2019 St. Peters Annual Report
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23<br />
Treasurer’s <strong>Report</strong><br />
Treasurer's <strong>Report</strong><br />
Submitted by Karen Williams, Bookkdeeper<br />
Operating Budget<br />
* The 2018 budget for plate & pledge was $675,000. We received $559,395. Other income and income from<br />
fees was $8,386 which gave us total revenue of $567,781.<br />
* Total expenses for the year were $563,188 against a budget of $684,408.<br />
* Net Operating Total for the year was $4,593.<br />
* The <strong>2019</strong> budget is based on information generated through a successful pledge drive. The finance committee<br />
and vestry will reevaluate and adjust the current budget in six months.<br />
* During <strong>2019</strong>, just as was done in 2018, the income and expenses will be closely monitored by the finance<br />
committee and the vestry.<br />
Restricted Accounts<br />
* In the past year, <strong>St</strong>. Peter’s has received restricted donations in the amount of $310,936. This total includes<br />
$213,199 towards the Church on the Hill campaign with the balance supporting various church programs<br />
and local and international missions.<br />
MaxLife<br />
* The 2018 budget was based on forecasted revenue of $337,975. Actual income for the year was $324,748.<br />
* Total expenses for the year were $302,575 resulting in a net gain of $22,173.<br />
* The <strong>2019</strong> budget is based on sustained growth in the after school and summer camp programs.<br />
Preschool & Kindergarten<br />
* The Preschool & Kindergarten operates on a fiscal year - July 1 through June 30.<br />
* Total expenses for the 2017-2018 fiscal year were $435,114. Total revenues were $459,610. Net Operating<br />
Total for the 2017-2018 fiscal year was $24,496.<br />
* Total expenses for the 2018 calendar year were $423,967. Total revenues were $436,149. Net Operating Total<br />
for the 2018 calendar year were $12,182.<br />
* The Preschool & Kindergarten is performing well halfway through the current 2018-<strong>2019</strong> fiscal year.<br />
<strong>Annual</strong> Audit<br />
* In August, a full audit of <strong>St</strong>. Peter’s financial statements was completed for the year ended December 31,<br />
2017. Full audits will be conducted on an annual basis going forward.<br />
The Lord has truly blessed us here at <strong>St</strong>. Peter’s!<br />
In addition to the information you have received today, more detailed information is available upon request.
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