Management Responsibility. Table of Contents

Transcription

1 MONTHLY FINANCIAL STATEMENTS Trinity episcopal church February 2019 Prepared by: Kansas City Springfield GoodFaithAccounting.com

2 Management Responsibility The organization s management is responsible for the information contained in these reports and for the development, implementation, and adherence of all financial policies and procedures. We recommend management carefully review all transactions contained in these reports to insure accuracy and clarity. Table of Contents Statement of Financial Position The statement of financial position gives a financial picture of the organization as of the end of the reporting period. It reflects the assets, liabilities, and net assets of the organization. Definition of Fund Accounting Terms Net Assets Total Assets minus Total Liabilities. Net assets fall into one of two categories: 1. With Donor Restrictions funds that may be spent only as restricted by the donor. 2. Without Donor Restrictions funds available for general operations. These may be further separated as follows: a. Net Investment in Fixed Assets - total fixed assets minus accumulated depreciation minus any loans related to the fixed assets. b. Board Designated - although not donor restricted, these amounts have been segregated by the board (or finance committee, elders, etc.) for special purposes. c. Prior Years Net Balance cumulative net activity (revenues minus expenses) from all prior years. d. Current Year Net Balance current year net activity (detailed on the Statement of Activities). Statement of Activities The statement of activities reflects the revenues and expenses of the organization for the current period of time typically the current month and year-to-date. It can also be used to compare actual revenues and expenses to those budgeted. Web GoodFaithAccounting.com Kansas City Springfield

3 Statement of Financial Position 2/28/2019 Assets Current Assets CNB Operating $ 101, CNB Kitchen , CNB Rector's Discretionary CNB Deacon's Discretionary , CNB Prepaid Pledges CNB Pendleton Hymnal , CNB Jim Ralston Music Endowment , CBMW Endowment , CNB Food Pantry , CNB-Gift Account UNB Trinity Treasures CNB Trust Securities donated Total Current Assets 463, Other Assets Prepaid Expense - Total Other Assets - Fixed Assets Land 655, Buildings - Church & Office 1,101, Organ 225, Total Fixed Assets 1,982, Total Assets $ 2,446, Liabilities & Net Assets Current Liabilities Accounts Payable $ Federal Tax Payable 1, State Tax Payable Pension Withholding Payable H.S.A. Payable - Total Current Liabilities 1, Miller Management 1

4 Statement of Financial Position 2/28/2019 Net Assets With Donor Restrictions 51, Unrestricted Net Investment in Fixed Assets 1,982, Board Designated 319, Prior Years' Net Balance 25, Current Year Net Balance 66, Total Without Donor Restriction 2,393, Total Net Assets 2,445, Total Liabilities & Net Assets $ 2,446, Cash Available Available for General Operations Cash & Cash Equivalents $ 463, Less: Accounts Payable/Taxes Payable 1, With Donor Restrictions 51, Board Designated 319, Total Unavailable 371, Cash Available for General Operations $ 91, Miller Management 2

5 Summary of Net Assets With Donor Restriction and Board Designated Beginning Fund Balances With Donor Designated Acct #'s Fund Total Funds Restriction Contributions Year To Date Other Expenses Revenue Txfrs In (Out) Ending Fund Balances With Donor Designated Total Funds Restriction Outreach Funds Rector's Discretionary Fund 1, , Deacon's Discretionary Fund 2, , , , Ploughman's Lunch Fund 2, , (1,000.00) 1, , Food Pantry Fund 25, , , , , , Back Snack Fund 2, , , , K2K Fund , Episcopal Church Women Fund Miscellaneous Outreach United Thank Offering Save Our Kids Offering (20.00) Facilities Columbarium Fund , , , Kitchen Improvement Fund 1, , , , Music Fund Gifts for Music Fund Jim Ralston Music Endowment 6, , (4,000.00) 2, , Helen Pendleton Hymnal Endowment 9, , , , Other Funds Anniversary/Birthday Fund Holy Stir-It Fund Gifts for Worship Fund Memorials - General Fund , , , Organ Debt Repayment Fund DACA Fund 4, , , Education Fund TEST Fund 2, , , , Prepaid Pledges 19, , (19,908.45) Trinity Treasures 1, , Endowment Endowment Fund 299, , , , , Total Funds $ 381, $ 80, $ 300, $ 5, $ 1, $ 10, $ (6,478.73) $ 51, $ 319, $ 370, G/L Account Coding Ending in 1 = Gifts (contrib credit) 2 = Other Revenue (no contrib credit) 5 = Expense 9 = Transfer Miller Management 3

6 Statement of Activities Current Month Year-to-Date Annual Budget Actual Budget Variance Actual Budget Variance Budget Remaining Revenues Pledge Income $ 51, $ 29, $ 22, $ 81, $ 58, $ 22, $ 352, $ 270, Prepaid Pledge Income (201.25) (402.50) 2, , Prepaid Pledge Income 19, , , , (19,908.45) Plate Offering , (555.73) 1, , (1,013.02) 14, , Non-Pledge Income 4, , , , , (267.83) 44, , Interest Income (7.74) Gas & Oil Royalties Use of Facilities Wedding Income (400.00) Funeral Honorariums Income (625.00) Library Income (42.00) Tract Receipts (24.67) Flower Income Stewardship Income Youth Activities Fund Raising Events (10,545.00) (11,295.00) - 1, (1,500.00) 9, , Above & Beyond Income 17, , , , , , , (1,065.00) GIFT Income GIFT Expense Miscellaneous Income (125.00) , , Total Revenues 85, , , , , , , , Expenses Ministries Outreach Advertising & Promotion (41.67) (83.34) Hospitality (41.67) (28.43) Diocesan Assessment 5, , (761.33) 11, , (538.66) 73, , Total Outreach 5, , (844.67) 11, , (650.43) 74, , Worship Flowers (23.67) (90.34) Pastorial Care Altar Supplies (41.67) (83.34) Supplies for Worship (41.67) (83.34) Total Worship (107.01) (257.02) 1, , Miller Management 4

7 Statement of Activities Current Month Year-to-Date Annual Budget Actual Budget Variance Actual Budget Variance Budget Remaining Music Music Materials (91.67) (183.34) 1, , Musicians Contracted/10: (75.00) , , Musicians Contracted/6 p.m Music Equipment Expense Choristers Expenses (20.83) (41.66) Organ Maintenance (100.00) (200.00) 1, , Total Music (287.50) , (375.00) 7, , Education Adult Education (8.33) (16.66) Elementary Classes Vacation Bible School (33.33) (66.66) Youth Education (50.00) (100.00) Library Materials (8.33) (16.66) Tract Rack (16.67) Nursery (216.67) (68.34) 2, , Books & Subscriptions Childrens Ministries (83.33) , Total Education (416.66) , , Total Ministries 5, , (1,655.84) 13, , (1,198.60) 89, , Building and Administration Building & Grounds Repair & Maintenance (833.33) - 1, (1,666.66) 10, , Housekeeping/Custodial (62.50) 1, , (125.00) 6, , Pest Control (24.92) (49.84) Security Property / Liability Insurance 1, , (444.84) 4, , (124.32) 28, , Total Building & Grounds 2, , (1,365.56) 5, , (1,965.76) 46, , Utilities Electric 2, , , , , , , Gas , , , Water/Sewer/Trash (36.03) (80.37) 3, , Total Utilities 3, , , , , , , Miller Management 5

8 Statement of Activities Current Month Year-to-Date Annual Budget Actual Budget Variance Actual Budget Variance Budget Remaining Communications Telephone (12.70) (28.30) 2, , Internet Services , Messaging Services (109.67) (219.34) 1, , Website Total Communications (97.39) (197.68) 4, , Office Administration Office Expense , , , Office Machine & Computers , , (134.31) 8, , Postage , Accounting and Audit (583.33) - 1, (1,166.66) 7, , Bank Fees , Miller Management Accounting Fee 1, , , , , , Total Office Administration 2, , (216.46) 5, , (247.53) 33, , Other Expenses Wedding Expenses (200.00) Meetings and Conventions (62.50) (125.00) Stewardship Emphases (41.67) (83.34) Cost of Selling Stock (8.34) Miscellaneous Expenses (33.33) (66.66) Food Pantry Support (83.33) (166.66) 1, , Funeral Expense (200.00) Total (12.50) (50.00) 2, , Total Building and Administration 8, , (743.72) 18, , (863.64) 114, , Personnel Clergy Salaries and Benefits Clergy Salary 9, , , , , , , , Clergy Housing Allowance 2, , , , , , Clergy Continuing Ed (116.67) (233.34) 1, , Clergy Travel Expense Clergy Pension Premiums 1, , (0.04) 3, , (0.08) 19, , Clergy Professional Expenses Deacon's Continuting Ed Supply Clergy (33.33) (66.66) Total Clergy Salaries and Benefits 13, , , , , , , , Miller Management 6

9 Statement of Activities Current Month Year-to-Date Annual Budget Actual Budget Variance Actual Budget Variance Budget Remaining Other Salary and Benefits Music Staff Salaries & Benefits , (1,702.76) 1, , (2,919.76) 28, , Music Supply Personnel (102.75) (205.50) 1, , Office Staff Salaries & Benefits 2, , (1,241.97) 3, , (3,266.09) 41, , Christian Education Salaries (291.67) (583.34) 3, , Payroll Tax (318.81) , (660.29) 6, , Worker's Compensation (132.17) (264.34) 1, , Music Staff Continuing Education Office Staff Continuing Education Total Other Salary and Benefits 3, , (3,790.13) 5, , (7,899.32) 82, , Total Personnel 16, , (2,523.48) 31, , (6,466.02) 226, , Total Expenses 30, , (4,923.04) 63, , (8,528.26) 430, , Net Balance from Operations $ 54, $ $ 53, $ 66, $ 1, $ 64, $ 10, $ (55,702.16) Other Income (Expense) Prior Years' Adjustment Endowment Gain/Loss/Fees 4, , , , (18,429.72) Transfer to Board Designated Endowment (4,497.20) - (4,497.20) (18,429.72) - (18,429.72) - 18, Total Other Income (Expense) Net Balance $ 54, $ $ 53, $ 66, $ 1, $ 64, $ 10, $ (55,702.16) Miller Management 7

10 Monthly Comparison of Operating Income & Expenses Weeks Weeks Revenues Revenues Expenses Expenses January 4 4 $ 34,595 $ 44,359 $ 45,551 $ 32,290 February ,470 85,065 41,246 30,972 March ,067 39,760 April ,325 34,323 May ,718 26,198 June ,744 27,182 July 5 4 * 100,252 24,417 August ,523 38,284 September ,350 35,016 October ,447 37,736 November ,209 30,319 December ,844 41,127 Total $ 488,546 $ 129,423 $ 421,159 $ 63,262 Average Giving per week 8 8 $ 8, $ 16, * Prepaid Pledges booked for 2017 & $120,000 $100, Revenues 2019 Revenues 2018 Expenses 2019 Expenses Budget $80,000 $60,000 $40,000 $20,000 $- Miller Management 8

11 Operating Expense Summary Expenses Year to Date Church Ministries $ 13,681 Bldg & Admin 18,246 Personnel 31,335 $ 63,262 Personnel 49% Church Ministries 22% Bldg & Admin 29% Miller Management 9

12 Statement of Cash Flows Month Year-to-Date Beginning Balance $ 431,676 $ 404,794 Total Revenues 85, ,423 Total Expenses 30,972 63,262 Change in Net Assets from Operations 54,092 66,161 Other Expense - - Change in Assets - 6,375 Change in Liabilities 5 (2,881) Change in Net Assets (21,920) (10,597) Change in Cash Balance 32,177 59,059 Net Cash Balance $ 463,853 $ 463,853 Miller Management 10