Rev__Exp_Board_-_March_2025.pdf
|
Key Balances (as of March 31, 2025) |
March 2025 |
March 2024 (last year) |
|
Net Operating Total YTD |
-$48,950 |
$55,748 |
|
General Reserve Fund |
$31,782 |
$31,525 |
|
Strategic Initiative Fund |
$205,380 ($129,000 planned transfer for 24-25 budget) |
$288,423 ($116,000 planned transfer for 23-24 budget) |
|
Campus Needs Fund |
$103,907 |
$142,491 |
|
Truist Loan |
$40,066 |
$63,087 |
|
Minister’s Discretionary Fund |
$15,723 |
$33,111 |
|
Special Campaign |
$526,651 (received so far) |
n/a |
|
Schwab Investment (T-bills) |
$835,254 |
$506,628 |
Inside the Numbers
3Q trends:
- Pledge income and collection plate are similar to this point last year.
- Rental activity remains very steady, and also similar to this point to last year.
- Most budget lines are at or below budget. There are some increases in the cost of doing business which are reflected in several expense areas (utilities, bank fees, insurance, inspections, IT, stewardship, coffee).
- All Special Campaign contributions are held in a temporary fund and will be distributed to the Campus Needs Fund and Strategic Initiatives Fund soon. A portion of the additional cash on hand ($300,000) was transferred into the Schwab Treasury bill investment (see Balance Sheet).
- YTD net is in the negative, as expected. This deficit will continue to grow in the next few months and be covered at the end of the year by the planned reserve transfer. With three months to go in the fiscal year, several variables can impact the total amount needed to transfer from reserves at the end of June. At this point, the end of the year projection for FY2025-26 is that we will need about $126,000 of the $129,000 planned reserve transfer.
Please refer questions on financial details to the Executive Minister or the Board Finance Advisory Committee.
(document by Daniel Trollinger, Executive Minister)
