Our Treasurer, Tom Gibson, gave an uplifting financial report to the Vestry for St. Monica’s financial results through the end of July. We’re showing clear evidence of emerging from the Pandemic slump of the past 2.5 years. Our Income/Revenues are much improved from the prior year. Our rentals contributed more than three times as much as they did in 2021 and now comprise about 15% of our total income. Our total income is well over budget and is on track to meet or exceed our year-end goal. The congregation is on track to meet its pledge goals and unpledged donations are exceeding the budget. However, our expenses are slightly over budget primarily because of large increases in utility expenses, lawn care, and maintenance repairs. As our physical plant ages, we are seeing large maintenance and repair needs including failing air conditioning units. Additionally, we are facing lean months ahead (August, September, October) before our snowbird members return. Because of the increased expenses and the upcoming lean months, we cannot yet say with certainty that we’ll meet the year-end budget for expenses and capital repairs. But through help from the Diocese to increase our mortgage and to give us temporary relief on apportionment payments and no mortgage payments through year-end, we have a cushion to cover most unexpected problems. Moreover, our cash-on-hand position is much stronger than it has been. The year-to-date financial statements are posted on the bulletin board outside the office. Upcoming fund-raising events will also help strengthen our financial position even more. A rummage sale is scheduled for November 5th. A dinner, dance, and silent auction are scheduled for February and volunteers are working diligently on these projects. We thank you for all your prayers and support. So many of you give so generously of your talent, time, and treasure.
2022-08-25T13:55:44-04:00August 25, 2022|Announcements|