From the Treasurer…
It has been a while since we have updated you on the financial status of our construction for the building renovation. In August we took our second draw against our construction loan. The chart below outlines where we stand as of the end of August, 2021.
Funds Available Analysis
Current Fund Balance (509,729)
Plus Mortgage Drawn 628,337
Total Pledged ITD 1,823,121
Total Pledged Received ITD 1,625,691
Funds rec’d over pledged amount 56,107
Pledges (yet unpaid) remaining 252,330
Phase 2 Contribution 2,100
PILP Mortgage Undrawn 371,663
TOTAL FUNDS REMAINING 744,701
The Staff Parish Relationship Committee and the Finance Committee are very happy to announce that we have hired a part time accountant to work 15 hours each week, starting when we get back into our building. We are very excited to welcome Patsy Stockton.
As we get closer and closer to getting back into our building and being able to worship with one another again, we are also hoping that our regular church giving will increase. Currently our revenue is continuing to fall short of budget projected, with an August budget of $62,300 and actual revenue at $43,300.
August expenses came in under budget at $46,575 actual vs. $51,500 budgeted, utilities being the biggest cost savings for us at the moment.
This results in a net shortfall in Giving/Revenue of just over $32,000 for the fiscal year to date.
We remain extremely grateful for the support that our church family has continued to provide to our daily needs, as well as the building renovation. We prayerfully ask you to continue your support.
Treasurer, Columbine United Church