Rev__Exp_Board_-_Sept_2022.pdf
Finance Summary * 1Q Fiscal Year 2022-23
Pledge income for the first three months is up since some members prepaid their 2022-23 pledge.
Expenses are beginning to show up as the program year begins, though most areas are at or below budget. There have been some unexpected facilities expenses with IT infrastructure, but all can be managed within current budget allocations.
With the campus now open, rental income looks very solid so far.
Key Balances (as of Sept 30, 2022)
|
Net Operating Total YTD |
$48,712 |
|
General Reserve Fund |
$30,868 (annual adjustment per fund policy completed) |
|
Strategic Initiative Fund |
$254,392 ($135K committed to 2022-23 budget) |
|
Campus Needs Fund |
$229,027 ($29,027 in fund + $200,000 in Self Help CDs) |
|
Truist Loan |
$96,257 |
|
Minister’s Discretionary Fund |
$25,024 |
Facilities -- Current projects:
- IT infrastructure repairs needed as the Care bldg. internet was down due to degraded wire between the two buildings
- Prep campus for early voting which will occupy the Fellowship Hall for about three weeks.
- Plank repair/stain work continues on the boardwalk (volunteer effort led by Peter Romeyn)
