 

 

 

 

 

 

 

 

           

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

January 5, 2008

Subject:  Treasurer’s Report for Council Meeting of January 8, 2008

 

Attachments:     P &L Summary

                        P & L Performance Report

                        P & L Prev Year Comparison

                        Balance Sheet Prev Year Comparison

 

  1. Summary.  December was an extraordinary month financially.  Our Net Income was over $17,000, reducing the deficit that has been haunting us all year to almost nothing by year end.  In the last quarter our deficit has dropped from $24,854 in October, to $18,129 in November, to $1,949 by December year-end.

 

  1. Income.   Year-end income was not much changed from 2006 – about $1,900 more.  But it was $21,811 less than Budget 2007.  That amount would have our deficit had we spent according to plan.  

 

  1. Expenses.  Luckily we spent $19,894 less than Budget 2007.  We spent $461, 679 vs. the $481,573 in our “growth” Budget.  Even so our 2007 spending set a new record, $11,200 more than in 2006.

 

  1. Budget 2008 available for final review at this council meeting.

 

 

Bob Winters

Treasurer

 

 

 

 

 

 

 

 

 

 

 

           

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 7, 2007

Subject:  Treasurer’s Report for Council Meeting of December 11, 2007

 

Attachments:     P &L Summary

                        P & L Performance Report

                        P & L Prev Year Comparison

                        Balance Sheet Prev Year Comparison

 

  1. Summary.  November was a profitable month, and our deficit position improved somewhat – from $24, 845 at the end of October to $18,129.  However even with a very good December it is not likely we will end the year in the black.

 

  1. Income.   Year-to-date income is $34,505 under our Budget forecast. It is $4,100 less than last year-to-date.

 

  1. Expenses.  Expenses through September were $425,042, $18,066 better than we forecast; $11,637 more this year-to-date than last.

 

  1. At this point of time it appears we will end the year with a deficit of about $13,000.   

 

  1. We will try to have a draft of Budget 2008 available for review at this council meeting.

 

 

Bob Winters

Treasurer

 

 

 

 

 

 

 

 

 

 

 

           

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

November 4, 2007

Subject:  Treasurer’s Report for Council Meeting of November 13, 2007

 

Attachments:     P &L Summary

                        P & L Performance Report

                        P & L Prev Year Comparison

                        Balance Sheet Prev Year Comparison

 

  1. Summary.  The Fourth Quarter, which we hoped would show an increase in revenue and decrease in our deficit, is off to a bad start.  October was the worst month this year.  Our deficit has grown to $24,845

 

  1. Income.   Year-to-date income is $36,807 under our Budget forecast, about 10% less than we think we need.  Income is about the same as last year-to-date.  Not nearly enough to cover our expenses.

 

  1. Expenses.  Expenses through September were $389,328, $15,317 better than we forecast; $15,763 more this year-to-date than last. 

 

  1. We need a large revenue surge in November and December to reduce (eliminate?) the deficit accumulated during the first 10 months of 2007. At this point it appears we may have over-estimated our ability to grow financially in 2007.

 

  1. In the meantime budget requests for 2008 show increases for nearly every expense category.  It will be difficult to accommodate any of these requested increases without finding offsetting decreases in expenses shown in Budget 2007.  

 

 

 

Bob Winters

Treasurer

 

 

 

 

 

 

 

 

 

 

 

           

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

October 5, 2007

 

Subject:  Treasurer’s Report for Council Meeting of October 9, 2007

 

Attachments:     P &L Summary

                        P & L Performance Report

                        P & L Prev Year Comparison

                        Balance Sheet Prev Year Comparison

 

  1. Summary.  September was another “loser” month where expenses exceeded income.  We have had six such months of the last nine resulting in a persistent, but not too serious, deficit of around $10,000.  Income will increase during the last quarter, so we may see this deficit shrink by year end. 

 

  1. Income.   Year-to-date income is $29,251 under our Budget forecast, about 8% less than we think we need.  Income is higher than previous years, an indicator of growth. It is $7,910 more than last year at this time. 

 

  1. Expenses.  Expenses through September were $341,182, a big number but $16,621 less (better) than we forecast.   Still expenses are nearly $15,000 more this year-to-date than last.  Expenses will grow again in 2008 – they always do. 

 

 

Bob Winters

Treasurer

 

 

 

 

 

 

 

 

 

 

 

           

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

August 8, 2007

 

Subject:  Treasurer’s Report for Council Meeting of August 14, 2007

 

Attachments:     P &L Summary

                        P & L Performance Report

                        P & L Prev Year Comparison

                        Balance Sheet Prev Year Comparison

 

  1. Summary.  We had one or two large gifts in July, helping to reduce our year to date deficit from over $11,000 at the end of June to less than $7,000 by July 31, 2007.  We like that.

 

  1. Income.   Our Total Income through July 31, 2007 was $263,655 which was $17,247 less than Budget.  Our income this year is about what it was last year at this time. 

 

  1. Expenses.  Expenses through July were $270,647.  This amount is $9814 less than our budget for the period and $7433 more than our income.  We spent $16,702 more this year to date this year than in 2006.

 

  1. We don’t like deficits – they drain our savings and limit our ability to try new things or respond to new challenges.  But if we end the year with our current deficit of $7,000 (less than one week of typical income) we will have reason to celebrate.

 

 

 

 

           

Bob Winters,

Treasurer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

July 3, 2007

 

Subject:  Treasurer’s Report for Council Meeting of July10, 2007

 

Attachments:     P &L Summary

                        P & L Performance Report

                        P & L Prev Year Comparison

                        Balance Sheet Prev Year Comparison

 

  1. Summary.  Our deficit continues to grow – to over $11,000 by the end of June, half way thru the year.

 

  1. Income.   Our Total Income through June 30, 2007 was $219,559 which was $21,215 less than Budget.  Our income this year is about what it was last year at this time.  Unfortunately our expenses are much higher than last year.  (We planned it that way – remember our “Growth “Budget?)

 

  1. Expenses.  Expenses through June were $230,846.  This amount is less than our budget for the period, $11,000 more than last year-to-date and of course about more than our income. 

 

  1. July this year has five Sundays – good for income and we are off to a good start with our receipts on July 1, 2007.  We may find a slowdown in the growth of our deficit by the end of next month.  But then comes August, historically our worst month financially. 

 

  1. Financial Position.  Our Balance Sheet still looks pretty good.  We have plenty our cash.  Our investments are growing.  We can afford a bad year if it comes to that.

 

 

           

Bob Winters,

Treasurer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 7, 2007

 

Subject:  Treasurer’s Report for Council Meeting of June 12, 2007

 

Attachments:     P &L Summary

                        P & L Performance Report

                        P & L Prev Year Comparison

                        Balance Sheet Prev Year Comparison

 

  1. Summary.  We continue spending more than income.  Our deficit grew to $7400 by month-end May 2007. Last year at this time we had a surplus of $7224.

 

  1. Income.   Our Total Income through May 31, 2007 was $186,395 which was $14,250 less than Budget.  Our income this year is about what it was last year at this time. 

 

  1. Expenses.  Expenses through May were $193,808.  This amount is less than our budget for the period, but nearly $11,000 more than last year-to-date.

 

  1. Financial Position.  Our Balance Sheet still looks pretty good.  We have plenty our cash.  Our investments are growing.  We always pay our bills on time. 

 

 

           

Bob Winters,

Treasurer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

May 4, 2007

 

Subject:  Treasurer’s Report for Council Meeting of May 8, 2007

Attachments:     P &L Summary

                        P & L Performance Report

                        P & L Prev Year Comparison

                        Balance Sheet Prev Year Comparison

 

  1. Summary.  April was a good month for income.  But not good enough.  Bottom line is we still have a year-to-date deficit $4066.

 

  1. Income.   Our Total Income through April 30, 2007 was $145,989 which was $14,527 less than Budget.  It is disappointing that we received $7,263 less than last year by this time. 

 

  1. Expenses.  Expenses for the period were $150,055.  This amount is less than our budget for the period, but $10,138 more than last year-to-date.

 

 

           

Bob Winters,

Treasurer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

April 5, 2007

 

Subject:  Treasurer’s Report for Council Meeting of April 10, 2007

 

Attachments:     P &L Summary

                        P & L Performance Report

                        P & L Prev Year Comparison

                        Balance Sheet Prev Year Comparison

 

  1. Summary.  By March 31, 2007 we find we spent $7,300 more than our income.  Pray that this deficit will not continue for the rest of the year.

 

  1. Income.   Our Total Income through March 31, 2007 was $103,371 which was $17,000 less than Budget and $3,400 less than we received by this time last year. 

 

  1. Expenses.  Expenses for the period were $110,600.  Luckily our expenses are $4,800 less than we anticipated for this period, but of course much higher- $8,250 more than last year.  Mostly salaries.

 

  1. We need to grow our income to have the kind of program we want and think we need for 2007.

 

 

           

Bob Winters,

Treasurer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

January 7, 2007

 

Subject:  Treasurer’s Report for Council Meeting of January 9, 2007

 

 

1.  Summary.  At year-end 2006 both income and expenses were at unprecedented high        levels.  In addition to the $456,706 in income, we had revenues of over $100,000        for designated purposes – much of which we gave away to various good causes   such as Project Peace.  We ended the year with a surplus of $6,311.  2006 was a         very good year financially; we plan to do even better in 2007. 

 

2.       Income.  Our total income was $19,500 (about 5%) above forecast.  Noteworthy           was the large increase in Envelope-Non-Pledged income – about 41% over           forecast and over previous year’s.  Total Income was $22,000 over 2005 income,         about 5% growth. 

 

3.       Expenses.  We spent $450,400, about $5,600 over Budget but still within our     income for the year.  Our expenses increased $37,300 over 2005, about 9%.  The     increases were for Benevolence, Salaries & Benefits, Property, Education and the            40th Anniversary Celebration.

 

4.      Benevolence and Outreach.  The largest sum of money we spent outside our church          was for Project peace, $43,000.  Next largest was our normal Benevolence        Expense shown in the Income Statement, $30,800.  In addition was $12,600 from          Designated Funds, Makeit/Bakeit Funds and our Benevolence Fund awards for    such worthy causes as World Hunger, Tijuana House Mission, R.A.I.N. Project            Lutheran Social Services and scholarships.  As a church our total giving for the        year was $86,400, about 15% of our total revenues.  2006 was a very good year. 

 

5.      Budget 2007.  We would like to spend $481,539 in 2007.  This amount is $44,353 more than Budget 2006, $31,147 more than we spent in 2006, and $24,833 more than we received in income in      2006.  We believe this increased spending is necessary and that the required           increase in income is attainable.  Most of the increase is in Salaries & Benefits - $37,061 more than Budget 2006.  Additionally are large increases for Property Maintenance and Education.  This is a growth budget, an investment in our future.  Our financial position is sound.  We have sufficient retained earnings from previous years to cover possible income shortfalls in 2007 – including $41,461 set aside in a fund titled Expansion and Growth.

 

 

Bob Winters, Treasurer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 8, 2006

 

 

Subject:  Treasurer’s Report for Council Meeting of December 12, 2006

 

Attachments:     P &L Summary

                        P & L Performance Report

                        P & L Prev Year Comparison

                        Balance Sheet Prev Year Comparison

 

  1. Summary.  The money keeps rolling in.  Our total income by the end of November was $10,000 above our Budget forecast.  Although we still have a small ($2449) deficit, we may yet end the year in the black.

 

 

  1. Income.  A large gift ($9500) was received in November by means of a stock transfer into our Schwab account.  Similar gifts have been received in past years so this year’s jump in income was hopefully anticipated.  Our year-to-date income is running $16,500 over last year’s.

 

 

  1. Expenses.  So far we have spent $34,750 more than last year.   That is the reason we are struggling to break even by year end.   

 

 

  1. Budget 2007.  Since our last meeting we found another large increase in expenses for 2007 – a $5,200 jump in annual Pastor Pension & Health costs.  At this point Budget 2007 will show expenses $41,712 more than Budget 2006.  Thus the bottom line of Budget 2007 is a very large deficit amount equal to about 10% of our currently expected income.   We need to grow our income to have the kind of program we want and think we need for 2007.

 

 

 

 

           

Bob Winters,

Treasurer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

November 11, 2006

 

Subject:  Treasurer’s Report for Council Meeting of November 14, 2006

 

Attachments:     P &L Summary

                        P & L Performance Report

                        P & L Prev Year Comparison

                        Balance Sheet Prev Year Comparison

 

  1. Summary.  By October month-end we have a deficit of $7700 in Net Ordinary Income.  Considering the add-on expenses of Project Peace and the 40th Celebration, we are about where we should be.

 

 

  1. Income.  General Income is $1500 on the plus side at the end of 10 months. And $22000 above last year’s income to date.  Considering the extra contributions our members and non-members have made towards Project Peace, we should be amazed and grateful that our Ordinary Income remains at 100%.

 

 

  1. Expenses.  Unfortunately we are spending more than our income.  We have spent $26600 more than last year at this time.   Expenses must be reduced and/or income increased during November and December for us to end the year in the black. 

 

 

  1. Assets and Liabilities.  Cutting a check for $40000 to Peace Lutheran Church in Slidell put a little pressure on our cash position, but we should recover in a week or so.  Our Balance sheet has a new look.  Designated Funds are grouped to show broad areas of interest and responsibilities, and maybe make finding certain funds easier. 

 

 

  1. The first draft of next year’s budget is posted with other financial reports on our web site.  It needs more work.

 

 

           

Bob Winters,

Treasurer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

October 3, 2006         

 

Subject:  Treasurer’s Report for Council Meeting of October 10, 2006

 

Attachments:     P &L Summary

                        P & L Performance Report

                        P & L Prev Year Comparison

                        Balance Sheet Prev Year Comparison

 

  1. Summary.  By September month-end we are slightly below break even with a deficit of $2200 in Net Ordinary Income.  We should see an increase in income during the last quarter and end the year with a small surplus.

 

 

  1. Income.  General Income is minus $3900 or about 1% below forecast, but is still $17500 above last year’s income to date.

 

 

  1. Expenses.  We have spent more than we have “earned”, but still less than we forecast for spending by the end of September.  We have spent $22,700 more than last year at this time. 

 

 

  1. Assets and Liabilities.   Our cash position is way above normal due to revenue designated for Project Peace, currently about $33,000.  This will change, suddenly, on the day next month when I cut the check to Peace Lutheran Church in Slidell, LA.

 

Bob Winters,

Treasurer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

September 8, 2006

 

Subject:  Treasurer’s Report for Council Meeting of September 12, 2006

 

Attachments:     P &L Summary

                        P & L Performance Report

                        P & L Prev Year Comparison

                        Balance Sheet Prev Year Comparison

 

  1. Summary.  We are having a very good year.  By August month-end we are at about break even – a modest achievement perhaps but unprecedented (in past years we always saw negative net income by the end of summer.) 

 

 

  1. Income.  General Income continues to equal or exceed forecast and surpasses last year’s by over $20,000.  I don’t know why.  When we put together the budget we thought we were being overly optimistic for 2006 income projections.

 

 

  1. Expenses.  Our Total Expenses are $9700 less than forecast, but $11000 more than we spent during the same time period last year.  We may see expenses by year end become more than forecast because of items not included in the original budget:  Children Ministry Coordinator ($6000), 40th Anniversary Celebration ($3000) and, perhaps, Project Peace expenses of $5000.

 

 

  1. Assets and Liabilities.   Our financial position continues to be good.  We have spent a lot of money from designated funds including Make-it Bake-it, VBS and Youth, and as distributions from our Benevolence Fund.  Nonetheless our cash accounts and stock investments continue to grow. 

 

Bob Winters,

Treasurer