Financial Updates

Thank you for your ongoing generosity!  We are especially grateful for the end of year gifts we’ve already started to receive.  They are helping us to start to move from a state of sustaining toward a state of flourishing. Our continued hope and prayer is that we would be able to raise that additional $50,000 to not only get to a point of a balanced budget, but also restore our ministry budget lines to what was originally hoped for last spring. To learn more about this goal, you can read our end of year giving letter HERE.

Creekside Pastoral Team

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Fiscal YTD (9/1 to 11/30/23)

 

                         Actual       Qtrly Budget

Income          $122,099        $104,750 

Expenses       $106,708       $111,116 

Net Income   $ 15,391         $(6,366)

 

Our giving and income is currently in the black by $15,391 versus where we originally thought it would be in the red by $6,366 (in part, due to slightly lower than expected expenses so far this year).

 

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FY23-24 Q1 Results

From 9/1 through 11/30, our actual Q1 income is up $17,349 over our budgeted plan.

Actual income is up $35,470 over that for the same period last year.

For a while now, we've been operating in the black with income exceeding expenses.

This is reflected in our Q1 gain, which has erased $21,757 of our forecast overall annual deficit of $26,220.

     

                        Actual           Qtrly Budget         Qtrly Diff

Income          $122,099           $104,750                 $17,349 

Expenses       $106,708           $111,116                $(4,407)

Gain/Loss      $15,391             $(6,366)                   $21,757 

 

Mortgage

Our mortgage balance is down to $602,067. The last payment was for $5,263 with $3,334.83 to principal. As of October 1st, we have 12 years left on the original 20-year $870,000 mortgage. The interest rate is 3.875%, adjustable every 3 years, and resetting next on October 1, 2024.

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December and Year-End Giving

We have realistically budgeted income of $60,583 for December; through the 12th, we're at $22,686, which is a bit less than last year's giving of $25,692 for the same period. Of course, we do believe in miracles and ask you to once again be a joyful giver in this Christmas season. We hope your generosity will be as bountiful as last year, when we had income of $109,271 including stock gifts. If we can match that number this month, God willing, we can balance our budget, restore budget cuts, invest in new initiatives and grow our church from last year's fertile soil. 

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Stew Konzen,

Financial Officer