Skip to main content
Tuesday, May 26 2020

St. John’s Episcopal Church
Treasurer’s Report for The Chronicle
May 24, 2020

Finance Committee

The regular monthly meeting of the Finance Committee was held on May 14.  Joining me were members R.C., Gerry Apple, Sarah Clifthorne, Mark Hampton, Ric Weatherman, and Christian MacMillan. The Committee reviewed our current financial condition and affirmed the decision to transfer our banking relationship from Columbia Bank to Commencement Bank as soon as is practicable.

Our Current Financial Condition

Bank Balances as of 5/12/2020:

  • Commencement PPP Loan = $34,271.21
  • Commencement Operations = $19,159.32
  • Commencement Memorial = $20,000
  • Columbia Operations = $23,154.50
  • Columbia Designated = $6,200.28
  • Columbia Memorial = $7,718.72
  • Columbia Capital Campaign = $13,247.02

Statements of Activity and Financial Position as well as our Revenue & Expenditure (Budget) Report as of April 30 have been posted to the parish website. Please follow this link and scroll to the bottom of the page to view the financial reports.  As of April 30, our year-to-date operating deficit was -$86,083.66, but with receipt in May of $60,000.00 from our DIF Account, $54,577.00 in Payroll Protection Plan (PPP) funds, and $5,000.00 in Economic Injury Disaster Loan (EIDL) funds, we have—for now—a positive variance to budget.. 

Pledge payments increased significantly in April to $26,892.19, up $11,603.66 from March, reducing our year to date shortfall to budget to -$12,612.58 (14%).

Our projected Diocesan Assessment for 2020 is $56,346.00. The January, February, and March 2020 payments have been made. A payment was not made in April, as our priority was retaining sufficient funds to meet our monthly payroll. Both the April and May payments will be made this month.

As always, if you have any questions or would like additional information regarding our budget or financial condition, please contact Cynthia at cynthia@stjohnsoly.org or me at bobleroy05@gmail.com.

Respectfully submitted…

…Bob Le Roy, Treasurer

Posted by: Bob Le Roy AT 01:18 pm   |  Permalink   |  Email