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September Finance Report

Highlights for period ending 30 September 2019

Cash:
Combined Operations Deposit accounts: 199,210
Due from(to) Project Phoenix Fund: 2,624
Less cash held for Restricted/Designated: 214,283
Total Operations Cash: -12,450
Combined Project Phoenix Deposit/Investment Accounts: 2,663,792
Due from(to) Operations Fund: -2,624
Total Project Phoenix Fund: 2,661,168

Operations Revenue:
Pledged giving is 505,637 of anticipated 515,035 (budget) this represents lower than budgeted by 9,398 year to date ending 30 September. Total revenue all sources is 13,794 lower than budgeted.

Operations Expense:
Operations expenses are 680,002 year to date ending 30 September of anticipated 736,740 (budget) representing 56,738 less than budgeted. There are some budget lines that are 100% spent for the year, but all expenses are represented in most of those lines. There are some budget lines that aren’t spent but will be. This indicates the need for stronger revenue from now until year end to end the year without a deficit.

Project Phoenix:
Project Phoenix direct expenses and revenues have been separated into a separate fund mechanically in the accounting software to closely monitor all use and transfer of those funds. A total of 97,010 has been transferred from Project Phoenix for operations support year to date ending 30 September. Direct expenses in excess of revenues (investment earnings) year to date for Project Phoenix are 44,035.

September 2019 Finance Report

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