May - Crosspoint United Methodist Church

MAY 2012
MARCH FINANCIAL UPDATE by Lorraine Moritz, Church Treasurer
PAGE 15
Weekly average giving during March was $19,491, $947 less than the budgeted average of $20,348 per week. Income
for March totaled $77,964 and expenses $110,843 resulting in a net loss for the month of $32,879.
Income and expenses year to date should be 25% of budget. At the end of March income and expenses for the year
were 23.4% and 25% of budget respectively, resulting in a year to date net loss of $16,877. Please note: March was a
3 pay-period month.
At the end of March all accounts payable invoices and Shares of Ministry are paid in full.
Year-to-date there has been a 5.3% decrease in giving as compared to the prior year and a 1.1% increase in expenses
as compared to the prior year.
CrossPoint’s expenses are summarized as:
`
2012 2011 Difference % Change
Income $ 77,964 $ 89,902 $ (11,938)
-13%
Expenses $ 110,844 $ 103,765 $ 7,079
7%
Net Income $ (32,880) $ (13,863) $ (19,017)
Fund Balance $ 57,317
Capital Fund $ 62,542
March
Year to date
actual:
$253,000
2012 Budget Income
$1,078,454
March
Year to date
budget:
$270,000
Expense Category
Ministry Team Compensation
2012
% of Total
Expenses Amount
58% $ 156,348
Office Expenses
7% $ 18,526
Property Expenses 15% $ 39,517
Education Expenses 2% $ 4,399
Shares of Ministry 14% $ 38,104
Missions
4% $ 9,817
Worship Expenses 1% $ 2,871
Total
269,583
Schedule of transactions for May:
May 7 Monthly, Semi-Monthly, Weekly
May 14 Weekly
May 21 Semi-Monthly, Weekly
May 29 Weekly
$