Tuesday, June 22 2021
St. John’s Episcopal Church
This will be my final report as your Treasurer. I want to thank you for your support, good questions, and continuing commitment to leading our congregation through some complex challenges on our way to a vibrant and sustainable future. Please join me in thanking and welcoming Troy Atwell, our new Treasurer. I look forward to working with you in my new role focused on stewardship and community and financial development.
Our Current Financial Condition
Our Budget Report and Statement of Financial Position for May 2021, as well as an updated Plan to Address the Deficit and Increase Revenue July through December 2021 and Beyond, may be found by going to our website, www.stjohnsoly.org, clicking on “About Us”, then clicking on “Our Vestry” and scrolling to the bottom of the page.
Individual Contributions are over budget year-to-date by $5,681 (5.6%), including Income from Pledges over budget by $9,029 (9.5%) and Contributions/Loose Plate Offerings below budget by -$4,009 (68.7%). It is concerning to note that in May, Pledges were below budget for the month by -$5,929 (31.4%).
Capital Campaign Update
Currently, we have secured 70 pledges and accounted for $1,106,617 toward our campaign goal, of which $315,000 has been applied to fees and costs of the project and $791,617 in gifts and pledges is available to apply to future expenses or as collateral for a loan to provide the additional funds needed to complete the work and service the debt resulting from the loan. As of June 15, 2021, the balance in our Capital Campaign Account at Commencement Bank is $149,067.